Hematology Diagnostics Market - By Product (Instruments, Consumables), By Test Type (Blood Count, Platelet Function, Hemoglobin, Hematocrit), By End-use (Hospitals, Diagnostic Laboratories) & Forecast, 2023 – 2032

Hematology Diagnostics  Market Size

Hematology Diagnostics Market size was valued at around USD 3.8 billion in 2022 and is projected to register 4.7% CAGR between 2023 and 2032. Increasing prevalence of chronic conditions including blood and blood disorders along with technological advancements pertaining to hematology diagnostics is expected to foster the industry trends.

The introduction of highly advanced haematology analysers, increasing utilisation of flow cytometry tests, and a surge in demand for the sophisticated point-of-care haematology analysers will aid in the overall business share. Additionally, factors such as the rising number of diagnostic laboratories, the growing aging population affected by chronic conditions, and increased patient awareness. Moreover, innovative strategies and collaboration is one of the main methods used by market participants to maintain competitiveness and have a diverse product portfolio.
 

Hematology diagnostics is intended for the diagnosis and treatment of diseases of the blood and blood-forming tissues. These tests help to evaluate the various components of the blood, such as red blood cells, white blood cells, and platelets, as well as the clotting factors and other proteins involved in blood function. Hematology diagnostics help to identify and diagnose various blood disorders, such as anemia, leukemia, lymphoma, clotting disorders, and other conditions affecting the blood and bone marrow.
 

COVID-19 Impact

The recent outbreak of COVID-19 had negatively influenced the hematology diagnostics industry revenue surge, specifically during the first half of 2020. The incremental demand for COVID-19 testing has had a significant impact on the hematology diagnostics for other blood screening and testing. In the early stages of the pandemic, COVID-19 had a high incidence and mortality rate, causing people to avoid seeking other medical treatments & diagnostic procedures in healthcare facilities. Due to the risk of infection, many patients postponed endoscopic procedures along with other medical procedures. COVID-19 has led to a significant decline in reagent sales for hematology diagnostics due to lack of blood transfusion and blood screening. However, the decreasing infection rate and number of patients of COVID-19, as well as increasing volume of hematology diagnostics have propelled the market growth in the 2021.
 

Hematology Diagnostics Market Trends

Increasing number of chronic ailments including blood disorders and infections such as viral, bacterial, fungal as well as hospital acquired infections is a major cause that accelerates the demand of haematology diagnostics market. Additionally, rising geriatric population base and higher number of chronic diseases such as blood pressure and other heart ailments and lifestyle diseases will further enhance the overall industry expansion. Furthermore, technological advancements in testing modalities, rising demand for point-of-care testing, increasing number of laboratories and availability of skilled staff are other factors proving beneficial for the business. Therefore, the afore-mentioned statistics are expected to drive the increase in the number of hematology diagnostics procedures, proving beneficial for the revenue growth.  
 

Hematology Diagnostics Market Analysis

Based on product, hematology diagnostics market is segmented as instruments and consumables. Instruments segment accounting for more than 62% of the total industry share in 2022. The instruments segment is poised to highlight substantial growth rate through during the estimated timeframe due to surged usage of diagnostic instruments. Several clinical benefits offered by instruments in blood screening and diagnostics such as faster test results, precise blood testing, and availability of wide range of tests, among others. Functionality as well as high accuracy provided by hematology diagnostics instruments will rise its demand in the coming years.
 

Based on test type, the market is segmented as blood count, platelet function, hemoglobin, hematocrit and others. The blood count segment is projected to grow at a 4.6% CAGR from 2023-2032, due to the higher prevalence of blood related ailments that have led to the rise in number of hematology diagnostics & surging adoption of these blood count tests. This test measures several components of blood, including red blood cells, white blood cells, and platelets, and can provide valuable information about a patient's overall health and the presence of various diseases. Additionally, these tests can help monitor the effectiveness of cancer treatments, such as chemotherapy, by measuring changes in white blood cell counts and platelet levels.
 

Based on end-use, the hematology diagnostics market is segmented as hospitals, diagnostic laboratories, and others. The hospitals segment accounted for majority market share and was valued at over USD 1.9 billion in 2022. This majority segmental growth is owing to the availability of advanced equipment, better medical accessibility, high volume of surgeries and faster care. Routine blood check-ups, urine tests, and other common diagnostic tests can be easily availed at such hospitals thus, proving beneficial for the industry progression. Additionally, incorporation of advance instruments and consumables for hematology diagnostics coupled with rising healthcare expenditure in several countries will increase the product adoption rate. Owing to these developments along with the rising number of diseases population, the demand for hematology diagnostics has significantly increased in hospitals.
 

U.S. dominated the North America with a majority market share in 2022 and is predicted to reach around USD 2.1 billion by 2032. Presence of several industry participants focusing on developing innovative products for better patient management will prove advantageous for the business expansion. In addition, increasing geriatric population base, rising cases of chronic conditions and favorable government initiatives will accelerate the regional expansion. Additionally, ageing population resulting in high incidence of blood-related diseases, such as anemia, leukemia, and lymphoma increases. This has led to a higher demand for hematology diagnostics in order to diagnose and manage these conditions.
 

Hematology Diagnostics Market Share

Some of the major players operating in the hematology diagnostics market are:

• Abbott Laboratories
• BAG Healthcare Ltd
• Beckman Coulter Inc
• Bio Rad Laboratories
• BioSystems
• Boule Diagnostics
• Danaher Corporation
• Diatron
• F. Hoffmann-La Roche Ltd
• HemoCue AB
• HORIBA
• Mindray
• Medical International Limited
• Nihon Kohden
• Ortho Clinical Diagnostics
• Siemens Healthcare
• Sysmex Corporation
   

These leading market players are implementing advanced technologies to cater to the large unmet needs of the consumers. These players focus on strategic partnerships, new product launch & commercialization for market expansion. Furthermore, these players are heavily investing in research that allows them to introduce innovative products and garner maximum revenue in the market.
 

Hematology Diagnostics Industry in News:

• In January 2021, F. Hoffmann-La Roche Ltd. announced a strategic partnership with Sysmex Corporation for the distribution of Sysmex haematology products, including instruments and reagents. Additionally, Roche is committed to support improvements in haematology testing for the diagnosis and treatment of several blood disorders. Thus, this strategic partnership helped the company to enhance their market presence and increase their customer base.
   

Hematology diagnostics market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million & Units from 2018 to 2032, for the following segments:

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By Product

• Instruments
• Consumables

By Test Type

• Blood Count
• Platelet function
• Hemoglobin
• Hematocrit
• Others

By End-use

• Hospitals
• Diagnostic Laboratories
• Others  

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Poland
  • Switzerland
  • The Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Indonesia
  • Philippines
  • Vietnam
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
  • Chile
  • Peru
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Israel
  • Egypt
  • Turkey