Global Hemoglobin Meter Market, By Product Type (Bench-top, Portable), Technology (Full-automatic, Semi-automatic), End-User (Hospitals, Labs, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Others) – Industry Trends and Forecast to 2029
Market Analysis and Size
Blood poisoning is a condition wherein the blood gets injected when some bacteria enters the blood stream. Such infection can be transferred to others during blood transfusion or blood donation arrangements. Commonly spreading blood infections are malaria, syphilis, and brucellosis, and human immunodeficiency virus (HIV). Here arises the need for technologically advanced medical devices to measure the hemoglobin and hematocrit levels in the whole blood and check the quality of blood. This has led to the introduction of hemoglobin meters in the market.
Data Bridge Market Research analyses that the hemoglobin meter market is expected to grow at a CAGR of 6.5% during the forecast period. "Hospitals" account for the largest end-user segment in the hemoglobin meter market due to the rising adoption of these devices in developing economies and the increasing prevalence of blood infections worldwide.
Market Definition
Hemoglobin meters are the medical devices that are used to analyse the quality of blood by determining the severity of haematocrit, anaemia and others. These devices are used to measure the hemoglobin content and red blood cell count of the blood by spectrophotometric measurement. Not just that, hemoglobin meters are used to detect and diagnose anaemic conditions in children and adults or scrren and diagnose infections/ diseases that might affect the red blood cells.
Hemoglobin Meter Market Dynamics Drivers
- The rise in the prevalence of disorders
The surging prevalence of chronic disorders all around the globe is one of the major factors responsible for fostering growth in the demand for hemoglobin meters. In other words, the growing incidence rate of anaemia, diabetes and others is creating lucrative growth opportunities for the hemoglobin meter market. Patients suffering from diabetes have to regularly undergo tests which will prove to be a boon for the hemoglobin meter market.
- Rising old age population base
It is a fact of life that one becomes more vulnerable to developing diseases and disorders as the age grows. Moreover, the prevalence of diabetes is being catalyzed by geriatric population. In many a cases, geriatric population aims to get access to homecare settings including portable medical devices such as hemoglobin meters. This indicates that increasing ageing population base will widen the scope of growth for the hemeglobin meter market.
- Government investments on healthcare infrastructure
The increase in the funding by the federal government is set to drive the demand for hemoglobin meter. Moreover, growth and expansion of healthcare industry being driven by both public and private players especially in the developing economies will create lucrative hemoglobin meter market growth opportunities.
Additionally, surge in the personal disposable income level, rising awareness about the several advantages of hemoglobin meters, poor dietary habits, sedentary lifestyles and increasing investment for the development of advanced and innovative technology, positively affect the market growth rate.
Opportunities
Furthermore, upsurge in the public-private funding for target research activities and rising prevalence of obesity all around the world will extend profitable opportunities for the market players in the forecast period of 2022 to 2029. Additionally, rising awareness for blood-related ailments and increasing per capita expenditure on health care will further expand the market's growth rate in the future.
Restraints/Challenges
On the other hand, high costs associated with the research and development proficiencies, lack of awareness in the underdeveloped economies, limited infrastructural facilities, high operational and maintenance costs associated with portable medical devices and dearth of skilled medical professionals and researchers are expected to obstruct market growth. Also, the lack of favorable reimbursement scenarios in the developing economies and availability of low cost treatment alternatives are projected to challenge the market in the forecast period of 2022-2029.
This hemoglobin meter market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the hemoglobin meter market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Hemoglobin Meter Market
COVID-19 largely affected the hemoglobin meter market due to the wide availability of diagnostics to control the virus's rapid spread in this pandemic phase. Governments explored the possibilities of allowing private laboratories to ramp up blood testing. Focus was induced towards meeting the requirements of COVID-19 patients in this phase. Also, liberalization pertaining to curfews and social distancing in the coming future would initiate a rise in demand.
Global Hemoglobin Meter Market Scope
The hemoglobin meter market is segmented on the basis of product type, technology, end-user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Bench-top
- Portable
On the basis of product type, the hemoglobin meter market is segmented into bench-top and portable.
Technology
- Full-automatic
- Semi-automatic
On the basis of modality, the hemoglobin meter market is bifurcated into full-automatic and semi-automatic.
End-user
- Hospitals
- Labs
- Others
On the basis of end user, the hemoglobin meter market is segregated into hospitals, labs and others.
Distribution channel
- Hospital Pharmacies
- Retail Pharmacies
- Others
On the basis of distribution channel, the hemoglobin meter market is segmented into hospital pharmacies, retail pharmacies and others.
Hemoglobin Meter Market Regional Analysis/Insights
The hemoglobin meter market is analyzed and market size insights and trends are provided by country, product type, technology, end-user and distribution channel as referenced above.
The countries covered in the hemoglobin meter market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the hemoglobin meter market because of the strong base of healthcare facilities and increasing demand for novel diagnostic instruments in the hospitals.
Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increase in government initiatives to promote awareness, rise in medical tourism, increasing awareness of the people about blood-related complications and the growing demand for quality healthcare in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The hemoglobin meter market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for hemoglobin meter market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the hemoglobin meter market. The data is available for historic period 2010-2020.
Competitive Landscape and Hemoglobin Meter Market Share Analysis
The hemoglobin meter market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to hemoglobin meter market.
Some of the major players operating in the hemoglobin meter market are Abbott, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Sysmex Corporation, Beckman Coulter, Inc., F. Hoffmann-La Roche Ltd, GREENCROSS MEDIS Corp, Erba Mannheim, Trinity Biotech, Bio-Rad Laboratories, Inc., Danaher, Siemens Healthcare GmbH, Thermo Fisher Scientific Inc., PTS Diagnostics, DiaSys Diagnostic Systems GmbH, EKF Diagnostics, OSANG Healthcare., HUMAN, LITE-ON Technology Corporation, ACON Laboratories, Inc., and Quidel Corporation among others.
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