USD 17.30 Billion
Global Hematology Market Size, Share, Growth Analysis, By Reagent(Coagulation Reagents, Flow Cytometry Reagents), By Product(Hematology Analyzers, Flow Cytometers) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2693 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
68 |
Figures:
75
Global Hematology Market Insights
Hematology Market size was valued at USD 17.30 Billion in 2021 and is poised to grow from USD 18.56 Billion in 2022 to USD 32.62 Billion by 2030, at a CAGR of 7.3% during the forecast period (2023-2030).
The primary purpose of the hematology market is to facilitate the diagnosis and monitoring of blood-related disorders in patients. Hematological conditions such as anemia, leukemia, lymphoma, and coagulation disorders can have significant health implications, and timely and accurate diagnosis is essential for appropriate medical interventions. Several factors drive the growth and demand for the global hematology market. One of the key driving factors is the increasing prevalence of hematological disorders worldwide. The rise in blood-related diseases can be attributed to factors such as aging populations, lifestyle changes, exposure to environmental toxins, and genetic predispositions. Additionally, advancements in hematology diagnostic technologies and the development of novel therapies have expanded the scope of hematology applications, further fueling market growth.
Moreover, the growing focus on early disease detection and personalized medicine has led to an increased demand for sophisticated hematology analyzers that can provide comprehensive and accurate blood analysis. Despite the significant growth prospects, the hematology market faces certain restraining factors. One notable challenge is the high cost associated with advanced hematology diagnostic equipment and treatments. The initial investment required for acquiring sophisticated hematology analyzers and other diagnostic devices can be substantial, particularly for healthcare facilities with limited budgets. The global hematology market faces challenges in terms of regulatory compliance and quality assurance. Hematology analyzers and other diagnostic devices are subject to stringent regulatory requirements to ensure their safety and accuracy.
Despite the challenges, the global hematology market presents several opportunities for growth and innovation. Advancements in technology, such as the integration of artificial intelligence and machine learning in hematology diagnostics, hold the potential to enhance the speed and accuracy of blood analysis. Furthermore, the increasing focus on point-of-care hematology testing and the development of portable and user-friendly hematology analyzers create opportunities for expanding access to diagnostic services, particularly in resource-constrained settings. The market is driven by the increasing prevalence of hematological diseases, advancements in diagnostic technologies, and the demand for personalized medicine. However, it also faces challenges related to high costs, regulatory compliance, and quality assurance. Despite these challenges, opportunities exist in technology integration, point-of-care testing, and telemedicine applications.
US Hematology Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Coagulation Reagents
Fastest Growth
Coagulation Reagents
Growth Rate
7.3% CAGR
Global Hematology Market ($ Bn)
Country Share for North America Region (%)
Global Hematology Market By Reagent ($ Bn)
Global Hematology Market By Reagent(%)
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Global Hematology Market Segmental Analysis
The global hematology market is segmented on the basis of reagent, product, and region. By reagent, the market is segmented into coagulation reagents, flow cytometry reagents, immuno-hematology reagents, and other reagents. By Product, the market is segmented into Hematology Analyzers, Flow Cytometers, Coagulation Analyzers, Slide Stainers, Centrifuges, Hemoglobinometers, Other Products. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Hematology Market Analysis by Reagent
Coagulation Reagents hold a prominent position in the hematology market due to their critical role in assessing blood clotting abilities. As the incidence of coagulation disorders such as thrombosis and hemophilia rise, the demand for coagulation reagents has surged. These reagents are essential for conducting coagulation tests that aid in diagnosing and monitoring patients with clotting abnormalities. Additionally, the growing elderly population and the rising prevalence of cardiovascular diseases have further contributed to the adoption of coagulation reagents, as clotting disorders become more prevalent with age.
The Flow Cytometry Reagents segment exhibits the fastest growth rate in the hematology market. Flow cytometry is a powerful technology used to analyze and quantify characteristics of individual cells in blood samples. With its ability to provide detailed insights into cellular parameters, flow cytometry has found extensive applications in diagnosing hematological malignancies, immune system disorders, and infectious diseases. The rising prevalence of blood cancers and immunological disorders, coupled with the growing demand for early disease detection and personalized medicine, has fueled the adoption of flow cytometry reagents. Furthermore, ongoing research and development efforts to enhance flow cytometry technology, such as the development of multiplex assays and high-throughput analysis, have accelerated the market's growth.
