Hematology is a branch of medical science concerned with diagnosis, treatment and study of blood and disorders related to blood. It includes the treatment of blood disorders such as leukemia, malignancies and types of hemophilia, sickle-cell anemia and lymphoma. There are four major areas of study within hematology which include hematological malignancies, hemoglobinopathy, coagulopathy, and anemia.
The global hematology market size is valued at US$ 4537.5 million in 2019, and is expected to exhibit a CAGR of 7.80% over the forecast period (2019–2027).
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Increasing incidence of blood related disorders is expected to propel the growth of the global hematology market
Rising incidence of blood cancer is a major factor contributing to growth of the market. For instance, according to GLOBOCAN 2018, more than 1.85 million new blood cancer cases are expected to be diagnosed in 2040 across the globe.
Furthermore, according to the American Cancer Society, Non Hodgkin lymphoma is one of the more common types of cancer in the U.S., accounting for 4% of all cancer cases. An estimated 74,680 patients were diagnosed with Non Hodgkin lymphoma in the U.S. in 2018.
Moreover, increasing incidence of hemophilia and sickle-cell anemia is expected to drive growth of the global hematology market. For instance, according to the World Federation of Hemophilia’s (WFH) 2018 statistics, around 440,000 people had hemophilia, out of which around 173,000 people were diagnosed with hemophilia A or B in 2017 globally.
Furthermore, as per the World Health Organization, in 2018, the prevalence of anemia in children was around 45%, and 12% in men, and it is increasing rapidly all over the world.  Similarly, According to the National Institute of Health (NIH), anemia affects 30% of women in the reproductive age and 40% of pregnant women, globally.
Stringent regulatory and reimbursement policies on product launches, as well as product recalls due to safety violation are projected to hamper growth of the market over the forecast period.
For instance, in April 2017, Sysmex, a Japanese medical devices company recalled 3,682 XN Series Automated Hematology Analyzers, owing to increases in incidences of fire caused due to improper alignment of an internal protective sheet that protects electronic components from salty reagents used in hematological sample analysis
Increasing number of product launches is expected to propel the market growth over the forecast period
New product launches by key players operating in global market are expected to propel growth of the global hematology market. For instance, in May 2018, Beckman Coulter, a Danaher Corporation company that develops, manufactures and markets products that simplify, automate and innovate complex biomedical testing, launched the DxH 900 hematology analyzer which performs complete blood count and white blood cell differential tests with minimal repeats for application in mid-to high-volume clinical laboratories.
In February 2018, Horiba, a Japanese manufacturer of precision instruments for measurement and analysis, launched Yumizen G range of semi-automatic to fully automatic hemostasis solutions for clinical testing.
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Moreover, increasing adoption of certifications for quality enhancement by key players operating in the global hematology market is expected to propel the market growth over the forecast period. In November 2017, Sysmex received CLIA Waiver certification under the U.S. regulatory approval system for the XW-100 automated hematology analyzer. It is the latest product in the hematology field targeting the U.S. market.
Key Players
Major players operating in the global hematology market include Abbott Laboratories, Sysmex Co., Beckman Coulter, Horiba, Ltd., Boule Diagnostics AB, Mind ray Medical International Limited, Siemens Healthcare, Roche Diagnostics, Bio Rad laboratories, Sigma Aldrich Co., Nihon Kohden Corporation.
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