Hematology Diagnostics Market Size was valued at USD 6.405 billion in 2023. The hematology diagnostics market industry is projected to grow from USD 6.725 billion in 2024 to USD 8.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.27% during the forecast period (2024 - 2032). The hematology diagnostics market is expected to rise significantly because of the rising prevalence of blood disorders. Other vital factors like an increase in the majority of genetic diseases, the rise in hematological testing, growing blood transfusions and donations, and increasing adoption of automated hematology analyzers are the key market drivers contributing towards the hematology diagnostics market growth.
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
The increased prevalence of blood disorders is the main factor fueling the expansion of the hematology diagnostics market. The aging population will probably continue to fuel market expansion. Increasing consumer awareness of blood diseases is anticipated to significantly boost the market growth. In the upcoming years, the players competing in the hematology diagnostics market may benefit significantly from increased investment in research & development activities to produce new diagnostic solutions. A prominent factor propelling the expansion of the hematology diagnostics market is the rise in the number of people affected by blood illnesses. The demand for hematology diagnostics has increased as blood illnesses like anemia, thalassemia, and hemophilia are becoming more common. According to National Institutes of Health data, anemia affects roughly 29% of women and 38% of pregnant women each year (NIH). Also, because they may accurately detect diabetes, hypotension, and hypoglycemia, all of which are characterized by elevated blood glucose levels, hematologic tests are becoming more and more common in countries with a substantial diabetic population. During the anticipated time, it is anticipated to increase market revenue.
The hematology diagnostics market segmentation based on product type is divided into sub-segments Hematology Analyzer, Flow Cytometer, Consumable. The Hematology Analyzers segment is projected to maintain its dominance over the forecast period. This might be ascribed to increased demand for consumables in diagnosing blood diseases and other infections. In addition, increasing test volume owing to rising awareness and early detection is also fueling the segment's growth. The instrument segment is further subdivided into analyzers, flow cytometers, and others. In 2022 segment revenue was dominated by analyzers. Technological advancements and increasing automation are anticipated to be the primary growth to the hematology diagnostics market revenue.
November 2022 Luspatercept can improve red blood cell transfusion independence (TI) in patients with myelodysplastic syndromes (MDS) with ring sideroblasts who did not respond to an erythropoiesis-stimulating agent (ESA). Still, the duration of the benefit has been undermined. Longer follow-up (median >2 years) of the phase 3 MEDALIST trial now reports that the benefits of luspatercept grew over time.
August 2022 Mitapivat is a small molecule that activates red blood cell pyruvatekinase, an enzyme that produces energy from adenosine triphosphate. In a small research involving 20 patients with non-transfusion-dependent thalassemia, mitapivat was linked to increases in hemoglobin in 16, including all five participants with alpha thalassemia and 11 of 15 with beta thalassemia.
The hematology diagnostics market data has been based on test type; the hematology diagnostics market is divided into Hemoglobinopathy, Leukemia Phenotyping. The hemoglobinopathy held the most significant market share in terms of revenue in 2017 and is expected to grow at a profitable CAGR throughout the projected period Several conditions, such as anemia, allergy, vitamin and iron deficiencies, and infections, are easily diagnosed through these tests. Abnormal CBC results from rapid other non-hematological confirmatory tests may diagnose long-term conditions, acute infectious diseases, blood cancers, bone marrow and autoimmune disorders, liver and spleen diseases, and other malignancies.
Figure 1 Hematology Diagnostics Market, by Test, 2023 & 2030 (USD Billion)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Hematology Diagnostics End-use Insights
The hematology diagnostics market segmentation, based on end-use, the hematology diagnostics industry is divided into Hospitals & Clinics, Diagnostic Laboratories. In 2022, the ho Hospitals & Clinics spital end-use segment dominated. On the other hand, it is projected that the diagnostics labs segment will expand rapidly over the forecast period. The increasing number of diagnostic centers and availability of advanced instruments are anticipated to fuel the hematology diagnostics industry. Furthermore, the automation of diagnostic devices is projected to reduce the cost of these tests and increase the demand.
November2022 Hematologists investigate blood disorders' causes, symptoms, and treatment. Diseases and cancers of the blood and related tissues are the focus of hematology, a medical specialty. The rising prevalence of blood disorders such as leukemia, lymphoma, and sickle cell anemia drives the growth opportunity of the hematology diagnostics industry.
Hematology Diagnostics Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America Hematology Diagnostics Market accounted for USD 6.1 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing incidence of the rise in hematological testing, growing blood transfusions and donations and increasing adoption of automated hematology analyzers are contributing towards the growth of the hematology diagnostics market across the Region.
Further, the significant countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3 HEMATOLOGY DIAGNOSTICS MARKET SHARE BY REGION 2023 (%)
Source Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's Hematology Diagnostics Market accounts for the second-largest market share due to the increasing hematology research and government initiatives within this region influences the growth of hematology diagnostics market in this region. Further, the Germany Hematology Diagnostics Market held the largest market share, and the UK Hematology Diagnostics Market was the fastest-growing market in the European Region.
