Market Analysis Reports

Market Analysis - Hematology Congress 2024

Market Analysis

Note: The global hematology analyzer market size was valued at $1,962.40 million in 2020 and is projected to reach $3,941.10 million by 2030 registering a CAGR of 7.30% from 2021 to 2030. Hematology analyzers are computerized, highly specialized machines that count the number of different types of red and white blood cells, blood platelets, hemoglobin, and hematocrit levels in a blood sample.

Hematology Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2027. Blood disorders are substantial health and economic burden in worldwide populations. The growing prevalence of common blood disorders such as anemia particularly among women and hemophilia has been driving clinical advances in the hematology market. The prevalence of certain blood cancer in developed countries is also bolstered awareness for hematology testing. The Global Hematology Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

The increasing incidence of blood-related disorders is expected to propel the growth of the global hematology market. The rising incidence of blood cancer is a major factor contributing to the growth of the market. For instance, according to GLOBOCAN 2018, more than 1.85 million new blood cancer cases are expected to be diagnosed in 2040 across the globe. Furthermore, according to the American Cancer Society, Non-Hodgkin lymphoma is one of the more common types of cancer in the U.S., accounting for 4% of all cancer cases. An estimated 74,680 patients were diagnosed with Non-Hodgkin lymphoma in the U.S. in 2018. In addition, increasing incidence of hemophilia and sickle-cell anemia is expected to drive the growth of the global hematology market. For instance, according to the World Federation of Hemophilia’s (WFH) 2018 statistics, around 440,000 people had hemophilia, out of which around 173,000 people were diagnosed with hemophilia A or B in 2017 globally. Furthermore, as per the World Health Organization, in 2018, the prevalence of anemia in children was around 45% and 12% in men, and it is increasing rapidly all over the world. Similarly, According to the National Institute of Health (NIH), anemia affects 30% of women of reproductive age and 40% of pregnant women, globally. Stringent regulatory and reimbursement policies on product launches, as well as product recalls due to safety violations are projected to hamper the growth of the market over the forecast period. For instance, in April 2017, Sysmex, a Japanese medical devices company recalled 3,682 XN Series Automated Hematology Analyzers, owing to increases in incidences of fire caused due to improper alignment of an internal protective sheet that protects electronic components from salty reagents used in hematological sample analysis.

Furthermore, an increasing number of product launches is expected to propel the market growth over the forecast period. New product launches by key players operating in the global market are expected to propel the growth of the global hematology market. For instance, in May 2018, Beckman Coulter, a Danaher Corporation company that develops, manufactures, and markets products that simplify, automate, and innovate complex biomedical testing, launched the DxH 900 hematology analyzer which performs complete blood count and white blood cell differential tests with minimal repeats for application in mid-to high-volume clinical laboratories. In February 2018, Horiba, a Japanese manufacturer of precision instruments for measurement and analysis, launched the Yumizen G range of semi-automatic to fully automatic hemostasis solutions for clinical testing. Moreover, the increasing adoption of certifications for quality enhancement by key players operating in the global hematology market is expected to propel the market growth over the forecast period. In November 2017, Sysmex received CLIA Waiver certification under the U.S. regulatory approval system for the XW-100 automated hematology analyzer. It is the latest product in the hematology field targeting the U.S. market.