Launch of User-Friendly Hematology Analyzers is the Best Way to Venture into the Market

The global hematology testing is perceived to be a market with high attractiveness, by the investors. Strong investments in this field aided by considerable research activities by both public and private sectors are expected to propel the growth of the market in the years that follow. In spite of having several favorable factors, investments into the market are being hindered by the slow adoption rate of expensive hematology testing devices in low income and middle-come countries of the world. The most promising way to venture into this market and gain measurable profits is through innovations and development of advanced, compact, accurate, and user-friendly hematology analyzers.

Sysmex Corporation, headquartered in Japan is catering to in-vitro diagnostics, offers wide range of hematology testing products ranging from hematology analyzers and flow cytometers to reagents, stains, controls, and calibrators. The huge product contribution of the company resulted in its market dominance in 2017 and 2018, with an overall good amount of the global market share in 2017 and 34.73% of the global market share in 2018. Following Sysmex Corporation, Abbott Laboratories was the second major contributor of the global market revenue, accounting for good rate of the total market share in 2017 and 2018, respectively.

Next to North America, Europe is the second leading contributor of the global hematology testing market. Increasing research and investments pertaining to the development technologically advanced hematology testing products coupled with significant support from both public and private sectors in terms of funding are the key driving factors for the growth of the hematology testing in Europe. Europe contributed to 23.00% of the market share in 2018. Within Europe, Germany is the leading country and Italy is expected to witness the highest CAGR during the forecast period between 2019 and 2029.

The global hematology testing market, by end user, is concentrated around hospitals, clinical testing laboratories, research institutions, and patient self-testing, among others. With the growing prevalence of blood-related disorders across the world, the need to develop advanced hematology tests is growing rapidly leading to vast technological advancement in the field of hematology.