The hematology diagnostic market is estimated to be valued at USD 780.0 million in 2023 and is rising to USD 2.0 billion by 2033. The market is estimated to register a CAGR of 9.9% during the forecast period. Various factors influencing the market include:
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 9.9% |
| Market Valuation (2023) | USD 780 million |
| Market Valuation (2033) | USD 2.0 billion |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The rising costs of hematology diagnostic and novel diagnostic procedures are limiting the market growth as people in low and middle-income countries find it difficult to receive expensive treatment, whereas lack of awareness may also restrict the market growth.
The rapidly growing blood diseases, related disorders, and infections such as blood clots, anemia, cancer, and hemophilia are driving market expansion. A report published by Bristol-Myers Squibb stated that nearly one million cases of blood cancer were recorded globally in 2020. Additionally, rising hemoglobinopathies disorder may increase the market growth during the forecast period.
The adoption of automation in hematology diagnostics to improve efficiency and standardize processes are rising market opportunity. Various diagnostic laboratories accept automation processes to collect samples, avail quick results, and recognition tests, and reduce administrative errors. These factors are estimated to increase the demand for automated hematology diagnostics during the forecast period.
Principal Consultant
According to Future Market Insights, the global hematology diagnostics market is projected at a healthy CAGR of 9.9% during the forecast period. Historically, the market registered a CAGR of 11.8% between 2017 and 2022.
The market changes as per the product adoption rates and device regulations under the macro and industrial dynamics. The key developments in the market include complete lab automation for hematology diagnostics. With the fourth wave of technology and automation around the globe, the market has been positively influenced by total laboratory automation strategies.
The market is estimated to reach USD 2.0 billion during the forecast period. In the historical period, the market stood at a valuation of USD 700 million from 2017 to 2022.
| Segments | Kit Type |
|---|---|
| Top Category | Blood Typing Kits |
| Historic CAGR | 11.2% |
| Forecast CAGR | 9.4% |
| Segments | Modality |
|---|---|
| Top Category | Lab-based Testing |
| Historic CAGR | 11% |
| Forecast CAGR | 9.1% |
The hospital segment holds a dominant market share and is predicted to maintain this stance during the forecast period. However, the diagnostic laboratories segment is expected to experience rapid growth over the forecast period owing to an increase in diagnostic centers. The increasing availability of advanced diagnostic instruments and devices and the demand for hospitals propel market growth.
Based on kit type, blood typing kits lead the global market by securing a CAGR of 9.4% during the forecast period. The rising demand for blood typing kits to perform blood tests easier and quicker and identify blood types. This segment contributes a huge revenue in the general healthcare routine and in discovering diseases which may drive market expansion.
The blood typing kits check various tests such as iron deficiency, allergy, vitamins, and anemia propel market opportunities. Historically, the blood typing kits captured a CAGR of 11.2% between 2017 and 2022.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
| Country | United States |
|---|---|
| AGR (2017 to 2022) | 11.5% |
| AGR (2023 to 2023) | 9.7% |
| Valuation (2023 to 2033) | USD 708.6 million |
| Country | United Kingdom |
|---|---|
| AGR (2017 to 2022) | 10.5% |
| AGR (2023 to 2023) | 8.9% |
| Valuation (2023 to 2033) | USD 84.2 million |
| Country | China |
|---|---|
| AGR (2017 to 2022) | 11.1% |
| AGR (2023 to 2023) | 9.3% |
| Valuation (2023 to 2033) | USD 143.5 million |
| Country | Japan |
|---|---|
| AGR (2017 to 2022) | 10.0% |
| AGR (2023 to 2023) | 8.4% |
| Valuation (2023 to 2033) | USD 117.3 million |
| Country | South Korea |
|---|---|
| AGR (2017 to 2022) | 8.6% |
| AGR (2023 to 2023) | 7.6% |
| Valuation (2023 to 2033) | USD 69 million |
Rising Incidence of Blood Cancer to Boost Hematology Diagnostics Demand!
The USA is securing a CAGR of 9.7% with a valuation of USD 708.6 million during the forecast period. The USA has seen a spike in the incidence of blood cancer in recent years, and it is expected to increase in the coming years. Due to high technological proliferation, the USA hematology diagnostics market is expected to provide lucrative opportunities.
