The global hematology market is forecasted to hike at a vibrant CAGR of 8.2% during the forecast period.
Hematology is a medical science branch concerned with diagnosing, treating, and studying blood and disorders associated with blood. It includes treating blood disorders such as leukemia, malignancies, and kinds of hemophilia, sickle-cell anemia, and lymphoma.
MARKET DRIVERS:
Y-O-Y increase in the prevalence of blood disorders is majorly promoting the global hematology market growth.
Blood disorders became a worldwide health issue with different causes and are related to high mortality. Blood disorders, like anemia, blood cancer, hemorrhagic conditions, and blood infections, affect many people annually across all age groups. According to WHO, insufficient hemoglobin affects 75% of births globally, and sickle cell trait affects an estimated one in 12 African Americans. Over 70% of all sickle-cell affected births occur in Africa. As per the WHO, the prevalence of anemia in children is 47% and 13% in men, and it is increasing rapidly all over the world. According to the National Institute of Health (NIH), anemia affects 29% of women of reproductive age and 38% of pregnant women worldwide.
The rising number of blood donation camps worldwide is a significant factor propelling the hematology market's demand. Increasing incidences of chronic diseases are also driving the growth of the market. The growing geriatric population is additionally accelerating the need of the market. The growing prevalence for point of care testing devices is to set up growth opportunities for the market. Increasing support from the government through investments is significantly influencing the growth of the hematology market. People's interests in cost-effective diagnosis procedures are boosting up the development of the market.
MARKET RESTRAINTS:
However, lack of sufficient knowledge over the utilization of the devices in rural areas is slowly hindering the market demand. The high cost of installing and maintaining the equipment, especially in laboratories, is challenging for the hematology market.
Impact of COVID-19 on the global hematology market:
COVID-19 infection mostly affects the respiratory system. The PCR tests are currently being used to detect an antigen's presence, with several stages at which errors may occur between sampling and analysis. The hematology analyzers help provide an accurate presentation of reactive lymphocytes that play a critical role in the management of COVID-19 patients, which has created an acceleration in the growth rate of the global hematology market. Some diagnoses of COVID-19 infection emphasize markers derived from the hematology laboratory, the US, and many other countries face a major health concern with the coronavirus's current outbreak (COVID-19). However, the COVID-19 has widened the growth scope for the global hematology market, and this market is expected to experience new growth heights in the near future.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Segments Analysed |
By Product, Application, End-User, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East, and Africa |
The research report on the global hematology market has been segmented and sub-segmented based on the product, application, end-user, and region.
Hematology Market – By Product:
Based on product, Hematology Analysers product type is holding prominent shares of the market. Increasing incidences of road accidents due to which there is a rise in the demand to store blood, which can be used in emergency cases, significantly influences the market's growth.
Hematology Market - By Application:
Based on the application, the Infectious diseases application segment leads with the highest shares of the market due to the increasing incidences of various health disorders. Also, the rise in healthcare centers' spending is making the market shares expand in foreseen years.
Hematology Market - By End-User:
Based on End-User, Hospitals's end-user category is holding with dominant shares of the market. Growing constructional activities of hospitals due to the increasing flow of patients with varied diseases is accelerating the growth of the market. The rising prevalence for minimally invasive surgeries to cure the diseases more effectively with available treatment options is ascribed to bolster the demand of the market.
Hematology Market - By Region:
Geographically, the North American market accounted for the largest share of the global hematology products and services market in 2019, followed by Europe. Some of the factors such as the rising incidence of patients suffering from blood disorders, high number of patients with blood coagulation disorders, growing prevalence of target diseases, and blood transfusions are increasing hematology testing in North America. Asia Pacific is predicted to have a fast CAGR in the coming years. The rise in per capita income leading to an increase in the adoption of therapy products and diagnostic coupled with government initiatives to improve healthcare infrastructure are expected to fuel the regional market growth.
Following North America, Asia pacific is the one leading the highest shares of the market. The increasing population is magnifying the demand of the market. Besides, increasing awareness over-utilizing the latest technology is leveraging this market's growth in this region. Europe is growing faster from past years and will continue to have the same growth rate in foreseen years. The replacement of traditional testing devices with modern devices is broadening the demand of the market. The Middle East and Africa are deemed to an inclined growth rate in the near future.
KEY MARKET PARTICIPANTS:
Some of the major companies dominating the global hematology market profiled in this report are Siemens AG Healthcare, Johnson & Johnson, Beckman Coulter, Inc., Abbott Laboratories, Thermo Fisher Scientific, Roche, HORIBA Ltd., Sysmex Corporation, Bio-Rad Laboratories Inc., Boule Diagnostics AB, Mindray Medical International Limited.
HAPPENINGS IN THIS MARKET IN THE RECENT PAST:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Products
5.1.1 Introduction
5.1.2 Hematology Analyzers
5.1.3 Hematology reagents
5.1.4 Flow cytomers
5.1.5 Hematology cell counters
5.1.6 Slide stainers
5.1.7 Coagulation Analyzers
5.1.8 Hematology testing
5.1.9 Centrifuges
5.1.10 Hemoglobinometers
5.1.11 Others
5.1.12 Y-o-Y Growth Analysis, By Products
5.1.13 Market Attractiveness Analysis, By Products
5.1.17 Market Share Analysis, By Products
5.2 Application
5.2.1 Introduction
5.2.2 Infectious diseases
5.2.3 Cancer
5.2.4 Cardiovascular diseases
5.2.5 Blood Screening
5.2.6 Diabetes
5.2.7 HIV
5.2.8 Autoimmune disorders
5.2.9 Others
5.2.10 Y-o-Y Growth Analysis, By Application
5.2.11 Market Attractiveness Analysis, By Application
5.2.12 Market Share Analysis, By Application
5.3 End users
5.3.1 Introduction
5.3.2 Hospitals
5.3.3 Clinics
5.3.4 Diagnostic Laboratories
5.3.5 Research and development centers
5.3.6 Others
5.3.7 Y-o-Y Growth Analysis, By End users
5.3.8 Market Attractiveness Analysis, By End usersd
5.3.9 Market Share Analysis, By End users
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.4 Market Attractiveness Analysis
6.1.5 Market Share Analysis
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Siemens AG Healthcare
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Johnson & Johnson
8.3 Beckman Coulter, Inc.
8.4 Abbott Laboratories
8.5 Thermo Fisher Scientific
8.6 Roche
8.7 HORIBA Ltd.
8.8 Sysmex Corporation
8.9 Bio-Rad Laboratories Inc.
8.10 Boule Diagnostics AB
8.11 Mindray Medical International Limited
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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