Hematology Diagnostics Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2021-2030

Published Date : Feb 2021 | No. of Pages : 250 Pages | Category : Healthcare

The global Hematology Diagnostics market size is expected to be worth around US$ 10.39 billion by 2030, according to a new report by Vision Research Reports.

The global Hematology Diagnostics market size was valued at US$ 6.96 billion in 2020 and is anticipated to grow at a CAGR of 6.85% during forecast period 2021 to 2030.

Growth Factors

Increasing prevalence of blood disorders coupled with adoption of automated testing processes are projected to propel the market growth.

Automation of hematology diagnostics process have led to reduced turnaround time thereby accelerating the overall treatment regimen. Furthermore, automation has also led to reduced administrative errors and overall costs of diagnostic tests. Thus, it is expected to boost growth of the hematology testing market in the forthcoming years.

Dominance of hematology analyzers can be attributed to the presence of fully-automated analyzers which are objective, have high-throughput, and are cost-effective. Furthermore, these hematology analyzers can also detect atypical results and can improve measurable parameters such as red cell distribution width, platelet distribution, Reticulocyte (RET) counts, and nucleated red cells counts.

The advent of Point-Of-Care (PoC) hematology testing devices has led to improved diagnostic and patient outcomes. These devices are user-friendly and are available for use outside the hospital settings. This is anticipated to increase the acceptability and accessibility of hematology testing which, in turn, is anticipated to propel market growth.

Report Highlights

Based on product, the hematology testing market is segmented into instruments and consumables. The latter is further divided into reagents, stains, and others. Consumables segmented is anticipated to maintain its dominance over the forecast period. This can be attributed to increased demand for consumables owing to rise in diagnosis of blood disorders and other infections. In addition, increasing test volume owing to rising awareness and early detection is also fueling growth of the segment.

The instrument segment is further divided into analysers, flow cytometers, and others. Analysers dominated the segment revenue in 2020. Technological advancements and increasing automation are anticipated to be the primary growth drivers for this segment.For instance, the advanced instruments offer good sensitivity, reliability, specificity, ease of operation, and safety. Therefore, such technological advancements are propelling the demand for analyzers.

Based on end-use, the market for hematology testing is segmented into hospitals, diagnostic labs, and others. Hospital held the dominant end use segment in 2020. Diagnostic labs segment, on the other hand, is anticipated to expand at a rapid pace over the forecast period. Increasing number of diagnostic centers and availability of advanced instruments are anticipated to fuel the demand. Furthermore, automation of diagnostic instruments is projected to reduce the cost of these tests and thus, drive the demand.

On the basis of test type, the market for hematology diagnostics is segmented into blood count, platelet function, hemoglobin, and hematocrit. Blood count held the largest market share in terms of revenue in 2017 and is anticipated to expand at a lucrative CAGR over the forecast period. Complete Blood Count (CBC) tests are useful for general evaluation of health during routine check-ups. Several conditions such as anemia, allergy, vitamin and iron deficiencies, and infections, are easily diagnosed through these tests. Abnormal CBC test results prompt other non-hematological confirmatory tests, which may diagnose diseases such as long-term infections, acute infectious diseases, blood cancers, bone marrow and autoimmune disorders, liver and spleen diseases, and other malignancies. Such broad scope of application is anticipated to fuel the market growth.

North America held the leading market share in terms of revenue. Key factors such as constantly increasing geriatric population, favorable reimbursement scenario, sophisticated technological facilities, and introduction of advanced technologies for the POC test can be attributed to this growth.

Asia Pacific is expected to register the fastest CAGR. Rise in per capita income leading to increased adoption of diagnostic and therapy products coupled with government initiatives to improve healthcare infrastructure are expected to fuel the regional market growth.

Key Players

Beckman Coulter, Inc.; Siemens Healthineers; Mindray Medical International Limited; F. Hoffmann-La Roche Ltd.; Sysmex Corporation

Market Segmentation

  • Product Outlook 

    • Instrument

      • Analyzers

      • Flow Cytometers

      • Others

    • Consumables

      • Reagents

      • Stains

      • Others

  • End-use Outlook 

    • Hospitals

    • Diagnostic Labs

    • Others

  • Test Type Outlook 

    • Blood count

    • Platelet function

    • Hemoglobin

    • Hematocrit

  • Regional Outlook 

    • North America

      • The U.S.

      • Canada

    • Europe

      • The U.K.

      • Germany

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • Middle East & Africa

      • South Africa

      • Saudi Arabia

The Hematology Diagnostics market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. 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 provides size (in terms of volume and value) of Hematology Diagnostics market for the base year 2020 and the forecast between 2021 and 2030. 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.

This report focuses on the global Hematology Diagnostics market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Hematology Diagnostics market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Hematology Diagnostics market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Hematology Diagnostics capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Hematology Diagnostics by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Hematology Diagnostics market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Hematology Diagnostics market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Hematology Diagnostics market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Hematology Diagnostics industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Hematology Diagnostics market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Hematology Diagnostics market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Hematology Diagnostics market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Hematology Diagnostics market. These factors have benefited the growth of the global market for Hematology Diagnostics. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Hematology Diagnostics. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Hematology Diagnostics are as follows:

  • Historic Year: 2017-2020
  • Base Year: 2021
  • Forecast Year 2021 to 2030

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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