The Global Market for Hematology Instruments and Reagents is Projected to Reach US$16.4 Billion by the Year 2024

Increase in Blood Related Disorders, Automation, and High Throughput Analyzers Drive the Global Hematology Instruments and Reagents Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Hematology Instruments and Reagents market. The global market for Hematology Instruments and Reagents is projected to reach US$16.4 billion by the year 2024, driven by rising incidence of blood-related disorders; automation; and emergence of high-throughput hematology analyzers. Adoption of advanced technology by labs;  rising awareness about bleeding disorders, stem cell research and genetic therapies represent the other growth drivers.

The global hematology instruments and reagents market is growing at a rapid rate, driven by growing incidence of blood disorders, such as anemia, blood cancer, among others, and bleeding disorders such as blood clots, hemophilia, etc.  Further, rising incidence of kidney diseases is also said to drive the hematology market. Automation and emergence of high-throughput hematology analyzers are the key trends driving the market. Adoption of advanced technology by labs, coupled with the overall advancements in proteomics, rising awareness about bleeding disorders, pharmacogenomics, molecular biology, stem cell research, and genetic therapies drive the market for hematology instruments and reagents. The hematology instruments and reagents market is also driven by government initiatives to improve healthcare infrastructure, coupled with the various technological advancements in the field.

Hematology analyzers represent one of the leading segments in the hematology market, driven by their rising application in research and for drug development efforts. Among the developing world, the growing number of blood transfusions and rising awareness of blood safety are the key factors driving the demand for blood cell analyzers. Coagulation analyzers are finding increasing adoption globally owing to increasing incidence of blood disorders and heart diseases, including atrial fibrillation. The ability of coagulation analyzers to expedite turnaround time for enabling timely diagnosis of medical condition, especially in emergency departments, is likely to drive their adoption in both developed and developing countries. Improved accuracy, timely results, and ease of use are the key advantages of coagulation analyzers.

As stated by the new market research report on Hematology Instruments and Reagents, the United States represents the largest market worldwide supported by the increasing incidence of blood disorders such as anemia and blood cancer. Asia-Pacific represents the fastest growing market, registering a CAGR of 10.1% during the analysis period. Growing infusion of private as well as public capital in emerging markets, such as China and India, is fueling growth for hematology instruments and reagents in these markets. The in-vitro diagnostics market of China and India are registering significant growth, owing to the growing population, economic development, increased healthcare spending, and higher affordability for private medical care.

Major players in the market include Abbott Diagnostics Inc., Beckman Coulter Inc., Bio-Rad Laboratories Inc., Drucker Diagnostics, Horiba Ltd., Instrumentation Laboratory Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Roche Diagnostics AG, Siemens Healthcare, Merck KGaA, Stago, Sysmex Corporation, Sysmex America Inc., and Tcoag Ireland Ltd., among others.

The research report titled "Hematology Instruments and Reagents: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a comprehensive review of market trends, drivers, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US dollars for all major geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of Asia Pacific), Latin America and Rest of World. The report also analyzes the global market for Hematology Instruments and Reagents by product segment - Hematology/Coagulation Instruments (Hematology Analyzers, Hematology Flow Cytometers, Coagulation Analyzers, Hemoglobinometers, Slide Stainers, Hematology Centrifuges, and Hematology Vials), and Hematology/Coagulation Reagents (Flow Cytometry Reagents, Coagulation Reagents, Hematology Reagents, Immuno-Hematology Reagents, Control Plasmas, and Hematology Stains).

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