Hematology Diagnostics Market Outlook (2023 to 2033)

The hematology diagnostic market is estimated to be valued at USD 780.0 million in 2023 and is rising to USD 2.0 billion by 2033. The market is estimated to register a CAGR of 9.9% during the forecast period. Various factors influencing the market include:

  • The rising number of blood disorders and cancer is expected to increase the adoption of hematology diagnostics during the forecast period.
  • The increasing prevalence of chronic, acute, and infectious diseases is accelerating the demand for hematology diagnostics.
  • Rising advanced technology and research & development activities are surging the hematology diagnostics market opportunities.
  • The increasing adoption of artificial intelligence integrated with flow cytometry and telehealth propels the market growth.
  • Rising healthcare infrastructure and growing patient population for several blood disorders such as thalassemia, anemia, and sickle cell.
  • The growing awareness, improved efficiency, and standardized diagnostics drive market opportunities during the forecast period.
  • Increasing adoption of point-of-care diagnostics in the medical diagnostic sector to reduce time and provide accurate results drives market share.
  • Increasing adoption of high-tech and non-invasive hematology devices.
Attributes Details
Market CAGR (2023 to 2033) 9.9%
Market Valuation (2023) USD 780 million
Market Valuation (2033) USD 2.0 billion

Don't pay for what you don't need

Customize your report by selecting specific countries or regions and save 30%!

Factors Limiting the Market Growth

The rising costs of hematology diagnostic and novel diagnostic procedures are limiting the market growth as people in low and middle-income countries find it difficult to receive expensive treatment, whereas lack of awareness may also restrict the market growth.

The rapidly growing blood diseases, related disorders, and infections such as blood clots, anemia, cancer, and hemophilia are driving market expansion. A report published by Bristol-Myers Squibb stated that nearly one million cases of blood cancer were recorded globally in 2020. Additionally, rising hemoglobinopathies disorder may increase the market growth during the forecast period.

Increased Automation Surge the Market Opportunities

The adoption of automation in hematology diagnostics to improve efficiency and standardize processes are rising market opportunity. Various diagnostic laboratories accept automation processes to collect samples, avail quick results, and recognition tests, and reduce administrative errors. These factors are estimated to increase the demand for automated hematology diagnostics during the forecast period.

Sabyasachi Ghosh
Sabyasachi Ghosh

Principal Consultant

Talk to Analyst

Find your sweet spots for generating winning opportunities in this market.

Hematology Diagnostics Market, 2017 to 2022 Historical Sales, Compared from 2023 to 2033 Future Outlook

According to Future Market Insights, the global hematology diagnostics market is projected at a healthy CAGR of 9.9% during the forecast period. Historically, the market registered a CAGR of 11.8% between 2017 and 2022.

The market changes as per the product adoption rates and device regulations under the macro and industrial dynamics. The key developments in the market include complete lab automation for hematology diagnostics. With the fourth wave of technology and automation around the globe, the market has been positively influenced by total laboratory automation strategies.

  • Short-term (2023 to 2026): The rising prevalence of blood diseases such as cancer, blood clot, infections, and others are increasing the demand for hematology diagnostics.
  • Med-term (2026 to 2029): The increasing advanced technology, government initiatives, and healthcare infrastructure propelling market growth.
  • Long-term (2029 to 2033): Growing novel technology and automation in hematology diagnostics to improve the efficiency of testing and treatment, driving market opportunities.

The market is estimated to reach USD 2.0 billion during the forecast period. In the historical period, the market stood at a valuation of USD 700 million from 2017 to 2022.

Top Two Segment in the Market

Segments Kit Type
Top Category Blood Typing Kits
Historic CAGR 11.2%
Forecast CAGR 9.4%
Segments Modality
Top Category Lab-based Testing
Historic CAGR 11%
Forecast CAGR 9.1%

Which Distribution Channel is Expected to be Lucrative?

The hospital segment holds a dominant market share and is predicted to maintain this stance during the forecast period. However, the diagnostic laboratories segment is expected to experience rapid growth over the forecast period owing to an increase in diagnostic centers. The increasing availability of advanced diagnostic instruments and devices and the demand for hospitals propel market growth.

Blood Typing Kits are the Preferred Category in the Kit Type Segment

Based on kit type, blood typing kits lead the global market by securing a CAGR of 9.4% during the forecast period. The rising demand for blood typing kits to perform blood tests easier and quicker and identify blood types. This segment contributes a huge revenue in the general healthcare routine and in discovering diseases which may drive market expansion.

The blood typing kits check various tests such as iron deficiency, allergy, vitamins, and anemia propel market opportunities. Historically, the blood typing kits captured a CAGR of 11.2% between 2017 and 2022.

Get the data you need at a Fraction of the cost

Personalize your report by choosing insights you need
and save 40%!

