Hemoglobin testing: Key market research findings
- Development and launch of novel testing devices to drive market growth
- Laboratory segment to be the dominant shareholder in the market
- Key vendors – Abbott Laboratories, Alere, Danaher, EKF Diagnostics Holdings, and F. Hoffmann-La Roche
Technavio’s market research analysts predict the global hemoglobin testing market to grow at a CAGR of almost 11% between 2016 and 2020. The demand for hemoglobin testing is currently witnessing an upsurge due to development and launch of novel hemoglobin testing devices. In this market, manufacturers are focusing on the development of hemoglobin testing devices that can be used at home settings. Furthermore, vendors are also developing compact and portable devices that require less space and can be transferred easily. For instance, EKF Diagnostics introduced a palm-sized DiaSpect Tm, the fastest portable hemoglobin analyzer that delivers high-quality results in just a second. The Americas dominated the global hemoglobin testing market by accounting for around 58% of the overall market share. Factors such as the increased sale of testing devices in Brazil, growing adoption of point-of-care testing (POCT), and the emerging trend of direct-to-consumer based laboratory tests are likely to boost market growth in the Americas.
The new market research report from Technavio presents a breakdown and analysis of the hemoglobin testing segments based on the end-user.
“Recently, there has been a noticeable shift from centralized laboratories to POCT. The increased amount of time required for sample analysis in centralized testing is the driving force behind this ongoing change. In POCT, the results are provided instantly in the point-of-care (POC) settings, thus, enabling immediate diagnosis of diseases and the effective initiation of treatment strategies,” says Barath Palada, Lead Analyst, Healthcare & Lifesciences, Technavio Research.
The laboratory segment accounted for around 58% of the total market share to become the dominant shareholder in the global hemoglobin testing market during 2015. This segment is expected to show substantial growth during the forecast period as centralized and small and medium-sized laboratories perform the majority of the analysis to cater to the needs of hospitals and diagnostic centers. Centralized laboratories, often linked to hospitals that provide cost-effective hemoglobin testing, conduct high-volume sample analysis with integrated automated systems at a time and send the individual’s report electronically to the hospital.
The key vendors in the market include Abbott Laboratories, Alere, Danaher, EKF Diagnostics Holdings, and F. Hoffmann-La Roche. This market is extremely competitive and is dominated by numerous global and regional players. In this market, factors like the high demand for advanced diagnostic tools and product innovation by vendors will spur the prospects for market growth. Since a few key players dominate this market, smaller vendors have to develop high-standard analyzers to gain a competitive edge over the larger players.
A more detailed analysis is available in the Technavio report, Global Hemoglobin Testing Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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