Market Analysis Reports

Market Analysis - Blood Disorders 2024

Bleeding Disorders Market Research, 2032

In 2022, the global market for bleeding disorders was valued at $13.8 billion and is anticipated to reach $26 billion by 2032, with a Compound Annual Growth Rate (CAGR) of 6.6% from 2023 to 2032. Bleeding disorders are medical conditions that disrupt the body's ability to form blood clots effectively, crucial for stopping bleeding after injuries. These disorders may result in excessive bleeding, even from minor wounds, and sometimes lead to internal bleeding. Types include hemophilia A, hemophilia B, Von Willebrand disease, and other rare bleeding disorders, often diagnosed through blood and genetic tests. Treatment options encompass plasma-derived coagulation factor concentrates, recombinant coagulation factor concentrates, desmopressin, antifibrinolytics, and fibrin sealant.

Market Size of Hematology Analyzers

The market size of hematology analyzers can vary significantly depending on factors such as geographic region, the type of analyzer (e.g., fully automated, semi-automated), and the specific market segment (e.g., clinical laboratories, research institutions). As of my last knowledge update in September 2021, I can provide you with some general insights into the market size and trends at that time. However, it's essential to note that market conditions may have changed since then.

In 2021, the global hematology analyzers market was valued at approximately $2.5 billion to $3.0 billion. This market was expected to grow at a moderate to steady pace due to factors such as an aging population, increasing prevalence of blood disorders and diseases, and advancements in hematology analyzer technology.

Key factors influencing the market size and growth include:

Demand for Hematology Testing: The demand for hematology testing remains relatively stable, as it is a crucial component of healthcare for diagnosing and monitoring various medical conditions, including anemia, leukemia, and other blood-related disorders.

Technological Advancements: The introduction of more advanced and automated hematology analyzers has driven market growth. These analyzers offer faster and more accurate results, reducing the workload in clinical laboratories.

Emerging Markets: Growing healthcare infrastructure and increasing awareness of the importance of early disease detection in emerging markets, such as Asia-Pacific and Latin America, have contributed to market expansion.

COVID-19 Impact: The COVID-19 pandemic had some impact on the hematology analyzers market. While it led to increased demand for diagnostic equipment, including hematology analyzers, it also disrupted supply chains and healthcare priorities.

Regulatory Factors: Regulations and approvals from health authorities play a significant role in shaping the market. Stringent regulations can impact market entry and product development.

Consolidation and Competition: The market has seen some consolidation among key players, which can influence pricing and competition dynamics.

Analysis of the Hematology Analyzers Market

The Hematology Analyzers Market is poised for substantial growth, projected to increase from USD 5.82 billion in 2023 to USD 8.20 billion by 2028, at a notable CAGR of 7.10% during the forecast period spanning from 2023 to 2028.

Globally, there has been a heightened emphasis on hematology parameters in the assessment of COVID-19. Various research studies have shed light on the pandemic's impact on this market. For instance, a study published in the National Library of Medicine in April 2021 highlighted the pandemic's influence on the laboratory hematology community. Nevertheless, the pace of COVID-19-related hematology research has continued to accelerate and has solidified the role of laboratory hematology data in various aspects, including disease prognosis and outcomes. Additionally, collaborative initiatives involving key market players are expected to contribute to market expansion. For example, in January 2021, F. Hoffmann-La Roche AG entered a global business partnership agreement with Sysmex Corporation, enabling Roche to distribute Sysmex hematology testing products, encompassing instruments and reagents. Such strategic collaborations are anticipated to drive market growth throughout the forecast period.

The primary drivers for the hematology analyzers market's growth encompass the escalating burden of blood disorders, ongoing technological advancements, and an increasing adoption rate of automated hematology instruments. Blood disorders have emerged as a significant global health concern, with diverse underlying causes and a significant impact on mortality rates. These disorders, which encompass conditions like anemia, blood cancers, hemorrhagic disorders, and blood-borne infections, affect millions of individuals worldwide across all age groups. According to the Australian Government's Department of Health and Aged Care report in 2022, more than 330,000 infants are born with blood disorders annually (83% suffering from sickle cell disorders and 17% from thalassemias), approximately 7% of pregnant women carry hemoglobin disorders, and over 1% of couples globally are at risk. Similarly, as reported by the World Federation of Hemophilia in its July 2022 update, more than 1,125,000 men worldwide grapple with inherited bleeding disorders, with 418,000 of them facing severe undiagnosed conditions. Timely diagnosis and treatment stand as paramount factors in safeguarding the quality of life for individuals with blood disorders, and this growing burden is expected to propel market growth.

Product launches are another pivotal factor in fostering market expansion. For instance, in July 2022, CellaVision introduced the DIFF-Line, featuring the CellaVision DC-1—a single-slide analyzer designed to automate and digitize the peripheral blood smear analysis process. Such product innovations are poised to further drive market growth over the forecast period.

