The Hematology Diagnostics Market Size is anticipated to be US$ 780.0 million in 2023, growing to US$ 2.0 billion by 2033. The market for Hematology Diagnostics is estimated to develop at a CAGR of 9.9% during the forecast period.
Cancer, blood clots, blood-related illnesses, and infections are propelling market growth. Furthermore, technological advancements and the use of artificial intelligence to aid in speedier diagnosis are driving the Hematology Diagnostics market potential.
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The increasing prevalence of blood illnesses such as anaemia, thalassemia, and sickle cell disease is opening up new commercial opportunities. Furthermore, R&D investments, improved technologies for providing precise clinical advice, and new market entrants are propelling Hematology Diagnostics sales. Furthermore, the development of more effective standardised diagnostics to save effort in research laboratories is improving Hematology Diagnostics acceptability.
Non-invasive Hematology equipment and point-of-care testing are driving market expansion. In terms of blood cancer, India ranks third in the globe, after only the United States and China, according to a 2019 research.
Manufacturers Increased Automation in Hematology Diagnostics to Surge Market Opportunities:
The growth of medical technology has improved the healthcare sector in recent years. Manufacturers are experimenting with various medical devices in order to provide more accurate results, faster responses, and shorter check-up times.
During the forecasted time frame, these manufacturers will release breakthrough devices that will meet the needs of patients. Furthermore, the development of self-driving and sophisticated technology with artificial intelligence to record patient data, disease data, and personal data is broadening market opportunities.
Hematology Diagnostics Market Key Takeaways:
- By 2033, the Hematology Diagnostics market is anticipated to be worth $2.0 billion.
- During the forecast period, the global market is expected to grow at a CAGR of 9.9%.
- The Hematology Diagnostics market in the United States is expected to grow at a 9.7% CAGR through 2033.
- The United Kingdom market is expected to grow at an 8.9% CAGR during the forecast period.
- Over the projection period, the China market is expected to grow at a CAGR of 9.3%.
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Who is Winning?
The prominent players fragment the market during the forecast period. Therefore, marketers are using various strategies to propel market growth.
- Developing Innovative Products:The manufacturers and top companies focus on developing devices based on machine learning (ML) and deep learning (DL) methods for Hematology Diagnostics patients.
- Increasing Distribution Channels:The key companies are launching their products to acquire massive revenue in the global market. These companies provide their goods and services through multiple distribution channels such as retail, wholesale, supermarkets, and online.
- Trustworthy Brand:The manufacturing companies are developing advanced and transparent brands for their customers. The manufacturers are aware of sustainable products that maintain a trustworthy relationship between the buyer and seller.
Other Prominent Players in the Hematology Diagnostics Market are:
- Meyland Smith A/S
- Abbot Laboratories
- Bio-Rad Laboratories
- Sysmex Corporation
- Mindray Medical International Limited
- Siemens Healthlineers
- F. Hoffman-La Roche Ltd.
- HORIBA Ltd.
- HemoCue AB
- Danaher (Beckman Coulter Inc.)
- Nihon Kohden Corporation
- EKF Diagnostics
- Ortho Clinical Diagnostics
- Drew Scientific
Hematology Diagnostics Market Recent Development:
- In Oct 2021, Suburban Diagnostics announced its newly launched Centre of Excellence for Hematology Diagnostics patients. The freshly launched find out various common and uncommon disorders by providing training and research support.
- In Apr 2022, A medical device company, Sysmex Corporation, launched its new systems, including XQ-Series and XQ-320 Series. These are the automated system that provides multi-feature requirement in the laboratories.
- In Mar 2022, Mindray launched the BC-700 series. These series incorporate complete blood count and erythrocyte sedimentation tests.
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Hematology Diagnostics Market by Category:
By Kit Type:
- Anemia and Iron Test Kits
- Folic Acid Testing Kits
- Sickle Cell Screening Kits
- PT/INR Testing Kits
- D-dimer Testing Kits
- Blood Typing Kits
- Leukemia Testing Kits
- Sepsis Testing Kits
- Antibiotics Resistance Panels
- Bacterial & Fungal Panels
By Modality:
- Point of Care
- Lab-based Testing
By Distribution Channel:
- Hospitals
- Diagnostic Laboratories
- Cancer Research Institutes
- Retail Pharmacies
- Drug Store
- Online Sales Channels
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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