The global hematology analyzers and reagents market is expected to reach US$ 13,007.87 million by 2027 from US$ 7,252.54 million in 2019. The market is estimated to grow at a CAGR of 7.6% from 2020 to 2027.

Increasing incidence of hematologic diseases and technological advancements in hematology analyzers are anticipated to drive the growth of the global hematology analyzers and reagents market during the forecast period. However, steep prices of high-tier systems are hindering the market growth.
Hematology analyzers and reagents are healthcare products and consumables intended to identify and count the individual blood cells in a high-speed manner and highly effective. These instruments have substituted the conventional methods of measuring blood cells individually under a microscope, which were previously carried out by the lab technicians. These devices provide more precise and useful blood cell results and other related information from the blood sample.
The impact of blood diseases is not necessarily limited to any one part of human body. A few of the common blood diseases include anemia; hemophilia; von Willebrand disease (VWD); and blood cancers such as myeloma, leukemia, and lymphoma. Several blood diseases are hereditary, and the rising prevalence of these diseases boosts demands for blood transfusion as well as blood cell counting for monitoring normalcy, which is further escalating the demand for hematology analyzers and reagents.

Anemia is a common blood disorder, and according to the National Heart, Lung, and Blood Institute, it affects more than 3 million Americans every year. Moreover, according to the World Health Organization (WHO), the disorder affected ~1.62 billion people worldwide in 2018. Anemia is also prevalent in Indian population and affects the quality of life of a remarkable number of people. According to the National Family Health Survey (NFHS) conducted in India in 2018, anemia affected ~58.6% of children and 50.4% of pregnant women in the country in 2016. Further, according to the Centers of Disease Control and Prevention (CDC), hemophilia A affects ~1 in 5,000 male births in the US on an average each year. A CDC survey for 2017 reported that VWD, one of the most common bleeding disorders, affects up to 1% of the general population. During 2012–2016, more than 14,600 men, women, and children were seen at hemophilia treatment centers for treatment of VWD. The increasing incidence of blood-related diseases is augmenting the growth of the hematology analyzers and reagents market.

Product and Service Insights
Based on product and service, the global hematology analyzers and reagents market is segmented into hematology products and services, hemostasis products and services, and immunohematology products and services. In 2019, the hematology products and services segment held the largest share in the market. The same segment is also expected to dominate the market by 2027 as it has diverse testing volumes that helps deliver accurate results. Moreover, these instruments are generally used in medical laboratories to detect protein or enzymes, and count blood cells in order to help in the diagnosis of illness and genetic defects.

Application Insights
Based on application, the global hematology analyzers and reagents market is segmented into anemia, blood cancer, hemorrhagic conditions, infection related conditions, and immune system related conditions, and other applications. The anemia segment held the largest market share in 2019, and it is also expected to dominate the market by 2027 as it is a medical condition in which the patient lacks enough healthy red blood cells to carry adequate oxygen to the tissues of the body.

End User Insights
In terms of end user, the global hematology analyzers and reagents market is segmented into hospital laboratories, commercial service providers, government reference laboratories, and academic and research institutes. In 2019, the hospital laboratories segment held the largest market share. Also, the same segment is expected to dominate the market during the forecast period as the blood collection and analysis devices are being frequently used in hospitals and pathology laboratories. Moreover, devices such as tubes, needles, holders, blood analyzers, and other consumables are utilized in the hospital during conduction of complete blood check-ups. In the laboratories, the collected/sampled blood is used for the clinical tests.

Major primary and secondary sources referred to while preparing the report on the global hematology analyzers and reagents market are National Science Foundation (NSF), World Federation of Hemophilia, American Cancer Society, Canadian Cancer Society, World Health Organization, German Organ Transplantation Foundation, Global Cancer Observatory, Spanish National Transplant Organisation (ONT), European Centre for Disease Prevention and Control, Hong Kong Blood cancer Foundation, National Heart, Lung, and Blood Institute, National Family Health Survey (NFHS), Centers of Disease Control and Prevention (CDC), Hemophilia Federation India (HFI).