The Global Hematology Diagnostics Market Size accounted for USD 7.5 Billion in 2021 and is projected to achieve a market size of USD 12.3 Billion by 2030 rising at a CAGR of 5.8% from 2022 to 2030. Hematology is a part of drug, which manages the study of blood, blood illnesses and blood-forming organs. Hematology incorporates issues related with white platelets, red platelets, bone marrow, lymph, and platelets. It additionally influences the fluid part of blood known as plasma. Hematology incorporates different IVD advancements, such as blood analysis, stream cytometry, molecular and atomic diagnostics, hemostasis, histology, and cytology. Some of the blood-related infections are weakness, leukemia, myelofibrosis, threatening lymphomas, blood transfusion and bone marrow. Hematology also analyzes the weakness, disease, hemophilia, and blood coagulating.
Hematology Diagnostics Market Report Statistics
The rising prevalence of cancer is one of the primary factors driving the global hematology diagnostics market revenue. According to the American Cancer Society, Inc., there will be over 1.9 million new cancer cases diagnosed worldwide in 2021. Aside from that, over 608,000 people died from cancer in the same year. Blood cancer is one of the most common types of cancer, and it affects almost everyone regardless of age. As a result of the growing number of blood cancers and other blood-related disorders, the demand for hematology diagnostics is increasing.
Global Hematology Diagnostics Market Dynamics
Hematology Diagnostics Market Report Coverage
|Market||Hematology Diagnostics Market|
|Hematology Diagnostics Market Size 2021||USD 7.5 Billion|
|Hematology Diagnostics Market Forecast 2030||USD 12.3 Billion|
|Hematology Diagnostics Market CAGR During 2022 - 2030||5.8%|
|Hematology Diagnostics Market Analysis Period||2018 - 2030|
|Hematology Diagnostics Market Base Year||2021|
|Hematology Diagnostics Market Forecast Data||2022 - 2030|
|Segments Covered||By Product, By Test Type, By End-Use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Abbott Laboratories, Ortho Clinical Diagnostics, Sysmex Corporation, Boule Diagnostics, F. Hoffmann-La Roche Ltd., HORIBA, Ltd., Drew Scientific, Bio-Rad Laboratories, EKF Diagnostics, and Beckman Coulter, Inc.|
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Hematology Diagnostics Market Growth Factors
The rise in the frequency of blood disorders, the introduction of technologically enhanced automated hematology analyzers, technological advancements, and growing awareness among people are some of the fundamental factors which are responsible for the growth of the hematology diagnostics market globally. Huge demand for lab automation and increment in consolidation among market players and diagnostic labs are key factors that are driving the worldwide hematology diagnostics market during the forecast period. Point-Of-Care (POC) hematology tests are easy to understand as they diminish the requirement for user training alongside enabling remote testing. Besides, these tests decrease the turnaround time. The rising adoption of these tests is foreseen to fuel the market growth over the estimated time frame. Expanding number of diagnostic centers and accessibility of advanced instruments are expected to fuel the demand for hematology diagnostics. However, the high cost of automated instruments and lack of awareness among people in developing economies may hamper the growth of the hematology diagnostics market growth.
Hematology Diagnostics Market Segmentation
The global hematology diagnostics market is segmented based on product, test type, end-use, and geography.
Hematology Diagnostics Market By Product
According to our hematology diagnostics industry analysis, consumables acquired the largest market share in 2021. Consumables are further divided into reagents, stains, and others. The high demand for consumables is credited to the growing diagnosis of blood disorders and other infections. Then again, the increased awareness among consumers and early detection of blood disorders is also fueling the consumables industry during the projected timeframe from 2022 to 2030.
Hematology Diagnostics Market By Test Type
Based on test type, the blood count sub-segment generated the largest revenue in 2021 and is expected to continue its trend during the forecast period 2022 to 2030. Blood count tests such as complete blood count (CBC) tests are carried out for routine check-ups and are useful for general health evaluation. Several conditions such as anemia, allergy, vitamin and iron deficiencies, and infections, are easily diagnosed through these tests.
Hematology Diagnostics Market By End-Use
According to our hematology diagnostics market forecast, hospitals will hold a sizable market share in 2021. The diagnostic labs segment, on the other hand, is expected to grow rapidly over the forecast period. The growing number of diagnostic centers and the availability of advanced instruments are expected to drive demand in the hospitals segment. Furthermore, automation in the field of hematology diagnostics has allowed hematology diagnostics hospitals and laboratories to be a focus of research and development activities.
Hematology Diagnostics Market Regional Outlook
The Middle East & Africa
Hematology Diagnostics Market Regional Analysis
In terms of revenue, North America dominated the market in 2021. This growth can be attributed to key factors such as an ever-increasing geriatric population, a favorable reimbursement scenario, sophisticated technological facilities, and the introduction of advanced technologies for the POC test.
Japan is anticipated to provide the most market opportunity in the Asia-Pacific region. This is because Japan has a fully advanced healthcare system as well as a large geriatric population. Emerging markets such as India and China are expected to drive significant market growth.
Hematology Diagnostics Market Players
Key companies profiled in this report involve Abbott Laboratories, Ortho Clinical Diagnostics, HORIBA, Ltd., Sysmex Corporation, Boule Diagnostics, F. Hoffmann-La Roche Ltd., Drew Scientific, Bio-Rad Laboratories, EKF Diagnostics, and Beckman Coulter, Inc.
The market size of hematology diagnostics market in 2021 was accounted to be USD 7.5 Billion.
The projected CAGR of hematology diagnostics market during the analysis period of 2022 to 2030 is 5.8%.
The prominent players of the global hematology diagnostics market include Abbott Laboratories, Ortho Clinical Diagnostics, HORIBA, Ltd., Sysmex Corporation, Boule Diagnostics, F. Hoffmann-La Roche Ltd., Drew Scientific, Bio-Rad Laboratories, EKF Diagnostics, and Beckman Coulter, Inc.
North America held the dominating hematology diagnostics during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for hematology diagnostics during the analysis period of 2022 to 2030.
Growing prevalence of hematology disorders, increasing incidence of leukemia, and rising awareness regarding blood disorders drives the growth of global Hematology Diagnostics market.
Based on product, consumables segment is expected to hold the maximum share hematology diagnostics market.