The hematology analyzers and reagents market size was estimated to be US$ 8.32 million in 2021 and US$ XX million in 2023 and is expected to reach US$ 18.20 million by 2031; it is estimated to record a CAGR of 8.4% in till 2031. Escalating adoption of smart point-of-care devices is likely to remain key hematology analyzers and reagents market trends.
The players operating in the hematology analyzers and reagents market are highly competitive and have been introducing novel products and reagents. For instance, in January 2024, HORIBA Medical launched the latest HELO 2.0 high throughput automated hematology platform. The platform is CE- European In Vitro Diagnostic Devices Regulation (IVDR) approved and is currently awaiting the US Food and Drug Administration (FDA) approval. The HELO 2.0 is the next generation of high-end hematology range and has been developed in consultation with customers to cater to all high throughput fully automated hematology needs. The HELO 2.0 offers a highly flexible and efficient modular hematology solution, which can be fully scaled and configured to suit the varying needs of mid to large-scale laboratories. Similarly, In May 2023, Siemens Healthineers launched two solutions for high-volume hematology testing: the Atellica HEMA 570 Analyzer and the Atellica HEMA 580 Analyzer. The lab's ability to review and release patients' test results quickly is hindered by the broad use of CBC testing and increasing staff shortages. The Atellica HEMA 570 and Atellica HEMA 580 Analyzers offer integrated automation and intelligence to improve workflow efficiency and produce faster patient results. The launches of such new products are fuelling the growth of the hematology analyzers and reagents market.
The growth of the hematology analyzers and reagents market is attributed to increasing number of hematologic diseases and technological advancements in hematology analyzers. However, steep prices of high-tier systems are likely hampering the growth of the market.
Global hematology analyzers and reagents market is segmented by region into North America, Europe, Asia Pacific, Middle East &Africa, and South & Central America. The North American region is the largest shareholder and the Asia Pacific is the fastest growing market for hematology analyzers and reagents. The growth of the hematology analyzers and reagents market is estimated to have a largest share in the US. The growth of the market in the US is expected to grow due to a rising number of blood testing procedures, high prevalence of hematology diseases, rising numbers of diagnostic and blood testing centers, and access to well-developed infrastructure and others.
According to the Centers for Disease Control and Prevention (CDC), approximately 12 out of every 100,000 males in the US and 400 boys are born with hemophilia A each year. Further, the Leukemia & Lymphoma Society (LLS) reports that in the US, one person is diagnosed with lymphoma, leukemia, or myeloma every 3 minutes. In 2023, an estimated total of 184,720 people in the US are expected to be diagnosed with leukemia, lymphoma, or myeloma. Furthermore, new cases of lymphoma, leukemia, and myeloma are expected to make up 9.4% of the 1,958,310 new cancer cases that will be diagnosed in the US in 2023. The rising prevalence of hematologic diseases boosts demands for blood transfusion as well as blood cell counting for monitoring normalcy, which is further escalating the demand for hematology analyzers and reagents. The increasing incidence of blood-related diseases is augmenting the growth of the hematology analyzers and reagents market.
The incidence of hematologic diseases is rising significantly in developing countries due to the shift in the lifestyle of populations. Moreover, the surging prevalence of other health conditions due to lowered physical activities and increasing stress levels is also contributing to the rise in cases of hematologic disorders in these countries. Developing nations are striving to bring significant advancements in their healthcare facilities and services. For instance, the Hemophilia Federation India (HFI) is a nonprofit organization that has worked closely with the World Federation of Hemophilia (WFH) to increase awareness regarding hemophilia and affordable treatments available for the same as well as to enhance the diagnosis of the disease. Moreover, The RED LAPI professional team strives to contribute and improve the diagnosis and treatment of hemophilia in Latin America. Such developments in the hematology analyzers and reagents market in developing nations in Asia Pacific, the Middle East and Africa, and Latin America are providing opportunities for the future growth of market players.
Key segments that contributed to the derivation of the hematology analyzers and reagents Market analysis are product and service, cause, application, and end user.
The geographic scope of the hematology analyzers and reagents market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
In North America, the US is the largest market for hematology analyzers and reagents manufacturing. The US market's growth is primarily driven by favorable research scenarios, rising demand for blood and blood components, and high adoption of automated hematology instruments.
Growing prevalence of hematological disorders such as leukemia, hemophilia, and anemia in the US. The American Cancer Society’s estimates for leukemia in the US for 2024 are:
Rising awareness about early diagnosis among patients is expected to be one of the key driving forces for the hematology analyzers and reagents market. Asia Pacific is anticipated to grow with the highest CAGR in the coming years.
The regional trends and factors influencing the Hematology Analyzers And Reagents Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Hematology Analyzers And Reagents Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 8.32 million |
| Market Size by 2031 | US$ 18.20 million |
| Global CAGR (2023 - 2031) | 8.4% |
| Historical Data | 2021-2022 |
| Forecast period | 2023-2031 |
| Segments Covered |
By Product and Service
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Hematology Analyzers And Reagents Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Hematology Analyzers And Reagents Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The hematology analyzers and reagents market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for hematology analyzers and reagents and strategies:
The “Hematology Analyzers And Reagents Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas: