On February 10, 2021, Los Angeles-The global clinical chemistry analyzer market is expected to grow at a compound annual growth rate of 5.8% during the forecast period from 2020 to 2027, reaching approximately US$17.7 billion by 2027.
Due to the high-tech advancement of medical equipment, the North American market is expected to occupy a considerable revenue share in the global market. Companies operating in the country invest heavily in product development activities. They focus on developing intelligent analyzers that can provide real-time and accurate data. The innovative products provided by major players to attract new customers are expected to have a positive impact on the growth of the target market.
It is expected that the increase in government spending on the development of the healthcare industry and the increase in consumers’ awareness of healthcare will be expected to promote the growth of the target market.
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In addition, more and more patients suffering from various chronic diseases and advanced infrastructure with advanced equipment will support the growth of the target market.
Due to the increase in government spending on the development of the healthcare industry, the target market in the Asia-Pacific region is expected to achieve faster growth during the forecast period. In addition, due to the easy availability of raw materials and low-cost labor, major players are trying to transfer production units to developing countries, which is expected to promote the growth of target markets.
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The evolving regulatory environment and changing business policies are attracting major players from developing countries. The emergence of small and medium-sized players with innovative solutions is a factor affecting the growth of the regional market.
The global prevalence of chronic diseases is rising, the increasing demand for advanced diagnostic equipment in hospitals and laboratories, and the massive government spending on the development of the healthcare industry are all factors driving the growth of the global market. In addition, the rapid technological advancement of medical equipment and the demand for equipment to help early diagnosis of diseases, as well as functions such as advanced modeling and parameter estimation, better resolution, and improved pattern recognition, are becoming more and more important. Innovative products provided by major players are expected to drive the growth of the target market.
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Factors such as strategic mergers and acquisitions and business development activities in order to increase business influence and enhance product portfolio are factors that promote the growth of the target market.
However, factors such as high capital investment and high-cost equipment are the main factors driving the growth of the global market. In addition, strict government regulations related to product approval are expected to challenge the growth of the target market.
In order to increase revenue share, major players tend to be developing counties, and the development of smart and low-cost analyzers is expected to create new opportunities for participants during the forecast period. In addition, the government’s infrastructure development activities to promote the adoption of advanced equipment are expected to support revenue in the target market.
Companies operating in the global clinical chemistry analyzer market include Beckman Coulter, Abbott Diagnostics, Siemens, Ortho-Clinical Diagnostics, Thermo Fisher Scientific, Randox Laboratories Ltd., Roche Diagnostics, Elitech Group, Mindray and Horiba. Due to the large number of participants operating on a global scale, the market is highly competitive.
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Post time: Mar-10-2021