HOME Research Insight Emerging Countries such as China, Brazil, and India unfolds new avenues for players involved in hematology market

Emerging Countries such as China, Brazil, and India unfolds new avenues for players involved in hematology market

Over the last two decades, the hematology analyzers and reagents have witnessed significant innovations that are transforming the practice of hematology testing throughout the world. North America and a major part of the Western European region are saturated markets for hematology products. However, the developing regions such as Asia-Pacific (China and India), Latin America, and the Middle East are expected to form the new revenue pockets for this market.

The hematology analyzers and reagents market in these emerging regions is primarily driven by various economic developments. Moreover, the presence of a large patient population, increasing funding/investment toward the development of hematology products, growing focus of both international and domestic players on the Asia-Pacific hematology market, and a large number of R&D activities is the key factors fueling the growth of the hematology market in these regions.

Moreover, these regions provide favorable conditions for the growth of market players and have a high demand of heamtology products. As a result of this, a number of players in the hematology market are investing in emerging economies. For instance, in September 2012, HORIBA commenced the construction of reagent manufacturing plant in India with a total investment of about $2 million (200 million yen). This plant has an annual production capacity of around 2,000 tons. This enabled the company to develop new products to address the huge demand of hematology reagents in Asia. Likewise, in October 2012, Mindray acquired a controlling stake in Beijing Precil Instrument Co., Ltd. (China) through an equity transfer agreement. As per the terms of the agreement, the company gained access to its Precilís research and development (R&D), manufacturing, sales and services capabilities. Precilís thrombotic and hemostatic products complemented the companyís in-vitro diagnostic products in hematology, biochemistry, urine, and microbiology analysis. This helped Mindray to provide better solutions to its customers.

Driven by high growth potential of hematology market in emerging economies, various domestic and international players are increasingly focusing on the launch of technologically advanced products in this region. For instance, in June 2013, Sysmex developed a new flag*1 technology for products in the hematology field in South Asia. It utilizes the white blood cell analysis technology employed in the XN-Series and XS-Series Automated Hematology Analyzers, by using flags to show when blood cells change shape, which primarily occurs during P. vivax and P. malariae infection. Similarly, in March 2010, HORIBA Medical launched new hematology analyzer called ABX Micros ES60 in Brazil. It is sleek, compact, and next generation of the ABX Micros that contains all the functions needed to manage results securely and easily at point of care clinics, laboratories, and emergency services. Thus, increasing focus of both domestic and international players on the developing countries is expected to fuel the growth of hematology market in these regions.

Related Reports:

Hematology Analyzers & Reagents Market by Products (3-& 5- part hematology Analyzers, Point-of-Care, & Fully Automated), Consumables (Reagents & Stains), End Users (Research Institute, Hospital, & Clinical Testing Labs) - Global Forecasts to 2019

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