The global hematology analyzers and reagents market size was worth US$ 7,879.0 billion in 2020 and further predicted to reach US$ XX million by 2028, at a CAGR of 6.7% during the forecast period (2021-2028).
Hematology involves the science or investigation of blood cells and coagulation. Blood testing is essential for the usual physiological symptoms, such as infections, anemia, autoimmune disorders, diabetes, and cancer. Blood analysis or examination often reveals genetic data, organ defects, viruses, and so on. Hematology analyzers are commonly available to analyze blood and blood-related issues and take the form of simple handheld photo-optical equipment, advanced diagnostic point-of-care tools, and a highly automated or complex test facility analyzer.
The rates for automated hematology Instruments coupled with the preferences for high-sensitivity point-of-care (POC) hematology tests are expected to drive the market for hematology analyzers and reagents during the forecast period. In addition, rapid technological advances such as the implementation of basic flow cytometry techniques and the growth of high throughput hematology analyzers are expected to have a high impact on this industry's drivers.
With globally rising infections of COVID-19, the apprehension of the lack of vital life-saving equipment and other essential medical supplies to prevent the spread of this pandemic is also widening and providing optimal treatment for the infected. In addition, before pharmacological therapy is established, ventilators serve as a crucial treatment choice for COVID-19 patients who may need critical care. Also, there is an immediate need for rapid acceleration of a wide variety of test kits in the manufacturing process (antibody tests, self-administered, and others). The study will account for COVID-19 as a primary contributor to the industry.
Market Dynamics
Drivers
- Increasing Incidence of Hematologic Diseases
- Technological Advancements in Hematology Analyzers
- Rising Awareness About Blood Donations
- Rising Adoption Rates of Automated Hematology Instruments
Restraints
- High Cost of Hematology Analyzers
- Potential Failure of Wrong Results
Rising Adoption Rates of Automated Hematology Instruments
The rates for automated hematology Instruments coupled with the choices for high-sensitivity point-of-care (POC) hematology tests are expected to drive the market for hematology analyzers and reagents during the forecast period.
The need for rapid point-of-care (POC) diagnostics is now becoming more evident due to the increasing need for timely results and improvement in healthcare service.
Complete blood count (CBC) has not been available at the POC in a simple-to-use device until recently. The HemoScreen, which the FDA recently cleared for POC use, is a miniature, easy-to-use instrument that uses disposable cartridges and may fill this gap.
The HemoScreen analyzer demonstrates equivalent lab performance, tested at different clinical settings and sample characteristics, and might outperform standard techniques in the presence of certain interferences. This new approach to hematology testing has great potential to improve the quality of care in various settings.
The increasing technological development such as the expansion of high throughput hematology analyzers and the introduction of basic cytometry techniques analyzers.
The hematology analyzers and reagents market see an increased interest in vendors who can offer automation and scalability of instruments. Some vendors have developed their imaging instruments to add to their portfolio of hematology products, giving them a significant competitive lead.
Geographical Analysis
The Middle East & Africa hematology analyzers and reagents market was valued USD 509.0 million in 2020 and is estimated to reach USD XX million by 2028, at a CAGR of 5.9% during the forecast period (2021-2028).
Middle East & Africa is projected to witness swift growth during the forecast period owing to the rising healthcare expenditure coupled with the focus on quality healthcare infrastructure.
Hematology is a common genetic blood disorder. In some regions of the Middle East, more than 10% of the population are carriers of a gene for hematology. This factor will create a high chance of people suffering from this disorder in the region.
The Saudi Cancer Registry ranked leukemia as the 5th type of cancer case among both genders in Saudi Arabia. A total of 8712 incidents of leukemia were analyzed in a study in Saudi Arabia, 57.2% were males, and 42.8% were females. About 33.6% of cases were from the middle region of Saudi Arabia.
The most diagnosed type of leukemia was the Precursor B-cell lymphoblastic leukemia (18.7%), followed by Precursor cell lymphoblastic leukemia, NOS (17.3%), with an equal percentage of reported cases between males and females in these subsets.
Ove a term of 15 years, the trend of leukemia showed the possibility of a rate increase, particularly in males, with the highest percentage reported from the central region of Saudi Arabia, which creates a lucrative market opportunity for the key players operating in the region.
There is a vast network of hospitals that operate in hematology in the region. For instance, Mediclinic Middle East operates seven hospitals in the UAE with over 900 inpatient beds, including the newly-opened Mediclinic Parkview Hospital in Dubai and more than 19 clinics in Dubai, Abu Dhabi, Al Ain and Al Dhafra.
Today, in Africa, the spectrum of blood diseases is largely similar to that of the rest of the world. Still, disease presentation may be considerably modified by socio-economic and cultural factors.
Anemia is widespread in Africa and affects more than 70% of young children and more than 45% of women in countries such as Côte d'Ivoire, The Gambia or Malawi. Iron deficiency often concerns more than half of young children except in Kenya, but less so in women, except in Egypt, as prevalence remains 18%.
Early diagnosis and treatment are the best ways to protect the quality of life for a patient with a blood cell disorder. Hence, the increasing burden of blood disorders is likely to drive the Middle East & Africa markets.
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