- Rising prevalence of blood related diseases is estimated to substantially impact the market growth positively.
- Based on end user, the hospitals segment is anticipated to observe the highest growth.
- Low reimbursement rates decrease the number of doctors accepting Medicaid patients, which tends to restrict market growth.
Hematology diagnostics is a fast and efficient technique for measuring blood cell count for red blood cells, white blood cells, platelets and other components of blood in order to detect and identify blood related disorders.
The market for hematology diagnostics is projected to grow with a CAGR of 6.06% during the forecast period of 2020-2027 due to rising demand for advanced medical diagnostic technologies all around the world. The market is segmented by product, by portability, by application, by end user and by region, out of which, the end user segment is segmented into hospitals, diagnostic labs, ambulatory surgical centers (ASCs), clinics and others. Based on end user, the hospitals segment is anticipated to observe the highest growth as a result of larger patient influx in hospitals as compared to other healthcare facilities.
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Geographic Regions
The global hematology diagnostics market is segmented by regions into North America, Latin America, Europe, Asia-Pacific and Middle East and Africa. The market in North America held the leading share of 37.94% in the hematology diagnostics market in 2018. The growth can be attributed to increasing investments in healthcare industry by the government as well as private institutions for the maintenance of high quality healthcare at facilities. The market in Asia Pacific is anticipated to grow at the highest rate over the forecast period on account of growing number of manufacturers in the industry and rising awareness about improved healthcare in the region.
Market Expansion
According to UNAIDS, there were about 37.9 million people living with HIV in 2018, out of which, 36.2 million were adults and 1.7 million were children under the age of 15 years The rising prevalence of disorders such as AIDS, leukemia, malaria, diabetes and anemia among other blood related diseases is estimated to substantially impact the market growth positively. Further, the increasing number of procedures that require effective utilization of medical devices resulting in the advancements in medical technology is anticipated to increase the market growth over the forecast period. However, the strict government policies and regulations that lead to low reimbursement rates and decrease in number of doctors accepting Medicaid patients is estimated to restrict the market growth.
Key Players
This report also provides the existing competitive scenario of some of the key players of the global hematology diagnostics market which includes company profiling:
F. Hoffmann-La Roche Ltd (SWX: ROG), Abbott (NYSE: ABT), Sysmex (TYO: 6869), Beckman Coulter, Inc. (NYSE:BEC), Siemens Healthineers AG (ETR: SHL), Boule Diagnostics A (STO: BOUL), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (SHE: 300760), Bio-Rad Laboratories, Inc. (NYSE: BIO) and Cellavision (STO: CEVI).
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The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global hematology diagnostics market which will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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