Albany, NY -- (SBWire) -- 04/16/2019 --Global Hematology Diagnostics Market – Snapshot

Hematology is defined as the diagnostic classification of cells present in the blood and resulting identification of diseases of the blood-forming organs and diseases of the blood. It includes the calculation of WBC, RBC, and platelets. The analysis for hematologic disorders is related to disease monitoring, prognosis, diagnosis, and screening. Rise in prevalence of blood disorders, technological advancements and introduction of new technically advanced fully automated hematology analyzers, significant demand for laboratory automation, and increase in consolidation among market players and diagnostic laboratories are key factors that are expected to drive the global hematology diagnostics market during the forecast period.

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The hematology diagnostics market can be segmented based on product type, which includes hematology instruments and hematology consumables. In terms of revenue, the global hematology diagnostics market was valued at approximately US$ 3,495.0 Mn in 2017 and is anticipated to reach approximately US$ 5,586.4 Mn by 2026, expanding at a CAGR of more than 5.0% from 2018 to 2026. The expansion of hematology consumables segment is likely to fuel the growth of global hematology diagnostics from 2018 to 2026.

Rapid expansion of the global hematology diagnostics market is attributed to the increase in prevalence of blood disorders. Rise in awareness about these disorders among health care professionals and patients is projected to increase the demand for hematology diagnostics. For instance, approximately every three minutes, one person in the U.S. is diagnosed with blood cancer. Nearly 172,910 people in the U.S. were diagnosed with leukemia, lymphoma, or myeloma, in 2017. New cases of leukemia, lymphoma, and myeloma are expected to account for 10.2% of the estimated 1,688,780 new cancer cases diagnosed in the U.S. in 2017. An estimated 1,290,773 people in the U.S. are either living with, or are in remission from, leukemia, lymphoma, or myeloma.

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Hematology testing devices have come a long way from disease detection and monitoring to counting and characterizing blood cells. The concept of automation has extended to detect small cell populations in order to diagnose rare blood conditions, which requires less labor, rapid result, and easy-to-use analyzers. Current technologies include automation of hematology analyzer, electrical impedance, flow cytometry, and fluorescent flow.

Combination of these technologies has increased the yield and productivity of test results. Test volume, i.e. number of tests performed, is projected to increase owing to technological advances in disease diagnosis and the rise in demand for preventive diagnosis and treatment monitoring. This is also augmenting the demand for hematology analyzers with high throughput. Such technological revolution in hematology testing is expected to propel the market during the forecast period.

Hematology diagnostics market is witnessing expansion. Key market players such as Abbott Laboratories, Sysmex Corporation, F. Hoffmann-La Roche Ltd., and Beckman Coulter, Inc. have a strong presence in the global hematology diagnostics market. The global hematology diagnostics market has witnessed high investments by various multinational manufacturers such, Abbott Laboratories, Sysmex Corporation and F. Hoffmann-La Roche Ltd in the last few years.

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The hematology diagnostics market is driven by significant demand for laboratory automation and consolidation in order to improve precision and efficiency, and advancement in technology leading to easy usage. For example, in April 2018, Danaher (Beckman Coulter, Inc.) received CE Mark of its DxH 520 hematology analyzer, which is designed to help physician office laboratories. Another example, in January 2017, Roche announced the launch of the new, hematology testing solution, the Cobas m 511 integrated hematology analyzer. Cobas m 511, uses a unique approach through patented Bloodhound technology for printing, staining, and imaging.

The global hematology diagnostics has been segmented based on product type, end-user, and geography. Based on product type, the market has been split into hematology instruments and hematology consumables. The hematology consumables segment led the market and is expected to continue its dominance during the forecast period. Factors such as rise in awareness of blood disorders among health care professionals and patients are projected to increase the demand for hematology analyzers and consumables. The hematology instruments segment is likely to lose market share during the forecast period. Among the hematology instruments segment, hematology analyzers was the leading sub-segment in 2017. The sub-segment is likely to account for a leading share of the segment of the market during the forecast period. Among the hematology consumables segment, reagents segment was the leading sub-segment in year 2017. It is and anticipated to dominate the segment of the market during the forecast period.