The hemoglobin testing devices market is projected to witness substantial growth on account of rising prevalence of anemia cases.
The hemoglobin testing devices market is projected to witness substantial growth on account of rising prevalence of anemia cases. Anemia is regarded as a major public health issue that is impacting both the developed as well as developing nations. According to statistics, nearly 1.6 billion people are suffering from anemia globally.
As a result, several federal bodies across the globe have started to implement state-wide initiatives to spread awareness about the ill effects of anemia. Such initiatives could hugely benefit the hemoglobin testing devices market in the future.
Rapid technological innovations have supported the development of advanced testing kits capable of offering precise results within a short span of time. Based on report published by Global Market Insights Inc, the hemoglobin testing devices market might hit the USD 5.3 billion mark by the end of 2025.
Growing prominence of spectrophotometry -
Spectrophotometry technology evaluates results by analyzing the capacity of a compound to absorb light over a particular wavelength range. According to the International Committee for Standardization in Hematology (ICSH), spectrophotometry was considered as the ideal procedure for diagnosing blood-related disorders. Earlier in 2018, the segment had accounted for almost USD 1.9 billion and is estimated to witness remarkable gains during the predicted timeframe.
The technology is also gaining significance in military. Back in September 2019, The US Navy was awarded with three spectrophotometry patents for laser-based air biosensors that can facilitate real-time monitoring and remote detection while maintaining the levels of biological chemicals.
To access sample pages of this report titled, “Hemoglobin Testing Devices Market Size By Product (Equipment {Point of Care [Portable, Handheld, Bench-top], Laboratory Analyzers} Consumables) By Technology (Chromatography, Immunoassay, Spectrophotometry), By End-use (Hospitals, Clinics, Laboratories, Home Care Settings, Blood Banks), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents, please click on the link below:
https://www.gminsights.com/request-sample/detail/4415
Escalating demand across medical clinics -
Increasing establishment of clinics across developing as well as developed economies could drive the demand for hemoglobin testing kits across clinical facilities. Earlier in 2018, the clinic segment had recorded nearly 22.7% of the overall revenue share and is expected to maintain steady growth over the forecast timeframe.
Shifting inclination towards diagnostic clinics due to increasing presence of state-of-the-art facilities could enhance the industry landscape by 2025. Apart from clinics, the device is also demanded in hospitals, home care settings, blood banks, and laboratories
Adoption of new business strategies -
Established companies operating in the hemoglobin testing devices industry like B. Bayer medical care, Abbott, Danaher, Biorad, Roche, and EKF Diagnostics are continuously adopting multiple business strategies to expand their consumer base as well as market share. Taking December 2020 for instance, Masimo released the latest findings from a research study conducted Dr. Saraçoğlu and colleagues at Marmara University in Istanbul that showcased the efficacy of Masimo’s continuous and noninvasive hemoglobin monitoring, SpHb®. Researchers realized that the use of SpHb resulted in several improved outcomes like reduced length of ICU stay, decreased rate of postoperative transfusion and other improved outcomes.
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