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Growth in demand for anemia screening, demand from blood banks for disease screening, competitive prices, along with growing need for disease diagnosis and greater awareness about related disorders will drive the market at a high CAGR during the forecast period.
Market Size- USD 691.35 million in 2018, Market Growth- CAGR of 11.7%, Market trends- Rise in anemia and cases of diabetes, coupled with increasing disease awareness from the Asia Pacific region is boosting the global Point of Care Hemoglobin Analyzers market, North America expected to register the highest market share during the forecast period
According to the current analysis of Reports and Data, the Point of Care (POC) Hemoglobin Analyzer market was valued at USD 691.35 million in 2018 and is expected to reach USD 1,674.16 million by year 2026, at a CAGR of 11.7%. Increasing incidences of anemia and other related illnesses across the world, increasing demand for blood glucose level meters, and increased awareness about Point of Care Hemoglobin Analyzers is bolstering industry growth.
Anemia is widely prevalent in the developing world and is a public health challenge in many countries. Hemoglobin (Hb) assessment is a reliable indicator for anemia screening. However, there are multiple techniques with different applications available for Point of Care Hemoglobin Analyzer and through normal techniques. Direct cyanmethemoglobin method has been the most popular method for hemoglobin estimation but other methods like hemoglobin color scale, Sahli technique, Lovibond-Drabkin technique, Tallqvist technique, copper-sulfate method, HemoCue and automated haematology analyzers are also available. Each method has a different working principle and its own advantages and disadvantages. It has been observed that Non-invasive methods of estimation like HemoCue is apt for initial screening of anemia because it is reliable, portable, does not require power supply and easy to use in poor resource settings without requiring extensive training of health workers. Hemoglobin color scale developed by HCS is another potential method that can be used in field situations. New novel product developments like these tailored for the developing world are expected to drive industry growth.
North America and Europe are expected to occupy significant market share during the forecast period Point of Care Hemoglobin Analyzer industry. These regions have well developed economies and significant investments in R&D is made by each country. Hospitals and clinics are well-equipped and Point of Care Hemoglobin Analyzer device usage is very common. Point of Care Hemoglobin Analyzer market growth will also be propelled by the Asia-Pacific region and parts of Africa. In these regions, incidences of anemia are very high and regular blood testing is required to monitor the prognosis of the disease. Point of Care Hemoglobin Analyzer devices like the DiaSpect Tm, manufactured by EKF Diagnostics are popular in these parts as the machine is portable, low-cost and provides a reliable measure of blood Hb levels. More R&D is however required to make similar Point of Care Hemoglobin Analyzer products available in these regions at a lower cost.
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Further key findings from the report suggest-
Key companies operating in the market include:
HemoCue Diagnostics (A Danaher Company), EKF Diagnostics, Abbott Laboratories, Infopia Co Ltd, Empatica Inc., Roche Holding AG, Ceragem Medisys, Convergent Technologies, Trinity Biotech plc, and I-Sens Inc., amongst others
The report covers an extensive analysis of the key market players in the market along with their business overview, expansion plans, and strategies. The report also focuses on recent strategic alliances in the market including mergers and acquisitions, joint ventures, partnerships, agreements, corporate and government deals, product launches, and brand promotions, among others.
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The report aims to provide a better understanding of the market dynamics and the workings of the industry on a global level. To gain a deeper understanding of the industry, the global Point of Care Hemoglobin Analyzer market is further segmented on the basis of key geographical regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa. The report also offers a country-wise analysis to provide crucial insights into market size, market growth, market revenue growth, and economic growth in each region.
On basis of product types and application offered by the Point of Care Hemoglobin Analyzer industry, the market is segmented into:
Method (Revenue, USD Million; 2016–2026)
Application (Revenue, USD Million; 2016–2026)
End Use (Revenue, USD Million; 2016–2026)
The regional analysis covers:
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Benefits of Point of Care Hemoglobin Analyzer Market Report:
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