The hematology diagnostics market size surpassed US$ 3.2 billion in 2019 and expected to reach US$ 5.3 billion by 2027 at a CAGR of 5.9% during the forecast period from 2020 to 2027.
Growing Rise in prevalence of blood disorders, increase in consolidation among market players and diagnostic laboratories, introduction of fully automated hematology analyzers and rapid technological advancements have increased the growth of the global hematology diagnostics market. The market in the North America is likely to expand at significant CAGR due to ease of usage, numerous technological advancements in instruments, and favourable reimbursement scenario.
The global hematology diagnostics market is growing significantly due to the rising prevalence of blood-related disorders, cancer, and infectious diseases. Additionally, increasing awareness of these targeted diseases along with its diagnosis and screening by diagnostic centers, hospitals, private firms, and social media are the key factors driving the market growth internationally. Currently, more than 1.3 million individuals in the U.S. are living with leukemia, myeloma or lymphoma.
Leading Revenue Contributors to Global Market
Geographically, the markets in Europe and North America are presently the leading contributors of revenue to the global market, chiefly owing to the high prevalence of blood disorders, high awareness regarding available screening methods for blood-related conditions, and high expenditure on healthcare and wellness. Of the key hematology instruments examined in the report, the segment of hematology analyzers presently accounts for the dominant share in the overall market, thanks to the increased adoption of fully-automated hematology analyzers for more accurate results and reduced turnaround times.
Rising Global Prevalence of Blood Cancer to Drive Need for Effective Diagnostic Measures
The chief factor to have helped the global hematology diagnostics market achieve vast stride in terms of technological advancements and introduction of new product varieties at a steady pace in the recent years is the vast rise in focus on the effective diagnosis of the rising cases of blood disorders in developed as well as developing economies. Studies show that blood cancers such as leukemia, lymphoma, or myeloma affected nearly 172,910 people in the U.S. alone in 2017. Cases diagnosed with these cancers are likely to have held a nearly 10% share in the estimated 1,688,780 new cancer cases diagnosed in the country in 2017.
Moreover, nearly 1,290,773 people are either in the remission form or are living with myeloma, leukemia, or lymphoma in U.S. Increased awareness and understanding regarding these conditions among healthcare professionals as well as patients have also led to the increased adoption of hematology diagnostics devices over the years. Apart from this, the increased adoption of point-of-care-testing methods, technological advancements leading to more accurate results and easy-to-use devices, and the easy availability of a vast range of tests are also likely to drive the hematology diagnostics market. However, the market could face headwinds in the form of low awareness among population in developing economies and the high cost of advanced and automated instruments.
Key Participants
The company profiling of key players in the global Hematology Diagnostics market includes company overview, major business strategies and revenues. The key players of the market are Abbott Laboratories, Ortho Clinical Diagnostics, Sysmex Corporation, Boule Diagnostics, F. Hoffmann-La Roche Ltd., Drew Scientific, Bio-Rad Laboratories, EKF Diagnostics, and Beckman Coulter, Inc.
The report analyzes and forecasts the hematology diagnostics market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global hematology diagnostics market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the hematology diagnostics market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report provides size (in terms of volume and value) of hematology diagnostics market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
Market Segmentation
Market by Product
Market by Test Type
Market by End Use
Market by Geography
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.
Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.
The study objectives of this report are:
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Hematology Diagnostics Market, By Product
7.1. Hematology Diagnostics Market, By Product, 2021-2028
7.1.1. Instrument
7.1.1.1. Market Revenue and Forecast (2016-2028)
7.1.2. Consumables
7.1.2.1. Market Revenue and Forecast (2016-2028)
Chapter 8. Global Hematology Diagnostics Market, By Test Type
8.1. Hematology Diagnostics Market, By Test Type, 2021-2028
8.1.1. Blood count
8.1.1.1. Market Revenue and Forecast (2016-2028)
8.1.2. Platelet function
8.1.2.1. Market Revenue and Forecast (2016-2028)
8.1.3. Hemoglobin
8.1.3.1. Market Revenue and Forecast (2016-2028)
8.1.4. Hematocrit
8.1.4.1. Market Revenue and Forecast (2016-2028)
Chapter 9. Global Hematology Diagnostics Market, By End User
9.1. Hematology Diagnostics Market, by End User, 2021-2028
9.1.1. Hospital
9.1.1.1. Market Revenue and Forecast (2016-2028)
9.1.2. Diagnostic Labs
9.1.2.1. Market Revenue and Forecast (2016-2028)
Chapter 10. Global Hematology Diagnostics Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, By Product (2016-2028)
10.1.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.1.3. Market Revenue and Forecast, by End User (2016-2028)
