The COVID-19 impact is expected to have a positive impact on the market owing to the increase in the diseases related to the blood among the COVD infected patients. For instance, in 2021, the article titled' Anemia predicts poor outcomes of COVID-19 in hospitalized patients published that the prevalence of anemia in hospitalized patients with COVID-19 was high and it was associated with the poor outcomes of COVID-19. Thus, such an increasing prevalence of blood-related diseases in the COVID-19 infected patients increased the demand for hematocrit test devices.
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, the growing incidence of anemia, other chronic disease-induced anemia, and technological advancements supported by government funding and initiatives are also likely to boost the market growth. For instance, the article published in 2020 titled' Prevalence of anemia and its association with dietary pattern among elderly population of urban slums in Kochi' mentioned that the prevalence of anemia among the elderly was observed to be 60.6% out of which 66% were females and 49% were males. Similarly, the article published in 2020, titled 'Incidence and mortality trend of congenital heart disease at global, regional and national level' mentioned that Congenital Heart Disease (CHD) is one of the most frequently diagnosed conginetal disorders afflicting approximately 0.8% to 1.2% of live births worldwide. Thus due to the increasing blood related disorders are expected to drive the growth of the market.
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.
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 in 2020, 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 holds the major share in the global hematocrit test devices market owing to the high adoption of hematocrit tests with other diagnostic tests and the high prevalence of chronic diseases. in 2022, the American Society of Hematology published that anemia is the most common blood disorder and it affects more than 3 million Americans.
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.
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. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Abbott Laboratories, Boule Diagnostics AB, Danaher Corporation, EKF Diagnostics, F.Hoffmann-La Roche Ltd, HORIBA Ltd, Nova Biomedical, Sysmex Corporation and others.
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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, the growing incidence of anemia, other chronic disease-induced anemia, and technological advancements supported by government funding and initiatives are also likely to boost the market growth. For instance, the article published in 2020 titled' Prevalence of anemia and its association with dietary pattern among elderly population of urban slums in Kochi' mentioned that the prevalence of anemia among the elderly was observed to be 60.6% out of which 66% were females and 49% were males. Similarly, the article published in 2020, titled 'Incidence and mortality trend of congenital heart disease at global, regional and national level' mentioned that Congenital Heart Disease (CHD) is one of the most frequently diagnosed conginetal disorders afflicting approximately 0.8% to 1.2% of live births worldwide. Thus due to the increasing blood related disorders are expected to drive the growth of the market.
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 in 2020, 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 tests with other diagnostic tests and the high prevalence of chronic diseases. in 2022, the American Society of Hematology published that anemia is the most common blood disorder and it affects more than 3 million Americans.
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.
Competitive Landscape
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. In terms of market share, a few of the major players are currently dominating the market. Some of the companies which are currently dominating the market are Abbott Laboratories, Boule Diagnostics AB, Danaher Corporation, EKF Diagnostics, F.Hoffmann-La Roche Ltd, HORIBA Ltd, Nova Biomedical, Sysmex Corporation and others.
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Abbott Laboratories
- Boule Diagnostics AB
- Danaher Corporation
- EKF Diagnostics
- F. Hoffmann-La Roche Ltd.
- HORIBA, Ltd.
- Nova Biomedical
- Sysmex Corporation
Methodology
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