Blood Volume Analyzer Market Snapshot (2023 to 2033)
The global blood volume analyzer market was anticipated to reach a valuation of US$ 4.4 Billion in the year 2022. With a steady CAGR of 9.4% from 2023 to 2033, this market is expected to reach US$ 4.81 Billion by 2023 and US$ 11.82 Billion by 2033.
Over the forecast period of 2023 to 2033, the prevalence of cardiovascular diseases and blood disorders is anticipated to have a significant influence on the blood volume analyzer market. The expanding elderly population, increasing medical expenses, technological advancements, and rising obesity levels are significant factors influencing the expanding utilization of blood volume analyzers. On the other hand, over the projection period, there will be considerable opportunities for the blood volume analyzer market to develop due to emerging markets and the expanding reagent rental industry.
There is a desire for such blood volume analyzers to be widely employed in a range of medical facilities as a result of the launch of novel analyzers by leading market participants that are small and easy to integrate. The demand for these analyzers is also rising as more people throughout the world become aware of the healthcare system. Rapid technological improvements and testing facility optimization are also driving the sector as a whole.
Demand for this kind of analyzer has significantly increased as a consequence of the spread of cutting-edge medical facilities, lab facilities, treatment centers, and educational establishments that have come after. Given the rise in heart attacks as well as blood disorders, demand for blood volume analyzers is also rising. Due to their ease of use and performance capabilities, patients may use these analyzers at home to check their blood status. The aforementioned elements are anticipated to accelerate market expansion globally.
The quality and productivity of hemostasis laboratories have improved over the past ten years as a result of the quick development of technology and the introduction of new blood volume analyzer tests. Several of the modern sophisticated coagulators are very adaptable, throughput-efficient, and reliable. Moreover, they offer enhanced accuracy and precision in addition to complex yet user-friendly software featuring built-in graphs as well as calibration curves. Also, there has been a sharp increase in the occurrence of blood and heart problems worldwide, calling for the advancement of blood volume analyzers.
Blood volume analyzer sales are increasing steadily in the North American area. This could be linked to the rising prevalence of blood diseases and the rise in the diagnostic industry's usage of blood volume analyzers. For instance, anemia, a prevalent illness, affects over three million Americans, especially women who are "of reproductive age," as stated by the American Society of Hematology. These elements have increased the need for blood volume analyzers in the area.
In the worldwide market for blood volume analyzers, several industry participants are always concentrating on the creation and release of new products. A portable blood volume analyzer called the DxH 560 AL was introduced by Beckman Coulter in February 2021 to ease the time and resource restrictions experienced by small- to mid-sized facilities. Similar to this, in November 2021, Avricore Health Inc. inked a non-exclusive pilot provider distribution agreement in Canada involving the portable blood chemistry analyzer i-STAT Alinity between HealthTab Inc., a complete subsidiary, and Abbott, the international healthcare corporation. Consequently, it is anticipated that such product introductions would improve the demand and sales of blood volume analyzers from 2023 to 2033.
Data Point
Key Statistics
Expected Market value in 2023
US$ 4.81 Billion
Expected Market value in 2033
US$ 11.82 Billion
Growth Rate (2023 to 2033)
9.4% from 2023 to 2033
The blood volume analyzer is the diagnostic test used to measure the amount of blood in the body in which a small amount of a radioactive isotope, called iodinated-RISA, is injected.The test also measures the volume of plasma and red blood cells in the blood.
Blood volume analyzer is used in the diagnosis of anemia, polycythemia, and other disorder such as heart diseases, kidney disorders etc. Blood samples are then taken and used for making analysis such as to evaluate the amount of blood in the body, calculate the percentage of red blood cells in the bloodstream, test for electrolytes in the blood and determine the level of certain blood pressure-regulating hormones.
The global blood volume analyzer market is growing with the increasing demand for early detection of blood disorders.Pandemic coronavirus has caused a disturbance in almost all the industries. The novel coronavirus has also affected the blood volume analyzer market.
Due to the coronavirus, the flow of patients into the hospital and clinics has been reduced which has resulted in the reduced blood testing. There has been a disruption in the supply of various materials used to carry out the diagnostics procedure which is hampering the blood volume analyzer market.
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Blood Volume Analyzer Market: Drivers and Restraints
Increasing prevalence of various blood associated diseases such as anemia, leukemia, kidney disorders, heart attack and others are the major force driving the blood volume analyzer market. The rise in the diagnostics tests for early disease discovery is anticipated to boost the global blood volume analyzer market.
Apart from drivers, there are some factors which restrain the growth of the blood volume analyzer market such as lack of awareness of such tests and also absence of skilled labor. The shortage of trained professionals is the major challenge to blood volume analyzer market.
Blood Volume Analyzer Market: Overview
Based on the test type, the blood volume analyzer market has been segmented into blood enzyme test, blood chemistry test, and blood clotting test. Blood enzyme test is expected to hold the maximum revenue share in the blood volume analyzer market.
Based on the product type, the blood volume analyzer market has been segmented into automated blood culture systems, and manual blood culture systems.Automated blood culture systems is expected to be the most preferred product type in the blood volume analyzer market.
Based on the end-user, the blood volume analyzer market has been segmented into hospitals, clinics, diagnostic centers and others. Hospitals are expected to be the most profitable segment in the blood volume analyzer market.
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Blood Volume Analyzer Market: Regional Outlook
North America is expected to be a dominant market in the blood volume analyzer market because of the presence of well-established healthcare infrastructure and availability of advanced healthcare facilities.
The Asia Pacific is anticipated to hold a noteworthy growth rate of blood volume analyzer market.The blood volume analyzer market in the Asia Pacific is expected to grow at a significant CAGR due to the presence of a large population in countries like India and China. Europe is also expected to hold a large revenue share in the blood volume analyzer market owing to the increasing population and increasing healthcare awareness regarding early detection tests.
Blood Volume Analyzer Market: Key Players
There are few key players operating in the blood volume analyzer market:
Abbott Laboratories
Siemens AG
Danaher Corporation
Quest Diagnostics
Trivida Healthcare Inc.
Trinity Biotech plc. Bioamerica Inc.
Becton
Dickinson and Company
Sofina
INSTITUT MERIEUX SA
F. Hoffmann-La Roche AG
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The report covers exhaustive analysis on
Blood Volume Analyzer Market Segments
Blood Volume Analyzer Market Dynamics
Blood Volume Analyzer Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Regional analysis includes
North America (USA, Canada)
Latin America ( Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
Europe (Germany, Italy, United Kingdom, Spain, France, Russia, Belgium, Netherlands, Luxemburg, Norway, Denmark, Iceland, Sweden, Poland, Ukraine, Czech Rep, Rest of Europe)
Asia Pacific Excluding Japan (India, Australia & New Zealand, Greater China, S. Korea, ASEAN Countries, Rest of APEJ)
Japan
CIS & Russia
Middle East and Africa (GCC, Turkey, Iran, Israel, South Africa, Rest Of MEA)
Blood Volume Analyzer Market: Segmentation
Tentatively, the blood volume analyzer market can be segmented based on product type, test type, end-user, and geography.
