The Increasing Rise of Blood-Related Disorders in the World Is Boosting the Growth of the Global Hematology Market

 

Hematology Market

Hematology Market, by Product Type (Hematology Analyzers, Flow Cytometers, Coagulation Analyzers, Slide Stainers, Centrifuges, Hemoglobinometers, and Others), by Reagent (Coagulation Reagents, Flow Cytometers Reagents, Immuno-hematology Reagents, and Others), by Application (Auto Immune Disease, Cancer, Diabetes Mellitus, Infectious Disease, and Others) by End User (Hospitals and Clinics, Research Institutes, and Others) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 - 2027.

Market Overview:

Hematology is a vital branch of medicine that focuses on the study and treatment of blood disorders. It plays a crucial role in diagnosing and managing conditions such as anemia, leukemia, and lymphoma. Hematologists utilize specialized laboratory tests and diagnostic techniques to analyze blood samples and identify abnormalities.

Competitive Landscape:

Major players operating in the global Hematology Market include Nihon Kohden Corporation, Sigma Aldrich Co., Bio Rad Laboratories, Roche Diagnostics, Siemens Healthcare, Mind ray Medical International Limited, Boule Diagnostics AB, Horiba, Ltd., Beckman Coulter, Sysmex Co., and Abbott Laboratories.

Key Market Drivers:

The rising incidence of blood-related disorders, such as anemia, hemophilia, and various forms of cancer (leukemia and lymphoma), is expected to augment the growth of the global hematology market. The aging population, environmental factors, and lifestyle changes contribute to the increased prevalence of these conditions. For instance, according to the U.S. Center for Disease Control and Prevention, around 100,000 Americans are living with sickle cell disease (SCD).

Advances in hematology instruments, such as automated analyzers, flow cytometers, and molecular diagnostic tools, have revolutionized the field of hematology. These technological innovations enable faster and more accurate diagnosis, improved treatment monitoring, and enhanced patient care.

The demand for point-of-care testing (POCT) in hematology has witnessed substantial growth. POCT provides rapid and convenient access to hematology testing, especially in remote and resource-limited settings. The need for immediate diagnosis and quick treatment decisions fuels the adoption of POCT devices, contributing to market expansion.

Pharmaceutical companies and research institutions are increasingly investing in R&D activities to develop novel therapies and diagnostic tools for blood disorders. These investments are estimated to enhance the growth of the global hematology market, fostering the development of advanced treatments and diagnostic techniques.

Covid-19 Impact Analysis:

Despite the challenges faced by the global Hematology Market during the COVID-19 pandemic, there was an increased focus on critical hematology conditions, particularly those associated with COVID-19 complications. Researchers and healthcare providers prioritized the study and management of coagulation disorders, thrombocytopenia, and other hematological manifestations of the virus. For instance, in May 2020, Beckman Coulter introduced a new hematology analyzer called the DxH 690T

Key Takeaways:

·        North America is expected to dominate the growth of the global Hematology Market, owing to the presence of well-established healthcare infrastructure, significant R&D activities, and high awareness about advanced diagnostic and treatment options for blood disorders. For instance, in June 2022, Thermo Fisher Scientific Inc. launched two new blood tests called EliA Rib-P and EliA RNA Pol III in order to aid the diagnosis process of Systemic Sclerosis and Systemic Lupus Erythematosus (SLE).

·        The Asia Pacific is estimated to witness high growth in the global hematology market, owing to the rising prevalence of blood disorders, improving healthcare infrastructure, increasing healthcare expenditure, and a growing focus on early disease detection and treatment. For instance, according to the National Institutes of Health (NIH), around 9000 children get diagnosed with leukemia every year in India.