10.1.4. U.S.
10.1.4.1. Market Revenue and Forecast, By Product (2016-2028)
10.1.4.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.1.4.3. Market Revenue and Forecast, by End User (2016-2028)
10.1.5. Rest of North America
10.1.5.1. Market Revenue and Forecast, By Product (2016-2028)
10.1.5.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.1.5.3. Market Revenue and Forecast, by End User (2016-2028)
10.2. Europe
10.2.1. Market Revenue and Forecast, By Product (2016-2028)
10.2.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.2.3. Market Revenue and Forecast, by End User (2016-2028)
10.2.4. UK
10.2.4.1. Market Revenue and Forecast, By Product (2016-2028)
10.2.4.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.2.4.3. Market Revenue and Forecast, by End User (2016-2028)
10.2.5. Germany
10.2.5.1. Market Revenue and Forecast, By Product (2016-2028)
10.2.5.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.2.5.3. Market Revenue and Forecast, by End User (2016-2028)
10.2.6. France
10.2.6.1. Market Revenue and Forecast, By Product (2016-2028)
10.2.6.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.2.6.3. Market Revenue and Forecast, by End User (2016-2028)
10.2.7. Rest of Europe
10.2.7.1. Market Revenue and Forecast, By Product (2016-2028)
10.2.7.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.2.7.3. Market Revenue and Forecast, by End User (2016-2028)
10.3. APAC
10.3.1. Market Revenue and Forecast, By Product (2016-2028)
10.3.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.3.3. Market Revenue and Forecast, by End User (2016-2028)
10.3.4. India
10.3.4.1. Market Revenue and Forecast, By Product (2016-2028)
10.3.4.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.3.4.3. Market Revenue and Forecast, by End User (2016-2028)
10.3.5. China
10.3.5.1. Market Revenue and Forecast, By Product (2016-2028)
10.3.5.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.3.5.3. Market Revenue and Forecast, by End User (2016-2028)
10.3.6. Japan
10.3.6.1. Market Revenue and Forecast, By Product (2016-2028)
10.3.6.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.3.6.3. Market Revenue and Forecast, by End User (2016-2028)
10.3.7. Rest of APAC
10.3.7.1. Market Revenue and Forecast, By Product (2016-2028)
10.3.7.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.3.7.3. Market Revenue and Forecast, by End User (2016-2028)
10.4. MEA
10.4.1. Market Revenue and Forecast, By Product (2016-2028)
10.4.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.4.3. Market Revenue and Forecast, by End User (2016-2028)
10.4.4. GCC
10.4.4.1. Market Revenue and Forecast, By Product (2016-2028)
10.4.4.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.4.4.3. Market Revenue and Forecast, by End User (2016-2028)
10.4.5. North Africa
10.4.5.1. Market Revenue and Forecast, By Product (2016-2028)
10.4.5.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.4.5.3. Market Revenue and Forecast, by End User (2016-2028)
10.4.6. South Africa
10.4.6.1. Market Revenue and Forecast, By Product (2016-2028)
10.4.6.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.4.6.3. Market Revenue and Forecast, by End User (2016-2028)
10.4.7. Rest of MEA
10.4.7.1. Market Revenue and Forecast, By Product (2016-2028)
10.4.7.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.4.7.3. Market Revenue and Forecast, by End User (2016-2028)
10.5. Latin America
10.5.1. Market Revenue and Forecast, By Product (2016-2028)
10.5.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.5.3. Market Revenue and Forecast, by End User (2016-2028)
10.5.4. Brazil
10.5.4.1. Market Revenue and Forecast, By Product (2016-2028)
10.5.4.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.5.4.3. Market Revenue and Forecast, by End User (2016-2028)
10.5.5. Rest of LATAM
10.5.5.1. Market Revenue and Forecast, By Product (2016-2028)
10.5.5.2. Market Revenue and Forecast, By Test Type (2016-2028)
10.5.5.3. Market Revenue and Forecast, by End User (2016-2028)
Chapter 11. Company Profiles
11.1. Beckman Coulter, Inc.
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Siemens Healthineers
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Mindray Medical International Limited
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. Heidelberg Engineering GmbH
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. Recent Initiatives
11.5. F. Hoffmann-La Roche Ltd.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Sysmex Corporation
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers