Global Hemoglobin Testing Market to Grow at 5.4% During 2024-2032, Spurred by Innovation in Testing Methods

August 08, 2019 | Healthcare

According to the recent report by IMARC Group, titled “Hemoglobin Testing Market Report by Product Type (Reagents and Consumables, Equipment), Technology (Chromatography, Immunoassay, and Others), End-User (Laboratories, Hospitals, Research Centers), and Region 2024-2032,” the global hemoglobin testing market reached a value of US$ 2.4 Billion in 2023. 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.

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 grow at a CAGR of 5.4% during 2024-2032.

Market Summary:

Based on the product type, reagents and consumables account for the majority of the total market share.
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, hospitals 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.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product Type, Technology, End-User, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Abbott Laboratories, Bio-Rad Laboratories, Danaher, EKF Diagnostics, F. Hoffmann-La Roche, Siemens Healthineers, Thermo Fisher Scientific, Alere, ACON Laboratories, ARKRAY, Bayer Medical Care, Daiichi Biotech, DiaSys Diagnostic Systems, Epinex Diagnostics and Erba Diagnostics
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
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Global Hemoglobin Testing Market to Grow at 5.4% During 2024-2032, Spurred by Innovation in Testing Methods

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