Hematology Devices Market

Global Hematology Devices Market is valued at USD 4.72 Billion in 2022 and it is expected to reach USD 6.78 Billion by 2029 with a CAGR of 5.3% over the forecast period.

Scope of Global Hematology Devices Market Report-

Hematology devices are diagnostic tools used to study blood cells and their characteristics, such as morphology, size, and count. These devices help healthcare professionals diagnose and monitor various blood-related diseases, including anemia, leukemia, and clotting disorders. The history of hematology devices dates back to the 19th century when scientists first discovered the existence of different blood cells.

The development of microscopy and staining techniques in the early 20^th century led to the identification of different types of blood cells, and the first automated blood cell counter was introduced in the 1950s. Since then, the technology behind hematology devices has continued to evolve, with the introduction of laser-based flow cytometry and advanced software for data analysis.

Hematology devices are used in a variety of medical settings, including hospitals, clinics, and research laboratories. They are used to diagnose and monitor a wide range of blood disorders, including anemia, leukemia, and clotting disorders. Hematology devices are also used to monitor patients undergoing chemotherapy or other treatments that can affect blood cell counts.

The primary end-users of hematology devices are healthcare providers, including physicians, nurses, and medical technologists. Hematology devices are used in a wide range of medical settings, including hospitals, clinics, and research laboratories.

Market Revenue Generation Model:

Hematology devices are sold to healthcare providers through various channels, including direct sales and distribution through medical device companies. Revenue is generated through the sale of devices and associated consumables, such as reagents and cartridges, as well as through service and support contracts.

Supply Chain Analysis:

The supply chain for hematology devices typically includes manufacturers, distributors, and medical device companies. Raw materials and components are sourced from suppliers and assembled into finished devices by manufacturers. Distributors and medical device companies then sell the devices to healthcare providers.

Value Chain Analysis:

The value chain for hematology devices includes research and development, manufacturing, distribution, sales and marketing, and service and support. Each stage of the value chain contributes to the overall value of the product, from the development of new technologies to the delivery of high-quality service and support to customers.

Covid-19 Impact on the Hematology Devices market:

The Covid-19 pandemic has had a mixed impact on the global hematology devices market. While the demand for hematology devices has increased due to the need for diagnosis and monitoring of Covid-19 patients and related blood disorders, the pandemic has also led to disruptions in the supply chain and decreased patient visits to healthcare facilities. Additionally, the pandemic has led to a shift towards decentralized and point-of-care testing, which has increased the demand for portable and handheld hematology devices. However, the increasing prevalence of blood disorders and the growing demand for early diagnosis and treatment are expected to continue driving the growth of the hematology devices market in the coming years, despite the short-term challenges posed by the pandemic.

Key Players of Global Hematology Devices Market Report-

• Abbott Laboratories
• Sysmex Corporation
• Hoffmann-La Roche Ltd.
• Danaher Corporation
• Siemens Healthineers AG
• Nihon Kohden Corporation
• Bio-Rad Laboratories Inc.
• Boule Diagnostics AB
• Mindray Medical International Limited
• HORIBA Ltd.
• Beckman Coulter Inc.
• Diatron MI PLC
• Drew Scientific Inc.
• Cellavision AB
• Sinothinker Technology Co. Ltd.
• URIT Medical Electronic Co. Ltd.
• Diagnovision Products Corporation
• EKF Diagnostics Holdings plc
• Research and Production Complex Biopromin Ltd.
• Gel Company
• Mindray
• HemoCue AB
• Tecom Science
• Ortho Clinical Diagnostics
• Meril Life Sciences
• Sinnowa
• Shenzhen Landwind Industry Co. Ltd.
• Hui Zhikang Medical Apparatus Co. Ltd.
• Medonic
• Clindiag Systems
• Stago
• Jena Bioscience
• Perlong Medical Equipment Co. Ltd.
• Acon Laboratories Inc.

Global Hematology Devices Market Segmentation:-

By Product:

• Hematology Analyzers
  • Fully-Automated Hematology Analyzers
  • Semi-automated Hematology Analyzers
  • Point-Of-Care Testing Hematology Analyzers
• Flow Cytometers
• Coagulation Analyzers
• Slide Stainers
• Other

By End-User:

• Hospitals and Clinics
• Diagnostic Laboratories
• Research Laboratories
• Blood Banks

Market Drivers:

Increasing prevalence of blood disorders: The growing prevalence of blood disorders such as anemia, leukemia, and lymphoma is expected to drive demand for hematology devices. According to the World Health Organization (WHO), anemia affects approximately 1.62 billion people worldwide, and the incidence of blood cancers such as leukemia and lymphoma is increasing by approximately 10% per year.

Additionally, in 2020, there were an estimated 437,033 new cases of leukemia globally, with an estimated 309,006 deaths. It is more common in males than females, with a male-to-female ratio of approximately 1.3:1. The incidence of leukemia increases with age, with the highest rates occurring in people over 60 years of age.

Growing demand for point-of-care testing: There is an increasing trend towards point-of-care testing, which allows for faster and more convenient testing without the need for lab-based equipment. This is driving demand for hematology devices such as portable analyzers and handheld devices.

And, the demand for point-of-care testing (POCT) has been growing in recent years due to its many advantages, such as faster turnaround times, convenience, and ease of use. In 2020, the FDA approved a total of 80 POCT devices, with the largest categories being infectious disease testing (38 devices) and glucose testing (19 devices).

