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The Global Hematology Market is expected to grow at a CAGR of 5% from 2010 to 2017

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Hematology Reagents and Analyzers - Global Pipeline Analysis, Competitive Landscape and MarketForecasts to 2017


The Global Hematology Market is expected to grow at a CAGR of 5% from 2010 to 2017

The global hematology market is forecast to grow from $5.7 billion in 2010 to $8.1 billion by 2017 with a Compound Annual Growth Rate (CAGR) of 5%. The hemostasis market is the largest segment in terms of market size and accounted for almost 30% of the total revenue generated from hematology diagnostics in 2010. Hematology reagents, immunohematology and hematology rapid tests are the other three segments which contributed major shares in terms of market size and accounted for about 22%, 19%, and 11% respectively of the total revenue generated from hematology market in 2010.

The hemostasis segment will continue to witness high growth and remain as the largest segment in 2010. The global market for hemostasis is forecast to grow from $1.7 billion in 2010 to about $2.3 billion by 2017, with a CAGR of 5%. Development in bench-top high throughput hematology analyzers and in high sensitivity point of care tests will drive the growth in the global hematology market. Commercialization of innovative products is also likely to drive the future growth in the market.

The US is the Biggest Market for Hematology

The US market for hematology was valued at $2.8 billion in 2010 and is forecast


to grow at a CAGR of 5% to reach $4 billion in 2017. The US is the biggest market in the sector, contributing 50% towards the global hematology market in 2010. Hemostasis was valued at $921.7m in 2010. It will continue to be the largest segment by 2017, growing at an estimated 4% CAGR during the period 2010–2017 to reach $1.2 billion by 2017. The demand for hematology products in the US is mainly driven by increased awareness about preventive health care medicine. Furthermore, the market is expected to be driven by the increasing elderly population, automation and adoption of automated point of care testing instruments.

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The Shift to Preventive Medicine and Rising Levels of Basic Healthcare is Driving the Hematology Market

The US is implementing healthcare reforms centered on preventive healthcare to overcome the burden of rising healthcare costs. The healthcare reform bill


‘Affordable Care Act’ passed in the US in March 2010 is expected to greatly reduce the number of uninsured people in the country. This reform is expected to increase the percentage of people with medical insurance from about 80% at present to more than 90%. The ‘Affordable Care Act’ also encourages hospitals and providers to find new ways to provide higher quality care and avoid unnecessary hospital readmissions. Furthermore, the US government is adapting programs of preventive care for chronic diseases. The overall objective of these reforms is to invest more in preventive medicine, thereby decreasing the number of hospitalizations and the overall cost of care.

Similarly, an increasing number of governments in emerging markets are increasing efforts to raise their levels of basic healthcare. The healthcare reforms in China that commenced in 2009 involve an investment of $124 billion in public healthcare services over a three year period. Furthermore, in April 2008, Japan introduced a new system of specific health checks and specific healthcare education, aimed at insured individuals aged between 40 and 74 years. The implementation of these reforms will make basic healthcare undergo changes on a global basis. At the same time as this, the shift in preventive medicine and reforms in basic healthcare provide a huge opportunity for the diagnostic market. Overall the diagnostic testing sector, which includes hematology, is expected to play an important role in healthcare, thereby driving the hematology market.


Hematology Market is Expected to Experience Higher Growth Rates in Emerging Countries (China, India and Brazil) in the Future

China, India and Brazil are three emerging economies that are spending more than $2.5 billion per year on In Vitro Diagnostic (IVD) products. The hematology markets in these emerging economies are forecast to grow at a CAGR of 14%, 16% and 8% respectively during the period 2010–2017. The growth in these economies will be driven by increasing population, significant market potential, increasing health care expenditure and growing affordability for private medical care.

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Clinical Labs and Diagnostic Medicine

Both the Brazilian and Indian government follow a similar stratified structure to provide access to medical services for their populations. The public sector clinics and hospitals are strapped for cash and always poorly funded. In recent times


there has been an increasing investment in private health care infrastructure in these countries, specifically corporate hospitals and commercial labs. Private hospitals have there own internal institutional review boards and ethical committees, thus have a greater advantage over government hospitals in fast tracking decisions, making them a focused target for many international IVD firms.

In China, there is a less existence of private medicine in any form. Once the government clarifies its position on regulation of private medicine then there will be a significant growth in the commercial lab business. The private sector of the Chinese diagnostic market which includes hematology is completely unoccupied and it provides a great market opportunity for IVD companies.

IVD Technical Competence is high in Emerging (China, India, and Brazil) Countries

In India and China the local facilities and development assets, particularly in private healthcare, are increasing rapidly. In India the private laboratory chains are thriving in metropolitan cities. SRL Ranbaxy has significant processing labs in Mumbai, Delhi, and the other major cities of India and collects samples from 350 towns countrywide. Dr. Lal Path Labs has 27 labs and collects diagnostic samples from 250 towns across the country. Although foreign companies have


not entered the private lab market in a significant way there, Quest Diagnostics recently opened a large facility in New Delhi, India.

Along with that there is plenty of technical competence in all three countries, due to which these markets are not suitable for me-too products. Innovative products and competitive pricing would play a crucial role for any foreign players looking to enter into this market. The type of diagnostic instruments required by these countries during the next five to seven years will not be the same as those required by the developed markets. So the companies venturing into these markets should consider these points and design suitable diagnostic systems for these countries.

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Beckman Coulter, Sysmex and Roche were the Leading Players in the Global Hematology Market in 2009

In 2009, Beckman Coulter was the leading player in the global hematology


market with a share of 15%. Sysmex Corporation and Roche also have a significant presence in the global hematology market with a market share of 13% and 12%, respectively.

Beckman Coulter holds the competitive advantage in the hematology market due to its advanced technology, high automation and strong brand recognition. The Beckman product portfolio in the hematology market includes the LH 1500 Series hematology automation solutions, UniCel DxH cellular analysis system, Coulter Ac.T family of hematology analyzers and Coulter LH series automated hematology analyzers. Furthermore, the UniCel DxH slidemaker and stainer is waiting for marketing approval in Europe and Canada. It is designed to facilitate automation of slide making and staining in hematology laboratories. UniCel DxH product is expected to receive approval by the end of 2011 in Canada and Europe. It is expected that the marketing approval in these regions will further increase the overall market share of Beckman Coulter in the global hematology market.

Sysmex and Roche also have a strong presence in the market due to their advanced product portfolio of hematology diagnostics. Sysmex offer XS, XT and XT series of automated hematology analyzers and point of care testing instruments. Roche offers Accu-Chek, CoaguChek, Cobas, Confirm and the


LightCycler series of coagulation analyzers and hematology automation systems.

Currently, the hematology market is congregated by a significant number of small players. However, it is expected that the reforms implemented by the developed and emerging economies will bring a change on a global basis, thereby further opening the market to new entrants. As there are few barriers to the entry of new players into the market, it could see heightened competitive intensity due to multiple product launches.

GlobalData’s new report, “Hematology Reagents and Analyzers - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global hematology market. The report provides market landscape, competitive landscape and market trends information on the hematology market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.

This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.


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