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| Global Hematology Market Size |
Hematology involves the study of blood and other blood-forming tissues like
bone marrow. Products associated with hematology include cell counters, flow
cytometry instruments, and reagents for research and diagnostics of diseases
like leukemia, lymphoma, and other blood-related cancers. The growing elderly
population and rising number of hematological disorders have been driving
demand for advanced diagnostic techniques and targeted therapies.
The global Hematology Market is estimated to be valued at US$ 2.19 Bn in 2024 and is expected to exhibit a CAGR of 6.9% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
Emerging clinical applications of hematology products have been one of the key
trends propelling the growth of this market. Flow cytometry and next generation
sequencing techniques have enabled hematologists to gain deeper insights into
hematological malignancies at the molecular level. This is facilitating the
development of targeted therapies and personalized treatment approaches. For
example, flow cytometry-based immunophenotyping is being used to precisely
classify leukemias and guide chemotherapy decisions. Similarly, new assays
based on digital PCR and targeted DNA sequencing are helping diagnose genetic
disorders affecting blood cells with higher accuracy. The ability of these advanced
techniques to deliver improved clinical outcomes is increasing their uptake in
healthcare facilities. This rising clinical demand is a major factor driving
the hematology market growth over the forecast period.
Segment
Analysis
The global hematology market is dominated by the reagents and consumables
segment. This segment accounted for over 45% of the market share in 2023 owing
to the high demand for reagents and consumables required for various blood
related tests across diagnostics and research applications. The large installed
base of hematology analyzers also contributes to the substantial demand for
reagents and consumables.
Key Takeaways
Global
Hematology Market Size is expected to witness high growth over the
forecast period of 2023 to 2030. It is anticipated to register a CAGR of 6.9% during this period driven
by increasing prevalence of blood disorders, rising geriatric population,
growing demand for diagnostic testing and technological advancements in
hematology analyzers.
Regional analysis: North America dominates the global hematology market,
accounting for around 35% of the total market share in 2023. This can be
attributed to factors such as high healthcare spending, presence of leading
market players, growing incidence of blood related disorders and increasing
focus on diagnostic testing in the region. Asia Pacific is expected to showcase
the fastest growth over the forecast period, expanding at a CAGR of around 8%,
owing to rising healthcare expenditure, improving access to healthcare services
and growing awareness about diagnostic testing.
Key players: Key players operating in the hematology market are Shaanxi
Undersun Biomedtech Co., Ltd., Tocris Bioscience (Bio-Techne Corporation),
BioOrigin, Nature's Sunshine Products, Inc., Organic Herb Inc., Damin Foodstuff
(Zhangzhou) Co., Ltd., Nutra Green Biotechnology Co., Ltd., Xian Yuensun
Biological Technology Co., Ltd., Guangxi Yiyuan Biotechnology Co., Ltd.,
Changsha Heking Bio-Tech Co., Ltd., Hangzhou Botanical Technology Co., Ltd., Novoherb
Technologies, Jiangsu Changhai Food Additive Co., Ltd., Xian Sost Biological
Science & Technology Co., Ltd., Xi'an Plant Bio-Engineering Co., Ltd. These
players are focusing on new product launches, technological advancements and
geographic expansion to strengthen their market presence.
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