Market Restraints:

High cost of hematology devices: Hematology devices can be expensive to purchase and maintain, which can be a barrier to adoption in some healthcare settings. The high cost of these devices may also limit their availability in resource-limited settings.

For example; Automated Hematology Analyzers are the most common type of hematology device and can cost between $15,000 to $100,000 or more, depending on the level of automation, throughput, and features. Some high-end models can cost over $250,000. Hemostasis analyzers are used to measure blood clotting times and can cost between $15,000 to $50,000 or more, depending on the level of automation and features.

Stringent regulatory requirements: Hematology devices are subject to stringent regulatory requirements in most markets, which can slow down the approval process and increase development costs for manufacturers. The U.S. Food and Drug Administration (FDA) requires that most hematology devices receive clearance before they can be marketed in the United States.

And, to receive FDA clearance, manufacturers must demonstrate that their device is safe and effective for its intended use. This process can be time-consuming and costly, with some devices taking years to receive clearance.

Opportunity Factors:

Adoption of automation and information technology: With the increasing adoption of automation and information technology in hematology testing, there is a growing demand for advanced hematology analyzers that can provide faster and more accurate results. For example; Sysmex Corporation, a leading player in the global hematology devices market, offers the XN-Series hematology analyzers that use digital imaging technology and advanced algorithms for accurate and reliable blood cell analysis.

Development of advanced hematology devices: The development of advanced hematology devices, such as flow cytometers and molecular diagnostics, is expected to provide new growth opportunities for players in the market. For example; Beckman Coulter, offers the Navios flow cytometer that provides high-resolution analysis of complex cell populations for research and clinical applications.

Market Trends:

Market trends in the hematology device market include the adoption of digital imaging and analysis technologies, the increasing use of automation and artificial intelligence in data analysis, and the growing demand for portable and handheld devices that can be used in remote and low-resource settings.

Product and Technology Trends: Product and technology trends in the hematology device market include the development of multi-parameter analysis tools that can measure multiple characteristics of blood cells simultaneously, the use of microfluidic technology for sample preparation and analysis, and the integration of data management and analysis software into hematology devices.

Customer Trends: Customer trends in the hematology device market include the increasing demand for user-friendly devices that are easy to use and maintain, the growing preference for devices that are compatible with electronic medical records and other digital health systems, and the increasing focus on cost-effectiveness and efficiency in healthcare delivery.

Market Competition Nature:

Competition in the hematology devices market is intense, with a large number of companies competing for market share. Some of the key players in the market include Abbott Laboratories, Sysmex Corporation, Siemens Healthineers, Beckman Coulter, Inc., and Horiba Medical.

Past and future strategies of key market players: In the past, key market players have focused on expanding their product portfolios through product launches, partnerships, and acquisitions. For example, in 2018, Sysmex Corporation acquired Oxford Gene Technology, a provider of genetic analysis products, to expand its offering of genetic testing solutions. In the future, market players are likely to focus on developing innovative technologies and solutions that address unmet needs in the market, such as the need for more accurate and efficient testing methods.

Geography Analysis:

North America:

In North America, the market for hematology devices is driven by factors such as the high prevalence of blood disorders, the increasing demand for point-of-care testing, and the growing adoption of digital imaging and analysis technologies.

For example; Leukemia is a type of blood cancer that affects the white blood cells. It is a relatively rare condition, but it is still a significant health issue. In the United States, an estimated 60,530 people were diagnosed with leukemia in 2021, and an estimated 23,100 people died from the disease. In Canada, an estimated 6,800 people were diagnosed with leukemia in 2021, and an estimated 2,800 people died from the disease.

Europe:

The European hematology devices market is a significant and growing market, driven by a number of factors such as the high prevalence of blood disorders and the increasing demand for more advanced and efficient diagnostic tools. The presence of a large number of key market players in the region, coupled with the growing adoption of digital imaging and analysis technologies, is expected to drive the growth in this region. For example; Beckman Coulter, a leading player in the Europe hematology devices market, offers a range of hematology analyzers such as the DxH 900, which delivers accurate results with advanced cellular analysis capabilities. The company also provides the Navios flow cytometer, which is used for research and clinical applications such as immunophenotyping of blood cells, leukemia and lymphoma analysis, and stem cell enumeration.

iIn addition, the rising incidence of blood disorders such as leukemia, lymphoma, and anemia, among others, is a key driver for the hematology devices market in Europe. For example; according to World Health Organization; Anemia is the most common blood disorder in Europe, affecting an estimated 80 million people.

By Regional & Country Level:

• North America
  • S.
  • Canada
• Europe
  • K.
  • France
  • Germany
  • Italy
• Asia Pacific
  • China
  • Japan
  • India
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
• Middle East and Africa
  • GCC
  • Africa
  • Rest of Middle East and Africa

Key Benefits of Global Hematology Devices Market Report–

• Global Hematology Devices Market report covers in-depth historical and forecast analysis.
• Global Hematology Devices Market research report provides detailed information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, and Regional and Country Level.
• Global Hematology Devices Market report helps to identify opportunities in the marketplace.
• Global Hematology Devices Market report covers extensive analysis of emerging trends and competitive landscape.