Covid-19 Impact on Hematology Diagnostics Market is Expected to Grow at an Impressive CAGR by 2026

February 10, 2022

The report on the Hematology Diagnostics Market is segmented By Product (Hematology Instruments, Hematology Consumables), Test Type (Blood Count, Platelet Function, Hemoglobin, Hematocrit), End-Use (Diagnostic Laboratories, Hospitals & Clinics, Academic Institutes, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.

Market Insights

The Hematology Diagnostics Market is projected to grow from USD 5.9 billion in 2020 to USD 8.3 billion by 2026 at a CAGR of around 5.8% during the forecast period.

Key players

Some of the major players operating in the global Hematology Diagnostics Market are-

• Abbott Laboratories (US)
• Sysmex Corporation (Japan)
• F. Hoffmann-La Roche AG (Switzerland)
• Beckman Coulter Inc. (US)
• Horiba, Ltd. (Japan)
• Bio-Rad Laboratories, Inc. (US)
• Siemens Healthineers AG (Germany)
• Mindray Medical International Limited (China)
• Nihon Kohden Corporation (Japan)
• EKF Diagnostics (Germany).

Report Features

The report provides critical insights into the market dynamics that enables strategic decision making that is critical to the growth of the existing players as well as those planning to enter the market. This report offers an improvised approach to consolidate the growth decisions by covering the following features –

• Market structure - as it reflects the value chain of different commodities in the market.
• Drivers and Constraints - as both can affect any element of the marketing mix -- product, budget, and place, etc.
• Market Forecast - a part of the decision-making process. This helps users with facts regarding projected sales dimensions, costs, market shares, and other areas of planning.
• Competitive landscape and dynamics: The user can determine the strengths and gaps. The information mentioned here will work towards enhancing the brand's strategy.
• Growth strategies - allowing a small business to survive unexpected changes, and to grow into a bigger entity, and gain a greater competitive advantage.

Market Dynamics

The report covers maximum factors that affect the Hematology Diagnostics Market. According to this report,

The growth of the hematology diagnostics market is primarily driven by rising incidences of blood disorders. Expanding geriatric population is likely to drive the market growth further. Rising awareness among consumers relating to blood disorders is expected to augment the market growth substantially. In addition to this, increasing investment in research and development activities to develop advanced diagnostic solutions is likely to create lucrative opportunities for the players operating in the global hematology diagnostics market in the coming years.

Segments' Analysis

End-Use Trends

By end-use, the hematology diagnostics market has been bifurcated into diagnostic laboratories, hospitals & clinics, academic institutes, and others. The hospitals & clinics segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment can be attributed to the presence of established infrastructure and skilled staff.

Regional Trends

By region, the North American market accounted for the largest market share in 2020 and is projected to grow at a robust CAGR during the review period. This can be attributed to expanding geriatric populace and growing emphasis on the adoption of advanced diagnostic solutions in the healthcare industry coupled with the presence of key market players such as Abbott Laboratories (US) and Beckman Coulter Inc. (US). The market growth in Asia-Pacific is expected to be driven by an increasing number of people having blood disorders.

Critical Questions Answered in the Report

• What are the key trends in the global Hematology Diagnostics Market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in next five years?
• What is the impact of COVID-19 on global Hematology Diagnostics Market?
• What are the key strategies adopted by the major vendors to lead in the global Hematology Diagnostics Market?
• What is the market share of the top vendors?

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Author : Meha Prasad