Chemistry Analyzers Market (By Product: Analyzers [Small, Medium, Large, Very Large], Reagents [Calibrators, Controls, Standards, Others], Others; By Test: Basic Metabolic Panel, Electrolyte Panel, Liver Panel, Lipid Profile, Renal Profile, Thyroid Function Panel, Specialty Chemical Tests; By End-Use: Hospitals, Academic Research Centers, Diagnostic Laboratories) - Global Industry Analysis, Market Size, Opportunities And Forecast 2020 - 2027

Category : Healthcare and Pharmaceuticals | Published at : February-2021 | Delivery Format : PDF | Status: Published | Pages : 190

The global clinical chemistry analyzers market is anticipated to grow at a CAGR of around 5.8% during the forecast period 2020 to 2027 and to reach around US$ 17.7 Bn by 2027.

Market Dynamics

Increasing number of patients suffering from chronic disease such as diabetes across the globe and rapid technological advancements by major players for development of smart analyzers for early detection of diseases are major factors expected to drive the growth of global market. In addition, high government spending on development of healthcare infrastructure and innovative product offerings are factors responsible to support the growth of target market.

Business expansion plans of major players in order to increase the customer base and enhance the product portfolio through strategic partnerships and agreements is expected to boost the growth of target market.

In 2019, NexTech AR Solutions Corp. a leader in web based augmented reality for e-commerce, and advertising & virtual events signed a strategic agreement with Block Scientific with the focus to show clinical chemistry analyzer with the help of virtual and augmented reality. This is expected to help the company to attract new customers.

In 2018, Siemens Healthineers a healthcare company operating on global level received clearance from FDA and AACC to transform cardiac triage in emergency departments. This is expected to increase the revenue opportunities for the company in clinical chemistry workflows.

In 2018, Sysmex a global supplier of hematology instrumentation and delivers solutions in laboratory testing, hematology and urinalysis entered in to a strategic agreement with McKesson in order to distribute Sysmex’s XW-100 automated hematology analyzers in the US. This is expected to help the company to enhance the customer base.

In 2017, the company launched XN-L automated hematology analyzers for the US market which is expected to strengthen its position in US market.

In addition, government is focused on developing the infrastructure of hospitals in order to deliver enhanced patient care; deployment of advanced diagnostic devices for various test such as electrolyte panel, liver panel, lipid profile, renal profile, thyroid function panel, etc. along with increasing awareness activities are factors expected to support the growth of target market.

However, factors such as high capital investment and high cost devices are major factors expected to drive the growth of global market. In addition, stringent government regulation related to product approval is expected to challenge the growth of target market.

Inclination towards developing counties by the major players in order to increase the revenue share and development of smart and low cost analyzers are expected to create new opportunities for players over the forecast period. In addition, infrastructure development activities by the government in order to facilitate the adoption of advanced devices this is expected to support the revenue traction of target market.

Segment Analysis by Region

The market in North America is expected to account for significant revenue share owing to increasing number of patients suffering from various chronic diseases. In addition, high government spending on development of healthcare sector in order to facilitate the adoption of advanced devices and high investment by major players for R&D activities are factors expected to support the growth of target market.

Presence of large number of players operating in the country and approach towards introduction of innovative products are factors expected to boost the growth of target market. In addition, increasing strategic partnership and agreements is expected to support the growth of target market.

Competitive Landscape

The global market is highly competitive due to presence of large number of players and innovative product offerings. In addition, business expansion activities through partnerships and agreements are factors expected to further increase the competition.

Report coverage

Market	Global Clinical Chemistry Analyzers Market
Analysis Period	2016 – 2027
Base Year	2019
Forecast Data	2020 – 2027
Market Stratification	Product, Test, End-Use and Geography
Regional Scope	North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Report Coverage	Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Clinical Chemistry Analyzers Market Segment Analysis, 2019

The global market is segmented into product, test and end-use. The product segment is bifurcated into analyzers, reagents, and others and the analyzers segment is expected to account for major revenue share in the target segment due to high investment by major players for R&D activities and introduction of smart devices.

The end use segment is divided into hospitals, academic research centers, and diagnostic laboratories. Among the end use the hospitals segment is expected to account for significant revenue share owing to increasing government spending on healthcare sector and high focus on developing the infrastructure of the hospitals for easy adoption of advanced medical devices.

The players profiled in the report are Beckman Coulter, Abbott Diagnostics, Siemens AG, Ortho-Clinical Diagnostics, Thermo Fisher Scientific, Randox Laboratories Ltd., Roche Diagnostics, ElitechGroup, Mindray, and Horiba.

Market Segmentation

Market By Product

Analyzers