Nevertheless, market growth faces constraints due to the high cost of hematology analyzers and the time-consuming, stringent regulatory policies associated with these instruments.

Segmentation of the Hematology Analyzers Industry

This report focuses on hematology analyzers, which are essential equipment used for conducting tests on blood samples. They play a crucial role in the medical field, aiding in the determination of various parameters such as white blood cell counts, complete blood counts, reticulocyte analysis, and coagulation tests. The Hematology Analyzers market analysis is structured around three key segments: Product (including Instruments, Reagents, and Services), End Users (encompassing Hospitals, Clinical Laboratories, Research Institutes, and Others), and Geography (spanning North America, Europe, Asia Pacific, Middle East and Africa, and South America). Additionally, the report provides insights into estimated market sizes and trends across 17 different countries within major global regions. The market's value is presented in USD million for each of the mentioned segments.

By Disease type:

The market for bleeding disorders is categorized into segments including hemophilia A, hemophilia B, Von Willebrand disease, and others. In 2022, the hemophilia A segment led in revenue generation due to the widespread use of hemophilia A treatment drugs and the availability of diverse medications. This segment is anticipated to experience the most significant Compound Annual Growth Rate (CAGR) during the forecast period, driven by the increasing incidence of hemophilia A cases and expanding research efforts in this field.

By Treatment type:

The market for bleeding disorders is divided into factor replacement therapy and drug therapy. In 2022, the factor replacement therapy segment claimed the largest market share, driven by the increased demand for this therapy and a rise in cases of clotting factor deficient diseases. This segment is projected to experience the most substantial Compound Annual Growth Rate (CAGR) in the forecast period due to a surge in research and clinical trials aimed at developing new factor replacement therapy medications.

Trends in the Hematology Analyzers Market

A 3-part differential cell counter utilizes Coulter's Principle to measure cell size and volume. It operates by lysing and dissolving the sample into an electrolyte solution within a container that also houses a smaller compartment. These 3-part hematology analyzer systems are particularly well-suited for use in physician office laboratories, clinics, and small hospitals where moderately complex testing is performed. Although there is growing interest in 5-part hematology analyzers, 3-part models remain cost-effective for routine hematological tests. Moreover, with advancements in technology and the widespread availability of these instruments, combined with their affordability, the market is anticipated to experience significant growth. Convenience and accurate results are two primary drivers behind the segment's growth over the forecast period.

The Ebola Virus is a severe and often fatal condition caused by four different virus species, affecting both humans and non-human primates. Transmission to humans occurs through direct contact with the blood and bodily fluids of infected individuals or deceased victims. The virus induces hemorrhagic fever, resulting in internal and external bleeding and damage to multiple organs. An Ebola outbreak was declared in Uganda on September 20, 2022, and it has since spread to seven regions, including Kasanda, Kyegegwa, Bunyangabu, and Kagadi districts, extending beyond the original epicenter in Mubende district and reaching Kampala City and Wakiso. Consequently, such outbreaks necessitate accurate diagnosis to control disease transmission, which is expected to drive increased demand for 3-part hematology analyzers during the forecast period.

Additionally, initiatives such as product launches are contributing factors to market growth. For example, in April 2022, Sysmex Europe introduced its latest three-part differential automated hematology analyzer, the XQ-320, in Europe. This robust device offers low sample volume requirements, minimal bench space, and reduced maintenance needs. As a result, these factors are poised to fuel market expansion in the foreseeable future.

Key Players in the Hematology Analyzers Market

1. Abbott Laboratories
2. HORIBA Ltd
3. Siemens Healthineers
4. Sysmex Corporation
5. Danaher Corporation

The esteemed organization, Conference Series, renowned worldwide for organizing international events and being a prominent open-access publisher in the field, is excited to unveil the upcoming 20th Global Summit on Hematology and Infectious Diseases. This prestigious event is scheduled to occur in Dublin, Ireland, on June 20-21, 2024. The central theme and primary focus of this conference center on the concept of “Exploring Innovation in Hematology Care"

The conference on the global stage is dedicated to creating a remarkable platform for educators, emerging researchers, and knowledge seekers to come together. It will serve as a stage to present and deliberate upon the most recent advancements, as well as explore the opportunities and challenges that lie within the domains of Hematology and Infectious Diseases.

This international gathering promises to be a significant event where experts and enthusiasts from various corners of the world will convene to share insights, exchange ideas, and foster collaboration. It aims to contribute to the progress and excellence in these critical fields that play a pivotal role in advancing healthcare, pharmaceuticals, and our understanding of the human body.

Mark your calendars and prepare for an enriching experience as we look forward to your participation in the 20th Global Summit on Hematology and Infectious Diseases in the beautiful city of Dublin, Ireland, on June 20-21, 2024. Together, let's explore new horizons in the quest for innovative drug development and healthcare breakthroughs.