The hematology analyzers market is projected to register a CAGR of 7.6% during the forecast period.
There is an increasing focus on the hematology parameters for the assessment of COVID-19 around the world several studies are carried out in research institutions and many of the hospitals started using the hematology analyzers to test and monitor COVID-19 patients without spreading the virus. For the practical and efficient screening of the large populations for the COVID-19 infection, some research studies from China recommended including white blood cells (WBC) and C-reactive protein (CRP) in laboratory examinations for early monitoring of infection. On March 18, 2020, Sight announced that Israel's government-run Sheba Tel Hashomer Hospital is using its OLO, the first blood count device for point-of-care to conduct CBC tests to monitor and treat its COVID-19 patients to mitigate the risk of contamination.
In addition, the review published in Physiological Review-Journal suggests that high levels of an enzyme involved in blood clot prevention may be a common risk factor for developing COVID-19. Furthermore, the correct treatment and management of infection by Coronavirus (COVID-19) in patients affected by hematological disorders may be challenging given the rapid spread of the pandemic and limited literature so far.
Moreover, the major factors for the growth of the hematology analyzers market include the rising burden of blood disorders, increasing technological advancements, and rising adoption rates of automated hematology instruments.
Blood disorders have become a global health issue with different causes and are associated with high mortality. Blood disorders, such as anemia, blood cancers, hemorrhagic conditions, and infections in the blood, affect millions of people each year across all age groups. According to Commonwealth of Australia 2018, more than 330,000 affected infants are born each year (83% sickle cell disorders and 17% thalassaemias), around 7% of pregnant women are carriers of hemoglobin disorders and over 1% of couples are at risk at a global level. As per the World Federation of Hemophilia, in 2019, the prevalence of hemophilia among men was found to be around 17 per 100,000 male, globally. In addition to the same source the number of people identified with hemophilia increased from 78,629 in 1999 to 210,454 in 2018.
Similarly, according to the Global Hemophilia Care 2019 report, more than 1,125,000 men around the world have an inherited bleeding disorder and 418,000 of those have a severe version of the mostly undiagnosed disease. Early diagnosis and treatment are the best ways to protect the quality of life for a patient with a blood cell disorder. Hence, increasing burden of blood disorders are likely to drive the market in the future.
However, high cost of hematology analyzers and time-consuming and stringent rregulatory policies associated with the same is restraining the overall market growth.
Key Market Trends
3 Part Hematology Analyzer is the Segment by Instruments Expected to Hold Largest Market Share
With the rising COVID-19 cases, and the lockdown and inhibitions on the intercountry transport were found having an impact on the supply chain of the systems. Initially many manufacturers have thus stopped the production due to the lack of labor that is found impacting the segment growth. However, the increasing focus on hematology parameters for the assessment of COVID-19 has increased the demand for hematology analyzers. In the case of the COVID-19 pandemic, 3- part hematology analyzers found to be cost-effective as the samples required to test is huge. Furthermore, demand may surge post the COVID-19 pandemic also.
Moreover, A 3-part differential cell counter uses Coulter's Principle to find the size and volume of the cell. The sample is lysed and dissolved into an electrolyte solution in a container, which also holds a smaller container. 3-part hematology analyzer systems are ideally suited for physician office laboratories, clinics, and small hospitals that perform moderately complex testing. There is increased interest on 5-part hematology analyzers, however, 3-part hematology analyzers are more cost-effective for routine hematological tests. Furthermore, with advancements in technology and availability of these instruments across the world coupled with affordability the market is projected to have notable growth.
In March 2019, Transasia Bio-Medicals Ltd has launched the 3-Part Differential (3PD) fully automated hematology analyzers, reagents and controls in India that were manufactured by Erba Lachema a fully owned European subsidiary of Transasia. Later in September 2019, Transasia Bio-Medicals Ltd. has announced that it has successfully sold over 1,000 units of its Erba Hematology range of analyzers in India.
In April 2019, Prestige Diagnostics has launched its NEW Hematron 3 PLUS Hematology Analyzer, globally. It is a 3-part differential hematology analyzer capable of performing 18 parameters with 3 histograms.
Furthermore, The clinical laboratories as end users are the centers where hematology tests are performed. Usually, they have high-quality equipment and the results obtained from them are accurate. The automation of laboratories have increased the equipment costs in this segment, however, the analyzers are not frequently replaced in these laboratories. The clinical testing laboratories perform various tests on whole blood, serum, urine, cerebrospinal fluids, and other body fluids. Furthermore, convenience and accurate results are the two major reasons driving the growth of the segment over the forecast period.
North America is Expected to Dominate the Studied Market
The United States is one of the most COVID-affected country across the world. Due to the outbreak of COVID-19, the market is expected to face a slight setback owing to the delay in diagnosis, drug shortages, and others. However The outbreak of COVID-19 is expected to impact the market, as individuals with blood conditions, such as hemophilia, should take extra precautions to minimize the risk of contracting COVID-19, as this group of the population is more prone to infectious diseases.