Top Countries Data Table Mentioned Below

Country United States
AGR (2017 to 2022) 11.5%
AGR (2023 to 2023) 9.7%
Valuation (2023 to 2033) USD 708.6 million
Country United Kingdom
AGR (2017 to 2022) 10.5%
AGR (2023 to 2023) 8.9%
Valuation (2023 to 2033) USD 84.2 million
Country China
AGR (2017 to 2022) 11.1%
AGR (2023 to 2023) 9.3%
Valuation (2023 to 2033) USD 143.5 million
Country Japan
AGR (2017 to 2022) 10.0%
AGR (2023 to 2023) 8.4%
Valuation (2023 to 2033) USD 117.3 million
Country South Korea
AGR (2017 to 2022) 8.6%
AGR (2023 to 2023) 7.6%
Valuation (2023 to 2033) USD 69 million

How is the Market Expected to Perform in the USA?

Rising Incidence of Blood Cancer to Boost Hematology Diagnostics Demand!

The USA is securing a CAGR of 9.7% with a valuation of USD 708.6 million during the forecast period. The USA has seen a spike in the incidence of blood cancer in recent years, and it is expected to increase in the coming years. Due to high technological proliferation, the USA hematology diagnostics market is expected to provide lucrative opportunities.

The presence of developed healthcare infrastructure and high research and development activity is predicted to flourish the USA market during the forecast period. Historically, the USA market captured a CAGR of 11.5% between 2017 and 2022.

Increasing Focus on Healthcare to Positively Impact South Korea Hematology Diagnostics Market

South Korea registers a CAGR of 7.6% with a valuation of USD 69 million during the forecast period. Focus on healthcare has bolstered in recent years in South Korea, creating many opportunities for healthcare diagnostic providers. The nation is also experiencing a surge in blood disorders and incidences of blood cancer. These factors are propelling the South Korean market during the forecast period. Historically, the market secured a CAGR of 8.6% between 2017 and 2022.

Growing Research and Development Activities Boost United Kingdom Market Growth

The United Kingdom's hematology diagnostics market is anticipated to hold a CAGR of 8.9%, with a valuation of USD 84.2 million during the forecast period. The rising prevalence of blood cancer and the presence of key hematology diagnostics companies are expected to be key factors propelling the market growth.

The rising research & development and government initiatives to boost awareness for hematology diagnostics are driving the United Kingdom market. The increasing prevalence of blood disorders, healthcare, and rising instances of genetic blood disorders are expected to propel the United Kingdom market.

Rising investments in healthcare infrastructure and new market entrance are anticipated to promote the market potential in this region. Historically, the United Kingdom market secured a CAGR of 10.5% between 2017 and 2022.

Improvement in Therapy Products Enhance the Performance of China Market

The China hematology diagnostics market is anticipated to hold a CAGR of 9.3% with a valuation of USD 143.5 million during the forecast period. Increasing healthcare infrastructure, urbanization, and improvement in diagnostic therapy products are driving the China market.

Rising government regulations and increasing initiatives to generate awareness are anticipated to boost market growth during the forecast period. Historically, China secured a CAGR of 11.1% between 2017 and 2022.

Competitive Landscape

Hematology diagnostic providers are investing in the research & development of novel diagnostic solutions to enhance their market presence and boost revenue. Hematology diagnostic companies also focus on establishing new centers to deploy novel diagnostic solutions.

Healthcare manufacturers are developing various automation devices to reduce the workload and provide efficient results. Key players are conducting extensive research on the market and carrying out several marketing strategies to upsurge the market. Moreover, market players are involved in innovating new products and expanding distribution networks in the coming years.

Other Prominent Players in the Market are

  • Meyland Smith A/S
  • Abbot Laboratories
  • Bio-Rad Laboratories
  • Sysmex Corporation
  • Mindray Medical International Limited
  • Siemens Healthlineers
  • F. Hoffman-La Roche Ltd.
  • HORIBA Ltd.
  • HemoCue AB
  • Danaher (Beckman Coulter Inc.)
  • Nihon Kohden Corporation
  • EKF Diagnostics
  • Ortho Clinical Diagnostics
  • Drew Scientific

Recent Development in the Market

  • In October 2021, Suburban Diagnostics, a leading medical diagnostics industry, announced the launch of the Centre of Excellence in Hematology. The new establishment provides research support and training in diagnostic procedures for multiple common and uncommon hematological disorders.
  • In Apr 2022, Sysmex Corporation launched its new systems, including XQ-320 and XQ-Series. These systems are automated and equipped with a multi-feature to meet the requirement of healthcare laboratories.
  • In Mar 2022, Mindray, a healthcare device developer, launched its latest BC-700 series. This hematology analyzer series can incorporate erythrocyte sedimentation rate and complete blood count tests.

