Clinical Chemistry Analyzers Market Analysis and Forecast till 2031: By Product (Reagents, Analyzers, Others), Test Type (Basic Metabolic Panels, Liver Panels, Renal Panels, Lipid Profiles, Thyroid Function Panels, Electrolyte Panels, Specialty Chemical T

Clinical Chemistry Analyzers Market Analysis and Forecast till 2031: By Product (Reagents, Analyzers, Others), Test Type (Basic Metabolic Panels, Liver Panels, Renal Panels, Lipid Profiles, Thyroid Function Panels, Electrolyte Panels, Specialty Chemical Tests), End User (Hospitals & Clinics, Diagnostic Laboratories, Research Laboratories, Research Laboratories & Institutes, Others), and Region

The global clinical chemistry analyzers market was valued at USD 12.6 billion in 2021 and it is anticipated to grow at 4.2% CAGR during the forecast period to reach up to USD 19.7 billion by 2031.

Clinical chemistry analyzers are used to calculate the concentration of certain electrolytes, metabolites, and drugs in serum, cerebrospinal fluid, and other body fluids among others. It creates an accurate result within the lease period and is planned for extremely advanced technology. It is used to validate health conditions like nutritional status, liver functions, and kidney functions among others. Different types of tests such as lipid profile, liver panel, and a renal panel comprising therapeutic drugs are used to enhance metabolic functions. Rising demand for clinical tests and the increasing prevalence of endocrine diseases are the major factors driving the growth of the market.

Global Clinical Chemistry Analyzers Market Scope and Report Structure

Market Trends and Drivers

The key factor propelling the growth of the market is the rising geriatric population coupled with the increasing prevalence of chronic and lifestyle diseases. The increasing geriatric population in developed and developing regions will positively influence the growth of the clinical chemistry analyzers market. Owing to rapid growth in the elderly population, the prevalence of age-associated diseases like hypertension, diabetes, cardiovascular, liver, and kidney diseases are anticipated to increase significantly. The diagnosis and management of such diseases are responsible for the rising number of prescriptions for tests like basic metabolic panel, lipid profile, and liver & renal panel. The growth in chronic illnesses will increase the demand for tests prescribed for the prevention, diagnosis, and treatment of the same. These factors, alongside the growing trend for preventive medicine, is expected to drive the demand for clinical chemistry analyzers during the projection period. These tests are performed by clinical chemistry analyzers; so, it is expected to have a positive impact on this market.

Market Restraints and Challenges

The major factor hindering the growth of the market is the requirement of high capital investment and a shortage of skilled laboratory technicians. The high-volume clinical chemistry analyzers may be affordable only for large hospitals and reference laboratories with high capital budgets. Most small laboratories, physician’s offices, and sole practitioners have no capital budgets and may not be able to afford a large or very large-sized analyzer. So, the high fixed-cost requirements limit the growth of the clinical chemistry analyzers market.

Currently, there is a significant shortage of laboratory technicians in both developed and developing nations. This is primarily attributed to the increasing patient population base, the retirement of elderly technicians, and the rising number of cash-strapped colleges closing their clinical lab programs. So, there is a gap between the supply and demand of pathologists and lab technicians worldwide, therefore expecting to restrain the market growth.

Global Clinical Chemistry Analyzers Market Segmentation

The report analyses the global clinical chemistry analyzers market based on product, test type, end user, and region.

Global Clinical Chemistry Analyzers Market by Product

Based on product, it is segmented into reagents, analyzers, and other products. The reagents segment is likely to dominate the market during the forecast period. The recurrent requirement of reagents in large numbers as compared to analyzers is the primary factor boosting the growth of this segment.

Global Clinical Chemistry Analyzers Market by Test Type

Based on test type, it is segmented into basic metabolic panels, liver panels, renal panels, lipid profiles, thyroid function panels, electrolyte panels, and specialty chemical tests. The basic metabolic panel tests segment accounted for the largest share during the forecast period. This can be attributed to the increasing incidence of diabetes and other lifestyle and chronic diseases and the increasing trend of preventive healthcare.

Global Clinical Chemistry Analyzers Market by End User

Based on end user, it is segmented into hospitals & clinics, diagnostic laboratories, research laboratories & institutes, and others. The hospitals & clinics segment is likely to dominate the market during the forecast period. The key factors such as growing adoption of point of care testing devices coupled with increasing demand for laboratory automation is propelling the market growth.

