What’s Driving Growth in the Hematocrit Test Devices Market? Insights into Key Trends and Opportunities
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How has the hematocrit test devices market grown in recent years?
The market size of hematocrit test devices has seen robust growth in recent years. It is projected to escalate from $4.63 billion in 2024 to $4.95 billion in 2025, boasting a compound annual growth rate (CAGR) of 6.9%. The expansion during the historical period can be credited to an increase in knowledge about anemia, deficiency of iron and vitamins, a heightened prevalence of chronic diseases, a boost in government subsidies, and a rise in population.
How is the hematocrit test devices market size expected to evolve during the forecast period?
Strong growth is anticipated in the hematocrit test devices market in the coming years, with its size ballooning to $6.37 billion by 2029 at a compound annual growth rate (CAGR) of 6.5%. A range of factors are contributing to this growth, including the increasing incidences of anemia and blood disorders, a rising geriatric population, heightened focus on health and fitness, and an expanding need for cardiovascular diagnostic equipment. Several key trends are expected to shape the market during this period such as the development of innovative technological solutions, advanced medical science techniques, cutting-edge products, technical progress in hematocrit testing, and advancements made in the overall healthcare sector.
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Which key drivers are propelling the hematocrit test devices market’s growth?
The hematocrit test devices market is anticipated to expand due to the increasing instances of blood disorders. Blood disorders relate to conditions impacting human blood components, which could be white or red blood cells, platelets, or blood plasma. These disorders are becoming increasingly prevalent because of genetic susceptibility, environmental contamination, and changes in lifestyle. Hematocrit test apparatuses chiefly serve to calculate the proportion of red blood cells in the complete blood volume, providing essential data on the patient’s hematological condition. For instance, a report published by the American Cancer Society, a non-profit organization based in the United States, in January 2024, estimated approximately 62,770 new leukemia cases in all varieties, forecasted in the United States in 2024, leading to a rough estimation of 23,670 deaths. These cases are set to include around 20,800 new occurrences of acute myeloid leukemia (AML), mostly in adults, with roughly 11,220 deaths ascribed to AML, almost exclusively in adult patients. As such, the rising instances of blood disorders are fueling the expansion of the hematocrit test devices market.
What are the market segments in the hematocrit test devices industry?
The hematocrit test devices market covered in this report is segmented –
1) By Product: Hematocrit Test Meter, Hematocrit Test Analyzer, Reagents And Consumables
2) By Application: Anemia, Polycythemia Vera, Congenital Heart Diseases, Other Applications
3) By End-User: Hospitals And Ambulatory Surgical Centers, Clinics, Diagnostic And Pathology Labs, Other End-Users
Subsegments:
1) By Hematocrit Test Meter: Handheld Hematocrit Meters, Portable Hematocrit Meters, Desktop Hematocrit Meters, Point-Of-Care Hematocrit Meters, Digital Hematocrit Meters, Battery-Powered Hematocrit Meters
2) By Hematocrit Test Analyzer: Automated Hematocrit Analyzers, Benchtop Hematocrit Analyzers, Semi-Automated Hematocrit Analyzers, Microhematocrit Analyzers, High-Throughput Hematocrit Analyzers, Compact Hematocrit Analyzers
3) By Reagents And Consumables: Hematocrit Test Strips, Hematocrit Pipettes And Capillaries, Blood Sample Collection Tubes For Hematocrit Testing, Quality Control Reagents For Hematocrit Testing, Calibration Standards For Hematocrit Devices, Disposable Test Kits And Consumables
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Which leading companies are shaping the growth of the hematocrit test devices market?
Major companies operating in the hematocrit test devices market are F. Hoffmann-La Roche Ltd., Merck & Co. Inc., Bayer AG, Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthcare GmbH, Becton, Dickinson and Company (BD), Terumo Corporation, Beckman Coulter Inc., Mindray Medical International Limited, bioMérieux SA, Sysmex Corporation, Horiba Ltd., Nihon Kohden Corporation, Erba Mannheim, Heska Corporation, EKF Diagnostics Holding Plc., Nova Biomedical Corporation, Boule Diagnostics AB, Stanbio Laboratory Lp, Drucker Diagnostics, A. Menarini Diagnostics Srl, Sensa Core, Mikroscan Technologies Inc.
What key trends are currently impacting the hematocrit test devices market’s development?
Key firms in the hematocrit test device market are pioneering inventive tools like the complete blood count (CBC) hematology analyzers, which provide comprehensive insights into blood cell compositions. The CBC hematology analyzer is a modern machine designed to scrutinize and measure diverse blood components like red blood cells (RBCs), white blood cells (WBCs), and platelets. For example, Mindray Medical International Limited, a medical device firm based in China, in March 2022 unveiled the BC-700 hematology analyzer series. This series features a CBC hematology analyzer that combines both CBC and erythrocyte sedimentation rate (ESR) tests. The BC-700 hematology analyzer, together with the BC-720, BC-760, and BC-780, forms a series specifically designed to equip medium-volume labs with state-of-the-art diagnostic technologies akin to those available in premium products. The BC-700 Series is a smaller version of the elite BC-6000 Series and is recognised by Mindray’s SF Cube 3D analysis technology, which uses fluorescence and bi-angular laser scatter signals to assess target cells in three dimensions.
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Which geographic areas are influencing the growth of the hematocrit test devices market?
North America was the largest region in the hematocrit test devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the hematocrit test devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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