The Global Hematocrit Test Market is expected to Grow at a CAGR of 4.5% during the forecast period 2017-2023.
Hematocrit test is one of the various diagnostic tests used for the diagnosis of anemia, cancer, and kidney diseases. The test measures the percentage of Red Blood Cells (RBCs) in the blood. Low hematocrit levels indicate anemia, cancer, sickle cell anemia, enlarged spleen, and polydipsia. While high hematocrit indicate dehydration, pulmonary embolism, pulmonary fibrosis, Chronic Obstructive Pulmonary Disease (COPD), chronic sleep apnea, and other diseases.
Increasing demand for diagnostic medical devices, extensive use of hematocrit test and rising prevalence of cardiovascular diseases, cancer and kidney diseases, are the major drivers for the market growth. Additionally, increasing research and development activities and technological advancements for chronic kidney disease and cancer accelerate the market growth.
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Some of key the players in the market are Abbott (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Siemens AG (Germany), Beckman Coulter, Inc. (U.S.), Bio-Rad Laboratories, Inc. (U.S.), Horiba, Ltd. (Japan), Mindray Medical International Limited (China), Boule Diagnostics AB (Sweden), Nihon Kohden Corporation (Japan), Sysmex Corporation (Japan), and others.
The Americas hold the largest market share in the hematocrit test due to increasing demand for technologically advanced hematology analyzers and test kits. Additionally, the presence of major market players also influences the growth of the market in the U.S. followed by Canada. Kidney disease is one of the major cause of mortality and morbidity in the Americas, thus boosting the market growth. Prevalence of cardiovascular disease and kidney diseases further accelerate the market growth. In South America, the market exhibits better growth opportunities due to the development of healthcare industry in recent years.
In Europe, the prevalence of diabetes, a major risk factor for heart disease is increasing in major economies such as Germany, thereby signifying the need for diagnostics services. Germany, France, and the U.K are the major contributors to the market growth in Europe with key players focusing on product differentiation and quality. Furthermore, the development of medical device industry and increasing awareness about early diagnosis of chronic diseases such as cancer is driving the market growth. Moreover, extensive research and development activities in the field of hematology, and the emergence of new market players in medical device industry determine the market growth.
In the Asia Pacific region, Japan, China, and India are the largest contributors to the market growth. Increasing prevalence of chronic diseases such as cardiovascular diseases, cancer, and kidney disease are the major driver for the market growth. The rapid growth of healthcare market and extensive demand for diagnostic services further fuel the growth of the market.
In the Middle East & Africa, the United Arab Emirates, Saudi Arabia, and Kuwait hold the least share of the global market due to lack of knowledge about diagnostic tests for chronic diseases and low technologically advanced devices. Whereas, the African region is expected to witness moderate growth in the market.
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Cardiovascular diseases, cancer, and kidney diseases are increasing the economic burden of various developing and developed nations across the globe. The market for hematocrit test is driven by rising prevalence of chronic diseases such as cardiovascular diseases, diabetes, and others along with changing lifestyle, and increasing demand for diagnostic devices for cardiovascular diseases. However, limited number of trained personnel has restrained the growth of the market. However, the high cost of diagnosis and treatment of cardiovascular diseases also restrains the growth of the market. As per the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), the overall prevalence of Chronic Kidney Disease (CKD) in the general population across the globe is nearly 14%. However, the growth of the market is restrained by the inaccurate or misleading result of the test and unawareness about hematocrit test in the diagnosis of the disease.
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