June 02, 2021 06:19 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, June 02, 2021 (GLOBE NEWSWIRE) -- The global clinical chemistry market size is likely to gain impetus from the increasing incidences of infectious diseases worldwide. Fortune Business Insights describes the growth trajectories of the market in details in their report titled, “Clinical Chemistry Market Size, Share and Global Trend By Product Type (Analyzers, Reagents & Consumables), By Application (General Chemistry Test, Liver Function Test, Kidney Function Test, Urinalysis, Electrolyte Panel, Lipid Profile, Specialty Chemical Test, Others), By End User (Hospitals, Diagnostic/Pathology Centers, Ambulatory Surgery Centers (ASC), Others), and Geography Forecast till 2026.”
According to current clinical chemistry market trends, the analyzers segment holds the maximum Clinical Chemistry market share in terms of product. This is attributable to the fact that analyzers are amongst the first line products utilized for conducting the majority of clinical chemistry tests.
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Rising Prevalence of Chronic Diseases to Drive Market
The increasing prevalence of acute, chronic, and infectious diseases are boosting the clinical chemistry market growth. In addition to this, the rising demand for accurate and quick diagnostic procedures is also expected to help increase the clinical chemistry market revenue in the forecast period. Additionally, a sedentary lifestyle, unhealthy eating, and drinking habits are also anticipated to help increase the clinical chemistry market size in the coming years.
Moreover, the rise in disposable incomes of people and the adoption of diagnostic procedures that are technologically advanced are expected to help the market gain high momentum in the forecast period.
On the flip side, factors such as lack of skilled professionals for conducting clinical chemistry tests may hamper the overall clinical chemistry market size. This, coupled with the high cost of clinical chemistry tests, may restrict clinical chemistry market growth in the developing markets.
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Asia Pacific to Emerge as Fastest Growing Region on Account of Rapidly Developing Healthcare infrastructure
Geographically, North America is holding the dominant clinical chemistry market share on account of the presence of well-established healthcare infrastructure and facilities in the region. Also, government-supported initiatives and reimbursement facilities will further help this region continue dominance in the coming years as well.
The market in Europe is anticipated to witness significant growth on account of rising healthcare infrastructures and increasing prevalence of diseases such as cardiovascular disorders, high blood pressure and diabetes, lung disease, and others. Furthermore, the market in Asia Pacific is anticipated to witness the highest growth opportunity on account of the fastest emerging markets in nations such as China, Japan, and India and the rapid development of healthcare infrastructure in these nations.
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Launch of Clinical Chemistry Products to Intensify Market Competition
Clinical chemistry market manufacturers are emphasizing on attaining CE marks and product launches for obtaining a strong foothold in the competition. Therefore, the competition is not only intense but also beneficial for the overall chemistry market revenue in the forecast period.
Some of the latest industry developments in the clinical chemistry market include:
July 2015 – One of the largest clinical chemistry reagent companies, Sekisui Diagnostics, announced the launch of its SEKURE brand of clinical chemistry reagents.
January 2017 – For their ALINITY CI-SERIES DIAGNOSTIC SYSTEMS, Abbott declared the obtaining of the CE Mark (Certification Mark) for immunoassay and clinical chemistry diagnostics. Abbott also announced the obtaining of the CE market for its Alinity system used for plasma and blood screening.
January 2019 – COBAS PRO, an integrated solution in Serum Work Area, was launched by Hofmann-La-Roche Ltd in Serum Area. This is considered a significant milestone in laboratory diagnostic capable of 2,200 tests on an hourly basis.
February 2019 – Fujifilm Corporation and JEOL entered into a strategic collaboration for the clinical chemistry analyzer business overseas.
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Some of the key clinical chemistry market manufacturers include:
Segmentation of the Global Clinical Chemistry Market
• General Chemistry Test (Basic metabolites panel)
• North America (U.S and Canada)
• Europe (UK, Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
• Latin America (Brazil, Mexico, and Rest of Latin America)
• Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)
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