Hematology Diagnostics Market Size

Global Hematology Diagnostics Market Overview

Hematology Diagnostics Market Size was valued at USD 6.405 billion in 2023. The hematology diagnostics market industry is projected to grow from USD 6.725 billion in 2024 to USD 8.7 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.27% during the forecast period (2024 - 2032). The hematology diagnostics market is expected to rise significantly because of the rising prevalence of blood disorders. Other vital factors like an increase in the majority of genetic diseases, the rise in hematological testing, growing blood transfusions and donations, and increasing adoption of automated hematology analyzers are the key market drivers contributing towards the hematology diagnostics market growth. 

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Hematology Diagnostics Market Trends

• Rise in hematological testing boost market growth

The increased prevalence of blood disorders is the main factor fueling the expansion of the hematology diagnostics market. The aging population will probably continue to fuel market expansion. Increasing consumer awareness of blood diseases is anticipated to significantly boost the market growth. In the upcoming years, the players competing in the  hematology diagnostics market may benefit significantly from increased investment in research & development activities to produce new diagnostic solutions. A prominent factor propelling the expansion of the  hematology diagnostics market is the rise in the number of people affected by blood illnesses. The demand for hematology diagnostics has increased as blood illnesses like anemia, thalassemia, and hemophilia are becoming more common. According to National Institutes of Health data, anemia affects roughly 29% of women and 38% of pregnant women each year (NIH). Also, because they may accurately detect diabetes, hypotension, and hypoglycemia, all of which are characterized by elevated blood glucose levels, hematologic tests are becoming more and more common in countries with a substantial diabetic population. During the anticipated time, it is anticipated to increase market revenue.

Hematology Diagnostics Market Segment Insights

Hematology Diagnostics Product Type Insights

The hematology diagnostics market segmentation based on product type is divided into sub-segments Hematology Analyzer, Flow Cytometer, Consumable. The Hematology Analyzers segment is projected to maintain its dominance over the forecast period. This might be ascribed to increased demand for consumables in diagnosing blood diseases and other infections. In addition, increasing test volume owing to rising awareness and early detection is also fueling the segment's growth. The instrument segment is further subdivided into analyzers, flow cytometers, and others. In 2022 segment revenue was dominated by analyzers. Technological advancements and increasing automation are anticipated to be the primary growth to the  hematology diagnostics market revenue.

November 2022 Luspatercept can improve red blood cell transfusion independence (TI) in patients with myelodysplastic syndromes (MDS) with ring sideroblasts who did not respond to an erythropoiesis-stimulating agent (ESA). Still, the duration of the benefit has been undermined. Longer follow-up (median >2 years) of the phase 3 MEDALIST trial now reports that the benefits of luspatercept grew over time.

August 2022 Mitapivat is a small molecule that activates red blood cell pyruvatekinase, an enzyme that produces energy from adenosine triphosphate. In a small research involving 20 patients with non-transfusion-dependent thalassemia, mitapivat was linked to increases in hemoglobin in 16, including all five participants with alpha thalassemia and 11 of 15 with beta thalassemia.

Hematology Diagnostics Tests Insights

The hematology diagnostics market data has been based on test type; the hematology diagnostics market is divided into Hemoglobinopathy, Leukemia Phenotyping. The hemoglobinopathy held the most significant market share in terms of revenue in 2017 and is expected to grow at a profitable CAGR throughout the projected period Several conditions, such as anemia, allergy, vitamin and iron deficiencies, and infections, are easily diagnosed through these tests. Abnormal CBC  results from rapid other non-hematological confirmatory tests may diagnose long-term conditions, acute infectious diseases, blood cancers, bone marrow and autoimmune disorders, liver and spleen diseases, and other malignancies.

Figure 1 Hematology Diagnostics Market, by Test, 2023 & 2030 (USD Billion)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Hematology Diagnostics End-use Insights

The hematology diagnostics market segmentation, based on end-use, the hematology diagnostics industry is divided into Hospitals & Clinics, Diagnostic Laboratories. In 2022, the ho Hospitals & Clinics spital end-use segment dominated. On the other hand, it is projected that the diagnostics labs segment will expand rapidly over the forecast period. The increasing number of diagnostic centers and availability of advanced instruments are anticipated to fuel the hematology diagnostics industry.  Furthermore, the automation of diagnostic devices is projected to reduce the cost of these tests and increase the demand.

November2022 Hematologists investigate blood disorders' causes, symptoms, and treatment. Diseases and cancers of the blood and related tissues are the focus of hematology, a medical specialty. The rising prevalence of blood disorders such as leukemia, lymphoma, and sickle cell anemia drives the growth opportunity of the hematology diagnostics industry.

