Clinical Chemistry Analyzers Market: Introduction
Transparency Market Research has published a new report titled ‘Global Clinical Chemistry Analyzers Market’. According to the report, the global clinical chemistry analyzers market was valued at approximately US$ ~11.3 Bn in 2018. The global clinical chemistry analyzers market is expected to expand at a CAGR of ~4% during the forecast period from 2019 to 2027.
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Clinical chemistry analyzers are devices that carry out assays on clinical samples, such as plasma, blood, serum, urine, and cerebrospinal fluid to determine the presence of analytes relating to drugs and diseases. Clinical chemistry analyzers are used in a range of settings, including research laboratories, small clinics, and high-throughput hospital labs.
Most of the clinical chemistry analyzers being launched in the market are highly automated in order to generate maximized throughput, improve user safety from biohazards, and diminish the risk of cross-contamination. Once the tests are programmed by the user, samples are introduced into machines and tests are carried out. Rise in demand for medical devices in diagnosing various conditions (such as cardiac or neurological) results in increased preference for clinical chemistry analyzers, especially in hospitals and other healthcare centers and thus, these factors are driving the clinical chemistry analyzers market. Moreover, increased automation in clinical chemistry analyzers has propelled the global clinical chemistry analyzers market, owing to faster results and multiple tests at the same time.
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In terms of product, the panels & reagents segment held a major share of the global clinical chemistry analyzers market in 2018. This segment is likely to maintain its dominance during the forecast period. The panels and reagents segment is anticipated to grow at a rapid pace during the forecast period, due to increase in prevalence of lifestyle diseases. Moreover, rise in awareness about preventive healthcare augments the number of tests performed across the globe. The analyzers segment held a significant share of the clinical chemistry analyzers market and it is likely to expand at a moderate CAGR between 2019 and 2027. The expansion of this segment can be attributed to technological advancements in clinical chemistry analyzers and high unmet need in diagnostics.
Based on end user, the hospitals segment accounted for a significant share of the global clinical chemistry analyzers market. This segment is projected to grow at a moderate CAGR during the forecast period. The growth of this segment can be attributed to increase in healthcare expenditure and rise in the number of hospitals in emerging economies, such as India and China. The diagnostic centers segment held a significant share of the global clinical chemistry analyzers market and is anticipated to grow at a moderate CAGR during the forecast period. Rise in patient preference for these outpatient settings due to quick access to test results and high efficiency of clinical workflow are expected to boost the segment growth.