Scope of Report

Attribute Details
Forecast Period 2023 to 2033
Historical Data 2017 to 2022
Market Analysis USD billion for Value
Key Countries Covered United States, Canada, Germany, United Kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Northern Africa, and South Africa, Türkiye
Key Segments Covered Kit Type, Modality, Distribution Channel, Region
Key Companies Profiled Meyland Smith A/S; Abbot Laboratories; Bio-Rad Laboratories; Sysmex Corporation; Mindray Medical International Limited; Siemens Healthlineers; F. Hoffman-La Roche Ltd.; HORIBA Ltd.; HemoCue AB; Danaher (Beckman Coulter Inc.); Nihon Kohden Corporation; EKF Diagnostics; Ortho Clinical Diagnostics; Drew Scientific
Report Coverage Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing Available upon Request

Hematology Diagnostics Market by Category

By Kit Type:

  • Anemia and Iron Test Kits
  • Folic Acid Testing Kits
  • Sickle Cell Screening Kits
  • PT/INR Testing Kits
  • D-dimer Testing Kits
  • Blood Typing Kits
  • Leukemia Testing Kits
  • Sepsis Testing Kits
  • Antibiotics Resistance Panels
  • Bacterial & Fungal Panels

By Modality:

  • Point of Care
  • Lab-based Testing

By Distribution Channel:

  • Hospitals
  • Diagnostic Laboratories
  • Cancer Research Institutes
  • Retail Pharmacies
  • Drug Store
  • Online Sales Channels

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia & Pacific
  • East Asia
  • Middle East & Africa (MEA)

Frequently Asked Questions

What is the Revenue generating Capacity of the Global Hematology Diagnostics Market?

The global hematology diagnostics market might create a revenue of around USD 780 million in 2023.

Which is the Leading Regional Market for Adoption of Hematology Diagnostics Services?

In the United States the net worth of the total hematology diagnostics adopted by 2033 could be USD 708.6 million.

Which is the Largest Regional Market for Hematology Diagnostics in Asia Pacific Region?

China is the leading market and the regional demand is expected to grow at 9.3% CAGR until 2033.

Based on Kit Type, Which Segment Dominates the Overall Hematology Diagnostics Market?

The blood typing kits segment dominated and is forecasted to register 9.4% CAGR through 2033.

What was the Historical Growth Rate in Global Adoption of Hematology Diagnostics Services?

Between 2017 and 2022, the global demand for hematology diagnostics services surged at 11.8%.

Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033
  • 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Kit Type
    • 5.1. Anemia and Iron Test Kits
    • 5.2. Folic Acid Testing Kits
    • 5.3. Sickle Cell Screening Kits
    • 5.4. PT/INR Testing Kits
    • 5.5. D-dimer Testing Kits
    • 5.6. Blood Typing Kits
    • 5.7. Leukemia Testing Kits
    • 5.8. Sepsis Testing Kits
    • 5.9. Antibiotic Resistance Panels
    • 5.10. Bacterial & Fungal Panels
  • 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Modality
    • 6.1. Point of Care
    • 6.2. Lab-based Testing
  • 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Distribution Channel
    • 7.1. Hospitals
    • 7.2. Diagnostic Laboratories
    • 7.3. Cancer Research Institutes
    • 7.4. Retail Pharmacies
    • 7.5. Drug Store
    • 7.6. Online Sales Channels
  • 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region
    • 8.1. North America
    • 8.2. Latin America
    • 8.3. Europe
    • 8.4. East Asia
    • 8.5. South Asia & Pacific
    • 8.6. Middle East and Africa (MEA)
  • 9. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 10. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 11. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 12. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 13. South Asia & Pacific Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 14. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country
  • 15. Key Countries Market Analysis
  • 16. Market Structure Analysis
  • 17. Competition Analysis
    • 17.1. Drew Scientific
    • 17.2. Abbot Laboratories
    • 17.3. Bio-Rad Laboratories
    • 17.4. Sysmex Corporation
    • 17.5. Mindray Medical International Limited
    • 17.6. Siemens Healthlineers
    • 17.7. F. Hoffman-La Roche Ltd.
    • 17.8. HORIBA Ltd.
    • 17.9. HemoCue AB
    • 17.10. Danaher (Beckman Coulter Inc.)
    • 17.11. Nihon Kohden Corporation
    • 17.12. EKF Diagnostics
    • 17.13. Ortho Clinical Diagnostics
    • 17.14. Meyland Smith A/S
  • 18. Assumptions & Acronyms Used
  • 19. Research Methodology
Recommendations

Consumer Product

Therapeutic Contact Lenses Market

January 2023

REP-GB-7920

300 pages

Explore Healthcare Insights

View Reports
Future Market Insights

Hematology Diagnostics Market

Schedule a Call