(PharmaNewsWire.Com, September 03, 2024 ) The report "Hematology Analyzers and Reagents Market by Product (Instrument (PoC, Semi-automated), Reagent, Consumable, Service), Price (High, Mid, Low), Application (Anemia, Blood Cancer), End User (Hospital, CTL, Govt Lab, Blood Bank) - Global Forecast to 2029", size is expected to grow from an estimated USD 8.8 billion in 2029 to USD 6.6 billion by 2024, at a CAGR of 6.1%. Factors such the increasing incidence of blood disorders, integration of hematology analyzers with flow cytometry and rise in technological advancements are high growth prospects for the hematology analyzers and reagents market during the forecast period. However, the slow adoption of advanced hematology instruments in emerging economical regions and the high cost of hematology analyzers, are expected to restrain the market growth to a certain extent.
The hematology products & services segment is to register a significant growth rate over the forecast period of 2024-2029.
Based on the product and service, over the forecast period of 2024-2029, the hematology products & services segment is to register a significant growth rate. The hematology analyzers and reagents product market is segmented into hematology products & services, immunohematology products & services and hemostasis products & services. Each of the product & service segments further comprises instruments, reagents and consumables and services. The key factors encouraging the growth of hematology products & services segment during the forecast period are the launch of technologically advanced hematology products and the increasing preference towards automation.
The hemorrhagic conditions segment accounted for the largest share of hematology analyzers and reagents in 2024-2029.
Based on application, during the forecast period, the air hemorrhagic conditions segment is anticipated to dominate the hematology analyzers and reagents market, holding the largest market share. The segment commands a significant share due to the growing number of hemorrhagic cases, increased awareness and screening of hemorrhagic conditions, and the increasing hematology instruments adoption for the diagnosis of bleeding disorders.
Asia Pacific registered the highest CAGR in the market during the forecast period.
In 2024, Asia Pacific is expected to register the highest CAGR in the market for hematology analyzers and reagents during the forecast period. Asia Pacific comprises China, India, South Korea, Taiwan, and Singapore, and the rest of Asia Pacific. Factors such as rising incidence of chronic diseases; growth in healthcare expenditure and greater adoption of blood analysis technologies are driving the growth of the APAC hematology analyzers and reagents market during the forecast period.
As of 2023, prominent players in 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), among others.
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