by Technologically Advanced Automated Clinical Chemistry Analyzers Gaining Popularity
The use of clinical chemistry analyzers has increased at a rapid pace over the past few decades, owing to significant advancements in technology and rising requirements of the healthcare industry. Clinical chemistry primarily focuses on the analysis of internal fluids within the body and offers accurate diagnostic insights. Conventional manual laboratory tests have laid a strong foundation for modern-day clinical chemistry. However, testing methods have evolved with advancements in technology and at present, several tests can be performed in automated laboratories using advanced instruments such as chemical analyzers.
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Significant developments in the design of modern-day clinical chemistry analyzers are expected to define the path of the clinical chemistry analyzers market, which is poised expected to reach a value of ~US$ 16.3 Bn by 2027. Groundbreaking technological advancements, improved production techniques, and entry of cutting-edge software are some of the factors that are projected to accelerate the growth of the clinical chemistry analyzers market during the forecast period (2019-2027). Hospitals, point of care diagnostic centers, research laboratories are the most prominent end users in the clinical chemistry analyzers market.
Automation in Clinical Chemistry – A Growing Trend
Computer technology has played a pivotal role in transforming the clinical chemistry segment, which, at present, is adopting informatics and automation. Automation in clinical chemistry has improved throughput to enable significantly higher testing volumes and efficiency, and minimizing human error. Moreover, automated clinical chemistry analyzers have proven their efficacy in minimizing cross-contamination and offer a high degree of safety from biohazard. The demand for automated chemistry analyzers has thus witnessed substantial growth in recent years and the trend is anticipated to continue during the forecast period. Fully automatic clinical chemistry analyzers are projected to account for ~64% share of the clinical chemistry analyzers market. This technology segment is expected to reach a value of ~US$ 10.4 Bn by 2027. The adoption of automated chemistry analyzers is expected to grow, as stakeholders in the clinical chemistry analyzers market value chain are leveraging favorable reimbursement policies and technologies to develop flexible instruments that offer superior performance than previous product types.
Future of Clinical Chemistry Analyzers Market Hinges on R&D Activities
The clinical chemistry analyzers market has continually witnessed innovations predominantly driven by the evolution of technology. Ongoing R&D activities, coupled with integration of advanced software technologies in clinical laboratories are expected to shape the future of clinical chemistry analyzers. Furthermore, stakeholders are likely to develop new products that are in-sync with the requirements of laboratories. Participants operating in the clinical chemistry analyzers market are engaged in the development of customized analyzers for small-scale laboratories. Additionally, manufacturers in the clinical chemistry analyzers market are increasingly developing downsized clinical chemistry analyzers that open the floodgates for improved testing capabilities. The next generation of clinical chemistry analyzers will further improve the workflow efficiencies in hospitals, point-of-care diagnostic centers, and research laboratories. Significant efforts are in store to integrate molecular diagnostics instruments and mass spectrometry with clinical chemistry systems.
Clinical Chemistry Analyzers Market Players Engage in Product Development
As the clinical chemistry analyzers market enters the automation era, manufacturers in the market are expected to focus on expanding their product portfolio by developing cutting-edge products according to current lab requirements. For instance, Trivitron Healthcare, an Indian health-tech company, launched a fully automated chemistry analyzer – ‘Nanolab 200’ in July 2019. The newly launched product is an automated benchtop chemistry analyzer that has a throughput of around 200 tests per hour. Integrated with cutting-edge liquid level detection technology, the newly launched product is expected to improve efficiency levels across clinical laboratories.
Companies are also focusing on opportunities in mid-sized laboratories wherein the integration of automated systems is a major challenge. Several manufacturers are launching compact analyzers with improved turn-around-time (TAT). For instance, in August 2019, the ERBA Group launched a new range of clinical chemistry analyzers, including XL 200 and XL 640 that are easier to operate and integrate with the advanced software version.
Analysts’ Viewpoint
The clinical chemistry analyzers market is expected to grow at a CAGR of ~4% during the forecast period. Automation will continue to fuel major developments in the clinical chemistry analyzer market. Companies operating in the current landscape should identify evolving requirements of clinical laboratories and develop new products with improved throughput. Research and development activities will continue to play a key role in the development of future generations of clinical laboratory instruments. Due to significant technological developments in North America and Europe, these regions will continue to remain the most prominent markets for clinical chemistry analyzers during the forecast period.
