The North America hematology analyzers and reagents market is expected to reach US$ 5,302.01 million by 2027 from US$ 2,914.69 million in 2019. The market is estimated to grow at a CAGR of 7.8% from 2020 to 2027.
The growth of this market can be attributed to key driving factors, such as growing prevalence of blood-related disorders and increasing development of novel technologies and innovative strategies in hematology analyzers and reagents. However, the market growth is likely to be hindered owing to the product recalls of defective hematology analyzers and reagents.
There is a growing prevalence of hematological disorders, such as leukemia, hemophilia, and anemia in North America. According to the World Federation of Hemophilia, in 2019, the prevalence of hemophilia among male patients was around 17 per 100,000 males worldwide. As per the American Cancer Society, Non-Hodgkin's lymphoma is one of the common types of cancer in the US, accounting for 4%. Rising awareness about early diagnosis among patients is expected to be one of the key driving forces for the hematology analyzers and reagents market. Currently, the main public health problems in Mexico are chronic degenerative diseases. Nevertheless, people in Mexico continue to experience significant morbidity and mortality due to blood-related disorders and chronic and contagious diseases. Cancer in a developing country like Mexico is a challenge for the current health system and public health. According to the World Health Organization, in Mexico, cancer has remained the second or third leading cause of death; in 2018, total cancer cases were 190,667, and total cancer deaths were 83,476. The advancements in hemostasis diagnostic techniques for the diseases are expected to accelerate the market growth.
According to the National Heart, Lung, and Blood Institute, anemia is a common blood disorder, affecting more than 3 million Americans every year. Furthermore, as per the Centers for Disease Control and Prevention (CDC), hemophilia A affects ~1 in 5,000 male births in the US annually. A CDC survey in 2017 reported that Von Willebrand Disease (VWD), one of the most common bleeding disorders, affects up to 1% of the general population. During 2012–2016, more than 14,600 men, women, and children were seen at hemophilia treatment centers to treat VWD. Growing prevalence of blood-related disorders is augmenting the growth of the hematology analyzers and reagents market.
In the US, due to an increasing number of COVID-19 infected patients, healthcare professionals and leading organizations are distracting the flow of healthcare resources from research & development to primary care, which is slowing down the process of innovation. Furthermore, the researchers in the US are hoping to get a better handle on finding the percentage of Americans that have been infected with the new coronavirus by fishing through donated blood. In April 2020, the US launched an unprecedented effort in six metropolitan cities including New York to look for antibodies to SARS-COV-2 in the population. The serosurveys conducted in the North American states are likely to propel the demand for hematology analyzers and reagents.
Based on product and service, the North America hematology analyzers and reagents market is segmented into hematology products and services, hemostasis products and services, and immunohematology products and services. The hematology products and services segment is further divided into instruments, reagents and consumables, and services. The hemostasis products and services segment is further divided into instruments, reagents and consumables, and services. The immunohematology products and services segment is further divided into instruments, reagents and consumables, and services. The hematology products and services segment held the largest market share in 2019, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.
Based on application, the North America hematology analyzers and reagents market is categorized into anemia, blood cancer, hemorrhagic conditions, infection related conditions, immune system related conditions, and others. The anemia segment held a larger market share in 2019, whereas the blood cancer segment is anticipated to register a higher CAGR in the market during 2020–2027.
Based on end user, the North America hematology analyzers and reagents market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and research and academic institutes. In 2019, the hospital laboratories segment held the largest share of the market, and the same segment is anticipated to register the highest CAGR in the market from 2020 to 2027.
Primary and secondary sources referred to while preparing the report on the North America hematology analyzers and reagents market include American Cancer Society and Centers for Disease Control and Prevention.