Albany, NY -- (SBWIRE) -- 09/20/2018 -- Clinical chemistry is a part of biochemistry which deals with examination of body fluids for diagnostic and restorative purposes. Clinical chemistry is a method used in hospitals, physician's office, and clinical laboratories to test whole blood, plasma, serum, cerebrospinal fluids, and urine samples for detection of analyte concentration, to diagnose disease, to find out hematology values, metabolic function, or to assess the presence of drugs. The commonly used methods in clinical chemistry are ion selective electrodes (ISE) and photometry. In ISE, a sensor is used to determine electrolyte concentration of test sample; whereas in photometry, analyte concentration is measured by detecting the color produced when the sample is mixed with reagents.
There are two types of chemistry analyzers available in the market, i.e., wet chemistry analyzer and dry chemistry analyzer. In dry chemistry analyzer, lyophilized reconstituted reagents are used instead of wet reagents. There has been an increasing preference for dry chemistry analyzer among medical professionals due to its high-quality clinical outcomes and efficiency. Wet chemistry tests are commonly performed as they help in enhancing the quality of test results with reduced amount of waste, in minimum time. Advantages of wet clinical analyzers, such as, their effectiveness in tests are likely to boost the clinical chemistry market growth in the next few years.
The global clinical chemistry market is expected to grow significantly due to rising incidence of infectious diseases and increasing prevalence of lifestyle diseases, such as, diabetes and cardiovascular disorders. According to the International Diabetes Federation, in 2016, 422 million people worldwide were living with diabetes, and it is predicted that by 2040 more than 10% of the world's adult population or around 642 million people will have diabetes; such high prevalence is projected to be a key driver of the clinical chemistry market during the forecast period.
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Furthermore, growth in aging population is boosting the clinical chemistry market as elderly people are generally prone to infectious diseases and other disorders. High preference for automated clinical chemistry among medical professionals and health care initiatives from government are further augmenting the growth of the clinical chemistry market. Developing health care infrastructure and implementation of innovative technology and rising use of automation in health care are expected to create opportunities for the clinical chemistry market. However, high cost of devices and lack of skilled professionals are anticipated to pose challenges to the clinical chemistry market during the forecast period.
The global clinical chemistry market can be segmented on the basis of product type, application, and geography. Based on product type, the Clinical Chemistry market can be divided into analyzers and reagents. Analyzers comprise fully-automated analyzers, semi-automated analyzers, and accessories. Reagents are classified into standard, control, calibrators, and other reagents. On the basis of application, the clinical chemistry market can be segmented into basic metabolite panel, liver function test, electrolyte panel, kidney function test, lipid profile, specialty chemical test, thyroid profile, and other biochemical tests.
Geographically, the clinical chemistry market can be categorized into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Each of these regions can be sub-segmented into specific countries, such as, the U.S. and Canada (North America), the U.K. and Germany (Europe), Brazil (Latin America), China and India (Asia Pacific), and GCC countries (Middle East & Africa). North America dominated the global clinical chemistry market due to the growth in geriatric population and increase in demand for innovative medical technology in the region. Asia Pacific is expected to be a highly attractive clinical chemistry market during the forecast period due to increasing health care awareness and demand for advanced medical technology in the region.
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Key players operating in the global clinical chemistry market include ELITechGroup, F. Hoffmann-La Roche Ltd, Beckman Coulter, Inc., Thermo Fisher Scientific, Alfa Wassermann, Ortho-Clinical Diagnostics, Abbott, Accurex Biomedical Pvt. Ltd., and HORIBA, Ltd. In order to gain competitive advantage in the industry, these players are adopting various growth strategies, such as, collaborations, agreements, partnerships, and new product launches.
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