Hematology Market Analysis by Product
In Hematology Analyzers take center stage as the largest segment in the hematology market, boasting a significant share due to their indispensable role in diagnosing and monitoring various blood disorders. These analyzers are highly efficient in providing comprehensive blood cell counts, identifying anomalies, and assessing hematological parameters with speed and accuracy. With the rising prevalence of blood-related diseases and the increasing demand for efficient diagnostic solutions, the adoption of hematology analyzers has surged. The ability of these analyzers to handle a high volume of samples, deliver rapid results, and aid healthcare professionals in making timely treatment decisions contributes to their dominance in the global hematology market.
Flow Cytometers emerge as the fastest-growing segment, riding the wave of technological advancements and expanding applications in the diagnosis of hematological malignancies and immune system disorders. Flow cytometry offers unparalleled insights into individual cells, enabling precise characterization and analysis of cellular components in blood samples. The escalating incidence of blood cancers, immunological disorders, and infectious diseases worldwide has propelled the demand for flow cytometers. The growing focus on personalized medicine and early disease detection further fuels the adoption of flow cytometers.
Global Hematology Market By Reagent, 2023 (%)
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Global Hematology Market Regional Insights
North America stands as the dominating region in the global hematology market, capturing a significant share due to advanced healthcare infrastructure, increasing prevalence of blood disorders, and a strong focus on early disease detection and personalized medicine. The region's well-established healthcare systems and access to cutting-edge diagnostic technologies, including hematology analyzers and flow cytometers, have contributed to its leadership position in the market. Moreover, the rising geriatric population in North America has led to an increased incidence of hematological disorders, such as anemia and leukemia, driving the demand for hematology diagnostics. Additionally, the presence of key market players and continuous research and development activities in the region have further bolstered its dominance in the global hematology market.
Asia Pacific emerges as the fastest-growing region in the global hematology market, fueled by factors such as a large population base, rising healthcare expenditures, and an increasing focus on improving healthcare infrastructure. The region's growing awareness about hematological diseases and the availability of advanced diagnostic technologies have propelled the demand for hematology analyzers and flow cytometers. Moreover, the prevalence of blood-related disorders is on the rise in Asia Pacific due to factors like lifestyle changes, pollution, and genetic predisposition. Governments in the region are also taking initiatives to improve healthcare access and affordability, further promoting the adoption of hematology diagnostics. As the Asia Pacific region witnesses increasing investments in healthcare, along with rising disposable incomes and an aging population, it presents a fertile ground for the expansion of the hematology market, making it the fastest-growing region globally.
Global Hematology Market By Geography, 2024-2031
- Largest
- Fastest
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Global Hematology Market Dynamics
Hematology Market Drivers
Rising Prevalence of Hematological Disorders
- The increasing incidence of blood-related diseases, such as leukemia, lymphoma, and anemia, continues to drive the demand for hematology diagnostics. For instance, in 2022, the World Health Organization reported a surge in the prevalence of anemia worldwide, creating a significant need for hematology analyzers to assess patients' red blood cell count and hemoglobin levels accurately.
Technological Advancements
- Technological breakthroughs in hematology analyzers and flow cytometry have revolutionized blood analysis. For example, in 2022, a leading medical device company introduced a novel flow cytometer with high-throughput capabilities, enabling faster and more efficient analysis of blood samples. Such advancements boost the adoption of hematology diagnostics, enhancing the market's growth.
Hematology Market Restraints
High Costs of Advanced Hematology Equipment
- The acquisition and maintenance costs of sophisticated hematology analyzers and flow cytometers can be substantial for healthcare facilities, particularly in resource-limited settings. The expenses associated with upgrading equipment and training personnel pose challenges to widespread adoption, impacting the market's growth.
Stringent Regulatory Compliance
- In 2022, regulatory agencies globally are placing greater emphasis on ensuring the safety and accuracy of diagnostic devices. Compliance with stringent regulations, such as ISO standards and FDA approvals, can be time-consuming and resource-intensive for manufacturers, causing delays in bringing new products to the market.