The presence of developed healthcare infrastructure and high research and development activity is predicted to flourish the USA market during the forecast period. Historically, the USA market captured a CAGR of 11.5% between 2017 and 2022.
South Korea registers a CAGR of 7.6% with a valuation of USD 69 million during the forecast period. Focus on healthcare has bolstered in recent years in South Korea, creating many opportunities for healthcare diagnostic providers. The nation is also experiencing a surge in blood disorders and incidences of blood cancer. These factors are propelling the South Korean market during the forecast period. Historically, the market secured a CAGR of 8.6% between 2017 and 2022.
The United Kingdom's hematology diagnostics market is anticipated to hold a CAGR of 8.9%, with a valuation of USD 84.2 million during the forecast period. The rising prevalence of blood cancer and the presence of key hematology diagnostics companies are expected to be key factors propelling the market growth.
The rising research & development and government initiatives to boost awareness for hematology diagnostics are driving the United Kingdom market. The increasing prevalence of blood disorders, healthcare, and rising instances of genetic blood disorders are expected to propel the United Kingdom market.
Rising investments in healthcare infrastructure and new market entrance are anticipated to promote the market potential in this region. Historically, the United Kingdom market secured a CAGR of 10.5% between 2017 and 2022.
The China hematology diagnostics market is anticipated to hold a CAGR of 9.3% with a valuation of USD 143.5 million during the forecast period. Increasing healthcare infrastructure, urbanization, and improvement in diagnostic therapy products are driving the China market.
Rising government regulations and increasing initiatives to generate awareness are anticipated to boost market growth during the forecast period. Historically, China secured a CAGR of 11.1% between 2017 and 2022.
Hematology diagnostic providers are investing in the research & development of novel diagnostic solutions to enhance their market presence and boost revenue. Hematology diagnostic companies also focus on establishing new centers to deploy novel diagnostic solutions.
Healthcare manufacturers are developing various automation devices to reduce the workload and provide efficient results. Key players are conducting extensive research on the market and carrying out several marketing strategies to upsurge the market. Moreover, market players are involved in innovating new products and expanding distribution networks in the coming years.
Recent Development in the Market
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data | 2017 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa, Türkiye |
| Key Segments Covered | Kit Type, Modality, Distribution Channel, Region |
| Key Companies Profiled | 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 |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The global hematology diagnostics market might create a revenue of around USD 780 million in 2023.
In the United States the net worth of the total hematology diagnostics adopted by 2033 could be USD 708.6 million.
China is the leading market and the regional demand is expected to grow at 9.3% CAGR until 2033.
The blood typing kits segment dominated and is forecasted to register 9.4% CAGR through 2033.
Between 2017 and 2022, the global demand for hematology diagnostics services surged at 11.8%.
1. Executive Summary | Hematology Diagnostics Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Kit Type 5.1. Anemia and Iron Test Kits 5.2. Folic Acid Testing Kits 5.3. Sickle Cell Screening Kits 5.4. PT/INR Testing Kits 5.5. D-dimer Testing Kits 5.6. Blood Typing Kits 5.7. Leukemia Testing Kits 5.8. Sepsis Testing Kits 5.9. Antibiotic Resistance Panels 5.10. Bacterial & Fungal Panels 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Modality 6.1. Point of Care 6.2. Lab-based Testing 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Distribution Channel 7.1. Hospitals 7.2. Diagnostic Laboratories 7.3. Cancer Research Institutes 7.4. Retail Pharmacies 7.5. Drug Store 7.6. Online Sales Channels 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Europe 8.4. East Asia 8.5. South Asia & Pacific 8.6. Middle East and Africa (MEA) 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia & Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Meyland Smith A/S 17.2. Abbot Laboratories 17.3. Bio-Rad Laboratories 17.4. Sysmex Corporation 17.5. Mindray Medical International Limited 17.6. Siemens Healthlineers 17.7. F. Hoffman-La Roche Ltd. 17.8. HORIBA Ltd. 17.9. HemoCue AB 17.10. Danaher (Beckman Coulter Inc.) 17.11. Nihon Kohden Corporation 17.12. EKF Diagnostics 17.13. Ortho Clinical Diagnostics 17.14. Drew Scientific 18. Assumptions & Acronyms Used 19. Research Methodology
Explore Healthcare Insights
View Reports
Hematology Diagnostics Market
