The global hematology products market is projected to reach USD 4.98 billion by 2023 from USD 3.31 billion in 2018, at a CAGR of 8.5%. The factors driving the growth of this market include the growth in blood donation and the increasing incidence of blood disorders, and integration of flow cytometry techniques with hematology analyzers.
Analysis of the market developments between 2015 and 2018 revealed that several growth strategies such as product launches, product approvals, acquisitions, collaborations, partnerships, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the hematology analyzers and reagents market. Product approvals and launches were the most widely adopted growth strategies by players in the past three years to garner a larger share of the market and remain competitive.
Sysmex (Japan) held the leading position in the global hematology analyzers and reagents market. The company is an integrated supplier of instruments and reagents in the field of diagnostics. It focuses on expansions, agreements, and new product launches to ensure its growth in the hematology analyzers and reagents market. In line with this, over the last three years, the company launched XN-9100, XN-3100, XN-1500, XN-L, and SP-50 (an automated hematology slide preparation unit). By adopting inorganic and organic growth strategies, the company has improved its sales and support networks in emerging markets, which has helped it maintain its leading position in the hematology analyzers and reagents market. Thus, the company’s efforts to develop technologically advanced hematology products are fueling the growth of its hematology business operations.
Danaher (US) held the second position in the global hematology analyzers and reagents market. To maintain its market position and ensure future growth, the company adopted organic and inorganic growth strategies. In line with this, Danaher acquired Beckman Coulter which helped it to expand its hematology analyzers business. Furthermore, Danaher focuses on its R&D to provide its customers with innovative products and maintain its competitive position in the market. In 2017, the company’s diagnostic segment invested USD 471.2 million in R&D activities and USD 367.8 million in 2016. The company’s efforts to strengthen its product portfolio, expand its geographic reach, and increase brand visibility are expected to drive its growth in the hematology analyzers and reagents market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownload.asp?id=153222146