Hematology Analyzers and Reagents Market Size, Share, Analysis, Growth, 2032

Hematology Analyzers and Reagents Industry Prospective:

The global hematology analyzers and reagents market size was evaluated at $8 billion in 2023 and is slated to hit $16 billion by the end of 2032 with a CAGR of nearly 7.20% between 2024 and 2032.

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Hematology Analyzers and Reagents Market: Overview

Hematology analyzers are advanced equipment that find large-scale applications in clinical labs for counting & identifying various kinds of blood cells. The fundamental kinds of hematology analyzers include 5-part differential cell counters and 3-part differential cell counters. Moreover, hematology reagents are vital components utilized in analyzing blood cells with the help of hematology analyzers. The main kinds of reagents are cleaning reagents, diluents, and lysing agents.

Key Insights

• As per the analysis shared by our research analyst, the global hematology analyzers and reagents market is projected to expand annually at the annual growth rate of around 7.20% over the forecast timespan (2024-2032)
• In terms of revenue, the global hematology analyzers and reagents market size was evaluated at nearly $8 billion in 2023 and is expected to reach $16 billion by 2032.
• The global hematology analyzers and reagents market is anticipated to grow rapidly over the forecast timeline owing to the growing need for precision and sensitivity along with the demand for accurate outcomes.
• In terms of product type, the reagents segment is slated to register the highest CAGR over the forecast period.
• Based on end-user, the diagnostics labs segment is predicted to contribute majorly towards the global industry size in the upcoming years.
• Region-wise, the Asia-Pacific hematology analyzers and reagents industry is projected to register the fastest CAGR during the projected timespan.

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Hematology Analyzers and Reagents Market: Growth Factors

Escalating requirement for authentic results of blood samples to scale up the expansion of the market globally by 2032

Growing need for precision and sensitivity along with the demand for accurate outcomes is predicted to boost the global hematology analyzers and reagents market growth in the ensuing years. Surging cases of blood disorders and a prominent increase in the geriatric population prone to various kinds of chronic ailments will accentuate the growth of the market across the globe. Demand for early diagnosis and product innovations will proliferate the size of the market globally. An increase in the allocation of funds in the healthcare sector along with favorable government initiatives will prompt the growth of the market across the globe.

Hematology Analyzers and Reagents Market: Restraints

An increase in the initial charges of the product can hinder the global industry expansion over 2024-2032

Rise in the preliminary costs of the product and strict laws governing the use of the product can retard the growth of the global hematology analyzers and reagents industry. Furthermore, a lack of awareness about the product benefits in emerging economies can put brakes on the expansion of the industry.  

Hematology Analyzers and Reagents Market: Opportunities

Humungous highlight on the use of personalized medicine in the healthcare sector to spur the global market surge in the coming years

Growing focus on precision medicine and funding of research & development activities related to new product development will open new growth horizons for the global hematology analyzers and reagents industry. An increase in the health & fitness consciousness among the people and recommendation of routine checkups by physicians for people above 40 years of age will proliferate the growth of the market globally.

Hematology Analyzers and Reagents Market: Challenges

Scarce availability of expert persons can challenge the growth of the industry globally over 2024-2032

Lack of skilled personnel and the need for appropriate blood samples is predicted to challenge the growth of the global hematology analyzers and reagents industry in the years ahead. Easy availability of substitute products can obstruct the expansion of the industry across the globe.

Hematology Analyzers and Reagents Market: Segmentation

The global hematology analyzers and reagents market is divided into product type, end-user, and region.                                          

In terms of product type, the hematology analyzers and reagents market across the globe is bifurcated into reagents and instruments segments. Additionally, the reagents segment, which gained nearly 61% of the global market proceeds in 2023, is expected to record the highest CAGR in the forecast timespan due to a rise in the use of reagents by hematology analyzers for performing accurate analysis of blood cells. Moreover, these products play a major role in sample preparation along with ensuring perfect measurements during the testing of samples.   

Based on the end-user, the global hematology analyzers and reagents industry is divided into diagnostics labs, research institutions, and hospitals segments. Furthermore, the diagnostics labs segment, which accrued about 65% of the global industry earnings in 2023, is likely to account for remarkable contributions towards the global industry size in the next eight years, subject to massive use of the product in diagnosing blood samples for chronic ailments in individuals in various diagnostic labs.

Hematology Analyzers and Reagents Market: Report Scope

Hematology Analyzers and Reagents Market: Regional Insights

North America is prognosis to maintain leadership position in the global market during 2024-2032

North America, which accounted for 74% of the global hematology analyzers and reagents market revenue in 2023, is expected to establish a leadership position in the global market in the next couple of years. In addition to this, the regional market expansion in the forecast timeline can be credited to an immense demand for blood transfusions as well as blood donations in countries such as the U.S. Apart from this, huge demand for blood components has enhanced the use of hematology analyzers in the region.

The Asia-Pacific hematology analyzers and reagents industry is slated to record the highest gains annually in the coming few years. The expansion of the industry in the APAC region can be a result of a rise in the presence of key manufacturers in countries such as India, Japan, and China. Apart from this, a rise in product exports from APAC to Europe and North America will boost the regional industry trends.

Key Developments

• In June 2024, HORIBA, a key leader in analytical & measurement systems, introduced compact new hematology analyzers integrated with CBC/Diff and ESR. Such moves will embellish the growth of the hematology analyzers and reagents industry across the globe.
• In the first half of 2022, Nihon Kohden set up a new hematology analyzer reagent unit in India. These initiatives will provide impetus to the growth of the hematology analyzers and reagents market in Asia and globally.

Hematology Analyzers and Reagents Market: Competitive Space

The global hematology analyzers and reagents market profiles key players such as:

• ERBA Diagnostics
• Bio-Rad Laboratories
• Siemens AG
• Abbott Laboratories
• Beckman Coulter
• Sysmex Corporation
• Ortho Clinical Diagnostics
• Hoffmann-La Roche Ltd.

The global hematology analyzers and reagents market is segmented as follows:

By Product Type

• Reagents
• Instruments

By End-User

• Diagnostics Labs
• Research Institutions
• Hospitals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa