Hematocrit Test Market

Hematocrit Test Market Outlook (2023 to 2033)

Worldwide demand for hematocrit test is projected to increase at a stupendous CAGR of 5% from 2023 to 2033. The global hematocrit test market size is estimated to increase from a valuation of US$ 3 billion in 2023 to US$ 4.9 billion by 2033-end.

A hematocrit test is a diagnostic procedure that measures the percentage of red blood cells (RBCs) in the total blood volume. It provides valuable information about a person's overall health and potential medical conditions. The hematocrit test is widely used in clinical settings, laboratories, and blood banks.

Red blood cell counts that are abnormally low or high could be a sign of certain disorders. The test is generally used to identify several illnesses, including anemia, leukemia, lymphoma, and others. The increased prevalence of chronic diseases such as diabetes and others, as well as changing lifestyles and rising demand for diagnostic tools for cardiovascular diseases, are driving the hematocrit test market. Hematocrit tests are required for anemia diagnosis to count red blood cells.

Rapidly increasing geriatric population and technological advancements supported by government funding and efforts are the main factors propelling the growth of the hematocrit test market. The market is expanding as a result of rapid industrialization and urbanization in emerging economies. There is a significant demand for hematocrit test products and services due to rising infrastructure development initiatives.

• Hospitals currently represent the prominent end user for hematocrit tests. This is a result of an increase in hospital visits for checkups and tests as a result of people's increasing awareness of the importance of early disease diagnosis and treatment. Market expansion is being fueled by a rise in government programs that offer free or heavily discounted healthcare services.

The hematocrit test market is growing due to development activities, technological advancements in pharmaceutical devices for understanding the test, and extensive use of the test. Rapid monitoring and speedy treatment are just two additional advantages of hematocrit test products that have a positive effect on the increase in usage of the test, which is driving market expansion.

Report Attributes	Details
Hematocrit Test Market Size (2023)	US$ 3 Billion
Projected Market Value (2033)	US$ 4.9 Billion
Global Market Growth Rate (2023 to 2033)	5% CAGR
Market Share of Hematocrit Test Analyzers (2023)	50%
Market Share of North America (2023)	40%
Key Companies Profiled	Mindray Boule Diagnostics Abbott Roche Siemens Nihon Kohden Bio-Rad Laboratories Danaher Horiba Sysmex Corporation

What are the Key Trends Contributing to Global Hematocrit Test Market Progress?

“Notable Technological Advancements in Hematocrit Testing Devices”

Rapid innovations in medical devices and R&D activities are employed to raise awareness of the test. Hematocrit Tests are widely used, which is propelling market expansion. For example, automated sample collection, test identification, and lab automation are easy to use.

One of the key factors propelling the expansion of the worldwide hematocrit test devices market is technological advancements in hematocrit testing. Hematocrit tests also provide the benefit of quick monitoring and therapy, which has a beneficial impact on market expansion. Hematocrit tests are increasingly in demand as more diseases and disorders are being assessed on the global market.

The global hematocrit test market is growing as a result of the introduction of innovative products. Researchers created thermometer-like strip-based microfluidic devices to measure the hematocrit. It has become possible to create diagnostic tests designed for use at the point of care using paper-based microfluidic devices.

• In 2018, a producer of diagnostic tools named Sysmex Corporation introduced the CN-6000 and CN-3000, a next-generation automated blood analyzer.

“Surging Need for Portable Point-of-care Testing Devices”

Point-of-care testing (POCT) uses basic instruments, including visually interpreted dipsticks and kits that require little upkeep and are easy to use. Numerous gadgets for use in various clinical settings have been developed as a result of the increasing need for faster test results and the rapid improvement of technology to enhance patient care.

The most often used POCT in hematology is the determination of hemoglobin concentration. The groundwork for identifying and treating these diseases is being laid by additional POCT devices for malaria screening and CD4+ T-lymphocytes for assessing human immunodeficiency virus. For white blood cell count, platelet count, and red cell indices, new instruments are also accessible.

“Growing Acceptance of Hematocrit Testing Devices to Diagnose Blood-related Disorders”

Healthcare professionals are beginning to accept hematocrit test devices since it has been demonstrated that they generate accurate complete blood count results, which help doctors treat and diagnose blood-borne infections. Due to its effectiveness in evaluating the hematocrit value when compared to the manual hematocrit assessment technique, this gadget has grown in popularity.

Medical professionals are using hematocrit testing devices regularly because they are effective in obtaining precise whole blood count data that help doctors treat and diagnose blood-related disorders. This is projected to boost the sales of hematocrit test devices over the coming years.

What is Hampering the Sales Growth of Hematocrit Test Devices?

“Lack of Skilled Professionals and Costly Diagnostic Procedures”

A shortage of skilled professionals is restraining the demand for hematocrit test devices. High costs of cardiovascular disease detection and treatment also limit market expansion. The incorrect or misleading results of the test and the lack of knowledge regarding the use of hematocrit testing in disease diagnosis, are hampering market growth for hematocrit tests.

