The growing geriatric population and an increase in diseases related to blood among the geriatric population is one of the major factors driving the growth of the Hematocrit Test Devices market globally. Furthermore, growing incidence of anemia, other chronic disease induced anemia, technological advancements supported by the government funding and initiatives are also likely to boost the market growth.
However, lack of skilled professionals, lack of awareness about the importance of hematocrit test, a stringent regulatory scenario for product approvals may impede the growth of the hematocrit test devices market.
Key Market Trends
Polycythemia vera (PV) Dominates the Hematocrit Test Devices Market
Polycythemia vera (PV) is one the related group of blood cancers called “myeloproliferative neoplasms” in which cells in the bone marrow that produces the blood cells do not develop and function normally. Although it is not curable, PV can usually be managed effectively for very long periods, even decades. But it may shorten life expectancy in some patients.
According to the National Organization for Rare Disorders, the prevalence of PV is approximately 22 cases per 100,000 people. A diagnosis of PV is considered if the patient’s red cell count is elevated. Three measures of the concentration of red cells in the blood can be used to diagnose PV: the hematocrit, the hemoglobin concentration, and the red cell count. Generally, the hematocrit concentration is used to diagnose PV and measure the patient’s response to therapy.
Due to the effectiveness of Hematocrit tests in the diagnosis of PV, the segment is believed to grow in the future. In addition, the increase in the prevalence of anemia is augmenting the growth of the market studied.
North America is Expected to Dominates the Hematocrit Test Devices Market
North America holds the major share in the global hematocrit test devices market owing to the high adoption of hematocrit test with other diagnostic tests and high prevalence of chronic diseases.
Moreover, the increase in the number of major players engaged in the manufacture of diagnostic equipment and high government expenditure in research and development are also driving the market growth. For instance, In December 2018, Sysmex Corporation launched CN-6000 and CN-3000, a next-generation automated blood analyzer and in November 2017, Sysmex Corporation received CLIA-waiver certification from the U.S. approval authorities for their automatic hematology analyzing product XW-100, resulting in its expansion in the U.S market.
Currently, many private pharmaceuticals and biotechnology companies drive, direct and coordinate the development and introduction of novel products into the market which is easily affordable and accessible. Some of the key innovations in the market are: In May 2018, Nova Biomedical launched its CE mark obtained StatStrip Hemoglobin and Hematocrit Meter System and F. Homann-La Roche Ltd., launched Cobas m 511, an integrated hematology analyzer in In January 2017.
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence Rates of Anemic Conditions
4.2.2 Growing Geriatric Population With Blood Disorders
4.3 Market Restraints
4.3.1 Stringent Regulatory Approvals
4.3.2 Lack of Awareness About Hematocrit Test
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Hematocrit Test Meter
5.1.2 Hematocrit Test Analyzer
5.1.3 Reagents and Consumables
5.2.2 Polycythemia Vera
5.2.3 Congenital Heart Diseases
5.3 End User
5.3.2 Diagnostic Centers
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.4.5 South America
126.96.36.199 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Boule Diagnostics AB
6.1.3 Danaher Corporation
6.1.4 EKF Diagnostics
6.1.5 F. Hoffmann-La Roche Ltd.
6.1.6 HORIBA, Ltd.
6.1.7 Nova Biomedical
6.1.8 Sysmex Corporation
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.