The factors driving the growth of this market include the growth in the number of blood donations, the increasing incidence of blood disorders, and the integration of flow cytometry techniques with hematology analyzers.
The global Hematology analyzers and reagents market is projected to reach USD 10.6 billion by 2025 from USD 7.6 billion in 2020, at a CAGR of 6.9%.
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Some of the prominent players in the global hematology analyzers and reagents market are Sysmex Corporation (Japan), Abbott Laboratories (US), Danaher Corporation (US), and EKF Diagnostics (UK). An analysis of the market developments between 2016 and 2019 revealed that several growth strategies such as product launches, product approvals, acquisitions, collaborations, partnerships, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the hematology analyzers and reagents market.
Sysmex (Japan) held the leading position in the global hematology analyzers and reagents market. The company is an integrated supplier of instruments and reagents in the field of diagnostics. It focuses on expansions, agreements, and new product launches to ensure its growth in the hematology analyzers and reagents market. In line with this, over the last three years, the company launched XN-9100, XN-3100, XN-1500, XN-L, and SP-50 (an automated hematology slide preparation unit). The company has improved its sales and support networks in emerging markets, which has helped it maintain its leading position in the hematology analyzers and reagents market by adopting inorganic and organic growth strategies. Therefore, the organizational focus on developing more technologically superior products is fueling its growth in the industry.
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Abbott Laboratories (US) held the second position in the global hematology analyzers and reagents market. To maintain its market position and ensure future growth, the company adopted organic and inorganic growth strategies. In line with this, In January 2018, the company launched its Alinity h-series integrated hematology systems across Europe. It also partnered with North West London Pathology (NWLP) (UK) for the distribution of its hematology analyzers. These strategies are prime factors behind why the company is expected to witness growth in the hematology analyzers and reagents market in the coming years.
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