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Global Hemoglobin Testing Market to Reach US$ 2.8 Billion by 2024, Impelled by Increasing Prevalence of Anemia

According to the latest report by IMARC Group, titled “Hemoglobin Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global hemoglobin testing market size reached US$ 1.7 Billion in 2018. Hemoglobin is a protein present in the red blood cells (RBCs) that transports oxygen to the tissues and organs as well as carries carbon dioxide away from the cells to the lungs. A hemoglobin test is done to measure the RBC count or the hemoglobin levels in one’s body. This test can be done by the doctors as a part of a patient’s routine checkup to detect health issues. If the hemoglobin levels in the individual’s body are higher or lower than the standard range, the body is unable to function at an optimum level. These tests are widely suggested by doctors for the detection of severe blood disorders, including anemia and polycythemia.

Global Hemoglobin Testing Market to Reach US$ 2.8 Billion by 2024

Global Hemoglobin Testing Market Trends:

One of the major factors driving the growth of the hemoglobin testing market is the increasing prevalence of anemia across the globe. The lack of a properly balanced diet on account of busy schedules and shifting dietary preferences is one of the major causes of anemia, which has created an escalating demand for hemoglobin testing. Apart from this, the provision of home care testing by various pathology labs and healthcare centers is also spurring the growth of the market. Such services serve as a convenient option for the users as they not only provide doorstep pickup of samples but also offer faster and accurate results. Furthermore, governments of several nations across the globe are continually engaging in research and development (R&D) activities to improve the healthcare infrastructure. Other factors including the advent of portable hemoglobinometers, growing geriatric population and increasing healthcare expenditure capacity of consumers are also providing a thrust to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.8 Billion by 2024, growing at a CAGR of 8.5% during 2019-2024.

Market Summary:

  • On the basis of the product, the market has been bifurcated into reagents and consumables, and equipment, wherein reagents and consumables represent the leading segment.
  • Based on the technology, the market has been divided into chromatography, immunoassay and other. Amongst these, chromatography exhibits a clear dominance in the market.
  • On the basis of the end user, laboratories account for a majority of the total market share. Other major segments include hospitals and research centers.
  • On the geographical front, the market has been categorized into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. At present, North America holds the largest share in the market.
  • The competitive landscape of the market has also been studied with the detailed profiles of the key players. Some of these players include Abbott Laboratories, Bio-Rad Laboratories, Inc., Danaher Corporation, EKF Diagnostics, F. Hoffmann-La Roche AG, Siemens Healthineers AG, Thermo Fisher Scientific, Inc., Alere Inc., ACON Laboratories, ARKRAY, Inc., Bayer Medical Care Inc, Daiichi Biotech Services, DiaSys Diagnostic Systems GmbH, Epinex Diagnostics, Inc. and Erba Diagnostics.

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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