Global Clinical Chemistry Analyzers Industry Outlook
According to the current analysis of Reports and Data, the global Clinical Chemistry Analyzers market was valued at USD 10.48 Billion in 2018 and is expected to reach USD 15.91 Billion by the year 2026, at a CAGR of 5.7 percent. Clinical chemical analyzers are the computerized equipment used to analyze the stages of sugar and protein in blood. Owing to their accuracy and time efficiency, these devices are used for the analysis of various diseases such as diabetes, hyperlipemia, among others.
Increase in incidences of chronic lifetime diseases, and an increasing aging population are the factors that drive the global clinical chemistry analyzers market during the forecast period. The technological advancements in clinical chemistry analyzers such as StaRRsed Inversa automated erythrocyte sedimentation rate (ESR) analyzer, computer-assisted interpretation, and artificial intelligence have enabled large scale testing, have led to early-stage disease detection of diseases in the various areas such as oncology, gynecology, & endocrinology. Moreover, consistent efforts by healthcare organizations to increase the reliability of data fuels the demand for clinical chemical analyzers. Moreover, increasing awareness regarding preventative healthcare and specialized diagnostic methods, and rising healthcare expenditure are the factors expected to propel the market growth during forecast period. The Clinical chemistry analyzers market is much fragmented and includes a large number of manufacturing giants as well as emerging players. Additionally, the emerging players have a good opportunity to enter the clinical chemistry analyzers market, owing to developments in the market and high demand from end-use industries.
The global pharma & healthcare market report points out the key trends and developments taking place in this business space in the ongoing COVID-19 times. According to market experts, the pandemic has turned this industry upside down, with an unprecedented rise in demand and acute supply shortage. The report clearly depicts the current global economic landscape and the considerable situation of the healthcare industry. A substantial increase in demand for healthcare services worldwide, rising cases of the SARS-CoV-2 infection, increasing pharmaceutical research & development activities, and new drug pipelines are among the key factors that have driven the global pharma & healthcare industry growth in the recent past. Growing acceptance of telehealth and telemedicine services, rise in government initiatives for COVID-19 vaccine development, and escalating demand for advanced point-of-care diagnostics and home healthcare products have further bolstered the industry growth.
Further key findings from the report suggest
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- Growing demand for clinical chemistry analyzers for various applications such as monitoring disease, drugs of abuse testing is also resulting in high growth of the market
- Europe is expected to be the fastest growing market segment with a CAGR of 5.9% owing to increased healthcare spending by governments of the countries in Europe
- Based on the type of test, the lipid profile segment is expected to grow at the highest CAGR of 6.3% during the forecast period
- Asia Pacific region is expected to witness lucrative growth at CAGR of 5.2% owing to high prevalence rate of chronic diseases and the growing geriatric population in the region.
- However, the high cost of analyzers and risk of result uncertainty are some of the restraining factors for the clinical chemistry analyzers market growth over the forecast period.
In-depth Study of the Competitive Landscape:
The global Clinical Chemistry Analyzers market consists of various market players, which make this business sphere highly competitive. In this section of the report, the authors have provided authentic information on product portfolios, new product innovations, technological capabilities, and product pricing strategies of each of these players. Moreover, it discusses the key strategies implemented by these players, such as mergers & acquisitions, joint ventures, collaborations, partnerships and agreements, to build on their market presence.
Top companies profiled in the report include:
Roche, Thermo Fisher, Johnson & Johnson, and Siemens, Beckman Coulter
Key Market Regions Covered in the Report:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Test Type (Revenue, USD Million; 2016–2026)
- Basic Metabolic Panel
- Electrolyte Panel
- Lipid Profile
- Renal Profile
- Thyroid Function Panel
- Specialty Chemical Panel
End Use (Revenue, USD Million; 2016–2026)
- Hospital
- Academic Research Centers
- Diagnostic Laboratories
- Others
Research Objective
- To provide a comprehensive analysis of the Clinical Chemistry Analyzers Industry, thereby providing a detailed structure of the market.
- To provide detailed insights into factors driving and restraining the growth of the Clinical Chemistry Analyzers Industry.
- To estimate the market size of each market segment which in turn is responsible for revenue generation of the respective countries.
To provide strategic profiling of key companies present across the globe, and comprehensively analyze their competitiveness/competitive landscape in this market - To identify business opportunities in the Clinical Chemistry Analyzers Market
- To provide a country-wise market forecast for market segments and sub-segments.
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