Advancing Blood Health: Hematology Diagnostic Devices Market Report 2024

The hematology diagnostic devices and equipment market size has grown rapidly in recent years. It will grow from $2.15 billion in 2023 to $2.41 billion in 2024 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to clinical diagnostics, blood banking, oncology and hematological disorders, monitoring disease progression.

The hematology diagnostic devices and equipment market size is expected to see rapid growth in the next few years. It will grow to $3.7 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%. The growth in the forecast period can be attributed to aging population, personalized medicine, rising blood-related disorders, hematological biomarkers. Major trends in the forecast period include technological advancements, point-of-care hematology testing, automation and integration, telemedicine and remote monitoring.

Market Overview -
Hematology diagnostic devices and equipment are used to diagnose diseases related to blood, vascular systems, bone marrow, autoimmune disorders, and hemostasis.

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Growing Impact Of Blood Disorders To Drive Market Growth
Hematology diagnostic devices are driven by the increase in the prevalence of blood disorders. Hematology diagnostic devices are widely used to identify the type of blood disorder. A blood disorder is a condition which is impacting the count of the blood cells like red blood cells, white blood cells, platelets, etc. Blood disorders affect millions of people each year across the world irrespective of age, race, and sex. For instance, according to the World Health Organization, Hemoglobin disorder is affects 75% of the total births globally and the prevalence of Anemia is 12.7% in men.

Competitive Landscape -
Major companies operating in the hematology diagnostic devices and equipment market include Abbott Diagnostics, Beckman Coulter Inc., Bio-Rad Laboratories Inc., Drucker Diagnostics Inc., Horiba Ltd., Instrumentation Laboratory Inc., Siemens Healthcare, Shenzhen Mindray Bio-Medical Electronics Co. Ltd., F.Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., HemoCue AB, Mindray Medical International Limited, NORMA Group, Danaher Corporation, Edan Instruments Inc., Novo Nordisk, Sysmex Corporation, Fluidigm Corporation, CellaVision, Maccura Biotechnology Co., DY mind Biotech, Balio Diagnostics, BioSystems Diagnostics Pvt. Ltd., Wiener Lab, Accurex Biomedical Pvt. Ltd., ARKRAY USA, Boule Diagnostics AB, DermaFlow, Diagnostics Holdings, Diatron Group, EKF Diagnostics Holdings, Grifols, S.A., ICU Medical Inc., Nihon Kohden Corporation, Ortho Clinical Diagnostics, PixCell Medical, STRATEC Biomedical AG, Terumo BCT, Z-Medica Corporation

Automation Technology Revolutionizes Hematology Diagnostic Devices And Equipment Market
Companies in the field of hematology diagnostic devices are increasingly investing in automation technology. Automation technology advancements are driving the demand for hematology analyzers, and this automation will reduce the errors caused by manual practices in diagnostic centers. For example, top companies like Sysmex acquired a CLIA waiver for a new automated hematology analyzer, and by selling this product, Sysmex makes it possible for clinical facilities to perform hematology testing without any manual errors. CLIA regulations establish quality standards for laboratory testing performed on specimens from humans, such as blood, body fluid, and tissue, for diagnosis, prevention, or treatment of disease, or assessment of health.

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Key Segments -
The hematology diagnostic devices and equipment market covered in this report is segmented -

1) By Product: Instruments, Consumables
2) By Instruments: Analyzers, Flow cytometers, Other Instruments
3) By Consumables: Reagents, Stains, Other Consumables
4) By Application: Drug Testing, Auto-Immune Disease, Cancer, Diabetes Mellitus, Infectious Disease, Other Applications
5) By End User: Hospitals, Specialized Diagnostic Centers, Specialized Research Institutes

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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