The clinical chemistry market in Americas was valued at USD 4.4 billion in 2015 and is projected to grow at a CAGR of 3.9% from 2015 to 2021. The market is studied for its types such as reagents and devices, further dividing reagents into metabolites, enzymes, electrolytes, and others; and devices into semi-automatic devices and fully automatic devices consisting of entry level, medium throughput, high throughput and high throughput modular analyzers. The major tests considered in the study are basic metabolic panel, electrolyte panel, liver panel, lipid profile, renal profile, thyroid function panel and specialty chemicals.
The market for end users is analyzed for hospitals, diagnostic laboratories, academic institutes, and others such as blood banks, cancer research centers, military hospitals etc. The American clinical chemistry market is analyzed for North America consisting of the U.S., Canada, Mexico; and Lain America consisting of Brazil, Chile, rest of Latin America including Argentina, Columbia among others.
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Major drivers and restraints of the market
The market is driven by growing healthcare reforms and infrastructure in developing states and increasingly managed healthcare organizations in the developed states. Rising occurrences of chronic diseases along with growing aging population, demands more clinical chemistry analyzer devices to conduct multiple tests for accurate diagnosis. Also, increasing medical insurance in the U.S. is one of the prime drivers for the growth of clinical chemistry analyzers market in Americas. The market growth is restrained mainly due to tough government regulations on the use of devices and reagents in developed regions and high initial cost of clinical chemistry analyzing devices and reagents.
Reagents and Consumables segment accounts for the largest market share
Among the types of clinical chemistry analyzers, the market for reagents and consumables is higher than devices. Among the reagents, metabolites are used on a larger scale followed by enzyme and electrolytes. Reagents and consumables are the most important fundamental compounds used in clinical laboratories to generate the necessary tests required for ensuring accurate diagnosis and determination of treatment to be given to the patient.
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Diagnostic laboratories projected to be the fastest growing market
The end users considered in the clinical chemistry market are hospitals, diagnostic laboratories, academic institutions, and others such as blood banks, cancer research centers. The hospitals segment dominated the market in 2015 followed by diagnostic laboratories and academic institutions. The market for diagnostic laboratories is projected to be the fastest growing market due to their efficient working style, fast processing and wide array of testing.
Well-established healthcare, continuous advancement in reagents and devices and rising ageing population demanding high diagnostic tests led to the growth of American region.
North America dominated the market with the largest market share followed by Latin America. U.S. and Canada have the largest market share in the country-level market in North America region. The leading players in this industry include Abbott Laboratories, Roche, Beckman Coulter (subsidiary of Danaher), Thermo Fisher Scientific Inc. among others. These companies have established their position in the market by offering competent products.
Other Reports from Axiom MRC.
The U.S. Clinical Chemistry Analyzers Market Research Report, By Type, By Test and By End Users – Market trends, market share, Industry analysis and Forecast 2014 – 2021
Global Clinical Chemistry Analyzers Market Research Report, By Type, By Test, By End Users and Geography – Market trends, market share, Industry analysis and Forecast 2014 – 2021
European Clinical Chemistry Analyzers Market Research Report, By Type, By Test and By End Users – Market trends, market share, Industry analysis and Forecast 2014 – 2021
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