The Asia-Pacific Hematology Diagnostics Market is anticipated to drive the fastest CAGR. The hematology diagnostics market is expected to witness growth owing to the rising prevalence of blood disorders and genetic diseases initiatives to improve healthcare infrastructure are expected to fuel the regional market growth.
However, the Middle East and Africa account for a minor share of the hematology diagnostics market due to the strict government regulations and undeveloped economies. Nonetheless, the market is anticipated to expand due to significant investments made by private players in the Middle East hematology diagnostics market. Also, the growing prevalence of genetic blood disorders and rising government measures to enhance the Region's healthcare system contribute to the growth of the hematology diagnostics market.
Hematology Diagnostics Key Market Players& Competitive Insights
Major market players in Hematology diagnostic providers are investing in the research & development of innovative diagnostic solutions to improve their market position and increase revenue. Hematology diagnostic products to strengthen their market presence and sales revenue. Hematology diagnostic companies also concentrate on setting up new centers to deploy new diagnostic solutions.
The Hematology diagnostics industry is developing several automation devices to ease the workload and produce effective outcomes. Key players perform in-depth market development and implement several marketing techniques to upsurge the market. Moreover, market players are involved in innovating new products and enlarging distribution networks in the hematology diagnostics industry. The hematology diagnostics market major players include Beckman Coulter, Inc.; Siemens Healthineers; Mindray Medical International Limited; F. Hoffmann-La Roche Ltd.; and Sysmex Corporation. New product developments, mergers and acquisitions, and collaborations are effective strategies these players adopt to counter stiff competition.
Suburban Diagnostics, a premier medical diagnostics industry, announced the opening of its Centre of Excellence in Hematology. The new facility offers research support and training in diagnostic procedures for numerous common and uncommon hematological disorders.
The XQ-320 and XQ-Series are among the new system introduced by Symex Corporation. These systems are automated and equipped with a multi-feature to fulfill the requirement of healthcare laboratories.
Mindray Medical International Limited is a Chinese multinational medical instrumentation manufacturer based in Shenzhen, Guangdong. Mindray designs and produces medical equipment and accessories for human and veterinary use. Mindray, a healthcare device developer, introduced its latest BC-700 series. This hematology analyzer series can incorporate erythrocyte sedimentation rate and complete blood test count.
Key Companies in the Hematology Diagnostics Market include
Hematology Diagnostics Industry Developments
In April 2022, Sysmex Europe introduced the XQ-320 XQ-Series Automated Hematology Analyzer, a three-part differential system with a wide range of capabilities created to serve a variety of laboratories within healthcare facilities.
In March 2022, Mindray introduced the new BC-700 Series, a cutting-edge hematology analyzer series that includes both CBC and ESR tests.
| Report Attribute/Metric | Details |
| Market Size2023 | USD 6.405 billion |
| Market Size 2024 | USD 6.725 billion |
| Market Size 2032 | USD 8.7 billion |
| Compound Annual Growth Rate (CAGR) | 3.27 %(2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018 – 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Tests, and End-user |
| Geographies Covered | North America, Europe, AsiaPacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Sysmex (Japan), Danaher (US), Nihon Kohden (Japan), Siemens (Germany), Abbott Laboratories (US), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US) EKF Diagnostics (UK), Mindray (China), Ortho Clinical Diagnostics (US), Roche (Switzerland |
| Key Market Opportunities | Rising prevalence of blood disorders Technological advancements |
| Key Market Dynamics | Increase in the majority of genetic diseases The rise in hematological testing Growing blood transfusions and donations  |
Hematology Diagnostics Market Highlights:
Frequently Asked Questions (FAQ) :
The Hematology Diagnostics Market size was valued at USD 6.405 Billion in 2023.
The market is projected to grow at a CAGR of 3.27 % during the forecast period, 2024-2032.
North America had the largest share of the market
The key players in the market are Sysmex (Japan), Danaher (US), Nihon Kohden (Japan), Siemens (Germany), Abbott Laboratories (US), Boule Diagnostics (Sweden), HORIBA (Japan), Bio-Rad Laboratories (US), BioSystems (Spain), Diatron (Hungary), Drew Scientific (US).
Critical factors like an increase in the prevalence of genetic diseases, the rise in hematological testing, growing blood transfusions and donations, and increasing adoption of automated hematology analyzers are contributing to the market's growth.
The hospitals & clinics segment is expected to register significant growth in the hematology diagnostics market in the coming years.
Research Analyst Level I He is an extremely curious individual currently working in healthcare and medical devices domain. kinjoll is comfortably versed in data centric research backed by healthcare educational background. he leverages extensive data mining and analytics tools such as primary and secondary research, statistical analysis, machine learning, data modelling. his key role also involves technical sales support, client interaction and project management within the healthcare team. lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.
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