The global Clinical Chemistry Analyzers market size is expected to be worth around US$ 26.0 billion by 2030, according to a new report by Vision Research Reports.
The global Clinical Chemistry Analyzers market size was valued at US$ 19.9 billion in 2020 and is anticipated to grow at a CAGR of 15.5 % during forecast period 2021 to 2030.
Growth Factors
The growing prevalence of chronic diseases is anticipated to be responsible for the high urgency to adopt clinical chemistry analyzers, which thereby widens the scope for growth during the forecast period. In addition, growing base of geriatric and bariatric population, which is highly susceptible to chronic diseases, is presumed to impel the demand further. Consequently, the resultant high sample volume requiring high capability analyzing devices is driving the market growth.
Moreover, increasing awareness pertaining to benefits associated with these devices is also a high impact rendering driver for clinical chemistry analyzers market. Advent of advanced chemistry analyzers has resulted in improved point-of-care testing capabilities, and thus created high potential growth opportunities for the market. In addition, technological advancements in preanalytical, analytical, and post analytical stages due to analyzing devices & reagents improved their diagnostic capabilities and overall efficiency, which is predicted to propel the growth further. These advancements include advent of microchips, sensors, chemometrics, and robotics. Furthermore, consistent efforts by public as well private healthcare organizations to increase the reliability of data have rapidly engendered the integration of automated chemistry analyzers and immunoassay systems, thereby resulting in overall reduction of workload in laboratories, thus propelling the demand.
Report Highlights
Reagents accounted for the largest share in the product segment in 2020. The substantial share is predicted to be a consequence of a wide array of reagents present in the market, catering to different requirements of clinicians. These reagents predominantly include enzymes, substrates, specific proteins, electrolytes, lipids, and others, which are imperative to obtain accurate results in analytical procedures.
In addition, reagents are believed to be highly cost efficient, possess optimum sensitivity, linearity, and precision, which thereby, ensures minimized performance variation. The aforementioned benefits are predicted to be highly responsible for encouraging clinicians to use reagents for accurate diagnosis.
Basic MetabolicPanel (BMP) held a dominant share of the test segment in 2020, as a consequence of growing prevalence of lifestyle-induced diseases, such as obesity and other metabolic abnormalities. Rising importance of and awareness regarding point-of-care testing is also one of the key contributing factors toward the segment share. BMP comprises a set of tests that provide clinical information pertaining to problems caused by a chemical imbalance in the body to the medical examiners.
The associated benefits with this test have resulted in the high acceptance of the same, thereby widening the segment share over the years. Moreover, BMP is increasingly being used and accepted in a wide array of applications, such as in newborn screening, which facilitates early detection of congenital genetic as well as metabolic disorders. According to a research paper published in NCBI, it possesses the ability to detect 30 inherited metabolic disorders in a single dried filter paper blood spot.
Hospitals dominated the end-use segment in 2020, owing to the high patient volume, frequent readmissions, and large sample volumes. Moreover, supportive infrastructure facilitates successful diagnostic procedures, thus, resulting in a higher share of hospitals. The increasing number of government initiatives aimed at promoting efficient diagnostic facilities to generate quick results and improve overall efficiency also serves as key contributing factors to the substantial share of the segment.
In addition, in the current scenario, hospitals are increasingly inclined toward acquiring fully automated systems with built-in quality-assurance capabilities, possessing the ability to process a large number of samples. These factors are estimated to exert positive influence on segment growth.
North America held the substantial share of the clinical chemistry analyzers market. The supportive government initiatives and high implementation of practice guidelines released by healthcare organizations present across this region are some of the key factors responsible for the high share registered by this region.
Due to increase in outsourcing of manufacture of these analyzers to Asia Pacific countries, such as India and China, this region is anticipated to grow at an exponential rate during the forecast period. Furthermore, high R&D investment by the global players and presence of unexplored opportunities in this region serve as high growth rendering drivers.
Key Players
F.Hoffmann La Roche; Thermo Fisher Scientific, Inc.; Johnson & Johnson; and Siemens AG.
Market Segmentation
Product Outlook
Analyzers
Small
Medium
Large
Very Large
Reagents
Calibrators
Controls
Standards
Others
Others
Test Outlook
Basic Metabolic Panel
Electrolyte Panel
Liver Panel
Lipid Profile
Renal Profile
Thyroid Function Panel
Specialty Chemical Tests
End-use Outlook
Hospitals
Academic Research Centers
Diagnostic Laboratories
Others
Regional Outlook
North America
The U.S
Canada
Europe
Germany
UK
Asia Pacific
Japan
China
India
Latin America
Brazil
Mexico
The Middle East and Africa
South Africa
The Clinical Chemistry Analyzers market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Clinical Chemistry Analyzers market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Clinical Chemistry Analyzers market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Clinical Chemistry Analyzers market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Clinical Chemistry Analyzers market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Clinical Chemistry Analyzers capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Clinical Chemistry Analyzers by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Clinical Chemistry Analyzers market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Clinical Chemistry Analyzers market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Clinical Chemistry Analyzers market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Clinical Chemistry Analyzers industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Clinical Chemistry Analyzers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Clinical Chemistry Analyzers market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Clinical Chemistry Analyzers market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Clinical Chemistry Analyzers market. These factors have benefited the growth of the global market for Clinical Chemistry Analyzers. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Clinical Chemistry Analyzers. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Clinical Chemistry Analyzers are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
Research Methodology:
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are:
To strategically profile the key players and comprehensively analyze their growth strategies.
Cross-segment Market Size and Analysis for
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Additional Countries (Apart From Mentioned Countries)
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