The global clinical chemistry analyzers market is expected to grow at a CAGR of 5.52 percent between 2014 and 2019, to reach USD 11,728 million in 2019.The analyzer product segment had the largest share of the clinical chemistry analyzers market, whereas the reagents product segment is expected to grow at the highest CAGR in the forecast period, predicts MarketsandMarkets.
The clinical chemistry market is driven by various factors, including technological advancements, increase in global number of in vitro diagnostic tests, rising number of point-of-care testing capabilities, and increased awareness about health and diagnostic tests amongst the population. Owing to technological advancement, a large number of sophisticated and accurate chemistry analyzers are being introduced in the market. Increased focus on reduction of healthcare expenditure would also increase the demand for clinical chemistry analyzers as effective diagnosis would reduce the cost due to misdiagnosis. However, high cost, need of highly qualified and trained personnel, and risk of result uncertainty are some of the market restraints.
The North American region is considered as the most dominating market. At present, the U.S., Europe, and Japan account for more than 60 percent share of the market. However, these regions are expected to witness decline in their market share due to market maturity and expansion of clinical diagnostics segment in the Asian region. Thus, Asia-Pacific region is anticipated to be the highest-growing market for the forecast period.