Market Overview
The global hematology market size was valued US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of YY % during the forecast period (2022-2029).
Hematology is a branch of medicine that deals with diagnosing, treating, and preventing blood, blood-forming organs, and blood diseases such as blood cancer, anemia, hemophilia, and blood clots. Hematological tests constitute in vitro diagnostic techniques such as hemostasis, molecular diagnostics, histology, blood analysis, and flow cytometry and help to identify various blood-related diseases at lower costs. Hematology includes the problems with the red blood cells, white blood cells, platelets, and organs fed by blood cells, including the lymph nodes, spleen, thymus, and lymphoid tissue. The specialists use the hematology instruments for testing and determining plasma drug levels for both therapeutic and illicit drugs.

Market Dynamics
The major drivers fueling the growth of the market are a rise in the prevalence of blood disorders, technological advancements such as the introduction of new technically advanced fully automated hematology analyzers, and rising R&D expenditure.
Technological advancements in hematological analyzers are expected to drive market growth.
Anemia and iron deficiency remain the most common nutritional problems in the world, impacting billions of people in industrialized and developing countries. Anemia is often diagnosed using various markers, including red blood cell (RBC) count, hematocrit, and total hemoglobin. Erythrocyte characteristics such as mean corpuscular volume (MCV), mean corpuscular hemoglobin (MCH), and so on are also measured using current hematology analyzers. However, most commercially available analyzers have several drawbacks as they are expensive instruments that require significant bench space and are heavy enough to limit their use to a specific lab and result in a delay in results, making them less practical as a point-of-care instrument that can be used for rapid clinical evaluation. As a result, there is a need for a portable and affordable hematological analyzer that can be used on the spot. A technique known as cell tracking velocimetry (CTV) is to quantify many hematological parameters from fresh human blood taken from healthy donors and sickle cell disease patients.
Moreover, based on the paramagnetic behavior of RBCs containing deoxyhemoglobin or methemoglobin while suspended in the water after applying a magnetic field, this system employs a combination of magnets and microfluidics to follow the movement of thousands of red cells in a short amount of time. This enables the measurement of not just traditional RBC indices but also unique metrics that are only available for analyzers that examine erythrocytes on a cell-by-cell basis. Additionally, the use of CTV as a hematology analyzer can measure MCV, MCH, mean corpuscular hemoglobin concentration (MCHC), red cell distribution width (RDW), the percentage of hypochromic cells (which is an indicator of insufficient marrow iron supply that reflects recent iron reduction), and the correlation coefficients between these metrics. Therefore, CTV is a promising technology for blood testing at the point of care or in low-resource areas. Thus, from the above statements, the market is expected to drive in the forecast period.
Restraint:
Product recalls slow technology adoption and regulatory and reimbursement concerns are going to restrain the market in the forecast period.
Industry Analysis
The hematology market provides in-depth analysis of the market based on various industry factors such as porter five forces, supply chain, pricing analysis, regulatory approvals etc.

COVID-19 Impact Analysis
The COVID-19 pandemic has moderately impacted the market. Globally, there is a greater emphasis on hematological criteria for measuring COVID-19. Many hospitals have tested and monitored COVID-19 patients using tools such as hematological analyzers. A clinical hematology laboratory is crucial in giving various valuable prognostic markers such as lymphopenia, neutrophilia, leukocytosis, and thrombocytopenia, all of which are typical findings in SARS-CoV-2 virus patients. Furthermore, patients with COVID-19 and sickle cell disease (SCD) were at a higher risk of hospitalization, pneumonia, and discomfort. Because persons with SCD were more likely to get additional infections, it was critical to monitor their health, which had a significant impact on the market. As a result of the increased importance of hematological testing in COVID-19 infected patients, the demand for hematology products and reagents is expected to rise. The pandemic, on the other hand, is disrupting the supply chain. Thus, the COVID-19 pandemic has had an impact on the market. However, the situation is expected to improve steadily over the forecast period.

Segment Analysis
Hematology Analyzers segment is expected to hold the largest market share in hematology market.
The hematology analyzers segment accounted for the largest market share in 2021. The segment is beneficial because these instruments are used to execute tests on blood samples. They are used to perform tests such as a complete blood count, which includes a count of red blood cells, white blood cells, platelets, and hemoglobin, and characterize blood cells to diagnose a disease condition. Moreover, product launches and technological advancements in the analyzers are the other factors to boost the market in the forecast period. For instance, HORIBA Medical introduced new products in its Yumizen H500 & H550 hematology product family in July 2022, including compact benchtop hematology analyzers with improved performance, additional capabilities, and expanded benefits. These products are intended to provide a brief and complete hematological report with a throughput of 60 tests/hour, 40 tubes autonomy with continuous loading, an urgent manual mode, and the ability to run samples via multi-analysis modes and sampling. Therefore, it has increased the demand for hematology analyzers.

Geographical Analysis
North America region holds the largest market share in the global hematology market
In 2021, North American Hematology accounted for the highest revenue share in the global market. The increasing prevalence of blood cancers, technological advancements in the analyzers, well-established infrastructure, product launches and collaborations by the key market players and FDA approvals in the region are the factors to drive the market growth in the forecast period. For instance, according to the Leukemia & Lymphoma Society, in 2021, an estimated 186,400 persons in the United States will be diagnosed with leukemia, lymphoma, or myeloma. Moreover, new cases of leukemia, lymphoma and myeloma are expected to account for 9.8 percent of the estimated 1,898,160 new cancer cases diagnosed in the US in 2021. Therefore, it has increased the demand for hematology analyzers. Moreover, On April 20, 2022, Sysmex America, Inc. received the United States Food and Drug Administration’s 510(k) approval for Sysmex XN-10 Automated Hematology Analyzer. Thus, the North American region accounted for the largest market share in the forecast period.

Competitive Landscape
Major key players in the hematology market are Abbott Laboratories, Sysmex Corporation, Danaher Corporation, Siemens Healthcare, Sigma Aldrich Corporation, Drucker Diagnostics, Bio-Rad Laboratories, Roche Diagnostics, Mindray Medical International Ltd, Horiba Ltd.
Abbott Laboratories:

Overview:
Abbott Laboratories is an American multinational medical device and healthcare company that explores, develops, manufactures, and sells a broad and diversified line of healthcare products. It split off its research-based pharmaceuticals business into AbbVie in 2013. It benefits through the following segments: Established Pharmaceutical Products, Nutritional Products, Diagnostic Products, Cardiovascular and Neuromodulation Products, and Others. Its well-known products across the medical devices, diagnostics, and nutrition divisions are Pedialyte, Similac, Ensure, Glucerna, ZonePerfect, FreeStyle Libre, i-STAT and MitraClip. One hundred nine thousand colleagues serve people in more than 160 countries.
Product Portfolio:
CELL-DYN Sapphire: CELL-DYN Sapphire’s trusted analysis helps focus on the most important part of work: supporting excellent patient care. Behind every sample is an anxious patient or family awaiting a decision. It helps achieve accurate first pass results because there is little room for error, whether the decision contributes to a diagnosis, change in therapy, or transfusion. By helping reduce sample reruns, reflex testing, turnaround time, and smear review rates, the CELL-DYN Sapphire maximizes productivity and lowers laboratory costs. With the ability to perform 105 CBCs per hour, the consumer can process a full range of normal to abnormal patient samples in the laboratory.
The global hematology market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.