Global Blood Cell Analyzer Market: Snapshot
World over, blood cell analyzers have gained prominence for the biochemical analysis of blood components among hospitals, diagnostic centers, pharmaceutical companies in patient care and laboratory settings. They are widely used in detecting common physiological indications for various blood-related disorders and in monitoring the overall health of patients in hospital settings. The rising application of these hematology analyzers in research settings, such as for drug development, is a prominent factor boosting the overall market. The advent of technologically advanced semi-automated and fully-automated cell analyzers with improved precision and accuracy is a key development opening up promising applications of these instruments. The striking precision that automated blood cell counters make differential analysis of the blood components, such as absolute leukocyte count, has boosted their application in patient settings.
The global blood cell analyzer market is estimated be worth US$1,364.2 Mn by 2017 end and is forecast to reach a valuation of US$1,844.9 Mn by 2022 end. The market is estimated to register a CAGR of 6.2% during the assessment period of 2017–2022.
Substantial Demand for Automation in Blood Cell Analyzers to Account for Dominance of Fully Automated Biochemistry
The two main product types of blood cell analyzers are semi-automated biochemistry analyzers and fully automated biochemistry analyzers. Of the two, semi-automated biochemistry segment holds the leading share currently and is expected to retain its dominance throughout the forecast timeline. The fully automated biochemistry analyzer market is expected to be worth US$1,071.1 by 2017 end, representing the major share of 78.5%. The segment is forecast to reach US$1,476.2 Mn by 2022, accounting for the leading share of 80.0% in the market. The segment is projected to rise at a CAGR of 6.6%, growing at US$81 Mn annually over the assessment period. This represents the leading growth in absolute terms. The growth of this segment is expected to be fueled by the burgeoning demand for error-free automated analyzers for rapid biochemical analysis of blood in various parts of the world.
North America Predicted to be Most Attractive Regional Market
The various regional markets for blood cell analyzers are North America, the Middle East and Africa, Asia Pacific excluding Japan, Japan, Europe, and Latin America. Of these, currently North America is the leading market and is anticipated to retain its dominance throughout the forecast period. The North America blood cell analyzer market is projected to rise from a valuation of US$516.9 Mn in 2017 to reach a worth of US$717.5 Mn by the end of 2022. The regional market is projected to rise at a compound annual growth rate of 6.8% during 2017–2022. The vast adoption of automation in hematology in various clinical settings and substantial advancements in physical technologies used for blood cell counters are key factors expected to accentuate the market over the forecast period.
Asia Pacific excluding Japan (APEJ) to rise at Prominent Pace
Asia Pacific is one of the most attractive markets for blood cell analyzers witnessing a burgeoning demand for clinical diagnostics market and drug development in several of its emerging and developed economies. The demand is driven by the rising incidence of chronic diseases, constant advancements in diagnostics instruments, and growing awareness of populations of blood related disorders. Rising at a CAGR of 6.7% from 2017 to 2022, the regional market is forecast to reach US$295.5 Mn by 2022 end.
A number of players are focusing on developing new technologies and are launching advanced automated blood cell analyzers in order to stay ahead of the others. Prominent players operating in the market include Sysmex Corporation, Abbott Laboratories, Danaher Corporation, Siemens Healthcare, Horiba Ltd, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Sigma Aldrich, and Boule Diagnostics AB.
Global Blood Cell Analyzer Market: Overview
The report on the global blood cell analyzer market offers a detailed assessment of key market dynamics, prominent trends, major technological advancements, and key strategies adopted by various players to consolidate their positions. It offers a critical evaluation of the factors driving the growth of major segments and emerging application areas expected to impact the product launches of major players in the coming years. The study offers the share and size of various segments and makes an elaborate comparative analysis of their share over the historical period (2012–2016). Furthermore, it takes a closer look at the market presence of key participants by offering an intuitive intensity map. The findings and the various projections offered in the study help market participants in the formulation of effective strategies and identifying lucrative avenues during the assessment period of 2017–2022.
The global blood cell analyzer market is anticipated to be valued at US$1,364.2 Mn by 2017 end. The market is estimated to register a CAGR of 6.2% during 2017–2022 and is projected to reach a valuation of US$1,844.9 Mn by end of the forecast period.
Global Blood Cell Analyzer Market: Dynamics
The study offers in-depth insights into the prevailing regulatory landscape in various regional markets, the scope of various product segments, and major adoption trends among major end users. The research offers an evaluation of various factors and trends affecting the demand and supply of various product types along the forecast period. It takes a closer look at the market dynamics by analyzing supply chain development, pricing and cost structure, and raw material sourcing strategies.
The pressing need for hematology-based diagnostics in various clinical settings is a key factor propelling the growing demand for blood cell analyzers. The rising application of hematology analyzers in making biochemical analysis in research settings, such as for drug development, and their extensive demand for making differential and total blood count are primary factors boosting the market. The growing number of blood transfusion procedures in emerging and less developed nations, coupled with the growing awareness about blood safety, is expected to stoke their demand.
Global Blood Cell Analyzer Market: Segmentation
The report segments the global blood cell analyzer market based on product type, application, end user, modality, and region. The study provides offers share and size of these segments and presents a detailed revenue comparison across various regions over 2017–2022. Furthermore, year-over-year (YoY) growth during the historical period helps in making reliable projections.
On the basis of product type, the report bifurcates the market into semi-automated biochemistry analyzers and fully automated biochemistry analyzers. Of these, the fully automated biochemistry analyzers segment holds the dominant share and is projected to lead throughout the forecast period.
To offers a granular analysis of various applications, the study segments the market into clinical diagnostics market, drug development, and others. On the basis of end user, the study segments the market into hospitals, diagnostic centers, pharmaceutical companies, biotechnology companies, contract research organizations, and academic research institutes.
On the basis of modality, the study segments the market into bench-top and floor-standing.
The various regional markets profiled in the report are Latin America, North America, the Middle East and Africa Europe, Japan, and Asia Pacific excluding Japan (APEJ). Of these, North America is projected to lead, vis-à-vis revenue, throughout the forecast period.
Companies profiled in the report are:
The report offers an extensive profiling of various players and assesses competitive intensity in the market by analyzing primary strategies adopted by them to gain a better foothold. Prominent players profiled in the study are CellaVision AB, Sysmex Corporation, Abbott Laboratories, Danaher Corporation, Siemens Healthcare, Horiba Ltd, Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, Sigma Aldrich, and Boule Diagnostics AB.