Europe Hematology Market Overview
The Europe hematology market size was valued at USD 2,226.74 million in 2022 and is expected to reach USD 3,562.89 million by 2030, exhibiting a CAGR of 6.2% during the forecast period (2023-2030). Hematology is the study of blood and blood-related conditions, and hematologists and hematopathologists are medical experts in blood and blood component disorders.
Hematological conditions are those involving blood cells and bone marrow. Hematological testing can identify anemia, infections, hemophilia, blood-clotting issues, and leukemia.
Source: DataM Intelligence Analysis (2022)
Europe Hematology Market Dynamics and Trends
The increasing prevalence of chronic disorders is a major factor driving the Europe hematology market growth. More product launches and product approvals would fuel market expansion and technological advancements in the hematological analysis are predicted to accelerate market growth.
More product launches and product approvals are expected to drive the market growth.
Product launches and approvals by key players have fueled market growth. For instance, in December 2022, according to a statement issued by Sobi and ADC Therapeutics SA, the European Commission (EC) granted conditional marketing authorization for the use of Zynlonta (loncastuximab tesirine) for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL). The approval follows a favorable recommendation from the European Medicines Agency's Committee for Medicinal Products for Human Use in September (EMA). The clearance was given based on the findings of LOTIS-2, a significant (n=145) phase 2 multinational, single-arm clinical study of Zynlonta for treating adult patients with relapsed or refractory DLBCL after two or more prior lines of systemic therapy.
Moreover, in November 2022, according to a release from BeiGene, a prominent biotechnology company, BeiGene received authorization from the European Commission (EC) for its BRUKINSA (zanubrutinib) for the treatment of adult patients with relapsed/refractory (R/R) marginal zone lymphoma (MZL) who have received at least one prior anti-CD20-based therapy. The license applies to all 27 European Union nations (EU), Iceland, and Norway.
The high cost of the instruments and its low adoption are expected to hamper the market’s growth.
However, the high price of the instruments and the limited adoption of hematology analyzers in emerging nations are expected to restrain market growth in the near future. For instance, Bestran Technology Hematology Analyzer costs around 4 344 US$, BIO-RAD Variant 2 upgraded Turbo Chemistry Analyzer, costs around 4 000 US$, leaving a majority of middle and lower middle-class customer pool behind, leading to low adoption rates thereby negatively impacting the market growth in the forecast period.
COVID-19 Impact on Europe Hematology Market
The COVID-19 epidemic is expected to significantly impact the hematology market, as there was an increased focus on hematology parameters during COVID-19 assessment, and many hospitals and clinics are now implementing technologies like hematology analyzers to test and monitor COVID-19 patients. According to a study published in the International Journal of Laboratory Hematology, 2020, a clinical hematology laboratory is essential in providing several beneficial prognostic markers such as lymphopenia, neutrophilia, leukocytosis, and thrombocytopenia, which are common findings in patients infected with the SARS-CoV-2 virus.
Hematological changes such as variance in blood cell, proteins and other constituent count can occur, and are frequently present in infections with the SARS-CoV-2 virus and with other infectious diseases like influenza, varicella, dengue, acquired human immunodeficiency virus (HIV), SARS-CoV, and MERS-CoV. These changes could improve the monitoring of infectious processes or signal a suspicion of their severity. Since the hematopoietic system and hemostasis suffer major effects during the evolution of COVID-19, the laboratory abnormalities and notable hematological alterations allow determining the status of SARS-CoV-2 infection.
Europe Hematology Market Segment Analysis
The hematology analyzer segment is expected to grow at the fastest CAGR during the forecast period (2023-2030)
The hematology analyzer segment is estimated to hold a large market share, as these analyzers are important in carrying out blood tests such as compete blood count, hemoglobin count, platelets count, white blood cells count, and estimation of other blood components. Moreover, new product launches and technological advancements in hematology analyzers are expected to drive segment growth over the projected period.
For instance, in April 2022, Sysmex Europe launched the XQ-320 XQ-Series Automated Hematology Analyzer, a new three-part differential system, to meet the demands of this large, high-volume market area. The XQ-320 is a dependable instrument with reasonable bench space, sample volume, and maintenance needs. It is very easy to use, offers quick user login through a barcode and quick start, and promptly delivers the data so medical staff may focus on the patient.
Source: DataM Intelligence Analysis (2022)
Europe Hematology Market Geographical Share
Germany holds the largest market share in the Europe hematology market.
Germany holds a dominant position in the Europe hematology market due to its large population, excellent medical infrastructure, and high-income levels. Germany is expected to witness significant expansion in the hematology market over the next years as a result of increased frequency of blood diseases such as anemia and the nation's technological advancements.
The prevalence of anemia among women of reproductive age (% of women of age 15–49) in Germany was 11.7% in 2019, according to the World Bank's collection of development indicators, which was put together from officially recognized sources. Germany's prevalence of anemia among women of reproductive age (% of women of age 15–49): actual statistics, historical data, predictions, and estimates were collected from the World Bank in January 2023. The prevalence of anemia among women of reproductive age is defined as the proportion of non-pregnant women with hemoglobin levels below 12 g/dL and pregnant women below 11 g/dL.
Source: DataM Intelligence Analysis (2022)
Europe Hematology Companies and Competitive Landscape
The hematology market is moderately competitive with local and Europe companies’ presence. A few of the key market players are Shenzhen Mindray Bio-Medical Electronics Co.Ltd., Danaher, Bio-Rad Laboratories, Inc., Abbott, EKF Diagnostics Holdings plc, HORIBA Medical, Diatron, Biosystems S.A., Siemens, and NIHON KOHDEN CORPORATION among others. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth.
Abbott Laboratories
Overview: Abbott Laboratories is an American multinational medical device and healthcare company that explores, develops, manufactures, and sells a broad and diversified line of healthcare products. It split off its research-based pharmaceuticals business into AbbVie in 2013. It benefits through the following segments: established pharmaceutical products, nutritional products, diagnostic products, cardiovascular and neuromodulation products, and others. Its well-known products across the medical devices, diagnostics, and nutrition divisions are Pedialyte, Similac, Ensure, Glucerna, ZonePerfect, FreeStyle Libre, i-STAT, and MitraClip. Approximately 109,000 colleagues serve people in more than 160 countries.
Product Portfolio:
CELL-DYN Sapphire: CELL-DYN Sapphire’s trusted analysis software helps focus on the most important part of work: supporting excellent patient care. Behind every sample is an anxious patient or family awaiting a decision. It helps achieve accurate first-pass results because there is little room for error, whether the decision contributes to a diagnosis, change in therapy, or transfusion. By helping reduce sample reruns, reflex testing, turnaround time, and smear review rates, the CELL-DYN Sapphire maximizes productivity and lowers laboratory costs. With the ability to perform 105 compete blood counts (CBC) per hour, the consumer can process a full range of normal to abnormal patient samples in the laboratory.
The Europe Hematology market report would provide access to approx.: 45+market data tables, 40+ figures, and 200 (approximate) pages.
