Hematology Analyzers Market Predicted To Value US$ 2,000 Mn By 2024

Posted by Vinay on November 9th, 2017

According to researchers from the University of Southern California, and the Brookings Institution, employers and payers who use reference pricing are likely to lower the hematology test price by 31.9%. This is expected to help patients in choosing the tests which are close to their reference price, saving their out-of-pocket burden. In addition, several companies are manufacturing and marketing miniature instruments with high accuracy. Analyzers are converging multi-parameter tests into single platforms through these miniaturized machines, thereby helping labs and hospitals to save on heavy investments. These factors are driving growth of the global hematology analyzer market.

In its recent report, Persistence Market Research (PMR) projects the global hematology analyzer market to register an impressive expansion at 5.7% CAGR during the forecast period 2016 to 2024. In 2015, the market was evaluated at revenues worth US$ 1,283 Mn, and is estimated to surpass US$ 2,000 Mn by 2024-end. Leading players in the global hematology analyzer market are introducing innovative products in order to retain as well as increase their market share. Advancements in information technology has garnered demand for IT-driven medical information networks in healthcare sector, contributing to effective collection and analysis of hematology test data. Such factors are propelling demand for hematology analyzers globally.

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In addition, other factors such as increasing awareness about chronic diseases and surging demand for hematology analyzers from healthcare settings on the back of growing geriatric population are expected to drive growth of the market. In contrast, macro-economic and geopolitical uncertainties associated with monetary and fiscal policies are affecting global market players. In addition, liquidity risk is expected to restrain growth of small-scale hematology analyzer manufacturers. Various regulatory challenges have been incurred in the approval of hematology analyzers. Moreover, presence of excess and obsolete inventories such as semi-automatic hematology analyzer is increasing owing to the rise in automation. These factors are anticipated to hamper the market growth.5 part differential analyzer is estimated to remain sought-after product, with sales estimated to reach US$ 1,386.7 Mn by 2024-end. Sales of 6 part differential analyzer are expected to register fastest growth through 2024. In addition, 3 part differential analyzer and 5 part differential analyzer are expected to witness parallel expansion at 5.6% CAGR through 2024.

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