Hemoglobin Testing Devices Market Forecast Report 2025: Revenue and Outlook by Industry Players
Category: #business  By Ronak Bora  Date: 2021-03-25
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Hemoglobin Testing Devices Market Forecast Report 2025: Revenue and Outlook by Industry Players

Hemoglobin Testing Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

The hemoglobin testing devices market is slated to record significant gains over the forthcoming timeframe owing to the growing prevalence of anemia along with increasing technological advancements. Anemia is a public health issue which is affecting both the developed and developing countries. According to statistics, approximately 1.6 billion people in the world are affected by anemia. Rising number of government initiatives that focus on creating awareness about the ill effects of anemia, are further expected to drive the market demand in coming years.

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The demand for point of care testing is also increasing, since more test are being developed, and numerous clinicians are adopting them for regular diagnostics. In many situations, point of care hemoglobin testing devices might suitably substitute the conventional laboratory testing, which includes numerous areas of health care where a very quick hemoglobin measurement might be needed to make an instant therapeutic decision.

The role of technology in hemoglobin testing has created the path for the formation of various innovative techniques and devices for the quantification of hemoglobin concentration in patients. For example, usage of an automated hemoglobin analyzer, enables accurate, fast as well as reliable results in the field of hematology. Usually, a hemoglobin test generally depends on different techniques, which includes reagent, reagent less methods, and non-invasive methods.

Notable industry players operating in the market include EKF Diagnostics, Abbott, Danaher, Roche, B. Bayer medical care, and Biorad among others. As per a research report by GMI, hemoglobin testing devices market is estimated to surpass a $5.3 billion valuation by 2025.

Surging demand for point of care testing can be credited to higher adoption by multiple clinicians for regular diagnostics. The incessant need for quick measurements of hemoglobin to fabricate immediate therapeutic decisions have replaced traditional laboratory testing measures with point of care hemoglobin testing devices. However, inaccuracy in some test results as well as product recalls can hamper the adoption of certain devices to some extent.

Hemoglobin testing devices are extensively used across hospitals, clinics, laboratories, home care settings, and blood banks. Clinics accounted for around 22.7% of the industry share in 2018. The growth rate is likely to stir in the coming years due to an expansion of clinics across emerging economies along with increased consumer preference for diagnostic at clinics considering the access to state-of-the-art facilities. The prevalence of COVID-19 infections worldwide has led to a boost in the adoption of the devices.

The UK is a leading consumer of the hemoglobin test devices and is anticipated to hold a growth rate of 7.5% over the next few years. The constant prevalence of blood-related ailments along with consistent adoption of point of care hemoglobin testing devices can be attributed for the regional growth. Also, mounting government drives to promote awareness regarding variations in hemoglobin tests will expand the availability and demand of the hemoglobinometers across the nation.

EKF Diagnostics, Roche, Abbott, Danaher, B. Bayer medical care, and Bio-Rad are some of the major hemoglobin testing device manufacturers globally. These firms are focusing on developing and modifying the products to strengthen and expand their geographic presence. For instance, Abbott launched the Afinion 2 analyzer, a compact multi-assay that serves as a quick solution to simplify and streamline hemoglobin A1c readings in human blood. The product was launched in 2018 and assists in the delivery of accurate results at the point of care. 

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Partial Chapter of the Table of Content 

Chapter 4. Hemoglobin Testing Devices Market, By Product

4.1. Key segment trends

4.2. Equipment

4.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2. Point of care

4.2.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.2. Portable

4.2.2.2.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.3. Handheld

4.2.2.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.2.4. Benchtop

4.2.2.4.1. Market size, by region, 2014 – 2025 (USD Million)

4.2.3. Laboratory analyzers

4.2.3.1. Market size, by region, 2014 – 2025 (USD Million)

4.3. Consumables

4.3.1. Market size, by region, 2014 – 2025 (USD Million)

Chapter 5. Hemoglobin Testing Devices Market, By Technology

5.1. Key segment trends

5.2. Chromatography

5.2.1. Market size, by region, 2014 – 2025 (USD Million)

5.3. Immunoassay

5.3.1. Market size, by region, 2014 – 2025 (USD Million)

5.4. Spectrophotometry

5.4.1. Market size, by region, 2014 – 2025 (USD Million)

5.5. Others

5.5.1. Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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