Global Hematology Market Size By Product, By Application, By Geographic Scope And Forecast

Report Highlights

Hematology Market Size And Forecast

Hematology Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2021 to 2027.

The Hematology Market report provides a holistic evaluation of the market for the forecast period. The report comprises of various segments as well an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics, involves the drivers, restraints, opportunities and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Hematology Market study provides an outlook on the development of market in terms of revenue throughout the prognosis period.

Global Hematology Market Overview

The increasing incidence of blood-related disorders is expected to propel the growth of the global hematology market. The rising incidence of blood cancer is a major factor contributing to the growth of the market. For instance, according to GLOBOCAN 2018, more than 1.85 million new blood cancer cases are expected to be diagnosed in 2040 across the globe. Furthermore, according to the American Cancer Society, Non-Hodgkin lymphoma is one of the more common types of cancer in the U.S., accounting for 4% of all cancer cases. An estimated 74,680 patients were diagnosed with Non-Hodgkin lymphoma in the U.S. in 2018.

In addition, increasing incidence of hemophilia and sickle-cell anemia is expected to drive the growth of the global hematology market. For instance, according to the World Federation of Hemophilias (WFH) 2018 statistics, around 440,000 people had hemophilia, out of which around 173,000 people were diagnosed with hemophilia A or B in 2017 globally. Furthermore, as per the World Health Organization, in 2018, the prevalence of anemia in children was around 45% and 12% in men, and it is increasing rapidly all over the world. Similarly, According to the National Institute of Health (NIH), anemia affects 30% of women of reproductive age and 40% of pregnant women, globally. Stringent regulatory and reimbursement policies on product launches, as well as product recalls due to safety violations are projected to hamper the growth of the market over the forecast period. For instance, in April 2017, Sysmex, a Japanese medical devices company recalled 3,682 XN Series Automated Hematology Analyzers, owing to increases in incidences of fire caused due to improper alignment of an internal protective sheet that protects electronic components from salty reagents used in hematological sample analysis.

This report provides an all-inclusive environment of the analysis for the Hematology Market. The market estimates provided in the report are the result of in-depth secondary research, primary interviews and in-house expert reviews. These market estimates have been considered by studying the impact of various social, political and economic factors along with the current market dynamics affecting the Hematology Market growth.

Along with the market overview, which comprises of the market dynamics the chapter includes a Porter’s Five Forces analysis which explains the five forces: namely buyers bargaining power, suppliers bargaining power, threat of new entrants, threat of substitutes, and degree of competition in the Hematology Market. It explains the various participants, such as system integrators, intermediaries and end-users within the ecosystem of the market. The report also focuses on the competitive landscape of the Hematology Market.