Costly diagnostic procedures and lengthy regulatory approval processes are anticipated to restrain market expansion over the coming years. Access to healthcare facilities, including diagnostic laboratories and blood banks, is limited in some developing regions. This lack of infrastructure and resources restricts the availability and adoption of hematocrit tests, hindering hematocrit test market growth in these areas.

How are Start-ups Enhancing Their Market Position in This Space?

“New Companies Focusing on Improving Accuracy, Speed, and Accessibility of Hematocrit Measurements”

Alongside established players, the hematocrit tests market has witnessed the emergence of several start-ups that are bringing innovation and disruption to the industry. They are leveraging advanced technologies and data analytics to provide novel approaches to hematocrit testing.

New companies are pushing the boundaries of hematocrit testing by introducing novel technologies, point-of-care diagnostics, and integrated diagnostic approaches. Their innovations aim to improve the accuracy, speed, and accessibility of hematocrit measurements, ultimately enhancing patient care and diagnostic outcomes. As the market continues to evolve, emerging market players are likely to contribute to advancements in the field and shape the future of hematocrit testing.

The current heavy workload in hospitals and laboratories results in lengthier lead times for analysis and outcomes. As a result, new entrants create a wide range of solutions to support smart hospitals, enhance productivity, and improve patient outcomes. Bedside analytics, medical imaging, and AI-powered inventory management technologies offer hospitals a platform to maximize productivity and the standard of healthcare delivery.

• For healthcare facilities, a start-up based in the United States, Truvian Sciences provides an on-site diagnostic platform. The start-up's device is portable and adaptable to many different analytes. In less than 20 minutes, the device analyses 5 drops of a patient's blood to reveal information on their liver function, kidney function, glucose levels, Hemoglobin A1C, and blood pressure, among other things.

Which Region is Set to Offer Lucrative Opportunities to Hematocrit Test Device Producers?

“North America Key Market Due to Presence of Advanced Healthcare Infrastructure”

• North America is leading the global market, holding 40% share in 2023.

The North American hematocrit tests market is driven by a well-established healthcare infrastructure, rising demand for highly developed blood collection devices, and growing adoption of preventive healthcare practices. The increasing prevalence of kidney and cardiovascular disorders and the high adoption of advanced diagnostic technologies are fueling market expansion. The presence of major players with extensive product portfolios is supporting market expansion.

Country-wise Insights

How is the Market for Hematocrit Tests Faring in the United States?

“Rapid Expansion of Medical Device Sector in the United States”

Rapid growth of the medical device sector and rising public awareness of early detection of chronic diseases are propelling the market. Market expansion is influenced by intensive hematology-related research and development efforts, favorable reimbursement policies, and rising blood disorder prevalence. Rising research spending by key market players on the development of hematocrit test devices is enhancing market development.

What is Prominently Driving Demand for Hematocrit Test Devices in China?

“Increasing Prevalence of Blood-related Diseases in Geriatric Population”

An increase in government investments in R&D, a rise in demand for blood testing devices, and the increasing prevalence of anemia in women are boosting market value in China. Because point-of-care hematocrit test devices can provide speedy results, they are becoming more popular in China.

The market in China is driven by factors such as the growing geriatric population who are more susceptible to blood-borne diseases and rising public awareness of the importance of early blood problem diagnosis. The hematocrit tests market is anticipated to grow rapidly due to the rapid expansion of the diagnostics sector and the high demand for medical device technologies.

Category-wise Insights

Which Hematocrit Test Product is Most Widely Utilized Across the World?

“Blood Cell Count Can Be Determined with High Precision & Accuracy with Hematocrit Test Analyzers”

Based on product, the market is divided into hematocrit test analyzers, hematocrit test meters, reagents & consumables, and others.

• Hematocrit test analyzers contribute 50% share of global revenues due to their increasing usage for various tests, such as reticulocyte analysis, coagulation test, and white blood cell count.

Using an analyzer-based hematocrit test, a doctor can determine how many red blood cells are present in the patient's blood. The test is sometimes referred to as an erythrocyte sedimentation rate or a full blood count.

The hematocrit test can be requested if the patient exhibits signs of anemia or other blood abnormalities. It is typically conducted as part of a routine physical examination. The test procedure is simple and quick. The patient’s arm will be used to extract a small sample of blood, which will then be sent to a lab for evaluation.

Competitive Landscape

In its recently published hematocrit test research report, Fact.MR, a market research and competitive intelligence provider, delves into the myriad dynamics shaping the market landscape. Top companies in hematocrit testing are focusing on new developments, product standards, quality control, and supply chain management. They are concentrating on diversifying their operations, expanding their product lines, cutting costs, increasing user satisfaction, and improving the dependability of hematocrit test devices.

For instance,

• In 2022, with reliable technology and a new level of usability, Sysmex Europe unveiled the XQ-320, a new three-part differential automated hematology analyzer that provides excellence in quality to a variety of clinical laboratory applications.

Key Segments of Hematocrit Test Industry Research

• By Product :

  • Hematocrit Test Analyzers
  • Hematocrit Test Meters
  • Reagents & Consumables
  • Others

• By Indication :

  • Anemia
  • Leukemia
  • Lymphoma
  • Congenital Heart Diseases
  • Kidney Tumor

• By End User :

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Others

• By Region :

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa