Hematology Analyzers and Reagents Market Size, Trends and Growth Analysis by 2027

The global market for hematology analyzers and reagents is projected to grow significantly, reaching approximately US$ 13,007.87 million by 2027, up from US$ 7,252.54 million in 2019. This growth represents a compound annual growth rate (CAGR) of 7.6% from 2020 to 2027.

Several factors are expected to contribute to the expansion of the hematology analyzers and reagents market during the forecast period. The rising incidence of hematologic disorders, coupled with advancements in technology related to hematology analyzers, is anticipated to drive market growth. However, the high costs associated with premium systems pose a challenge to market expansion.

Hematology analyzers and reagents are essential healthcare tools designed to efficiently identify and quantify individual blood cells at high speeds. These modern instruments have largely replaced traditional methods that required lab technicians to manually count blood cells under a microscope. The use of these advanced devices results in more accurate and informative blood cell analyses from samples.

The effects of blood disorders extend beyond specific areas of the body. Common blood-related conditions include anemia, hemophilia, von Willebrand disease (VWD), and various blood cancers such as myeloma, leukemia, and lymphoma. Many of these disorders are hereditary, and their increasing prevalence leads to a higher demand for blood transfusions and blood cell counts, further driving the need for hematology analyzers and reagents.

Anemia, a prevalent blood disorder, affects over 3 million Americans annually, according to the National Heart, Lung, and Blood Institute. The World Health Organization (WHO) reported that approximately 1.62 billion people worldwide were affected by anemia in 2018. In India, the National Family Health Survey (NFHS) of 2018 indicated that around 58.6% of children and 50.4% of pregnant women were affected by anemia in 2016. Additionally, hemophilia A impacts about 1 in 5,000 male births in the United States each year, as per the CDC. The same organization noted that VWD, a common bleeding disorder, affects up to 1% of the general population. Between 2012 and 2016, over 14,600 individuals sought treatment for VWD at hemophilia treatment centers. The rising incidence of these blood disorders is significantly boosting the hematology analyzers and reagents market.

Product and Service Insights

The global hematology analyzers and reagents market is categorized into several segments based on products and services, including hematology products and services, hemostasis products and services, and immunohematology products and services. In 2019, the hematology products and services segment held the largest market share and is expected to maintain its dominance through 2027 due to its wide range of testing capabilities that ensure accurate results. These instruments are commonly utilized in medical laboratories to detect proteins or enzymes and to count blood cells, aiding in the diagnosis of various illnesses and genetic disorders.

Application Insights

From an application perspective, the market is divided into segments such as anemia, blood cancer, hemorrhagic conditions, infection-related conditions, immune system disorders, and other applications. The anemia segment was the largest in terms of market share in 2019 and is projected to continue leading the market by 2027, as it pertains to a condition where patients lack sufficient healthy red blood cells to transport adequate oxygen to body tissues.

End User Insights

Regarding end users, the market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and academic and research institutions. In 2019, hospital laboratories accounted for the largest share of the market. This segment is expected to remain dominant throughout the forecast period, as blood collection and analysis devices are frequently utilized in hospitals and pathology labs. Various devices, including tubes, needles, holders, blood analyzers, and other consumables, are essential for conducting comprehensive blood tests in these settings.

Key primary and secondary sources consulted in the preparation of this report on the global hematology analyzers and reagents market include the National Science Foundation (NSF), World Federation of Hemophilia, American Cancer Society, Canadian Cancer Society, World Health Organization, German Organ Transplantation Foundation, Global Cancer Observatory, Spanish National Transplant Organisation (ONT), European Centre for Disease Prevention and Control, Hong Kong Blood Cancer Foundation, National Heart, Lung, and Blood Institute, National Family Health Survey (NFHS), Centers for Disease Control and Prevention (CDC), and Hemophilia Federation India (HFI).