Rockville , July 24, 2023 (GLOBE NEWSWIRE) -- According to this latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global Hematocrit Test Market is projected to exhibit a CAGR of 5%, reaching a market size of US$ 4.9 billion by 2033.
A hematocrit test measures the proportion of red blood cells in the blood, expressed as a percentage. It helps evaluate the blood's oxygen-carrying capacity, hydration status, and overall blood health. The market for hematocrit tests is expanding due to the rising prevalence of cardiovascular illnesses, different types of cancer, and other conditions.
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Increasing incidence of blood-related disorders, such as anemia, polycythemia, and hematological cancers, is driving the demand for hematocrit tests. These tests aid in the early detection, diagnosis, and monitoring of such conditions, leading to effective treatment outcomes.
A hematocrit level that is below the normal range, indicating inadequate red blood cells, is considered anemia. Therefore, the hematocrit test is quite important in the diagnosis of anemia. Hematocrit tests are predicted to be more in demand because of the rising prevalence of anemia.
The need for hematocrit testing is anticipated to rise as a result of government measures to raise anemia awareness. In 2021, to raise awareness of low hemoglobin levels in women and children, the Women and Child Development Department launched the Anemia Campaign 12. Thus, this will probably increase demand for hematocrit tests and assist in the expansion of the market.
Growing awareness of preventive healthcare and routine health check-ups is boosting market expansion. Individuals are increasingly taking proactive measures to monitor their blood health and identify potential health risks at an early stage. Technological advancements in hematology analyzers and point-of-care testing devices have made hematocrit tests more accessible and efficient. Automated analyzers provide rapid and accurate results, reducing the turnaround time for diagnosis and improving patient care.
Key Takeaways from Market Study
- The global hematocrit test market is valued at US$ 3 billion in 2023.
- Sales of hematocrit test devices are predicted to reach US$ 4.9 billion by 2033.
- Worldwide demand for hematocrit test devices is forecasted to rise at a CAGR of 5% through 2033.
- North America is leading the global market with 40% share in 2023.
- Hematocrit test analyzers account for 50% share of overall sales in 2023.
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“Integration of hematocrit test results with electronic health records enhances data management and facilitates better healthcare decision-making. This integration streamlines patient care and enables healthcare providers to track and monitor blood health over time, thereby driving their popularity,” says a Fact.MR analyst
Key Segments of Hematocrit Test Industry Research
- Mindray
- Boule Diagnostics
- Abbott
- Roche
- Siemens
- Nihon Kohden
- Bio-Rad Laboratories
- Danaher
- Horiba
- Sysmex Corporation
Winning Strategy
The market for hematocrit tests is characterized by intense competition among key players offering a wide range of testing solutions. These companies strive to gain a competitive edge through product innovations, strategic partnerships, and expanding their geographical presence. Top market participants continually strive to introduce innovative solutions that enhance the accuracy, efficiency, and accessibility of hematocrit testing.
For instance,
- PixCell Medical developed a portable point-of-care testing device called HemoScreen™. This device employs patented viscoelastic focusing technology to deliver accurate hematocrit results within minutes using only a single drop of blood. The compact and user-friendly nature of HemoScreen™ makes it suitable for use in various settings, including clinics, emergency rooms, and remote locations.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global hematocrit test market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the hematocrit test market based on product (hematocrit test analyzers, hematocrit test meters, reagents & consumables, others), indication (anemia, leukemia, lymphoma, congenital heart diseases, kidney tumor), and end user (hospitals, clinics, diagnostic centers, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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