Northbrook, IL 60062 -- (SBWire) -- 01/17/2023 --The Global "Clinical Chemistry Analyzers Market by Product (Fully-Automated Analyzers, PoC Analyzers, Reagents), Test Type (Basic Metabolic, Liver, Renal, Lipid, Thyroid Function), End User (Hospitals, Clinics, Laboratories, Research) – Global Forecast to 2026", published by MarketsandMarkets™, the global Clinical Chemistry Analyzers Market size is projected to reach USD 15.2 billion by 2026 from USD 12.3 billion in 2021, at a 4.3% CAGR.
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The rising geriatric population and the increasing prevalence of chronic & lifestyle diseases, growing adoption of Point-of-Care testing devices and rising demand for laboratory automation drives growth in the Clinical Chemistry Analyzers Market. Emerging economies such as China and Japan are providing lucrative opportunities for the players operating in the market.
F. Hoffmann-La Roche Ltd. accounted for the largest share of the clinical chemistry analyzers market in 2020. The company's leading position in the clinical chemistry analyzers market is attributed to its wide product portfolio. Under its flagship brand- cobas- the company offers a wide variety analyzers and reagents that are widely used by end users across the globe. The company also has a wide geographic presence, spanning North America, Europe, the Middle East and Africa, and Asia. This enables the company to cater to customers across the globe. Roche Diagnostics mainly focuses on product launches and strategic partnerships & collaborations to maintain its leading position in the market.
In 2020, Danaher Corporation accounted for the second-largest share of the clinical chemistry analyzers market. The company geographically operates in Europe, North America, and the Asia Pacific and has 242 manufacturing and distribution facilities worldwide. Danaher operates in the in vitro diagnostics market through its subsidiary, namely, Beckman Coulter Inc. (US). The company's focus on product development and launches helps it to maintain its market position. Growth through strategic acquisitions could also help the company expand its product portfolio and market presence.
Abbott Laboratories accounted for the third largest share of the clinical chemistry analyzers market. The company secured its one of the leading position in the market, mainly due to the acquisition of Alere Inc. (US) in 2017. With the completion of this acquisition, Abbott has strengthened its diagnostics portfolio and established itself as the leading player in the point-of-care testing market. Abbott has a strong presence in the US and seeks to further enhance its geographical presence by strenghthening its business operations in emerging high-growth markets. The company has a strong product portfolio which have helped it to maintain and enhance its presence in the clinical chemistry analyzers market.
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North America is the largest regional market for Clinical Chemistry Analyzers Market
The Clinical Chemistry Analyzers Market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the market. The large share of this region can be attributed to the increasing geriatric population, increasing prevalence of chronic & lifestyle conditions, implementation of favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure, and the availability of technologically advanced instruments.
Key Market Player
The major players operating in this market are 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).
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Clinical Chemistry Analyzers Market Worth $15.2 Billion, Industry Growth and Development, Business Analysis by 2026
In January 2020, Sysmex invested in Astrego Diagnostics for the development of urinalysis solutions.