July 30, 2020
According to the research report titled ‘ Global Clinical Chemistry Analyzer Market: By Product Type (Analyzer, Reagent), By Test Type By Region, By Country (2019 Edition): Opportunities and Forecast (2013-2023) - By Region (North America, Europe, APAC, ROW), By Country ’ available with Market Study Report LLC, global clinical chemistry analyzer market is expected to expand substantially, registering a CAGR of 10.78% over the period of 2018-2023.
As per the findings of the report, rapid expansion of diagnostics market along with growing occurrences of lifestyle diseases such as diabetes, cardiovascular ailments are major factors driving the growth of clinical chemistry analyzer market. Rising healthcare spending and growing demand of laboratory automation are also augmenting the expansion of the market. Additionally, increasing number of diagnostics research centers and hospitals due to rising prevalence of chronic ailments such as vector borne diseases, blood issues, and cancer are favoring the market scenario. Favorable government policies and availability of advanced clinical research infrastructure are fueling the market growth.
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For those unaware, clinical chemistry analyzers are devices that are programmed to determine and investigate the levels of protein and sugar present in the blood. These analyzers obtain precise results within the least conceivable time owing to their advanced in-built technologies.
In terms of product terrain, global clinical chemistry analyzer market is split into reagent and analyzer. As far as the test type is concerned, the market segmented into thyroid function, renal profile, liver profile, lipid profile, basic metabolic panel and others.
As per the regional analysis, the industry is bifurcated into North America, Asia-Pacific, Europe, and rest of the world. The country-level segmentation of global clinical chemistry analyzer market includes U.S., Canada, Germany, United Kingdom, rest of Europe, Japan, India, China, rest of Asia-Pacific, and Brazil among others.
The report states that North America held a significant market share in the year 2018 and is predicted to expand continuously in the upcoming years. On the other hand, Asia-Pacific clinical chemistry analyzer industry is poised to accumulate appreciable returns during the study duration. Increased pervasiveness of chronic conditions and rising elderly population are swaying the business dynamics in Asia-Pacific.
The key participants in global clinical chemistry analyzer market are Horiba Ltd, ELITech Group Inc., Randox Laboratories Ltd, BioPorto A/S, Thermo Fisher Scientific, Danaher Corporation, Siemens AG, Roche Diagnostics, Beckman Coulter Inc., and Abbott Laboratories among others.