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Hemoglobin Testing Devices Market 2020 By Regional Trend & Growth Forecast To 2025

Author : Ronak Bora | Published Date : 2020-09-09 

Hemoglobin Testing Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Growing prevalence of anemia is estimated to drive the demand for hemoglobin testing kits over the forthcoming years. Anemia is regarded as a major public health issue that is impacting people across both developed as well as developing nations. According to reports, nearly 1.6 billion people suffer from anemia globally.  As a result, several federal bodies have started to implement state-wide initiatives to spread awareness about anemia. Such initiatives would boost the need for blood testing, hugely benefitting hemoglobin testing device market size. Increasing technological innovations have also given rise to advanced testing kits that are able to offer precise results within a short span of time. Considering these aspects, GMI, forecasts that the hemoglobin testing devices market might surpass USD 5.3 billion by the year 2025.    

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Laboratory analyzers are anticipated to witness a growth of 4.7% over the forecast time period. These type of analyzers for hemoglobin testing are generally used in research institutes as well as in some hospitals for the purpose of glucose and anemia testing.

Additionally, the rapidly rising research and development activities to improve the treatment solutions for anemia as well as other blood disorders is one of the key factors driving laboratory analyzers market growth.

The spectrophotometry segment accounted for over $1.9 billion in 2018 and will witness noteworthy growth through the analysis timeframe. Spectrophotometry is a recent technique that is implemented in the hemoglobin analyzers which evaluate the results based upon the capacity of the compound to absorb light over a specific scope of wavelength.

According to the ICSH (International Committee for Standardization in Hematology), this technique has been regarded as the most apt way of diagnosing disorders related to blood. Consequently, the abovementioned factors are expected to substantially drive the business share.

The clinics end-use segment had a revenue share of about 22.7% in 2018 and will be registering momentous growth over the projected time period. Rapidly expanding establishment of clinics in developed and developing economies will augment segmental growth.

Furthermore, increasing inclination of the general population towards diagnostic clinics, due to the fact that they are equipped with ultra-modern facilities, would be further boost the business outlook in coming time. 

Hemoglobin testing devices market in UK is expected to witness a promising growth of over 7.5% over the projected time period. This considerable rate of growth is ascribed to the rising prevalence of blood related disorders in the country. Additionally, the growing adoption these hemoglobin testing devices will also increase the regional growth.

Furthermore, expanding research & development activities linked to hemoglobin testing solutions will be further driving product demand through the forecast timeframe. Increasing government initiatives to boost awareness about several hemoglobin tests among the general population is also another key factor that is likely to drive industry growth.

It is well noted that Hemoglobin measurement or testing of hemoglobin is one of the commonly ordered tests so as to detect anemia in both outpatient settings and acute care. One such device is Pronto® DCI-mini™ which is designed for use in children and infants who weight between 3 to 30 kg. Another such device is HemoCue® Hb 201+ which is a photometric device utilizing specifically designed microcuvettes comprising of three different dried reagents to estimate the overall blood Hb concentration. These devices provide accurate results for testing of hemoglobin.

Such ongoing innovations in testing device and technology designs, coupled with the aforementioned growth-centric determinants, are likely to create a favorable growth ground for the global hemoglobin testing devices market in the coming timeframe. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/hemoglobin-testing-devices-market

Partial Chapter of the Table of Content 

Chapter 3. Hemoglobin Testing Devices Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2014 – 2025 (USD Million)

3.3. Industry impact forces

3.3.1. Growth drivers

3.3.1.1. Rising prevalence of anemia across the globe

3.3.1.2. Growing demand for point-of-care hemoglobin testing

3.3.1.3. Increasing technological advancements to provide non-invasive testing methods

3.3.2. Industry pitfalls & challenges

3.3.2.1. Product recalls due to inaccuracy in test results

3.3.2.2. High cost of laboratory analyzers

3.4. Growth potential analysis

3.4.1. By product

3.4.2. By technology

3.4.3. By end-use

3.5. Competitive landscape, 2018

3.5.1. Strategy dashboard

3.6. Product portfolio analysis

3.7. PESTEL analysis

Chapter 4. Hemoglobin Testing Devices Market, By Product

4.1. Key segment trends

4.2. Equipment

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2. Point of care

4.2.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.2. Portable

4.2.2.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.3. Handheld

4.2.2.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.4. Benchtop

4.2.2.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.3. Laboratory analyzers

4.2.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Consumables

4.3.1. Market size, by region, 2014 – 2025 (USD Million)

Chapter 5. Hemoglobin Testing Devices Market, By Technology

5.1. Key segment trends

5.2. Chromatography

5.2.1. Market size, by region, 2014 – 2025 (USD Million)

5.3. Immunoassay

5.3.1. Market size, by region, 2014 – 2025 (USD Million)

5.4. Spectrophotometry

5.4.1. Market size, by region, 2014 – 2025 (USD Million)

5.5. Others

5.5.1. Market size, by region, 2014 – 2025 (USD Million)

 

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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