The North American clinical chemistry market is projected to grow at a CAGR of 4.2% from 2019 to 2024. Rising healthcare reforms and increasing managed health care organizations are major factors driving the clinical chemistry market in the American region.
Description: A well-established healthcare market in countries like the U.S. and Canada along with leading players in the region have created large number of growth opportunities for the clinical chemistry manufacturers and traders. Along with this, high government participation in public healthcare and very high prevalence of disease such as obesity, heart and lung diseases, diabetes, high cholesterol and blood pressure problems makes clinical chemistry a very lucrative market in this region.
The North American clinical chemistry analyzers market is divided into reagents and devices. The reagents market is further divided into metabolites, enzymes, electrolytes and others. The metabolites market dominate the American clinical chemistry analyzers market with a market share of more than 40% in 2017. The devices market is majorly studied for semi- automatic devices and fully automatic devices. The market is dominated by fully automatic clinical chemistry devices such as entry level, medium throughput analyzers, high throughput and high throughput modular analyzers. The market for high throughput modular analyzers is the highest due to easy usage and accurate results facilitated by options of performing multiple tests.
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The clinical chemistry analyzers are majorly used in hospitals, diagnostic laboratories, academic institutes and others such as blood banks, cancer research centers, and military hospitals among others. In the North American region the use of clinical chemistry analyzers is highly done in hospitals followed by diagnostic laboratories and academic institutions. A well-established healthcare sector in the American region results into usage of advanced healthcare in hospitals and diagnostic laboratories due to which the market for clinical chemistry analyzers in hospitals and diagnostic labs is high.
The major states considered in the North American clinical chemistry analyzers market are the U.S., Canada and Mexico. In North American, the U.S. dominated the clinical chemistry analyzers market with a market share 2017. The market dominance is mainly due to well established healthcare industry in U.S. with the presence of leading market players. Also, the increasing aging population and rising prevalence of chronic diseases is demanding more clinical chemistry analyzer devices to conduct multiple tests for accurate diagnosis.
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The leading players in this industry include: Abbott Laboratories, Becker Coulter (Acquired by Danaher Corporation), Ortho-Clinical Diagnostics, Inc., F. Hoffmann-La Roche, Siemens AG, Thermo Fisher Scientific Inc., Horiba Ltd, Elitech Group, Randox Laboratories Ltd, Bio- Media Unlimited Ltd., CAESA- LAB Inc, Mindray Medical International Limited., among others. These companies have established their position in the market by offering competent products. Along with this, they are making their presence strong in the market though strategies such as mergers, acquisitions, joint ventures and collaborations.