The Global Hematology Market Growth is Accelerated by Rise in Blood Disorder Cases

Hematology Market


Hematology is the branch of medicine concerned with the study, diagnosis, treatment, and prevention of diseases related to blood, bone marrow, and the immunologic and hemostatic systems. Products associated with the hematology market include hematology analyzers, flow cytometers, coagulation analyzers, and centrifuges which help clinicians to diagnose and monitor various blood related diseases. These products help analyze parameters like complete blood count, blood cell maturation stages, hemoglobin, hematocrit, blood clotting, and platelet count. The growing prevalence of various blood disorders such as anemia, blood cancer, hemophilia, thalassemia and others has increased the demand for effective diagnosis and treatment, driving the need for advanced hematology products.

The global Hematology Market is estimated to be valued at US$ 2.53 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rise in blood disorder cases is one of the key trends driving the growth of the hematology market. According to the World Health Organization, blood disorders affect millions of people worldwide and were responsible for around 857,000 deaths in 2017. Diseases such as anemia, which impact nearly a third of the global population, and blood cancers which account for around 10% cancer deaths, have seen a significant rise in prevalence rates. This has increased the demand for advanced hematology products to screen, diagnose and monitor such disorders. The growing geriatric population also contributes as age related conditions make older adults more susceptible to blood diseases. Improved accessibility to diagnostic tests and rising healthcare expenditure in developing nations are also helping hematology market expand.

Segment Analysis

The global hematology market can be segmented based on products like hematology analyzers, stains, flow cytometers, and others. Hematology analyzers dominate the market as they are widely used for testing and diagnosis of various blood-related disorders. Moreover, technological advancements like automating processes, connectivity options, and easy integration with laboratory information system have increased adoption of hematology analyzers.

Key Takeaways

The global hematology market is expected to witness high growth over the forecast period of 2024 to 2031. Global Hematology Market Demand is estimated to be valued at US$ 2.53 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period 2024 to 2031.

The North America region currently dominates the hematology market due to growing prevalence of blood-related diseases, developed healthcare infrastructure, favorable reimbursement policies, and presence of major market players in the region. However, Asia Pacific is expected to grow at the fastest pace during the forecast period. Growing geriatric population, increasing healthcare spending, and rising awareness about early disease diagnosis are some factors driving market growth in Asia Pacific.

Key players

Key players operating in the hematology market are Shaanxi Undersun Biomedtech Co., Ltd., Tocris Bioscience (Bio-Techne Corporation), BioOrigin, Nature's Sunshine Products, Inc., Organic Herb Inc., Damin Foodstuff (Zhangzhou) Co., Ltd., Nutra Green Biotechnology Co., Ltd., Xian Yuensun Biological Technology Co., Ltd., Guangxi Yiyuan Biotechnology Co., Ltd., Changsha Heking Bio-Tech Co., Ltd., Hangzhou Botanical Technology Co., Ltd., Novoherb Technologies, Jiangsu Changhai Food Additive Co., Ltd., Xian Sost Biological Science & Technology Co., Ltd., Xi'an Plant Bio-Engineering Co., Ltd.

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