Geographical Analysis of Global Clinical Chemistry Analyzers Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the global clinical chemistry analyzers market. The growth is primarily attributed to the increasing geriatric population coupled with the increasing prevalence of chronic and lifestyle conditions, implementation of favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure, and the availability of technologically advanced instruments.

Major Players in Global Clinical Chemistry Analyzers Market

COVID-19 Impact

COVID-19 is an infectious disease caused by the most recently discovered novel coronavirus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks. The COVID-19 pandemic negatively affected the sales of the companies. Lockdowns resulting from the COVID-19 pandemic caused people to delay undergoing health checkups, thus affecting the number of tests being performed and sales of reagents. Conversely, a resurgence in testing numbers is seen as countries gradually ease restrictions on movement. With the COVID-19 pandemic, responding to infectious diseases has become a pressing medical issue across the globe. Additionally, with the development of vaccines and therapeutic drugs, there is a growing call for the development of more precise and simple testing technologies and the expansion of testing structures. COVID-19 has also impacted the regulatory environment and practices, as governments and healthcare providers face unprecedented challenges. Regulatory authorities utilized methods to speed approval of diagnostic products. Companies have taken strategic developments to introduce COVID-19 rapid tests, sustain their revenues, and nullify the impact of COVID-19 on their operational capabilities.

Recent Development

• January 2020, Sysmex invested in Astrego Diagnostics for the development of urinalysis solutions.
• July 2019, Trivitron Healthcare introduced the 'Nanolab 200,' a fully automated chemistry analyzer. The new product is an automated benchtop chemistry analyzer with a throughput of approximately 200 tests per hour. The newly launched product, which is integrated with cutting-edge liquid level detection technology, is anticipated to improve efficiency levels in clinical laboratories.
• December 2018, BIOBASE Group launched BK200 mini auto chemistry analyzer for small laboratories and clinics to meet the needs of its customers.
• November 2017, Roche Diagnostics acquired Viewics (US) to expand its leading position in the integrated core lab space with business analytics capabilities.

Frequently Asked QuestionsQ. How big is the clinical chemistry analyzers market?Ans. The global clinical chemistry analyzers market size was USD 12.6 Billion in 2021 and is anticipated to reach USD 19.7 Billion in 2031, growing at a rate of 4.2% from 2022 to 2031.Q. What is the clinical chemistry analyzers market growth rate?Ans. The growth rate of the clinical chemistry analyzers market is 4.2% from 2022 to 2031.Q. Which region holds a major market share for the clinical chemistry analyzers market?Ans. North America holds a major market share of the clinical chemistry analyzers market in 2021.Q. Which segment accounted for the largest clinical chemistry analyzers market share?Ans. By product, the reagents segment accounted for the largest clinical chemistry analyzers market share.Q. Who are the key players in the clinical chemistry analyzers market?Ans. The global clinical chemistry analyzers market report includes players such as F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), Siemens AG (Germany), HORIBA Ltd. (Japan), Sysmex Corporation (Japan), HITACHI (Japan), EKF Diagnostics (UK), Ortho Clinical Diagnostics (US), ELITech Group (France), Mindray Medical International Ltd. (China), BIOBASE Group (China), SFRI Medical Diagnostics (France), Trivitron Healthcare Pvt. Ltd. (India), Randox Laboratories Ltd. (UK), Medica Corporation (US), Meril Life Sciences Pvt. Ltd. (India), Erba Mannheim (UK), Genrui Biotech Inc. (China), DIRUI Industrial Co. Ltd. (China), Teco Diagnostics (US), Balio Diagnostics (France), Snibe Co. Ltd. (China), and AMS Alliance (Italy).Q. What are the factors driving the clinical chemistry analyzers market growth?Ans. The major factors driving the growth of the market are the increasing geriatric populations.Q. What are the key growth strategies of clinical chemistry analyzers market players?Ans. The key growth strategies of clinical chemistry analyzers market players are product launch and product approval.Q. Which egion will provide more business opportunities for the clinical chemistry analyzers market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the clinical chemistry analyzers market during the forecast period.

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