Blood Cell Analyzer Market to Expand at a Modest CAGR of 6.2% by 2022
Global Blood Cell Analyzer Market: Snapshot
World over, blood cell analyzers have gained prominence for the biochemical analysis of blood components among hospitals, diagnostic centers, pharmaceutical companies in patient care and laboratory settings. They are widely used in detecting common physiological indications for various blood-related disorders and in monitoring the overall health of patients in hospital settings. The rising application of these hematology analyzers in research settings, such as for drug development, is a prominent factor boosting the overall market. The advent of technologically advanced semi-automated and fully-automated cell analyzers with improved precision and accuracy is a key development opening up promising applications of these instruments. The striking precision that automated blood cell counters make differential analysis of the blood components, such as absolute leukocyte count, has boosted their application in patient settings.
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The global blood cell analyzer market is estimated be worth US$1,364.2 Mn by 2017 end and is forecast to reach a valuation of US$1,844.9 Mn by 2022 end. The market is estimated to register a CAGR of 6.2% during the assessment period of 2017–2022.
Substantial Demand for Automation in Blood Cell Analyzers to Account for Dominance of Fully Automated Biochemistry
The two main product types of blood cell analyzers are semi-automated biochemistry analyzers and fully automated biochemistry analyzers. Of the two, semi-automated biochemistry segment holds the leading share currently and is expected to retain its dominance throughout the forecast timeline. The fully automated biochemistry analyzer market is expected to be worth US$1,071.1 by 2017 end, representing the major share of 78.5%. The segment is forecast to reach US$1,476.2 Mn by 2022, accounting for the leading share of 80.0% in the market. The segment is projected to rise at a CAGR of 6.6%, growing at US$81 Mn annually over the assessment period. This represents the leading growth in absolute terms. The growth of this segment is expected to be fueled by the burgeoning demand for error-free automated analyzers for rapid biochemical analysis of blood in various parts of the world.
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North America Predicted to be Most Attractive Regional Market
The various regional markets for blood cell analyzers are North America, the Middle East and Africa, Asia Pacific excluding Japan, Japan, Europe, and Latin America. Of these, currently North America is the leading market and is anticipated to retain its dominance throughout the forecast period. The North America blood cell analyzer market is projected to rise from a valuation of US$516.9 Mn in 2017 to reach a worth of US$717.5 Mn by the end of 2022. The regional market is projected to rise at a compound annual growth rate of 6.8% during 2017–2022. The vast adoption of automation in hematology in various clinical settings and substantial advancements in physical technologies used for blood cell counters are key factors expected to accentuate the market over the forecast period.
Asia Pacific excluding Japan (APEJ) to rise at Prominent Pace
Asia Pacific is one of the most attractive markets for blood cell analyzers witnessing a burgeoning demand for clinical diagnostics market and drug development in several of its emerging and developed economies. The demand is driven by the rising incidence of chronic diseases, constant advancements in diagnostics instruments, and growing awareness of populations of blood related disorders. Rising at a CAGR of 6.7% from 2017 to 2022, the regional market is forecast to reach US$295.5 Mn by 2022 end.
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