Hematology Analyzers & Reagents Market by Products

Hematology Analyzers & Reagents Market by Products
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The global hematology market is estimated to grow at a lower CAGR in developed countries; however, it is expected to witness high growth in emerging countries such as China, India, and Brazil in the next five years. The growth of the hematology analyzers and reagents market is driven by factors such as increasing adoption of automated hematology instruments by diagnostics laboratories, growing development of the high throughput hematology analyzers, integration of basic flow-cytometry techniques in modern hematology analyzers, developments in high sensitivity Point-of-Care hematology testing, and the introduction of technologically advanced hematology instruments. However, slow adoption of advanced hematology instruments in the emerging economies, hematology product recalls, and the high cost of hematology analyzers are restraining the growth of this market. Rapid growth of hematology market in emerging countries such as India, China and Brazil with battery like Nihon Kohden ECG-8110P Battery, Nihon Kohden ECG-8420 Battery, Nihon Kohden ECG-9020K Battery, Nihon Kohden ECG-9130 Battery, Nihon Kohden ECG-9320 Battery, Nihon Kohden ECG-9620 Battery, Nihon Kohden ECG-11A Battery, Nihon Kohden FSB-2012K Battery, Nihon Kohden LCS-2012NK Battery, Nihon Kohden LCS-2912NK Battery, Nihon Kohden MD-BY01 Battery, Nihon Kohden QTC6210K Battery, Nihon Kohden SB-901D Battery, Nihon Kohden TEC-5500 Battery; introduction of digital imaging systems in hematology laboratories; and growing use of microfluidics technology in hematology analyzer are creating opportunities for the growth of the hematology analyzers and reagents market in these regions.
In this report, the global hematology market has been segmented on the basis of type of product (hematology instruments and consumables) & services and by end-users (commercial organizations, stand alone hospitals, research institutes, and clinical testing labs). The hematology consumables market accounts for the largest share of the global hematology analyzers and reagents market in 2014. Factors such as new product launches, development of high throughput screening techniques, and increasing adoption of hematology automation platforms in laboratories are stimulating the growth of the hematology reagents market.
Geographically, North America commands the largest share of 44% of the global hematology analyzers and reagents market in 2014, followed by Europe. The hematology analyzers and reagents market in the North America is primarily driven by various factors including technological advancements, rising incidence/prevalence of patients suffering from blood disorders, increasing funding to research institutes, and presence of large number of well established hematology firms. However, increasing government pressure to reduce the healthcare cost, decreasing reimbursement of laboratory tests, and rising price pressure on the market players are restraining the growth of the market in this region. The Asia-Pacific region is poised to grow at the highest CAGR of 9.4% in the next five years, owing to factors such as large patient population, increasing funding/investment toward the development of hematology products, and growing focus of both international and domestic players.
The global hematology analyzers and reagents market is highly competitive with a large number of big and small market players. As of 2013, the global hematology analyzers and reagents market was dominated by Sysmex Corporation (Japan), Beckman Coulter, Inc. (U.S.), and Abbott Laboratories (U.S.), which together accounted for 83% of the market. New product launches and partnerships, agreements, collaborations, and joint ventures are the major strategies adopted by most of the market players to achieve growth in the hematology analyzers and reagents market.