Hemoglobin testing devices market 2020 growth factors, latest trend and regional analysis of leading players by 2025
Category: #headlines  By Ronak Bora  Date: 2020-07-13
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Hemoglobin testing devices market 2020 growth factors, latest trend and regional analysis of leading players by 2025

According to the latest research report, the global hemoglobin testing devices market is expected to record 5.3% CAGR during the forecast period 2019-2025.

The hemoglobin testing devices market is slated to record significant gains over the forthcoming timeframe owing to the growing prevalence of anemia along with increasing technological advancements. Anemia is a public health issue which is affecting both the developed and developing countries. According to statistics, approximately 1.6 billion people in the world are affected by anemia. Rising number of government initiatives that focus on creating awareness about the ill effects of anemia, are further expected to drive the market demand in coming years.

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The demand for point of care testing is also increasing, since more test are being developed, and numerous clinicians are adopting them for regular diagnostics. In many situations, point of care hemoglobin testing devices might suitably substitute the conventional laboratory testing, which includes numerous areas of health care where a very quick hemoglobin measurement might be needed to make an instant therapeutic decision.

The role of technology in hemoglobin testing has created the path for the formation of various innovative techniques and devices for the quantification of hemoglobin concentration in patients. For example, usage of an automated hemoglobin analyzer, enables accurate, fast as well as reliable results in the field of hematology. Usually, a hemoglobin test generally depends on different techniques, which includes reagent, reagent less methods, and non-invasive methods.

Notable industry players operating in the market include EKF Diagnostics, Abbott, Danaher, Roche, B. Bayer medical care, and Biorad among others. Hemoglobin testing devices market is estimated to surpass a $5.3 billion valuation by 2025.   

Below is a brief overview of key trends that are stimulating the hemoglobin testing devices market growth:

Increasing use of laboratory analyzers

Laboratory analyzers are anticipated to witness a growth of 4.7% over the forecast time period. These type of analyzers for hemoglobin testing are generally used in research institutes as well as in some hospitals for the purpose of glucose and anemia testing.

Additionally, the rapidly rising research and development activities to improve the treatment solutions for anemia as well as other blood disorders is one of the key factors driving laboratory analyzers market growth.

Growing adoption of spectrophotometry technology

The spectrophotometry segment accounted for over $1.9 billion in 2018 and will witness noteworthy growth through the analysis timeframe. Spectrophotometry is a recent technique that is implemented in the hemoglobin analyzers which evaluate the results based upon the capacity of the compound to absorb light over a specific scope of wavelength.

According to the ICSH (International Committee for Standardization in Hematology), this technique has been regarded as the most apt way of diagnosing disorders related to blood. Consequently, the abovementioned factors are expected to substantially drive the business share.

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Growing demand for testing in clinics

The clinics end-use segment had a revenue share of about 22.7% in 2018 and will be registering momentous growth over the projected time period. Rapidly expanding establishment of clinics in developed and developing economies will augment segmental growth.

Furthermore, increasing inclination of the general population towards diagnostic clinics, due to the fact that they are equipped with ultra-modern facilities, would be further boost the business outlook in coming time. 

Partial Chapter of the Table of Content

Chapter 2. Executive Summary

2.1. Hemoglobin testing devices industry 3600 synopsis, 2014 - 2025

2.1.1. Business trends

2.1.2. Product trends

2.1.3. Technology trends

2.1.4. End-use trends

2.1.5. Regional trends

Chapter 3. Hemoglobin Testing Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 – 2025 (USD Million)

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Rising prevalence of anemia across the globe

3.3.1.2. Growing demand for point-of-care hemoglobin testing

3.3.1.3. Increasing technological advancements to provide non-invasive testing methods

3.3.2. Industry pitfalls & challenges

3.3.2.1. Product recalls due to inaccuracy in test results

3.3.2.2. High cost of laboratory analyzers

3.4. Growth potential analysis

3.4.1. By product

3.4.2. By technology

3.4.3. By end-use

3.5. Competitive landscape, 2018

3.5.1. Strategy dashboard

3.6. Product portfolio analysis

3.7. PESTEL analysis

Browse full table of contents (TOC) of this report @ https://www.decresearch.com/toc/detail/hemoglobin-testing-devices-market

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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