Hematology Diagnostics Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. North America Hematology Diagnostics Market accounted for USD 6.1 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. This is attributed to the growing incidence of the rise in hematological testing, growing blood transfusions and donations and increasing adoption of automated hematology analyzers are contributing towards the growth of the hematology diagnostics market across the Region.

Further, the significant countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3 HEMATOLOGY DIAGNOSTICS MARKET SHARE BY REGION 2023 (%)

Source Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Hematology Diagnostics Market accounts for the second-largest market share due to the increasing hematology research and government initiatives within this region influences the growth of hematology diagnostics market in this region. Further, the Germany Hematology Diagnostics Market held the largest market share, and the UK Hematology Diagnostics Market was the fastest-growing market in the European Region.

The Asia-Pacific Hematology Diagnostics Market is anticipated to drive the fastest CAGR. The hematology diagnostics market is expected to witness growth owing to the rising prevalence of blood disorders and genetic diseases initiatives to improve healthcare infrastructure are expected to fuel the regional market growth.

However, the Middle East and Africa account for a minor share of the hematology diagnostics market due to the strict government regulations and undeveloped economies. Nonetheless, the market is anticipated to expand due to significant investments made by private players in the Middle East hematology diagnostics market. Also, the growing prevalence of genetic blood disorders and rising government measures to enhance the Region's healthcare system contribute to the growth of the hematology diagnostics market.

Hematology Diagnostics Key Market Players& Competitive Insights

Major market players in Hematology diagnostic providers are investing in the research & development of innovative diagnostic solutions to improve their market position and increase revenue. Hematology diagnostic products to strengthen their market presence and sales revenue. Hematology diagnostic companies also concentrate on setting up new centers to deploy new diagnostic solutions.

The Hematology diagnostics industry is developing several automation devices to ease the workload and produce effective outcomes. Key players perform in-depth market development and implement several marketing techniques to upsurge the market. Moreover, market players are involved in innovating new products and enlarging distribution networks in the hematology diagnostics industry. The hematology diagnostics market major players include Beckman Coulter, Inc.; Siemens Healthineers; Mindray Medical International Limited; F. Hoffmann-La Roche Ltd.; and Sysmex Corporation. New product developments, mergers and acquisitions, and collaborations are effective strategies these players adopt to counter stiff competition.

Suburban Diagnostics, a premier medical diagnostics industry, announced the opening of its Centre of Excellence in Hematology. The new facility offers research support and training in diagnostic procedures for numerous common and uncommon hematological disorders.

The XQ-320 and XQ-Series are among the new system introduced by Symex Corporation. These systems are automated and equipped with a multi-feature to fulfill the requirement of healthcare laboratories.

Mindray Medical International Limited is a Chinese multinational medical instrumentation manufacturer based in Shenzhen, Guangdong. Mindray designs and produces medical equipment and accessories for human and veterinary use. Mindray, a healthcare device developer, introduced its latest BC-700 series. This hematology analyzer series can incorporate erythrocyte sedimentation rate and complete blood test count.

Key Companies in the Hematology Diagnostics Market include

• Sysmex (Japan)


• Danaher (US)


• Nihon Kohden (Japan)


• Siemens (Germany)


• Abbott Laboratories (US)


• Boule Diagnostics (Sweden)


• HORIBA (Japan)


• Bio-Rad Laboratories (US)


• BioSystems (Spain)


• Diatron (Hungary)


• Drew Scientific (US)


• EKF Diagnostics (UK)


• Mindray (China)


• Ortho Clinical Diagnostics (US)


• Roche (Switzerland) 

Hematology Diagnostics Industry Developments

In April 2022, Sysmex Europe introduced the XQ-320 XQ-Series Automated Hematology Analyzer, a three-part differential system with a wide range of capabilities created to serve a variety of laboratories within healthcare facilities.

In March 2022, Mindray introduced the new BC-700 Series, a cutting-edge hematology analyzer series that includes both CBC and ESR tests.

Hematology Diagnostics Market Segmentation

Hematology Diagnostics by Product Outlook

• Hematology Analyzers


• Fully-automated Hematology Analyzers


• Semi-automated Hematology Analyzers


• Flow Cytometers


• Consumables


• Reagents


• Stains


• Controls & Calibrators


• Others

Hematology Diagnostics by Tests Outlook

• Anemia


• Hemoglobinopathy


• Leukemia/Lymphoma Phenotyping


• Hematology pathophysiology


• Complete blood count (CBC)


• Others

Hematology Diagnostics by End User Outlook

• Hospitals & Clinics


• Ambulatory Surgical Centers


• Diagnostic Laboratories


• Academic Institutes


• Others

Hematology Diagnostics Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America