Product innovation is vital in the hematology analyzer market
Key players active in the hematology analyzer market are introducing new and innovative products to maintain or increase their market share. Recent advancements including Artificial Intelligence systems such as 6 part differential type, C - reactive protein analyzer, and simultaneous blood cell analyzer are just a few of the innovations the market has seen in recent years. The touchscreen and silent design concept are well-suited to meet present-day requirements in the hematology analyzer market. Companies are also enthusiastically participating in various marketing campaigns, particularly those centered on medical conventions and expos.
Excess inventory a critical challenge in the hematology analyzer market
Obsolete inventory refers to those products that have become outdated and the sales of which have ceased in the hematology analyzer market. This is primarily because the product has reached the end of its useful lifecycle. These products can become a huge burden on even financially stable companies because product conversion is minimal and they need to be written-off, causing considerable financial strain. The best example of this is semi-automatic hematology analyzers that are slowly but surely going the way of the Dodo. This can breed fear in the minds of major players in the hematology analyzer market as they may delay or halt large-scale investments in unproven technologies.
3D approach represents a paradigm shift in the hematology analyzer market
The hematology analyzer market has witnessed fierce technological evolutions because of the introduction of new methods for cellular analysis and the rapid development of software. There has been a marked improvement in data management and analytic efficiency. Modern products in the hematology analyzer market are able to provide a wealth of information that is both qualitative and quantitative in nature. Real-time graphical data allows information pertaining to disease patterns and abnormal cell populations to be easily obtained. All these processes go a long way in reducing manual reviews, thereby boosting the efficiency in the hematology analyzer market. A noticeable shift in the hematology analyzer market has been from manual counting towards 100% automation. The future is predicted to have more advancements because of the large R&D funds that market leaders in the hematology analyzer market have pledged in this field. Next-gen analyzer technology has been created with advanced clinical parameters to improve 3D imaging and clinical utility.
6 part differential to register the highest CAGR in the global hematology analyzer market
In 2016, the 6 part differential segment had a revenue share of slightly over 11% of the global hematology analyzer market and it should gain 35 basis points during the course of the forecast period ending in 2024. This is primarily because of the widespread adoption of 6 part differential technology globally. An absolute dollar opportunity of almost US$ 7 Mn is waiting to be tapped in the 6 part differential segment in 2017 over 2016. By 2024, the 6 part differential segment is anticipated to touch US$ 230 Mn on account of a high CAGR of 6.1% during this period. The revenue in the 6 part differential segment is poised to rise 1.6X over the eight-year study period of the hematology analyzer market. The demand for 6 part differential technology is mainly because of the quicker pace of innovation seen in the 6 part differential segment as opposed to the other two segments in the hematology analyzer market.
North America accounts for close to 40% of the global hematology analyzer market
The U.S. dominated the North America hematology analyzer market with a revenue share of nearly 90% in end 2016 and it is forecast to gain 37 BPS by the end of the forecast period. Within North America, the 6 part differential product type segment was worth just under US$ 72 Mn in 2016 and this is predicted to rise to roughly US$ 117 Mn by the end of 2024 as the 6 part differential segment is expected to witness the highest CAGR of 6.3% in the North America hematology analyzer market.
Hematology analyzers are clinical, quantitative laboratory equipment that provide a reticulocyte analysis for in vitro diagnostic use, a leukocyte differential count, and a complete blood count. Modern equipment in the hematology analyzers market uses a combination of several methods such as light absorption, light scattering, electrical conductivity, and electrical impedance to produce complete platelet, RBC, and leukocyte analysis. The rapid developments in this truly exciting market necessitate an in-depth study which is why we have prepared the ‘Hematology Analyzer Market: Global Industry Analysis and Forecast, 2016-2024’ report.
We have divided the global hematology analyzer market into five broad geographic regions for the study viz. APAC, MEA, Europe, North America, and Latin America; each of which has its own section in the report that focuses on regional hematology analyzer market traits. These sections include the BPS analysis, Y-o-Y regional growth projections, the market value forecast, and market attractiveness analysis. The regional markets are also studied on the basis of product type, modality, and end user and a market attractiveness of all these follows. The prominent trends that impact only that specific region of the global Hematology Analyzer Market are also included and they go a long way in providing our readers valuable insights.
Best-in-class research methodology to study the hematology analyzer market
We at Persistence Market Research have devised a world-class research methodology that allows us to race ahead of our rivals in the industry. Our diverse team of analysts from across the globe begin their study with all-encompassing primary and secondary research to understand the Hematology Analyzer Market. The analysts prepare a market player list that comprises all relevant nodes of the value chain and formulate a questionnaire to allow the extraction of critical data pertaining to the Hematology Analyzer Market. After our analysts have gathered the necessary data, they validate it exhaustively using the triangulation method wherein they combine their unique insights with both primary and secondary research conducted at the initial stage. Lastly, we scrutinize the final data sets using advanced company tools to deliver all the information that our clients need to understand the Hematology Analyzer Market till the end of the forecast period.
The Hematology Analyzer Market introduction section has two vital aspects of the Hematology Analyzer Market – the definition and the taxonomy. For report readers who seek a grassroots level understanding of the Hematology Analyzer Market, we highly advise the perusal of this section before all others.
Hematology Analyzer Market Taxonomy
By End User
In the healthcare industry, competition is rife, regulatory control is intense, and the laggards can scarcely recover if they fall behind in the hematology analyzer market. That is why it is absolutely imperative to assess the competitive landscape before you as a key stakeholder make any long-term strategic investment decisions. Our competition landscape has the market share analysis for every profiled company in 2015 along with an easy-to-understand competitive dashboard. We have profiled the most important players active in the hematology analyzer market. Our competition section covers the key financial metrics, long-term strategies adopted, and recent company developments so that you can conduct a competition SWOT analysis without too much difficulty.
The hematology analyzer market report begins with the executive summary that is a brief yet comprehensive first glance at the hematology analyzer market. This section consists of the hematology analyzer market overview and key figures such as CAGR and absolute and incremental dollar opportunity. Our analysts have assessed the hematology analyzer market for an eight-year period ending in 2024 and they have given their expert opinions and recommendations on the direction the hematology analyzer market is expected to move in. The recommendations are in the form of the overall market approach to be taken, geographies to target, and strategies to adopt to succeed in the hematology analyzer market. For our readers who may be pressed for time and seek a ‘quick info byte’, this chapter can be considered their holy grail.