Global Automated Analyzers Market Set For 7.3% Growth, Reaching $6.64 Billion By 2028
Automated Analyzers Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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What Does the Historic Period Look Like for the Automated Analyzers Market?
The automated analyzers market size has seen substantial growth in recent years, growing from a notable $4.68 billion in 2023 to $5.02 billion in 2024 at a compound annual growth rate CAGR of 7.2%. This growth in the historic period can be attributed to the increasing awareness of preventive healthcare, a rise in the aging population, a growing demand for non-invasive diagnostic tests, the expansion of clinical research, and an uptick in drug development activities.
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What Is the Projected Automated Analyzers Market Size And How Will It Grow?
The automated analyzers market size is expected to continue its strong development in the coming years. It is projected to rise to a significant $6.64 billion in 2028 at a compound annual growth rate CAGR of 7.3%. This forecasted growth can be attributed to the expansion of veterinary diagnostics, a rising focus on reducing diagnostic errors, improving patient outcomes, the growth of telemedicine, and an increased application of remote monitoring. Major trends expected to shape the market during the projected period include the development of novel biomarkers, point-of-care diagnostics, home-based diagnostic devices, the miniaturization of diagnostic devices, and the development of multi-analyte testing platforms.
What Is Driving the Automated Analyzers Market Forward?
A predominant factor in propelling the growth of the automated analyzers market forward is the rising prevalence of chronic diseases. The increasing prevalence of chronic diseases is due in part to aging populations, unhealthy lifestyles, and increased urbanization globally. Automated analyzers play a critical role in managing chronic diseases by providing efficient and accurate diagnostic testing, enabling the early detection, monitoring, and treatment of conditions like diabetes, cardiovascular diseases, and kidney disorders.
By way of example, in June 2023, according to the report published by Kidney Research UK - a UK-based non-profit organization, approximately 7.2 million people in the UK were living with chronic kidney disease, representing over 10% of the population. Of these, 3.25 million were in the advanced stages of the disease, while an added 3.9 million were in the early stages. By 2033, the number of individuals affected by chronic kidney disease is projected to rise to a staggering 7.61 million. Therefore, the rise in the prevalence of chronic diseases is instrumental in driving the growth of the automated analyzers market.
Take a look at the full Automated Analyzers Global Market Report 2024: https://www.thebusinessresearchcompany.com/report/automated-analyzers-global-market-report
Who Are the Key Players in the Automated Analyzers Market?
The automated analyzers market is commanded by major industry players such as Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Honeywell International, Danaher Corporation, Siemens Healthineers AG, Becton, Dickinson, and Company, Tosoh Corporation, Agilent Technologies Inc., Grifols S.A., Xylem Inc., Hitachi High-Tech Corporation, Mindray, PerkinElmer Inc., bioMérieux SA, Sysmex Corporation, Bruker Corporation, Horiba Medical, Randox Laboratories Ltd., Nova Biomedical Corporation, and Trinity Biotech Plc.
What Are the Key Trends in the Automated Analyzers Market?
Major corporations operating in the automated analyzers market are focusing on developing innovative solutions like automated clinical chemistry analyzers to enhance efficiency, accuracy, and throughput in diagnostic laboratories. For instance, in January 2024, Beckman Coulter, a US-based manufacturing company, launched the DxC 500 AU Chemistry Analyzer, marking a significant advancement in automated clinical chemistry. This analyzer is designed to enhance the capabilities of satellite and independent community hospital labs greatly.
What Are the Market Segments in the Automated Analyzers Market?
The automated analyzers market is segmented as follows –
1 By Type: Biochemistry Analyzers, Immuno-Based Analyzers, Hematology Analyzers, Other Types
2 By Sample Type: Blood, Urine, Serum, Plasma, Other Sample Types
3 By Application: Drug Discovery, Genomics, Proteomics, Bio Analysis, Clinical Diagnostics, Other Applications
4 By End User: Hospitals And Clinics, Diagnostic Laboratories, Pharmaceutical And Biotechnology Companies, Other End Users
What Are the Regional Insights in the Automated Analyzers Market?
North America was the largest region in the automated analyzers market in 2023. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automated analyzers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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