Asia-Pacific Hematology Market

Asia-Pacific Hematology Market Size

The hematology market size in the Asia-Pacific was valued at USD 2.03 billion in 2023. The regional market is estimated to grow at a CAGR of 10.16% from 2024 to 2032 and be worth USD 4.85 billion by 2032 from USD 2.24 billion in 2024.

MARKET DRIVERS

The increasing incidence of blood disorders is one of the primary factors boosting the hematology market in the Asia Pacific region. Blood disorders are becoming a health issue worldwide and are also increasing the mortality rates in many countries. Furthermore, with the increase in population, blood disorders such as anemia, blood cancer, hemorrhagic conditions, and blood infections affect many people worldwide. As the Asia region is highly populated, blood disorders are affected most, accelerating the regional market growth. Blood donation camps are increasing rapidly, and people are increasing awareness about the advantages of blood donations to society. This is increasing the demand for the hematology market. As the elderly population is rising, growth in chronic diseases is rising, boosting the development of the market. New opportunities are being introduced with advancements in technologies such as care testing devices. The government is also investing in the hematology market, driving the increase in the Asia-Pacific hematology market. New low-cost diagnosis is introduced in this market that people are interested in and is expected to propel the regional market expansion. 

MARKET RESTRAINTS

However, a lack of awareness about blood donation in rural regions is hampering the market's growth. The major drawback of this market is that the cost of installation is very high. The manufacturing and maintenance of the equipment costs are also very high. These factors are expected to be hampering the growth of the market. In addition, strict government rules in launching new products and product recalls are further estimated to restrain the development of the market in the forecast period.

REGIONAL ANALYSIS

The Asia-Pacific region is predicted to be the fastest-growing regional segment in the worldwide market currently and is likely to hold a promising occupancy of the worldwide market over the forecast period. The key factors such as increasing investments by the government into the R&D department, increase in the use of automated hematology instruments in many laboratories, and increase in the fast testing of hematology are rapidly accelerating the hematology market in the APAC and are expected to position the APAC as the fastest-growing regional markets globally.

In the Asia Pacific region, China had the largest share in the Asia-Pacific hematology Market in 2023. The main driver for this market in China's increasing elderly population is growing chronic diseases that boost the growth of the market. Hematological testing became very important with the recent outbreak of COVID-19. As a result, the demand for hematology products has increased in various regions, which increased the need for the Asia-Pacifichematology market.

Followed by China, Japan had the highest share in the Asia-Pacific Haematology Market. The new advancements in hematology analyzers with POC testing, rapid testing kits, and new automation technologies are increasing the demand for the market. Globally, Japan is leading in the hematology analyzers and reagents market. Sysmex company is said to be leading in the supply of instruments and reagents in diagnostics. New research investments and new product launches are prominent in the future growth of the APAC Hematology market. These are the main factors behind the future development of the Asia-Pacific Hematology Market.

KEY MARKET PLAYERS

Companies playing a leading role in the Asia-Pacific hematology market in this report include Siemens AG Healthcare, Johnson & Johnson, Beckman Coulter, Inc., Abbott Laboratories, Thermo Fisher Scientific, Roche, HORIBA Ltd., Sysmex Corporation, Bio-Rad Laboratories Inc., Boule Diagnostics AB, Mindray Medical International Limited.

MARKET SEGMENTATION

This research report on the Asia-Pacific hematology market is segmented and sub-segmented into the following categories.

By Product

• Hematology Analyzers
• Hematology Reagents
• Flow Cytometers
• Hematology Cell Counters
• Slide Stainers
• Coagulation Analyzers
• Hematology Testing
• Centrifuges
• Hemoglobinometers
• Others

By Application

• Infectious Diseases
• Cancer
• Cardiovascular Disorders
• Blood Screening
• Diabetes
• HIV
• Auto-Immune Diseases

By End-User

• Hospitals
• Clinics
• Diagnostic Laboratories
• Research and Development Centers
• Others

By Country

• India
• China
• Japan
• South Korea
• Australia
• New Zealand
• Thailand
• Malaysia
• Vietnam
• Philippines
• Indonesia
• Singapore
• Rest of Asia-Pacific