According to a new report published by Transparency Market Research (TMR) titled “Immunohematology Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”, the global immunohematology market was valued at US$ 1,462.1 Mn in 2016 and is projected to expand at a CAGR of 3.5% from 2017 to 2025 to reach value of US$ 1,991.8 Mn by 2025. This report offers a thorough understanding of the immunohematology market across the globe, its key trends, drivers, restraints, and opportunities.
Rising awareness among people in developed as well as developing countries is expected to drive the global immunohematology market in the near future. Increasing health care expenditure and rising worldwide concerns about medical safety are also driving the global immunohematology market. The Asia Pacific region has witnessed gradual adoption of new immunohematology technologies, increasing health care expenditure, and changing dynamics of the in vitro diagnostics industry in the region. The market in APAC is anticipated to expand at a CAGR of 4.4% from 2017 to 2025. The global immunohematology market has been witnessing a significant shift from manual systems toward automated systems. The rate of adoption of automated systems by laboratories is increasing. This has augmented the demand for automated analyzers. In addition, the increasing focus on efficiency and data precision promotes growth of the market. The adoption of automated systems has boosted the throughput and reduced the burden of routine tasks. A substantial number of clinical trial studies are in process to innovate new technologies and procedures for blood typing. Research and development programs for the advancement of new products in immunohematology are expected to provide significant opportunities to the immunohematology market in the next few years.
Request Sample of the Report:
Reagents Segment dominates the Market followed by Automated Analyzers Segment
The global immunohematology market has been segmented in terms of product, application, end-user, and geography. Based on product, the global immunohematology market has been segmented into analyzers and reagents. The analyzers segment has been sub-segmented into automatic and semi-automatic/non-automatic immunohematology analyzers. The reagents segment is expected to dominate the immunohematology market during the forecast period. This is attributable to the rising number of customized reagents used in blood typing and antibody screening processes. Moreover, increasing demand for blood and blood products significantly boosts the demand for reagents and assay kits. Growing trend of consolidation among diagnostic laboratories and rising demand for preventive care and diagnosis are leading to high-volume processing, which augments the demand for high-throughput automatic analyzer systems.
Asia Pacific to offer Lucrative Growth Opportunities to Immunohematology Market
Geographically, the global immunohematology market has been segmented into five regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to be the largest market for immunohematology during the forecast period. High adoption of advanced technologies and a wide base of diagnostic laboratories and blood banks are factors responsible for the major share held by North America in the global immunohematology market. The Asia Pacific region has witnessed gradual adoption of new immunohematology technologies, increasing health care expenditure, and changing dynamics of the in vitro diagnostics industry. These factors are leading to adoption of new technologies by hospitals and diagnostic laboratories in the region. Increase in the disposable income of people in emerging markets in Asia Pacific such as India and China is leading to rise in the health care spending. Moreover, adoption of advanced treatment options is increasing in developing regions, which provides growth opportunities to the global immunohematology market. One of the most significant factors driving the immunohematology market in developing countries such as India and China is the availability of superior treatment facilities at lower prices compared to western countries. This attracts patients from high-prevalence regions such as the U.S. and Europe to these countries. Growing medical tourism industry in developing economies is anticipated to provide growth opportunities to the market for immunohematology in the next few years.
Request Brochure of the Report: