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Hematocrit Test Devices Market Size, Growth, Market Analysis, Segmentation, And Forecast To 2033
Hematocrit Test Devices Market Share
According to The Business Research Company's, The hematocrit test devices market size has grown strongly in recent years. It will grow from $4.35 billion in 2023 to $4.63 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to a rise in awareness regarding anemia, lack of iron and vitamins, increased incidence of chronic illnesses, the surge in government funding, and increase in the population.
The hematocrit test devices market size is expected to see strong growth in the next few years. It will grow to $5.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to increasing prevalence of anemia, growing cases of blood disorders, rise in geriatric population, growth in focus on health and fitness, and widening need for cardiovascular diagnostic equipment. Major trends in the forecast period include the introduction of cutting-edge solutions, advancement of technology in medical science, creation of new efficient and innovative products, technical developments in hematocrit testing, and advancements in the healthcare sector.
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Market Drivers and Trends:
The growing cases of blood disorders are expected to propel the growth of the hematocrit test devices market going forward. A blood disorder is a condition that affects the components of human blood, including red blood cells, white blood cells, platelets, and blood plasma. Blood disorders are becoming more common due to several variables, including genetic predispositions, pollution in the environment, and lifestyle changes. Hematocrit test devices are primarily used to measure the volume percentage of red blood cells in whole blood, providing crucial information about the patient's hematological health. For instance, in January 2024, according to a report published by the American Cancer Society, a US-based non-profit organization, approximately 62,770 new cases of leukemia, encompassing all types, are anticipated in the United States in 2024, leading to an estimated 23,670 deaths. Among these cases, around 20,800 new instances of acute myeloid leukemia (AML) are expected, primarily affecting adults, with approximately 11,220 deaths attributed to AML, almost exclusively occurring in adult patients. Therefore, the growing cases of blood disorders are driving the growth of the hematocrit test devices market.
Major companies operating in the hematocrit test device market are developing innovative products, such as complete blood count (CBC) hematology analyzers, to provide quantitative and qualitative information about these blood cells. A complete blood count (CBC) hematology analyzer is an automated instrument used to measure and analyze various components of blood, including red blood cells (RBCs), white blood cells (WBCs), and platelets. For instance, in March 2022, Mindray Medical International Limited, a China-based medical device company, launched the BC-700 hematology analyzer series, a complete blood count (CBC) hematology analyzer that incorporates both complete blood count (CBC) and erythrocyte sedimentation rate (ESR) tests. The BC-700 hematology analyzer, along with its counterparts BC-720, BC-760, and BC-780, constitutes a series tailored to empower medium-volume laboratories with cutting-edge diagnostic technologies akin to those found in premium products. The BC-700 Series is a more compact version of the high-end BC-6000 Series, built on the same platform and distinguished by Mindray's SF Cube 3D analysis technology. The SF Cube technology uses fluorescence and bi-angular laser scatter signals to analyze target cells in three dimensions.
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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthcare GmbH, Becton, Dickinson and Company (BD), Terumo Corporation, Beckman Coulter Inc., Mindray Medical International Limited, bioMérieux SA, Sysmex Corporation, Horiba Ltd., Nihon Kohden Corporation, Erba Mannheim, Heska Corporation, EKF Diagnostics Holding Plc., Nova Biomedical Corporation, Boule Diagnostics AB, Stanbio Laboratory Lp, Drucker Diagnostics, A. Menarini Diagnostics Srl, Sensa Core, Mikroscan Technologies Inc.
Hematocrit Test Devices Market 2024 Key Insights:
• The hematocrit test devices market size is expected to see strong growth in the next few years. It will grow to $5.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%.
• Impact Of Blood Disorders On The Hematocrit Test Devices Market
• Innovative CBC Hematology Analyzers Revolutionize Blood Cell Analysis
• North America was the largest region in the hematocrit test devices market in 2023
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The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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