Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest Fact. MR analysis, the Americas hematology diagnostics market is forecast to reach a valuation of US$ 451 Mn by 2031 end.
Over 5% Growth Projected Hematology Diagnoistics Market in America, Next-Generation Sequencing (NGS) to Remain at the Epicenter
A Fact. MR survey on Americas hematology diagnostics market offers detailed analysis on growth drivers and trends affecting demand in terms of product, end-user and region. It also highlights various strategies adopted by key market players to gain a competitive edge in the self-care medical devices market.
Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest Fact. MR analysis, the Americas hematology diagnostics market is forecast to reach a valuation of US$ 451 Mn by 2031 end. Owing to the increasing demand for blood typing tests, the market is set to register a healthy CAGR of around 5% between 2021 and 2031.
The robust growth of the Americas hematology diagnostics market can be attributed to the increasing prevalence of blood disorders, growing demand for early diagnosis and treatment, technological advancements and expanding healthcare sector.
Cases of blood related diseases such as blood cancer and anemia are rising. This will inevitable create demand for blood testing kits to assist prompt diseases diagnosis.
Special attention is being given towards monitoring blood levels during pregnancy. According to World Health Organization (WHO) around 40% of pregnant women are anemic. This leads to the adoption of hematology diagnostic procedures.
The rising number of blood donation camps along with increasing blood transfusion procedures is positively impacting the demand for hematology diagnostics.
Manufacturers are using cutting edge technology to create lifesaving diagnostics with user-friendly features. New automated systems broaden capabilities beyond traditional methodologies that include cellular analysis combined with manual review.
Demand for Point of care diagnostic devices soared during the COVID-19 pandemic as people refrained from visiting hospitals and diagnostic centers.
Blood typing kits segment leads the Americas hematology diagnostics market. This can be attributed to the rapid utilization of these blood typing kits in the healthcare sector for determining exact blood profiles. The blood typing kit segment is set to expand at 4% CAGR during the forecast period.
Owing to the presence of advanced healthcare infrastructure and leading market players, North America will continue to dominate the Americas hematology diagnostics market. The North America market is forecast to hold 2/3 market share by the end of 2031.
“Increasing support from the government through investments and various awareness campaigns will drive the Americas hematology diagnostics market during the forecast period”, says the Fact. MR analyst.
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Key Takeaways from Americas Hematology Diagnostics Market Survey
- The U.S. has emerged as the most lucrative market for hematology diagnostics and is projected to account for over 77% market share by 2031 end.
- With the presence of key market players, the Canada hematology diagnostics market accounts for around 20% of the North American Market share.
- The market in Brazil is forecast to exhibit 5% CAGR between 2021 and 2031. This can be attributed to the rising patient pool in the country.
- Owing to the gradual improvement in healthcare sector, the market in Mexico is set to witness 8.3% CAGR during the forecast period.
- Blood typing kits dominate the Americas hematology diagnostics market. The segment is projected to expand at 4% CAGR between 2021 and 2031.
- Lab-based testing is expected to continue its dominance with a market share of around 80% during the forecast period.
Key Drivers
- Increasing prevalence of blood related disorders like blood cancer is driving the growth of hematology diagnostics market.
- Growing interest in point of care testing devices supplement the growth of market.
- Rising awareness about advanced hematology diagnostics along with huge demand for early and accurate disease diagnosis is positively impacting the hematology diagnostics market.
- Technological advancements in hematology diagnosis will drive the growth of the market further during the forecast period.
Key Restraints
- High cost associated with hematology diagnostics is hampering the growth of the market.
- Lack of awareness among people is restraining the growth of hematology diagnostics market.
- Absence of a proper healthcare insurance coverage for diagnostics procedures across some North and South American countries is also affecting the market growth to some extent.
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Competitive Landscape
Key Companies operating in the Americas hematology diagnostics markets are investing heavily on research and development activities. They have adopted various organic and inorganic strategies such as mergers and acquisitions, advanced product development and collaborations to gain a competitive edge in the market.
- In 2019, Danaher’s point of care focused HemoCue subsidiary launched its newest point-of-care hemoglobin test ( HemoCue® Hb 801 System) in the U.S. to enable healthcare providers to assess patients’ hemoglobin levels while present in their clinics.
- In July 2021, Cambridge Diagnostic Imaging, CaDi launched Lycobrain™, a first-in-class nutraceutical targeting tissue oxygenation, with supporting point-of-care diagnostic blood test.
- In March 2021, Roche launched Cobra pure integrated solutions analyzer to help simplify operations in small to medium sized labs.
Some of the prominent players operating in the Americas hematology diagnostics market profiled by Fact.MR are:
- BioMedomics, Inc.
- Biomerieux SA
- Abbott Laboratories
- BTNX Inc.
- i-SENS, Inc.
- Danaher
- ELDON BIOLOGICALS A/S
- F. Hoffmann-La Roche Ltd.
More Insights on the Global Americas Hematology Diagnostics Sales Outlook
Fact.MR provides an unbiased analysis of Americas hematology diagnostics market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the demand for Americas hematology diagnostics with a detailed segmentation on the basis of:
By Kit
- Hematology Anemia and Iron Test Kits
- Hematology Folic Acid Testing Kits
- Hematology Sickle Cell Screening Kits
- Hematology PT/INR Testing Kits
- Hematology D-dimer Testing Kits
- Hematology Blood Typing Kits
- Hematology Leukemia Testing Kits
- Hematology Sepsis Testing Kits
- Hematology Antibiotic Resistance Panels
- Hematology Bacterial & Fungal Panels
By Modality
- Point of Care
- Lab-based testing
Distribution Channel
- Hematology Diagnostics at Hospitals
- Hematology Diagnostics at Diagnostic Laboratories
- Hematology Diagnostics at Cancer Research Institutes
- Hematology Diagnostics through Retail Pharmacies
- Hematology Diagnostics through Drug Stores
Key Questions Covered in the Americas hematology diagnostics Sales Outlook Report
- The report offers insight into Americas hematology diagnostics demand outlook for 2021-2031
- The market study also highlights projected sales growth for Americas hematology diagnostics market between 2021 and 2031
- Americas hematology diagnostics market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Americas hematology diagnostics market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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