Hematology Analyzers and Reagents Market

Hematology Analyzers and Reagents Market Size, Share & Trends

The hematology analyzers and reagents market is expected to generate a revenue of USD 8.8 billion by 2029, with a revenue of USD 6.6 billion in 2024 to register a CAGR of 6.1%. During the forecast years, the growth of the market is attributed to the integration of flow cytometry with hematology analyzers, the increase in blood disorder incidences, and rising technological advancements. However, the high cost of hematology analyzers and the slow adoption of advanced hematology instruments in emerging economies, along with the lack of skilled professionals in emerging countries, are expected to restrain the growth of this market to a certain extent. Among applications, the hemorrhagic conditions segment holds a significant share due to the growing number of hemorrhagic cases, increased awareness, and screening of hemorrhagic conditions. As a result, the adoption of hematology instruments for the diagnosis of bleeding disorders is increasing, hence positively affecting the market.

Hematology Analyzers and Reagents Market Trends

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Hematology Analyzers and Reagents Market Dynamics

Driver: Rising technological advancements

The main driving force for the growth of the hematology analyzers and reagents market is the rise in the advancements of technology. Diagnostic tools, such as hematology analyzers, over the years, have witnessed significant technological advancements, owing to which the market has undergone a tremendous shift from very basic red blood cell counters to very sophisticated automated analyzers. Currently, various hematology analyzer & reagent manufacturers are focusing on developing technologically advanced hematology products that offer faster results and improved turnaround times. Some recent technological advancements and new product launches are listed below:

• In January 2024, HORIBA (Japan) launched the new HELO 2.0 high throughput automated hematology platform which is CE-IVDR approved, with, which is CE-IVDR approved and pending US FDA approval.
• In May 2023, Siemens Healthineers (Germany) introduced two new solutions for high-volume hematology testing: the Atellica HEMA 570 Analyzer and the Atellica HEMA 580 Analyzer.
• In May 2023, Bio-Rad Laboratories (US) announced the launch of the IH-500 NEXT System, a fully automated system enabling laboratory excellence in immunohematology.

Restraint: High costs of advanced hematology analyzers

In developing countries such as China, India, and Brazil, owing to budget constraints, small and medium-sized organizations and academic laboratories cannot afford advanced, high-priced hematology analyzers. The implementation of hematology analyzers in diagnostic laboratories requires high capital investments. On the other hand, the capital cost related to the procurement of these systems increases significantly because tier I and II hospitals require a number of these systems. the cost of advanced hematology analyzers varies between USD 20,000 and USD 360,000; the cost of low-range hematology analyzers is less than USD 4,000; while the cost of mid-range hematology analyzers ranges from USD 4,000 to USD 30,000.

Opportunity: Growth potential of emerging economies

Market growth across emerging countries is further supported by improvements in their healthcare infrastructure and growing healthcare expenditure. Emerging markets (such as China, India, Brazil, and Mexico) are expected to offer significant growth opportunities to hematology analyzer and reagent manufacturers and distributors during the study period. This can be attributed to the growing number of research activities in the field of hematology, the presence of a large patient pool suffering from blood disorders, and the rising focus of key market players on emerging markets. Furthermore, growing awareness and health check-ups, aging population and increase in healthcare spending by individuals and government initiatives (like Ayushman Bharat in India) are posing as market opportunities for the emerging markets.

To meet the growing demand for hematology analyzers and reagents across emerging markets, prominent product manufacturers are focusing on inorganic strategies (such as partnerships, agreements, expansions, and collaborations) to strengthen their distribution networks and enhance their manufacturing capabilities in these countries.

Challenge: Shortage of skilled professionals in emerging markets

As compared to developed countries, emerging countries such as China and India are witnessing a slower adoption of advanced hematology instruments, such as 5-part and 6-part differential hematology analyzers. This is due to the lack of awareness as well asnd the skills required for the use of advanced hematology analyzers over conventional ones in complete blood sample analysis and the diagnosis of blood disorders.

Advanced hematology instruments using microfluidics and digital technologies require skilled professionals for their efficient operation. As a result, the lack of skilled professionals and timely training to for laboratory staff is hampering the penetration of high-end instruments among large hospitals in emerging countries. According to the Bureau of Labor Statistics (BLS), there is an acute shortage of clinical laboratory workforce in the US.

Hematology Analyzers and Reagents Market Ecosystem

By product and service, the hematology products & services segment accounted for the largest share of the hematology analyzers and reagents industry during the forecast period.

