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Emerging Nations Key to Hematology Testing Growth: Kalorama Report
  • USA - English


News provided by

Kalorama Information

Dec 16, 2013, 22:05 ET

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New York , NY (PRWEB) December 16, 2013 -- The recent softness of laboratory hematology markets in North America and Europe obscured an otherwise unprecedented period of global market development, according to Kalorama Information. The IVD market research publisher identifies rising demand for clinical hematology testing in China and the greater Asia-Pacific region to be the most significant market factor over the past five years. Kalorama Information reviewed Asia-Pacific market dynamics as part of its recently published report, “The World Market for Hematology.”

Rising instrument placements in the Asia-Pacific and baseline demographic drivers worldwide ensured global hematology market growth of roughly 4% annually between 2009 and 2013.

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“The expectations for the hematology market were admittedly a little low in terms of growth, especially relative to some other more dynamic IVD [in vitro diagnostics] segments,” explained Emil Salazar, analyst at Kalorama Information and author of the report. “But during research, there were various sources indicating robust market development in China, Southeast Asia – also appreciable revenue growth in Japan and India.”

Underwriting the gains of several leading hematology vendors in the Asia-Pacific market has been the expansion of installed instrument or hematology analyzer bases in the region. Heading into 2013, total market revenue for hematology analyzer instruments in the Asia-Pacific had averaged approximately 15% growth since 2009.

“While lab managers elsewhere are struggling with the uncertainty of the ACA and how austerity is going to determine future European testing, investment in the Asia-Pacific market has progressed with significant public and private capital infusions,” Salazar noted. “In China, healthcare infrastructure development was a major component of the country’s recent reform and public insurance expansion. Many other countries in the region are pursuing fundamental healthcare system development, including making core lab tests such as blood counts more available.”

A key strength of the hematology market is its relative lack of discretionary clinical tests, or overt targets for cuts under laboratory fee schedules. In challenged hematology markets such as the United States and Western Europe, there have been no noticeable dips in regional hematology testing volumes. Rather, testing volumes in most countries continue to grow consistently and at a low to moderate rate due to aging populations and overall growth in patient populations. Improved insurance availability and accessibility to care and testing services have likewise boosted testing volumes in the Asia-Pacific and other predominately developing regions. Absent any growth in annual instrument placements, regional hematology markets can still grow through gradually rising consumables sales (incl. reagents, controls, calibrators) and vendor service revenue.

Rising instrument placements in the Asia-Pacific and baseline demographic drivers worldwide ensured global hematology market growth of roughly 4% annually between 2009 and 2013. “While other areas of market growth and opportunity exist [in hematology testing], the global market has sustained 4% growth only through the Asia-Pacific,” Salazar said. “Even in more discretionary, high-end hematology product markets, such as digital cell imaging, the Asia-Pacific is approaching Europe and North America as a destination.”

Kalorama Information’s “The World Market for Hematology” covers the market for IVD hematology testing products. The report details and segments the market by region, key country, product segment, and competitor share by region and product. The report can be found at: http://www.kaloramainformation.com/Hematology-7899833/.

About Kalorama Information
Kalorama Information, a division of MarketResearch.com, supplies the latest in independent medical market research in diagnostics, biotech, pharmaceuticals, medical devices and healthcare; as well as a full range of custom research services. We routinely assist the media with healthcare topics. Follow us on Twitter, LinkedIn and our blog.

Bruce Carlson, Kalorama Information, http://www.kaloramainformation.com/Hematology-7899833/, (212) 807-2622, [email protected]

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