Hematology Testing Market Is Set To Touch USD 6,335.9 Million Value by 2030, Says P&S Intelligence

NEW YORK, Feb. 2, 2023 /PRNewswire/ -- In 2022, the hematology testing market was valued at USD 3,987.4 million, and it is predicted to hit USD 6,335.9 million in 2030, progressing at a 6.0% CAGR between 2022 and 2030, as per P&S Intelligence. This is owing to the burgeoning cases of blood-related illness and increasing usage of high-throughput hematology analyzers.

The prevalence of hemoglobinopathies and thalassemia has significantly increased in recent years, which will drive the number of people who undergo hematological testing.

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Consumables Will Experience Faster Growth

The category of consumables holds the larger share, of about 70%, in the market. This category is predicted to grow at a rate of 7% in the years to come because hematological testing is performed using a variety of test kits and reagents.

Among the different types of consumables, reagents account for the largest share, of about 60%, and their sales are expected to grow at a CAGR of 5%.

Due to the rising prevalence of chronic and infectious illnesses, there has been a surge in the number of laboratory tests, thus driving the demand for reagents, which need to be purchased repeatedly.

Majority of Hematology Tests Are Performed as Part of Routine

The routine hematology tests category has the larger share, of around 70%. The relation between regular testing and different illness signs has been better understood as a result of technological improvements. This has led to a rise in the count of regular tests carried out to identify different health issues.

Byend user, hospitals held the largest share, of around 45%, in 2022.

• This is because hospitals are becoming more common, and they have a higher patient flow than other medical facilities.
• Additionally, they establish contracts with suppliers to regularly buy analyzers and associated consumables.
• Further, the majority of the people choose hospitals over alternative healthcare settings because the former provide access to knowledgeable personnel to patients of acute and chronic disorders.

Browse detailed report on Hematology Testing Market Growth, Share, Size and Demand Forecast Report 2030

Hematologic Tests Are Mostly Used in North America

With a market size of almost USD 2 billion in 2022, North America held the top spot in the industry. This is largely due to the advantageous reimbursement policies, favorable patient demographics, and growing prevalence of numerous blood-borne illnesses.

Further, the APAC market is predicted to grow by around 8% in the years to come. This can be attributed to the rising blood-related disease prevalence, growing blood donation activities, increasing government funding, and surging public awareness of blood donation.

Moreover, China and India, combined, account for an over 50% share in APAC, due to the high rate of flow cytometry adoption in these nations.

Hematology Testing Market Report Coverage

By Product

• Instruments
• Analyzers
• Fully automated
• Semi-automated
• Flow cytometers
• Consumables
• Reagents
• Stains
• Controls & calibrators

By Test

• Routine Hematology Tests
• Special Hematology Tests

By End User

• Hospitals
• Diagnostic Laboratories
• Blood Banks

Regional Analysis

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia-Pacific
• China
• India
• Japan
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Middle East and Africa
• Saudi Arabia
• South Africa

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SOURCE P&S Intelligence