Global biochemistry analyzer market forecast

According to the biochemistry analyzer industry anlaysis, research analysts at Technavio predict that the global biochemistry analyzer market will grow steadily during the next four years and post a CAGR of over 6% by 2021. This market research analysis identifies the increase in laboratory automation as one of the primary growth factors for this market. Laboratory automation results in greater improvement in productivity with safer working conditions, reduced operational cost, and reduction in labor force. Additionally, automation enables the effectiveness in the identification of samples, easy storage of data, less component consumption and sample volume, reduction, less occupied laboratory space and reduction in turnaround time.

One of the latest biochemistry analyzer market trends that will gain traction in the coming years is the modular design of biochemistry analyzer. The modular automatic analyzer has features like filter selection, sample handling, and auto-calibration through the micro-controller. Automation of sample handling allows dealing with several blood samples at a time thus, saving time. Additionally, modular automatic analyzer is controlled through a laptop or a PC with minimal human assistance and keeps up with the latest technology advancements.

Competitive landscape and key vendors

Due to the presence of a presence of diverse regional and international vendors, this market appears to be competitive. Due to huge growth opportunities and many new players entering the market, several strategies are undertaken by the key vendors for the marketing and manufacturing of biochemistry analyzers. Additionally, key players who have high spending capacity and increasing disposable income countries are enhancing the market growth. This competitive environment is further expected to intensify with the increase in product innovations, product/service extensions, and M&A during the forecast period.

The leading vendors in the market are -

• Abbott
• Danaher
• Roche Diagnostics
• Siemens

The other prominent vendors in the market includes Abaxis, Adaltis, ELITech Group, Hitachi High-Technologies, Hologic, HORIBA, Mindray Medical International, Randox Laboratories, Rayto Life and Analytical Sciences, and Thermo Fisher Scientific.

Segmentation by end-user and analysis of the biochemistry analyzer market

• Hospital and diagnostic laboratories
• Home care, and academic
• Research institutes

During 2016, the hospital and diagnostic laboratories segment accounted for the major shares and dominated this market. The laboratories offer a wide range of solutions, from basic educational and consultative support to high-end diagnostic testing. Factors such as the early diagnosis of diseases, allowing apt and swift intervention, thereby reducing the overall disease burden will contribute to the growth of this industry segment in the coming years.

Geographical segmentation and analysis of the biochemistry analyzer market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The biochemistry analyzer market in this region is witnessing substantial growth, mainly due to the growing population, as well as, the high prevalence of chronic and infectious diseases. Additionally, new advances in technology, approval for new products by the Food and Drug Administration (FDA), and subsequent product launches are driving market growth in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global biochemistry analyzer market?
• What are the key market trends impacting the growth of the global biochemistry analyzer market?
• What are the challenges to market growth?
• Who are the key vendors in the global biochemistry analyzer market?
• What are the market opportunities and threats faced by the vendors in the global biochemistry analyzer market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global biochemistry analyzer market? 

Technavio also offers customization on reports based on specific client requirement.