Zion Market Research has published a new report titled “Hemoglobin Testing Devices Market by Operating Type (Argininosuccinic academia, Citrullinemia, Homocystinuria, Phenylketonuria and Maple syrup urine disease), Product (Arginine, Betaine, Carglumic acid, Folic Acid, Sapropterin dihydrochloride, Thiamine, Vitamin B6 and B12 and Vitamin D) and End user (Hospital pharmacies, Retail pharmacies and online stores): Global Industry Perspective, Comprehensive Analysis and Forecast, 2019 – 2025”.
According to the report, global demand for Hemoglobin Testing Devices Market was valued at approximately USD 3,565.44 Million in 2018, and is expected to generate revenue of around USD 5,095.63 Million by end of 2025, growing at a CAGR of around 5.32% between 2018 and 2025.
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Hemoglobin is a crucial marker of general health. Calculation is an important diagnostic tool for diseases like jaundice, anemia, etc. The hemoglobin testing devices is an instrument used to determine the blood hemoglobin content using spectrophotometric measuring techniques. The photometric methods used in the hemoglobin testing devices are currently, however, user-friendly and lessen pain to blood donors and minimize the risk of infection. The point-of-care (POC) test acquired steady growth in very short time in hematology. Rapid technological advancements and international take-up resulted in the rise and expansion of several hemoglobin testing tools. Compared to the conventional method, nowadays testing devices for hemoglobin are now non-invasive and reliable, which can produce results within 30 sec. There are many newly launched hemoglobin testing devices that also work comfortable on the very least blood and pocket sample.
It is anticipated that increasing the prevalence of blood disorders and the advent of new and sophisticated technologies would fuel the growth in demand for hemoglobin testing instruments. Due to the ability to generate reliable and accurate results, the demand for hemoglobin testing devices is expected to increase over the forecast period, which helps physicians provide proper treatment for the disease. Additionally, there will be increased awareness of the blood testing program and the blood donation camps expected to drive market growth of hemoglobin testing devices in the coming days. Regional government initiatives to control anemia in emerging countries like India, Vietnam, and Venezuela could drive the hemoglobin testing devices market’s future growth.
The market for Hemoglobin Testing Devices is segmented based on operating type, product, end user and region. Based on Operating Type, the market is segmented into automatic and semi-automatic. Automatic hemoglobin testing devices, due to rapid results and accuracy in hemoglobin measurement, expected to gain a good market share compared to the semi-automatic. Based on the Product segment, the market is bifurcated into Bench-top, Handheld and Others. The handheld device, due to the user-friendly nature of the system and cost-effectiveness, is expected to show more market share for the hemoglobin test systems market compared to the bench top system.
Based on the End user segment, the market is divided into Hospitals, Diagnostic laboratories, Home care and others. Hospitals may share the promising growth over the forecast period, as the number of people visiting the hospital for the diagnosis of different types of disease, as referred by the doctors, mostly prefer to the hemoglobin count before treatment begins. Diagnostic laboratories that show the second dominant market for hemoglobin testing devices since diagnostic laboratories expected to improve the demand for hemoglobin test systems in the coming years due to the introduction of new diagnostic technologies and notable development in the market for hemoglobin test systems.
Regional segmentation includes the current and forecast demand for Asia Pacific, North America, Latin America, Europe, and Middle East & Africa with its further bifurcation into major countries. North America is the most lucrative market for hemoglobin testing devices, owing to the high number of blood bank faculties and diagnostic centers with sufficient setup. Because of people’s growing awareness of blood-related issues and increasing demand for novel diagnostic tools in hospitals and diagnostic laboratories, Europe’s market is expected to show increased market demand for hemoglobin testing devices. Asia-Pacific is the fastest-growing area on the market for hemoglobin testing devices due to a ringing investment by local medical device companies in research and development in counties like India, China and Japan. Because of lack of awareness and inadequacy of severe blood problems among the population, Latin America and the Middle East Africa region are the least lucrative market for hemoglobin testing devices.
Some of the players included in Hemoglobin Testing Devices market are Abbott Laboratories, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., HemoCue India, Mindray Medical International Limited, Nihon Kohden Corporation, Roche Diagnostics, Siemens Healthineers, and Sysmex Corporation amongst others.
The report segments global Hemoglobin Testing Devices market as follows:
Global Hemoglobin Testing Devices Market: Operating Type Segment Analysis
Global Hemoglobin Testing Devices Market: Product Segment Analysis
Global Hemoglobin Testing Devices Market: End user Segment Analysis
Global Hemoglobin Testing Devices Market: Regional Segment Analysis
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