Biochemistry analyzers are used
research purposes and for diagnosis of various diseases. It is also used in
analysis of many cellular processes and to determine the structure of a
biomolecules. There are two types of biochemistry analyzers depending on
modality: bench-top and floor-standing. It is used in clinical diagnostics,
bioreactor byproduct detection, and drug development applications.
The global Biochemistry
Analyzers Market is estimated to account for US$ 3,716.8 Mn in terms of
value in 2020 and is expected to reach US$ 5,429.5 Mn by the end of 2027.
Global Biochemistry Analyzers
Market: Drivers
Increasing number of clinical
trials is expected to propel growth of the global biochemistry analyzers market
over the forecast period. For instance, according to the U.S. National Library
of Medicine, the number of clinical trials conducted in the U.S. increased from
30,978 in 2018 to 32,523 in 2019.
Global Biochemistry Analyzers
Market: Opportunities
Increasing prevalence of pandemic
diseases is expected to boost demand for biochemistry analyzers. For instance,
in April 2020, the government of Haiti requested China medical inputs of US$ 18
million, which included 2.5 million gloves, 300,000 sterilized gowns, 10
biochemistry automatic analyzers, 100 ventilators and accessories, and 1,500
hospital beds, for the treatment of COVID-19.
Global Biochemistry Analyzers
Market: Restraints
Presence of several laws regulation
diagnostic labs in developed economies is expected to limit growth of the
market. In the U.S., there are following laws:
Laboratory Accreditation:
Internal Quality Control (IQC)
The Internal Quality Control
measurement is the final check of the implementation of all the analytical
procedures as prescribed in the protocol as well as other quality assurance
measurements
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Laboratory Accreditation:
External Quality Assessment Scheme (EQAS)
External Quality Assessment for
medical laboratories is also known by the name proficiency testing for clinical
laboratories and clinical pathology. The use of External Quality Assessment is
widely used outside the clinical laboratories for point-of-care testing
The Clinical and Laboratory
Standards Institute (CLSI) Guidelines
The Clinical and Laboratory
Standards Institute creates voluntary standards and guidelines in respect to
the clinical and laboratory testing used within the medical testing and
healthcare communities. The standards are accredited by the American National Standards
Institute (ANSI)
Key Takeaways:
The global biochemistry analyzers
market was valued at US$ 3,520.5 Mn in 2019 and is forecast to reach a value of
US$ 5,429.5 Mn by 2027 at a CAGR of 5.6% between 2020 and 2027. Increasing
number of drug development activities, and increasing prevalence of chronic
disorders is expected to aid in growth of the market.
Fully automated biochemistry
analyzers held dominant position in the global biochemistry analyzers market in
2019, accounting for 85.6% share in terms of value, followed by Semi automated
biochemistry analyzers, respectively. Fully automated biochemistry analyzers do
not require constant manual attention, and they can perform tasks
automatically.
Clinical diagnostics segment held
dominant position in the global biochemistry analyzers market in 2019,
accounting for 82.8% share in terms of value, followed by drug development
applications and others, respectively. Increasing prevalence of metabolic
diseases, and other chronic diseases is expected to support growth of the segment
over the forecast period.
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Market Trends
Major players in the market are
focused on launching products for mid-volume laboratories. For instance, in
October 2019, Beckman Coulter launched its new DxH 690T hematology analyzer for
mid-volume laboratories.
Major players in the market are
also focused on adopting collaboration and partnership strategies to enhance
their market share. For instance, in October 2019, Abbott Laboratories
partnered with Australian Red Cross Blood Service for its blood and plasma
screening technology, Alinity s System.
Global Biochemistry Analyzers Market:
Competitive Landscape
Major players operating in the
global biochemistry analyzers market include, Roche Diagnostics GmbH, Siemens
AG, Beckman Coulter Inc., Abbott Diagnostics Inc., Shenzhen Mindray Bio-Medical
Electronics Co., Ltd., Hologic, Inc.,
Randox Laboratories Ltd., Awareness Technology, Inc., Transasia
Biomedicals Ltd., and Nova Biomedical Corp.
Global Biochemistry Analyzers
Market: Key Developments
November 2019: Mindray
Bio-Medical Electronics Co., Ltd. demonstrated its product portfolio at MEDICA
2019
September 2019: Randox
Laboratories launched a new online store with exclusive offers and discounts
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