Hematology Diagnostic Devices And Equipment Global Market Report 2023

New York, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Hematology Diagnostic Devices And Equipment Global Market Report 2023' -
Hoffmann-La Roche AG, and Thermo Fisher Scientific Inc.
The global hematology diagnostic devices and equipment market will grow from $1.89 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The hematology diagnostic devices and equipment market is expected to grow to $3.04 billion in 2027 at a CAGR of 9.4%.
The hematology diagnostic devices and equipment market consists of sales of flow cytometers, slide strainers, automated cell counters, red cell indices devices, micro sedimentation centrifuges, or blood volume measuring devices, occult blood tests, platelet aggregometer, erythrocyte sedimentation rate tests, red blood cell enzyme assay kits, glutathione reductase assays, and hematology reagents that are used for the diagnosis of hematology. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
Hematology diagnostic devices and equipment are used to diagnose diseases related to blood, vascular systems, bone marrow, autoimmune disorders, and hemostasis.
North America was the largest region in the hematology diagnostics devices and equipment market in 2022.Asia Pacific was the second-largest region in the hematology diagnostics devices and equipment market.
The regions covered in hematology diagnostics devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main products of the hematology diagnostics devices and equipment are instruments and consumables.Hematology diagnostics instruments are used to diagnose diseases related to blood, vascular systems, bone marrow, autoimmune disorders, and hemostasis.
The hematology diagnostics consumables involved are reagents, stains, and others and hematology diagnostics instruments involved are analyzers; flow cytometers, and others.These are used in various applications including drug testing, autoimmune disease, cancer, diabetes mellitus, infectious disease, and other applications.
The end-users are hospitals, specialized diagnostic centres, and specialized research institutes.
Hematology diagnostic devices are driven by the increase in the prevalence of blood disorders.Hematology diagnostic devices are widely used to identify the type of blood disorder.
A blood disorder is a condition which is impacting the count of the blood cells like red blood cells, white blood cells, platelets, etc.Blood disorders affect millions of people each year across the world irrespective of age, race, and sex.
E.g. As per the World Health Organization, Hemoglobin disorder is affecting 75% of the total births globally and the prevalence of Anemia is 12.7% in men.
Product recall is one of the major problems that companies are facing.Product recalls are the process of returning faulty devices which can be due to errors in the manufacturing of the device.
Because of the faulty devices tests conducted in the diagnostic centres may get affected.For example, Becton Dickinson (BD) and Company recalled Vacutainer EDTA Blood Collection Tubes because they are affecting the test due to the chemical interference of test tubes with the blood samples.
This recall was classified as Class I recall, the most serious type of recall, by the Food and Drug Administration (FDA). Such product recalls can negatively affect market growth.
Companies in hematology diagnostic devices are increasingly investing in automation technology. Automation technology advancements are driving the demand for hematology analyzers and this automation will reduce the errors caused due to the manual practices in the diagnostic centres.
Example top companies like Sysmex acquired CLIA waiver for a new automated hematology analyzer and by selling this product, Sysmex makes it possible for clinical facilities to perform hematology testing without any manual errors.
CLIA regulations establish quality standards for laboratory testing performed on specimens from humans, such as blood, body fluid, and tissue, for diagnosis, prevention, or treatment of disease, or assessment of health.
The hematology diagnostic devices market has a potential market to grow rapidly but stringent regulatory policies are restricting their growth.The FDA currently regulates class I, class II, and class III hematology devices.
This means that class I hemostasis devices are regulated to use these devices are exempt from the premarket notification requirements and they only be used for the general controls.Regulations for class II devices are exempt from the premarket notification requirements and they can be used for special controls.
Class III is the most stringent category as it requires premarket approval (PMA).
The countries covered in the hematology diagnostic devices are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The hematology diagnostics devices and equipment market research report is one of a series of new reports that provides hematology diagnostics devices and equipment market statistics, including hematology diagnostics devices and equipment industry global market size, regional shares, competitors with a hematology diagnostics devices and equipment market share, detailed hematology diagnostics devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the hematology diagnostics devices and equipment industry. This hematology diagnostics devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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