Guwahati Mail

Biochemistry Analysers Market Size Trends Outlook Overview Analysis 2023-2030

 Breaking News
  • No posts were found

Biochemistry Analysers Market Size Trends Outlook Overview Analysis 2023-2030

February 27
15:35 2023
Biochemistry Analysers Market Size Trends Outlook Overview Analysis 2023-2030
DataM Intelligence
The Biochemistry Analysers Market is estimated to reach at a CAGR of 6.2% during the forecast period (2023-2030).

BIOCHEMISTRY ANALYZERS MARKET DYNAMICS

The market for biochemistry analyzers is driven by the increase in the number of people affected with chronic diseases such as diabetes, decentralization of diagnostics services, increase in demand for POC solutions and the rising investment in healthcare infrastructure in emerging markets.

The decentralization of diagnostic services and rising investment in healthcare infrastructure are expected to drive the market’s growth.

The biochemistry analyzers market is driven by rising advancements in technology, an increase in demand for POC solutions, a surge in research and development investments, an increasing number of chronic disorders such as diabetes, and improvements in novel products using the latest technology along with advances in medical infrastructure in emerging markets.  Chronic diseases affect millions worldwide, with diabetes alone affecting 422 million people. With the number of people affected by these disorders increasing worldwide, the demand for diagnostic tests could increase.

 

Download Free Sample: https://www.datamintelligence.com/download-sample/biochemistry-analysers-market

 

Technological advances have resulted in biochemistry analyzers becoming faster and smaller. The rising availability of portable and smaller biochemistry analyzers has made it possible for physicians to set up their point-of-care diagnostic centers instead of sending the samples to large labs.

The number of diseases covered by point-of-care devices is also rising, thus potentially increasing the demand for small analyzers. Along with these factors, due to the necessity of performing biochemistry tests to confirm multiple disorders, rising healthcare expenditure by governments and the private sector could lead to higher investments in infrastructure such as biochemistry analyzers.

Various novel product launches and research studies contribute to the market’s growth. For instance, in 13 May 2022, Mindray announced the launch of its BS-600M chemistry analyzer. This powerful yet efficient analyzer was developed for the medium size laboratories to enhance efficiency, reliability and productivity. It is compact with high throughput that allows continuous sample loading and provides robust performance, excellent precision and accuracy and high-cost efficiency.

The high capital cost associated with biochemistry analyzers is expected to hamper the market’s growth.

The global market for biochemistry analyzers is restrained by the high capital cost of the machines, reduction in insurance reimbursement in some regions and shortage of skilled labor for managing the analyzers as they have complex system integration and hence can’t be managed by a person without any experience of using these biochemical analyzers.

Biochemistry analyzers have a significant capital cost; high-end machines may cost as much as $45000. These high capital costs force users such as hospitals to acquire them on rental plans leading to lower sales.   

 

COVID-19 IMPACT ANALYSIS ON BIOCHEMISTRY ANALYSERS MARKET

The pandemic has positively impacted global financial expectations, operations and crisis response strategy. The COVID-19 outbreak has severely affected the healthcare industry. The biochemistry analyzers market has experienced huge profits due to COVID, as the incidence of liver disorders and respiratory disorders increased due to the virus leading to the demand for these biochemistry analyzers. Key manufacturers have started various research and clinical trials. Multiple initiatives, product launches, collaborations and mergers are happening worldwide, boosting the market’s growth. For instance, in Nov 3, 2021, Mindray, medical devices and solutions developer and supplier, announced its partnership with in-vitro diagnostics company Randox to provide novel biochemistry parameters.

 

GLOBAL BIOCHEMISTRY ANALYZERS MARKET SEGMENT ANALYSIS

The fully automatic biochemistry analyzers-type segment is expected to grow at the fastest CAGR during the forecast period (2022-2029)

The fully automatic biochemistry analyzers type segment is the highest market holder in the global biochemistry analyzers market. The global biochemistry analyzers market is segmented based on type, as fully automated and semi-automatic biochemistry analyzers. The fully automatic biochemistry analyzers segment is the largest market shareholder due to its inherent advantages over semi-automatic analyzers, increasing technological advancements and novel product launches. 

The fully automatic biochemistry analyzer is that samples can be processed in single, batches or continuously. In this type of analyzer, the instrument completes the whole process automatically, from sample addition to results. It only requires the operator to put the sample on the analyzer at a specific position and start the program without manual intervention. It is convenient, less time taking, has fewer measurement errors and provides quick analysis. To maintain product differentiation, key players are introducing new technologies, such as integrated and modular clinical chemistry analyzers, which perform the work of multiple machines at a faster rate.

The growing number of regulatory approvals, technological advancements, product launches, and research/clinical trial studies drive the market’s growth. For instance, in July 22, 2020, Beckman Coulter announced that its novel PK7400 automated microplate system analyzer and its reagents had received U.S. Food and Drug Administration clearance. This analyzer can be utilized in blood donor centers and large laboratories. This system in this class provides high throughput for a single analyzer and processes around 300 samples per hour.

 

Visit The Full Report: https://www.datamintelligence.com/research-report/biochemistry-analysers-market

 

BIOCHEMISTRY ANALYZERS MARKET GEOGRAPHICAL ANALYSIS

North America holds the largest market share in the global biochemistry analyzers market.

North America dominates the global biochemistry analyzers market primarily due to its large population, excellent medical infrastructure, and high-income levels. The market is expected to grow at a relatively high pace during the forecast period due to healthcare expenditure in the US. The market’s significant size is attributed to the high medical expenditure. The number of people affected with chronic disease is projected to rise to 629 million by 2045, as per the International Diabetes Federation. In the UK alone, 500 million biochemistry tests are performed yearly, with more than 50 % being for chronic diseases.

Increasing expenditure on healthcare and raising awareness among people is also contributing to the market’s growth in this region. Advancement of applications of the biochemistry analyzers in several clinical diagnostics and drug development, increase in pharmaceutical establishment across the region and government approvals, and the presence of key players in the region are contributing to the growth of the biochemistry analyzers market. 

Moreover, the growing number of product launches is responsible for the market’s growth. Many key developments, technological advancements, collaborations, and agreements are taking place in this region. For instance, in January 25, 2021, Beckman Coulter, a clinical diagnostics provider, launched its tabletop analyzer, DxH 560 AL, which will minimize the small or medium-sized laboratory’s resources and time constraints. This analyzer is compact and utilizes about 30% less space, offers auto-loading functionality and closed-tube aspiration capabilities, upto 50 samples can be added continually, takes less time on manual tasks and offers security against blood-borne microbes. 

 

BIOCHEMISTRY ANALYZERS MARKET COMPETITIVE LANDSCAPE

The biochemistry analyzers market is highly competitive with local and global companies’ presence. F. Hoffman-La Roche Ltd, Beckman Coulter, Inc., Horiba Medical, Siemens Healthineers AG, Hitachi High-Tech Corporation, EKF Diagnostics, Thermo Fisher Scientific Inc., Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Randox Laboratories Ltd., QuidelOrtho Corporation and more. The key players are adopting various growth strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the market’s growth. For instance, in December 23, 2021, Quidel Corporation, a point-of-care diagnostic solution manufacturer, announced its acquisition agreement completion with Ortho Clinical Diagnostics Holdings plc, an in vitro diagnostics company, to form QuidelOrtho.

Media Contact
Company Name: DataM Intelligence
Contact Person: Sai
Email: Send Email
Phone: +1 877 441 4866
Country: United States
Website: https://www.datamintelligence.com/research-report/biochemistry-analysers-market

Categories