LONDON--(BUSINESS WIRE)--According to the latest market study released by Technavio, the global biochemistry analyser market is projected to grow to USD 13,340.13 million by 2021, at a CAGR of more than 6% over the forecast period.
This research report titled ‘Global Biochemistry Analyser Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all geographical regions.
The biochemistry analyser is a commonly used lab equipment, which is used for measuring and diagnosing biological samples such as blood, cerebral fluid, urine, etc. The increase in laboratory automation, combined with the biochemistry analyser’s ability to run 9,000 to 10,000 tests per day is resulting in its increased adoption.
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Based on the end-users, the report categorizes the global biochemistry analyser market into the following segments:
- Hospital and diagnostic laboratories
- Home care
- Academic and research institutes
Hospital and diagnostic laboratories
“Hospitals and diagnostic laboratories lead the revenue generation in the biochemistry analyser market, where these products are required for disease diagnosis, treatment, treatment monitoring, disease surveillance, and clinical research,” says Krishna Venkataramani, a lead analyst at Technavio for lab equipment research.
Hospitals and diagnostic laboratories use lab equipment such as biochemistry analysers to perform tests on samples of blood, plasma, serum, or urine to determine the concentration of analytes like cholesterol, glucose, and calcium using the biochemistry analyser.
Home care
The biochemistry analyser market by the home care sector is expected to be worth USD 4,331.5 million by 2021. The use of biochemistry analysers to perform various healthcare diagnoses to reduce the length of hospital stays and provide additional medical assistance are quickly driving the growth of the market segment. Home care is considered less expensive, more convenient, and is as effective as care provided by hospitals or trained nursing facilities, which ensures a constant demand for biochemistry analysers from the segment.
Academic and research institutes
“The focus of academic and research institutes is to test and analyze innovative and diagnostic solutions like the biochemistry analyser, using data related to patients' diagnoses to help them recommend subsequent treatments,” says Krishna.
Various diagnostic solutions are used by academic and research institutes to analyze and understand various biomolecule structures present in biological systems to diagnose diseases so that new drug discoveries can be made for effective therapeutic treatment.
The top vendors highlighted by Technavio’s research analysts in this report are:
- Abbott
- Danaher
- Roche Diagnostics
- Siemens
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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