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Global Hematology Market Competitive Landscape
The global hematology market is highly competitive, with numerous established players and new entrants striving to gain a competitive edge in this rapidly evolving industry. Companies in the hematology market are dedicated to developing innovative products and expanding their product portfolios to meet the increasing demand for advanced hematology diagnostics. Key players in the market focus on research and development initiatives to introduce technologically advanced hematology analyzers, flow cytometers, and other diagnostic devices. Additionally, strategic collaborations, partnerships, and acquisitions are common strategies adopted by major players to strengthen their market position and gain access to new markets. The competitive landscape is also influenced by a growing emphasis on personalized medicine, driving companies to offer tailored diagnostic solutions for specific patient populations.
Hematology Market Top Player’s Company Profiles
- Siemens Healthineers AG (Germany)
- Danaher Corporation (US)
- Bio-Rad Laboratories, Inc. (US)
- Boule Diagnostics AB (Sweden)
- Nihon Kohden Corporation (Japan)
- Ortho Clinical Diagnostics (US)
- HORIBA, Ltd. (Japan)
- Mindray Medical International Limited (China)
- BioSystems S.A. (Spain)
- Diatron (Hungary)
- EKF Diagnostics Holdings plc (UK)
- Drew Scientific Inc. (US)
- URIT Medical Electronic Group Co., Ltd. (China)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- CellaVision AB (Sweden)
- Diatron (Hungary)
- Abaxis (US)
Hematology Market Recent Developments
- In March 2023, Novartis announced the approval of Adakveo (ciltacabtagene autoleucel) for the treatment of adult patients with relapsed or refractory acute lymphoblastic leukemia (ALL).
- In February 2023, Gilead Sciences announced the approval of Zydelig (idelalisib) for the treatment of adult patients with relapsed or refractory chronic lymphocytic leukemia (CLL).
- In January 2023, Bristol-Myers Squibb announced the approval of Opdivo (nivolumab) for the treatment of adult patients with relapsed or refractory multiple myeloma.
Global Hematology Key Market Trends
- Integration of Artificial Intelligence (AI): The integration of AI in hematology diagnostics is a key trend in 2022, enhancing the accuracy and efficiency of blood analysis. AI algorithms can analyze vast amounts of data from hematology analyzers and flow cytometers, aiding in the identification of subtle abnormalities and assisting in more precise disease classification.
- Growing Demand for Point-of-Care Testing (POCT): The trend towards point-of-care hematology testing is gaining traction in 2022, driven by the need for rapid diagnosis and decentralized healthcare. POCT devices offer near-real-time results, enabling healthcare professionals to make immediate treatment decisions, particularly in emergency situations or remote settings.
Global Hematology Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global hematology market analysis, North America emerges as the dominant region in terms of revenue share, driven by factors such as the rising prevalence of hematological disorders, a well-established healthcare system, and technological advancements in hematology diagnostics. The region hosts key market players that continuously innovate and introduce advanced hematology analyzers, flow cytometers, and other diagnostic devices, contributing to its market leadership. Conversely, Asia Pacific showcases the fastest growth rate in the hematology market, propelled by factors like a large patient population, increasing healthcare investments, and a growing focus on early disease detection. Governments in the region are implementing favorable reimbursement policies and undertaking initiatives to improve healthcare infrastructure, fostering the adoption of hematology diagnostics. The hematology market exhibits a diverse range of products, including hematology analyzers, flow cytometers, and coagulation analyzers, with hematology analyzers being the largest segment due to their crucial role in blood cell analysis. The increasing prevalence of hematological disorders, particularly in the aging population, drives the market's growth. Additionally, technological advancements, such as the integration of artificial intelligence in hematology diagnostics, enhance the accuracy and efficiency of blood analysis. However, the high costs associated with advanced hematology equipment and stringent regulatory compliance present challenges to market expansion. Key trends in the hematology market include the growing demand for point-of-care testing and the emphasis on personalized medicine, aiming to offer tailored diagnostic solutions for specific patient populations. As the global hematology market continues to evolve, it presents ample opportunities for market players to innovate, expand their product portfolios, and meet the evolving needs of healthcare providers and patients in the realm of hematology diagnostics and management.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 17.30 Billion |
| Market size value in 2031 | USD 32.62 Billion |
| Growth Rate | 7.3% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Hematology Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Hematology Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Hematology Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Hematology Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Hematology Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Hematology Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Hematology Market Report Snapshots
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