Hematology Analyzers and Reagents Market: Technological advancements and Recent Developments

[Snehal Shaha]

Introduction
The rising prevalence of chronic diseases, such as anemia and leukemia, is a major factor driving the growth of the hematology analyzers market. Additionally, the increasing demand for point-of-care testing, which is expected to reduce the time required for diagnosis, is expected to fuel the market growth. Furthermore, technological advancements, such as the introduction of automated hematology analyzers, are also expected to drive the market growth.
Global Hematology Analyzers and Reagents Market Overview
The report Hematology Analyzers and Reagents Market is projected to reach USD 10.6 billion by 2025 from USD 7.6 billion in 2020, at a CAGR of 6.9% during the forecast period.
The increasing incidence of blood disorders and the growth in the number of blood donation are the major factors driving the growth of the global hematology analyzers and reagents market. Technological advancements in hematology analyzers and reagents and the integration of flow cytometry techniques with hematology analyzers are also expected to support the growth of this market during the forecast period.
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Market Segmentation: -
On the basis of products & services, the hematology reagents market is classified into hematology, hemostasis, and immunohematology products & services. The hematology products & services segment is projected to grow at the highest growth rate during the forecast period.
By end user, the hematology analyzers market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research & academic institutes. In 2019, the commercial service providers segment accounted for the largest share of the market due to factors such as the increasing awareness about hematology testing, shift from manual testing to automated testing, and the competitive benefits offered by these providers as compared to hospitals (such as affordable service costs, efficient turnaround time, and efficient management of sample collection).
Regional Analysis: -
North America accounted for the largest share of the market in 2019. This can be attributed to the rising incidence of patients suffering from blood disorders, the growing prevalence of target diseases, and the rising demand for blood transfusions in the region.
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Recent Developments: -
 In February 2018, Sysmex entered into an agreement with McKesson to distribute Sysmex’s XW-100 automated hematology analyzers in the US.
 In September 2017, Sysmex entered into an agreement with Mongolia’s Ministry of Health to provide technological, scientific, and external quality assessment support in the field of blood morphology to raise the accuracy of testing in the Mongolian region.
 Sysmex expanded its direct sales network in the Republic of Ghana (Africa) to reinforce its hematology sales and service structure in the African market.
 In July 2017, Sysmex launched XN-9100, XN-3100, XN-1500, and SP-50 (an automated hematology slide preparation unit).
 In July 2017, Sysmex launched the XN-L automated hematology analyzers in the US.
Top key Players: -
The major players in the global hematology reagents market are Sysmex Corporation (Japan), Abbott Laboratories (US), Danaher Corporation (US), Nihon Kohden (Japan), Siemens (Germany), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US), EKF Diagnostics (UK), Mindray (China), Ortho Clinical Diagnostics (US), and Roche (Switzerland).