The market for hematology analyzers in the North American region is growing at a steady pace. This can be attributed to the increasing burden of blood disorders and the growth in the adoption of hematology analyzers by the diagnostic industry. For instance, anemia, which is a common disorder, affects more than three million Americans, particularly women of 'childbearing age.
According to the World Federation of Hemophilia 2018 report, in 2018, there were about 17,757 people diagnosed with hemophilia in the United States. Furthermore, in 2019, the number of people with hemophilia in the United States increased to about 20,000 individuals, as per NHF (National Health Federation). In addition According to the Leukemia and Lymphoma Society, in every three minutes, a person in the United States is diagnosed with blood cancer. About 176,200 people in the United States were diagnosed with leukemia, lymphoma, or myeloma, in 2019.
Many market players are present in the country and are continuously focusing on the development and introduction of novel products. In December 2019, Beckman Coulter subsidiary of Danaher Corporation has launched new DxH 690T hematology analyzer. Designed to help laboratories streamline workflow and maximize uptime.Similarly, in April 2019, Ortho Clinical Diagnostics, in collaboration with Diazyme Laboratories Inc. launched its D-Dimer assay, the latest offering in Ortho's MicroTip Partnership Assay (MPA) program for coagulation testing in the United States.
Moreover, In the United States, there are a number of associations helping, both, clinicians and scientists across the world, who are working to conquer such blood diseases. In addition, many centers in the state are international leaders in the diagnosis and treatment of blood diseases and collaborate in many research projects to improve diagnosis and treatment options for blood diseases. These factors drives the demand of hematology analyzers in the North American region.
The market studied is a fragmented market owing to the presence of various market players. Some of the market players are Abbott Laboratories, Beckman Coulter, Inc. (Danaher Corporation), Bio-Rad Laboratories, Boule Diagnostics AB, F. Hoffmann-La Roche Ltd, Hobira Ltd, Nihon Kohden Corporation, Mindray Medical International Limited (Shenzhen Mindray Bio-Medical Electronics Co., Ltd.), Siemens Healthineers, and Sysmex Corporation
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.2.1 Rising Burden of Blood Disorders
- 4.2.2 Increasing Technological Advancements
- 4.2.3 Rising Adoption Rates of Automated Hematology Instruments
- 4.3 Market Restraints
- 4.3.1 High Cost of Hematology Analyzers
- 4.3.2 Time-consuming and Stringent Rregulatory Policies
- 4.4 Porter's Five Force Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Instruments
- 188.8.131.52 3 Part Hematology Analyzer
- 184.108.40.206 5 Part Hematology Analyzer
- 220.127.116.11 Point-of-Care Testing Hematology Analyzers
- 18.104.22.168 Others
- 5.1.2 Reagents
- 5.1.3 Services
- 5.2 By End User
- 5.2.1 Hospitals
- 5.2.2 Clinical Laboratories
- 5.2.3 Research Institutes
- 5.2.4 Others
- 5.3 Geography
- 5.3.1 North America
- 22.214.171.124 United States
- 126.96.36.199 Canada
- 188.8.131.52 Mexico
- 5.3.2 Europe
- 184.108.40.206 Germany
- 220.127.116.11 United Kingdom
- 18.104.22.168 France
- 22.214.171.124 Italy
- 126.96.36.199 Spain
- 188.8.131.52 Rest of Europe
- 5.3.3 Asia-Pacific
- 184.108.40.206 China
- 220.127.116.11 Japan
- 18.104.22.168 India
- 22.214.171.124 Australia
- 126.96.36.199 South Korea
- 188.8.131.52 Rest of Asia-Pacific
- 5.3.4 Middle East and Africa
- 184.108.40.206 GCC
- 220.127.116.11 South Africa
- 18.104.22.168 Rest of Middle East and Africa
- 5.3.5 South America
- 22.214.171.124 Brazil
- 126.96.36.199 Argentina
- 188.8.131.52 Rest of South America
6 COMPETITIVE LANDSCAPE
- 6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 Beckman Coulter, Inc. (Danaher Corporation)
- 6.1.3 Bio-Rad Laboratories
- 6.1.4 Boule Diagnostics AB
- 6.1.5 F. Hoffmann-La Roche Ltd
- 6.1.6 Horiba Ltd
- 6.1.7 Nihon Kohden Corporation
- 6.1.8 Mindray Medical International Limited (Shenzhen Mindray Bio-Medical Electronics Co., Ltd.)
- 6.1.9 Siemens Healthineers
- 6.1.10 Sysmex Corporation
- 6.1.11 Stratec Biomedical Systems (DIATRON)
- 6.1.12 ORTHO CLINICAL DIAGNOSTICS
- 6.1.13 ACCUREX BIOMEDICAL PVT. LTD.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS