The Global Clinical Chemistry Analyzers Market Size is Projected to Reach USD 15.2 Billion by 2026 from USD 12.3 Billion in 2021, at a CAGR of 4.3%
Market growth is driven by factors such as the rising geriatric population and the increasing prevalence of chronic & lifestyle diseases, growing adoption of Point-of-Care testing devices and rising demand for laboratory automation. On the other hand, high capital investment, shortage of clinical laboratory technicians, and the availability of refurbished products is expected to limit market growth to a certain extent in the coming years.
The reagents accounted for the highest growth rate in the clinical chemistry analyzers market, by product, during the forecast period
The clinical chemistry analyzers market is segmented into analyzers, reagents and other products. The reagents segment accounted for the highest growth rate in the clinical chemistry analyzers market in 2020. The requirement reagents in large numbers compared to analyzers is the main factor contributing to this segment's high growth rate. This segment's market growth can also be attributed to repeat purchases of reagents compared to analyzers.
Lipid profile tests segment accounted for the highest CAGR
Based on the test type, the clinical chemistry analyzers market is segmented basic metabolic panels, electrolyte panels, liver panels, lipid profiles, renal profiles, thyroid function panels, and specialty chemical tests. In 2020, the lipid profile tests segment accounted for the highest growth rate. Rapid growth in obesity rates and the increasing incidence of obesity-related diseases are the major factors driving this segment's growth.
Hospitals and clinics segment accounted for the highest CAGR
Based on end-users, the clinical chemistry analyzers market is segmented into hospitals and clinics, diagnostic laboratories, research laboratories & institutes, and other end users. In 2020, the hospitals and clinics segment accounted for the highest growth rate. This can be attributed to increasing number of hospitals worldwide owing to the increasing incidences of diseases & disorders, increasing adoption of analyzers and rising technological advancements.
Asia Pacific: The fastest-growing region clinical chemistry analyzers market
The global clinical chemistry analyzers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Growth in this region is expected to be centered on China and Japan.
Factors such as the rising geriatric population, high burden of chronic diseases, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, expansion of private-sector hospitals to rural areas in various APAC countries, an increasing number of hospitals and clinicsare driving the growth of the clinical chemistry analyzers market in this region.
Some of the key players in the clinical chemistry analyzers market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), and Siemens Healthineers AG (Germany).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights 4.1 Clinical Chemistry Analyzers Market Overview 4.2 Clinical Chemistry Analyzers Market, by Product, 2021 Vs. 2026 (USD Million) 4.3 Clinical Chemistry Analyzers Market, by Type, 2021 Vs. 2026 (USD Million) 4.4 Clinical Chemistry Analyzers Market, by Region, 2021 Vs. 2026
5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 126.96.36.199 Rising Geriatric Population and the Increasing Prevalence of Chronic & Lifestyle Diseases 188.8.131.52 Growing Adoption of Point-Of-Care Testing Devices 184.108.40.206 Increasing Demand for Laboratory Automation 5.2.2 Restraints 220.127.116.11 the Requirement of High Capital Investments and a Shortage of Skilled Laboratory Technicians 18.104.22.168 Availability of Refurbished Analyzers 5.2.3 Opportunities 22.214.171.124 Increasing Government Initiatives and Funding for Preventive Care 5.2.4 Trends 126.96.36.199 Multichannel Operations of Integrated Analyzers 5.2.5 Covid 19 Impact Analysis 5.3 Pricing Analysis 5.4 Value Chain Analysis 5.5 Supply Chain Analysis 5.6 Ecosystem Analysis 5.7 Porter's Five Forces Analysis 5.8 PESTLE Analysis