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Global Hemoglobin Testing Market to Witness Moderate Growth During 2020-2025, Spurred by Innovation in Testing Methods

According to the recent report by IMARC Group, titled “Hemoglobin Testing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,the global hemoglobin testing market size reached US$ 1.84 Billion in 2019. A hemoglobin (Hgb) test determines the level of hemoglobin or the count of red blood cells (RBC) in the blood. Hemoglobin is a type of protein present in the RBCs that transports oxygen from the lungs to the tissues and organs, and then carries carbon dioxide back to the lungs. A hemoglobin test can be performed by the doctors as a part of a patient’s routine checkup. If the examination reveals low levels of hemoglobin than the standard range, then that means the body is prone to anemia and if it is higher, then it can be a symptom of other disorders. Subsequently, the doctors prescribe medicines and dietary changes to maintain an optimum level of hemoglobin in the body.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Hemoglobin Testing Market Trends:

Fast-paced lifestyles of the working population have led to irregular mealtime and increased the dependence on ready-to-eat food. Improper diet and stress have led to a rise in the number of chronic diseases, like diabetes and anemia, thereby propelling the demand for hemoglobin testing. Moreover, the provision of home care testing by several healthcare centers has made the test more convenient for users as they get doorstep services of collecting samples and faster results. Apart from this, the development of advanced hemoglobin testing equipment is spurring the market growth. For instance, a mobile health app called Mhematology has been introduced that allows users to measure their hemoglobin levels from the comforts of their home. This non-invasive method offers faster results than the traditional method. Furthermore, the outbreak of the coronavirus disease (COVID-19) has bolstered the growth of telemedicine and mobile health services, which, in turn, is creating a positive outlook for the market. This is further supported by the rising number of FDA approvals for novel hemoglobin tests. For instance, HemoCue received clearance from the USFDA for its point-of-care testing product in February 2019. On account of these factors, the market is expected to experience moderate growth during the forecast period (2020-2025).

Market Summary:

  • Based on the product type, reagents and consumables account for the majority of the total market share, followed by equipment.
  • On the basis of technology, the market has been categorized into immunoassay, chromatography, and others. Currently, chromatography represents the leading segment for hemoglobin testing.
  • Based on the end user, the market has been divided into research centers, laboratories, and hospitals. Among these, laboratories exhibit a clear dominance in the market.
  • Region-wise, North America holds the biggest market share. Other major regions include Latin America, Middle East and Africa, Europe, and Asia Pacific.
  • The competitive landscape of the market has been analyzed in the report, with some of the key players being Abbott Laboratories, Bio-Rad Laboratories, Danaher, DiaSys Diagnostic Systems, Epinex Diagnostics, Erba Diagnostics, EKF Diagnostics, F. Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, Bayer Medical Care, Daiichi Biotech, Alere, ACON Laboratories, and ARKRAY.
     

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