Dublin, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The "Clinical Chemistry Analyzers Market by Product (Fully-automated and PoC Analyzers, Reagents), Test Type (Basic Metabolic, Liver, Renal, Lipid, Thyroid Function), End User (Hospitals, Clinics, Laboratories, Research) & Region - Global Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The global clinical chemistry analyzers market size is projected to reach USD 16.5 billion by 2028 from USD 13.0 billion in 2023, at a CAGR of 4.9%
This report provides a comprehensive analysis of major industry players, offering insights into their business profiles, solutions, services, and strategic activities such as contracts, partnerships, agreements, new product launches, mergers, acquisitions, and recent developments within the clinical chemistry analyzers market. Additionally, the report includes a competitive analysis of emerging startups within this market ecosystem.
The clinical chemistry analyzers market is experiencing substantial growth driven by various factors. Key drivers encompass the expanding elderly population and the increasing prevalence of chronic and lifestyle-related diseases. Furthermore, the adoption of Point-of-Care testing devices and the growing demand for laboratory automation are significant contributors to the market's ongoing expansion.
However, certain challenges, including high capital investment requirements, a shortage of skilled clinical laboratory technicians, and the presence of refurbished products, could temper market growth in the foreseeable future.
The Asia Pacific region is poised to exhibit the highest compound annual growth rate (CAGR) during the forecast period, primarily led by countries like China and Japan. Several factors contribute to the growth of the clinical chemistry analyzers market in this region. The rising elderly population and the escalating burden of chronic diseases create substantial demand for advanced diagnostic solutions. Additionally, improving per capita income and healthcare infrastructure in Asia Pacific countries bolster the adoption of clinical chemistry analyzers.
Key market players are also making significant investments in the healthcare sector, further propelling market growth. The increasing demand for cutting-edge technologies and the expansion of private-sector healthcare facilities into rural areas across various Asia Pacific countries drive market expansion. Moreover, the growing number of hospitals and clinics in the region caters to the healthcare needs of the population, resulting in heightened demand for clinical chemistry analyzers.
This report also offers an in-depth evaluation of market rankings, growth strategies, and service offerings of leading players such as F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), Siemens AG (Germany), among others in the clinical chemistry analyzers market.
The reagents accounted for the highest growth rate in the clinical chemistry analyzers market, by product, during the forecast period
In the clinical chemistry analyzers market, the segments include analyzers, reagents, and other products. The reagents segment exhibited the highest growth rate in 2022.
This growth can be attributed to the substantial demand for reagents, which are required in larger quantities compared to analyzers. The continuous need for reagents and repeat purchases contribute to the significant market growth of this segment.
Lipid profile tests segment accounted for the highest CAGR
The clinical chemistry analyzers market is categorized based on test types, including basic metabolic panels, electrolyte panels, liver panels, lipid profiles, renal profiles, thyroid function panels, and specialty chemical tests. In 2022, the lipid profile tests segment exhibited the highest growth rate.
The growth of this segment can be attributed to the escalating obesity rates globally and the subsequent increase in obesity-related diseases. These factors significantly drive the demand for lipid profile tests, contributing to the robust growth of this segment in the clinical chemistry analyzers market.
Hospitals and clinics segment accounted for the highest CAGR
The clinical chemistry analyzers market is segmented based on end-users, including hospitals and clinics, diagnostic laboratories, research laboratories and institutes, and other end users.
In 2022, the hospitals and clinics segment exhibited the highest growth rate. This growth can be attributed to several factors, such as the global increase in the number of hospitals due to the rising incidences of diseases and disorders. Additionally, the growing adoption of analyzers in hospital and clinic settings, coupled with advancements in technology, has contributed to the significant growth of this segment in the clinical chemistry analyzers market.
Premium Insights
- Rising Adoption of Poc Products to Support Market Growth During Forecast Period
- Reagents Segment to Dominate Market During Forecast Period
- Basic Metabolic Panel Segment to Hold Largest Share During Forecast Period
- Hospitals & Clinics Segment to Continue to Dominate Market During Forecast Period
- Asia-Pacific Market Expected to Grow at Highest CAGR During Forecast Period
Market Dynamics
Drivers
- Rising Geriatric Population and Increasing Prevalence of Chronic & Lifestyle Diseases
- Growing Adoption of Point-Of-Care Testing Devices
- Increasing Demand for Laboratory Automation
Restraints
- Requirement for High Capital Investments and Shortage of Skilled Laboratory Technicians
- Availability of Refurbished Analyzers
Opportunities
- Increasing Government Initiatives and Funding for Preventive Care
- Growth Opportunities in Emerging Economies
Challenges
- Increasing Regulatory Requirements
- High Degree of Consolidation
Company Profiles
Key Players
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Abbott Laboratories
- Siemens Healthcare GmbH
- Thermo Fisher Scientific Inc.
- Horiba, Ltd.
- Sysmex Corporation
- Ekf Diagnostics
- Quidelortho Corporation
- Hitachi Ltd.
Other Players
- Mindray Medical International Ltd.
- Elitech Group
- Biobase Group
- Sfri
- Trivitron Healthcare Pvt. Ltd.
- Randox Laboratories Ltd.
- Medica Corporation
- Meril Life Sciences Pvt. Ltd.
- Erba Mannheim
- Genrui Biotech Co. Ltd.
- Dirui
- Teco Diagnostics
- Balio Diagnostics
- Snibe Co. Ltd.
- Ams Alliance
For more information about this report visit https://www.researchandmarkets.com/r/3th5ha
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