Clinical Chemistry Analyzers Market: Overview
According to Transparency Market Research’s latest market report on the clinical chemistry analyzers market for the historical period of 2017–2018 and forecast period of 2019–2027, rise in prevalence of chronic diseases and adoption of point-of-care testing in diagnosis of various diseases are anticipated to drive the global clinical chemistry analyzers market
According to the report, the global clinical chemistry analyzers market was valued at ~US$ 11.3 Bn in 2018. The clinical chemistry analyzers market is projected to expand at a CAGR of ~4% from 2019 to 2027.
Increase in Demand for Portable Devices and Point-of-Care Testing to Accelerate Clinical Chemistry Analyzers Market Growth
Point-of care testing is driving the clinical chemistry analyzers market. The point-of-care testing is driven by technological advancements as well as patient reference. Manufacturers are making continuous progress in terms of research & development to create products with newer, advanced technologies. For instance, sensor technologies enable rapid analysis of blood samples for several critical care assays, including chemistries, electrolytes, blood gases, and hematology.
Technological innovations, such as next generation microfluidic devices are capable of efficient separation of CTCs from whole blood. These devices require low consumption of reagents and samples, and provide fast turnaround time for analysis. Technological advancements in point-of-care testing devices have contributed to the growth of clinical chemistry analyzers.
Increase in burden of chronic diseases across the globe, especially in developed countries, has resulted in the adoption of portable clinical chemistry analyzers. Hence, rise in demand for portable or benchtop clinical chemistry analyzers is expected to result in reduced health care costs and lead to enhanced rate of diagnosis and treatment, which would subsequently propel the global clinical chemistry analyzers market.
Large Target Patient Pool
Rise in incidence of lifestyle diseases such as cardiac diseases and diabetes, increase in incidence of infectious diseases in developing countries, growth in usage of home-based point-of-care devices, and technological advancements with regard to development of advanced, fast, and easy-to-use devices are fueling the demand for clinical chemistry analyzers
Consistent rise in geriatric population leads to increased risk of acquiring several chronic disorders, thereby creating a need and demand for effective diagnostic and therapeutic methodologies. This, in turn, influences the growth of the clinical chemistry analyzers market.
In May 2019, Beckman Coulter introduced DxA 5000, the total laboratory automation solution, which has received European CE Mark and China Food and Drug Administration approval. The DxA 5000 utilizes intelligent routing to bring automated patient-centric workflow to the laboratory. By comprehending the tests requested and availability of sample volume, the DxA 5000 constantly calculates the most prompt route for every patient sample.
Introduction of new products and advanced technologies are likely to fuel the growth of the global clinical chemistry analyzers market
High Cost of Automated Instruments to Hamper Clinical Chemistry Analyzers Market
Advancements in technology in clinical chemistry analyzers carry a heavy price tag. The cost of analyzers is increasing with rise in automation and integration of clinical analyzers. Laboratories cannot afford high cost instruments. Therefore, instruments, which are cost-effective and easy-to-use, are needed.
High instrument cost can increase testing expenditure, which can restrain the global clinical chemistry analyzers market during the forecast period
Clinical Chemistry Analyzers Market: Competition Landscape
This report profiles major players in the global clinical chemistry analyzers market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments
The clinical chemistry analyzers market is moderately fragmented, with the presence of a few large-scale players present in international market and numerous small-scale players in regional markets. Top four to five players hold majority share of the global clinical chemistry analyzers market.
Prominent players operating in the global clinical chemistry analyzers market include
- Ortho Clinical Diagnostics
- F. Hoffmann-La Roche Ltd.
- Danaher Corporation
- Randox Laboratories Ltd
- Siemens Healthineers
- Abbott Laboratories
- Thermo Fisher Scientific, Inc.
- Mindray Medical International Limited
Key Questions Answered in Clinical Chemistry Analyzers Market Report
- What is the scope of growth of companies in the clinical chemistry analyzers market?
- What will be the Y-o-Y growth of the clinical chemistry analyzers market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global clinical chemistry analyzers market?
- Will North America continue to remain the most profitable regional market for clinical chemistry analyzers providers?
- Which factors will impede the growth of the global clinical chemistry analyzers market during the forecast period?
- Which are the leading companies in the global clinical chemistry analyzers market?
Clinical Chemistry Analyzers Market – Segmentation
Product
- Panels & Reagents
- Analyzers
Technology
- Semi-automatic
- Fully Automatic
Modality
- Centralized
- Decentralized
End User
- Hospitals
- Diagnostic Centers
- Academic Research Institutes
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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