Clinical Chemistry Global Market Report 2022: Ukraine-Russia War Impact

NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Major players in the clinical chemistry market are Abbott Laboratories, F. Hoffmann-La Roche Ltd., ELITech Group, Beckman Coulter Inc., Thermo Fisher Scientific Inc., Siemens AG, Ortho Clinical Diagnostics, Diatron Mi Apac Private Limited, Nova Biomedical Corportation, Johnson & Johnson Services Inc., Alfa Wassermann Inc., HORIBA Ltd., Mindray Medical International Ltd., Randox Laboratories Ltd., and SYNLAB International GMBH.

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The global clinical chemistry market is expected to grow from $ 11.93 billion in 2021 to $ 12.76 billion in 2022 at a compound annual growth rate (CAGR) of 7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The clinical chemistry market is expected to grow to $ 15.69 billion in 2026 at a CAGR of 5.3%.

The clinical chemistry market consists of sales of clinical chemistry by entities (organizations, sole traders, and partnerships) that are used to measure analytic, or physiologically significant compounds, to offer precise estimates of their concentration.Clinical chemistry is a quantitative field of study that measures the concentrations of biologically significant chemicals, or analytes, in bodily fluids.

The techniques used to measure these compounds are meticulously planned to offer precise estimates of their content.

The main types of products in clinical chemistry are analyzers, reagents, and consumables.The term "analyzer" refers to a laboratory device that is used to determine the concentration of certain compounds in samples of serum, plasma, urine, and/or other bodily fluids and a device that initiates reactions utilising reagents using the pale-yellow supernatant part (serum) of centrifuged blood or urine samples.

The different applications include general chemistry tests, liver function tests, kidney function tests, urinalysis, electrolyte panels, lipid profiles, specialty chemical tests, and others that are used in hospitals, diagnostic and pathology centers, ambulatory surgery centers, and other end users.

North America was the largest region in the chemical chemistry market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the clinical chemistry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The increasing prevalence of chronic diseases is expected to propel the growth of the clinical chemistry market going forward.A chronic disease is a condition that lasts for a year or longer, necessitates continuous medical care, restricts daily activities, or both.

Chronic diseases, including diabetes, cancer, and heart disease, are the top causes of death and disability across the globe.Clinical Chemistry creates and enhances techniques for determining the illness status and risk of a number of chronic diseases, such as cardiovascular disease, diabetes, and hormone disorders.

It uses laboratory support for initiatives involving the flu and particular infectious diseases. For instance, according to the World Health Organization (WHO), a Switzerland-based specialized agency responsible for international public health, in 2021, cardiovascular disease (CVD) took the lives of 17.9 million individuals worldwide in 2019, accounting for 32% of all deaths. Heart attacks and strokes were responsible for 85% of these deaths. CVDs were responsible for 38% of the 17 million premature deaths (before the age of 70) caused by no communicable diseases in 2019. Therefore, the increasing prevalence of chronic diseases is driving the growth of the clinical chemistry market.

Technological advancements are a key trend gaining popularity in the clinical chemistry market.Major companies operating in the clinical chemistry sector are focused on adopting new technological solutions to strengthen their market position.

For instance, in July 2019, Trivitron Healthcare, an India-based medical device company, launched Nanolab 200, a super-efficient clinical chemistry analyzer and a cost-effective diagnostic solution.The Nanolab 200 is a fully automated, small benchtop clinical chemistry analyzer with a capacity of 200 tests per hour.

The device incorporates a versatile sample and reagent probe with liquid-level detecting technology and collision safety.The Teflon-coated mixing arm of Trivitron’s Nanolab 200 includes options for variable speed control.

Additionally, the system has a built-in laundry that is designed to use the least amount of water possible, making it the most appropriate technology.

In May 2021, Roche, a Switzerland-based company that deals in pharmaceuticals and diagnostics, acquired GenMark Diagnostics for USD 1.8 million. Through this acquisition, Roche will be able to broaden its line of molecular diagnostic products and add techniques that can quickly offer patients and healthcare professionals with information that can save their lives. In addition, Roche’s management of infectious diseases and antibiotic resistance would be improved by GenMark’s ePlex technologies. GenMark Diagnostics is a US-based provider of multiplex molecular diagnostic solutions with expertise in syndromic testing and clinical chemistry.

The countries covered in the clinical chemistry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The clinical chemistry market research report is one of a series of new reports that provides clinical chemistry market statistics, including clinical chemistry industry global market size, regional shares, competitors with clinical chemistry market share, detailed clinical chemistry market segments, market trends and opportunities, and any further data you may need to thrive in the clinical chemistry industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

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