Biochemistry analyzers are usedresearch purposes and for diagnosis of various diseases. It is also used inanalysis of many cellular processes and to determine the structure of abiomolecules. There are two types of biochemistry analyzers depending onmodality: bench-top and floor-standing. It is used in clinical diagnostics,bioreactor byproduct detection, and drug development applications.
The global BiochemistryAnalyzers Market is estimated to account for US$ 3,716.8 Mn in terms ofvalue in 2020 and is expected to reach US$ 5,429.5 Mn by the end of 2027.
Global Biochemistry AnalyzersMarket: Drivers
Increasing number of clinicaltrials is expected to propel growth of the global biochemistry analyzers marketover the forecast period. For instance, according to the U.S. National Libraryof Medicine, the number of clinical trials conducted in the U.S. increased from30,978 in 2018 to 32,523 in 2019.
Global Biochemistry AnalyzersMarket: Opportunities
Increasing prevalence of pandemicdiseases is expected to boost demand for biochemistry analyzers. For instance,in April 2020, the government of Haiti requested China medical inputs of US$ 18million, which included 2.5 million gloves, 300,000 sterilized gowns, 10biochemistry automatic analyzers, 100 ventilators and accessories, and 1,500hospital beds, for the treatment of COVID-19.
Global Biochemistry AnalyzersMarket: Restraints
Presence of several laws regulationdiagnostic labs in developed economies is expected to limit growth of themarket. In the U.S., there are following laws:
Laboratory Accreditation:Internal Quality Control (IQC)
The Internal Quality Controlmeasurement is the final check of the implementation of all the analyticalprocedures as prescribed in the protocol as well as other quality assurancemeasurements
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Laboratory Accreditation:External Quality Assessment Scheme (EQAS)
External Quality Assessment formedical laboratories is also known by the name proficiency testing for clinicallaboratories and clinical pathology. The use of External Quality Assessment iswidely used outside the clinical laboratories for point-of-care testing
The Clinical and LaboratoryStandards Institute (CLSI) Guidelines
The Clinical and LaboratoryStandards Institute creates voluntary standards and guidelines in respect tothe clinical and laboratory testing used within the medical testing andhealthcare communities. The standards are accredited by the American National StandardsInstitute (ANSI)
Key Takeaways:
The global biochemistry analyzersmarket was valued at US$ 3,520.5 Mn in 2019 and is forecast to reach a value ofUS$ 5,429.5 Mn by 2027 at a CAGR of 5.6% between 2020 and 2027. Increasingnumber of drug development activities, and increasing prevalence of chronicdisorders is expected to aid in growth of the market.
Fully automated biochemistryanalyzers held dominant position in the global biochemistry analyzers market in2019, accounting for 85.6% share in terms of value, followed by Semi automatedbiochemistry analyzers, respectively. Fully automated biochemistry analyzers donot require constant manual attention, and they can perform tasksautomatically.
Clinical diagnostics segment helddominant position in the global biochemistry analyzers market in 2019,accounting for 82.8% share in terms of value, followed by drug developmentapplications and others, respectively. Increasing prevalence of metabolicdiseases, and other chronic diseases is expected to support growth of the segmentover the forecast period.
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Market Trends
Major players in the market arefocused on launching products for mid-volume laboratories. For instance, inOctober 2019, Beckman Coulter launched its new DxH 690T hematology analyzer formid-volume laboratories.
Major players in the market arealso focused on adopting collaboration and partnership strategies to enhancetheir market share. For instance, in October 2019, Abbott Laboratoriespartnered with Australian Red Cross Blood Service for its blood and plasmascreening technology, Alinity s System.
Global Biochemistry Analyzers Market:Competitive Landscape
Major players operating in theglobal biochemistry analyzers market include, Roche Diagnostics GmbH, SiemensAG, Beckman Coulter Inc., Abbott Diagnostics Inc., Shenzhen Mindray Bio-MedicalElectronics Co., Ltd., Hologic, Inc., Randox Laboratories Ltd., Awareness Technology, Inc., TransasiaBiomedicals Ltd., and Nova Biomedical Corp.
Global Biochemistry AnalyzersMarket: Key Developments
November 2019: MindrayBio-Medical Electronics Co., Ltd. demonstrated its product portfolio at MEDICA2019
September 2019: RandoxLaboratories launched a new online store with exclusive offers and discounts
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