The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global clinical chemistry analyzers market size is projected to reach USD 15.2 billion by 2026 from USD 12.3 billion in 2021, at a CAGR of 4.3% during the forecast period. Market growth is driven by factors such as the rising geriatric population and the increasing prevalence of chronic & lifestyle diseases, growing adoption of Point-of-Care testing devices and rising demand for laboratory automation. On the other hand, high capital investment, shortage of clinical laboratory technicians, and the availability of refurbished products is expected to limit market growth to a certain extent in the coming years.
“The reagents accounted for the highest growth rate in the clinical chemistry analyzers market, by product, during the forecast period”
The clinical chemistry analyzers market is segmented into analyzers, reagents and other products. The reagents segment accounted for the highest growth rate in the clinical chemistry analyzers market in 2020. The requirement reagents in large numbers compared to analyzers is the main factor contributing to this segment’s high growth rate. This segment’s market growth can also be attributed to repeat purchases of reagents compared to analyzers.
“Lipid profile tests segment accounted for the highest CAGR”
Based on the test type, the clinical chemistry analyzers market is segmented basic metabolic panels, electrolyte panels, liver panels, lipid profiles, renal profiles, thyroid function panels, and specialty chemical tests. In 2020, the lipid profile tests segment accounted for the highest growth rate. Rapid growth in obesity rates and the increasing incidence of obesity-related diseases are the major factors driving this segment’s growth.
“Hospitals and clinics segment accounted for the highest CAGR”
Based on end-users, the clinical chemistry analyzers market is segmented into hospitals and clinics, diagnostic laboratories, research laboratories & institutes, and other end users. In 2020, the hospitals and clinics segment accounted for the highest growth rate. This can be attributed to increasing number of hospitals worldwide owing to the increasing incidences of diseases & disorders, increasing adoption of analyzers and rising technological advancements.
“Asia Pacific: The fastest-growing region clinical chemistry analyzers market”
The global clinical chemistry analyzers market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. Growth in this region is expected to be centered on China and Japan. Factors such as the rising geriatric population, high burden of chronic diseases, growing per capita income, increasing investments in the healthcare industry by key market players, rising demand for cutting-edge technologies, expansion of private-sector hospitals to rural areas in various APAC countries, an increasing number of hospitals and clinicsare driving the growth of the clinical chemistry analyzers market in this region.
The primary interviews conducted for this report can be categorized as follows:
- By Company Type: Tier 1 - 20%, Tier 2 - 45%, and Tier 3 - 35%
- By Designation: C-level - 30%, D-level - 20%, and Others - 50%
- By Region: North America - 36%, Europe - 25%, Asia Pacific - 27%, Latin America – 9% , and the Middle East & Africa – 3%
This report provides a detailed picture of the global clinical chemistry analyzers market. It aims at estimating the size and future growth potential of the market across different segments, such as product, test type, end user, and region. The report also includes an in-depth competitive analysis of the key market players, along with their company profiles, recent developments, and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall clinical chemistry analyzers market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market’s pulse and provide them with information on the key market drivers, restraints, trends, and opportunities.