Based on the product and service, the hematology analyzers and reagents market is segmented into hematology, hemostasis, and immunohematology products & services. The hematology products & services segment accounts for the largest share of the hematology analyzers and reagents market. hematology products & services are further sub-segmented into reagents and consumables, instruments and services. The increase in industry adoption of hematology products & services also the adoption of POC testing hematology analyzers in emerging economies and the availability of a wide range of services from major hematology providers. analyzer providers contribute to the large share.

By usage type, the standalone analyzers segment of the hematology analyzers and reagents industry is expected to grow at the highest rate during the forecast period.

Based on the usage type, the hematology analyzers and reagents market is divided into standalone analyzers and point-of-care analyzers. In 2024, the standalone analyzers segment is projected to hold the biggest market share throughout the forecast period. This growth of the segment is driven by growing adoption of these systems across significant markets owing to increased usage in acute care settings across in hospitals and reference laboratories. Furthermore, the end users such as research and academic institutes, which have minimal workflow requirements, are also likely to prefer standalone hematology analyzers due to their affordability and efficient workflows.

By application, the air pollution monitoring segment of the hematology analyzers and reagents industry is expected to witness significant growth during the forecast period.

Based on the application, the hematology analyzers and reagents market is divided into air pollution monitoring, noise pollution monitoring, water pollution monitoring and soil pollution monitoring. Within water pollution monitoring segment there are sub-segments including wastewater monitoring and surface & groundwater monitoring. The air pollution monitoring segment is expected to witness significant growth during the forecast period. The growing acceptance and demand for sensor-based air quality monitoring systems have led to the significant growth and dominance of the segment in the industry in the upcoming years.

North America is expected to be the largest market of the hematology analyzers and reagents industry during the forecast period.

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The hematology analyzers and reagents market has been segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America, comprising the US and Canada, held the largest share of the global hematology analyzers and reagents market in 2023. This region is witnessing growth due to growing need for blood transfusions and rising blood donations, rising demand for blood & blood components, supporting the greater adoption of hematology analyzers technologies.

On the other hand, the Asia-Pacific market is projected to experience the most significant growth rate throughout the forecast period. North America held the largest market share for hematology analyzers and reagents at 42.4%, trailed by Europe at 25.5%.

As of 2023, prominent players in the hematology analyzers and reagents are Sysmex Corporation (Japan), Danaher Corporation (US), Nihon Kohden Corporation (Japan), Siemens Healthineers (Germany), Abbott Laboratories (US), Boule Diagnostics AB (Sweden), Horiba, Ltd. (Japan), Bio-Rad Laboratories Inc. (US), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China) and F. Hoffmann-La Roche Ltd. (Switzerland).

Scope of the Hematology Analyzers and Reagents Industry:

This report has segmented the global hematology analyzers and reagents market to forecast revenue and analyze trends in each of the following submarkets

By Product and Services

• Hematology Products & Services
• Instruments
• 5-part and 6-part Fully Automated Hematology Analyzers
• 3-part Fully Automated Hematology Analyzers
• Point-of-care Testing Hematology Analyzers
• Semi -Automated Hematology Analyzers
• Reagents and Consumables
• Hematology Reagents
• Slide Stainers/Makers
• Controls and Calibrators
• Consumables
• Services
• Hemostasis Products & Services
• Instruments
• Reagents & Consumables
• Services
• Immunohematology Products & Services
• Instruments
• Reagents & Consumables
• Services

By Prize Range

• High range Hematology Analyzers
• Mid-range Hematology Analyzers
• Low- range Hematology Analyzers

By Usage type

• Standalone
• POCT

By Application

• Anemia
• Blood cancer
• Hemorrhagic conditions
• Infectious diseases
• Immune system disorders
• Other applications

By End User

• Hospital Laboratories
• Commercial Service Providers
• Government Reference Laboratories
• Research & Academic Institutes

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Italy
  • Spain
  • Rest of Europe (RoE)
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
  • RoAPAC
• Latin America
  • Brazil
  • Mexico
  • RoLA
• Middle East & Africa
  • GCC Countries
  • Rest of the Middle East & Africa

Recent Developments of Hematology Analyzers and Reagents Industry

• In May 2024, HORIBA, Ltd. received the US FDA 510(k) clearance for its Yumizen H2500 high-throughput hematology analyzer.
• In May 2023, Bio-Rad Laboratories, Inc. launched the IH-500 NEXT System, a fully automated system enabling laboratory excellence in immunohematology.
• In August 2023, Roche and Sysmex expanded their partnership to jointly foster sustainable diagnostic solutions. The renewal includes an agreement on hematology solutions for commercial & hospital laboratories, thus complementing the Roche Diagnostics portfolio.

Frequently Asked Questions (FAQ):

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