Clinical chemistry, an applied part of biochemistry is the territory of science that deals with examination of body fluids for diagnostic and restorative purposes. Clinical chemistry is a tool used in hospitals, clinical laboratories, and physician’s office to test whole blood, serum, plasma, cerebrospinal fluids, and urine samples for detection of analyte concentration, to find out hematology values, to diagnose disease, metabolic function or to assess presence of drugs. The common two methods deployed in clinical chemistry are photometry and ion selective electrodes (ISE). In photometry, analyte concentration is measured by detecting colour produced when sample is mixed with reagents; whereas in ISE, a sensor is used to determine electrolyte concentration of test sample. Commercially available chemistry analyzers are generally of two typei.e. dry chemistry analyzer and wet chemistry analyzer. In dry chemistry analyzer, instead of wet reagents only lyophilized reconstituted reagents are applied on the slides, on to which test sample is applied and the analyte concentration is measured by the amount of reflected light. The dry chemistry analyzer is gaining popularity among medical professionals due to its efficiency and high-quality clinical outcomes. The wet chemistry tests are widely performed as it provides improved quality test results with minimum time and reduces amount of waste. The economic advantage of wet clinical analyzer and cost effective test would boost the market growth in the coming years.
The report entitled 'Clinical Chemistry Market - Growth, Future Prospects, and Competitive Analysis, 2021 – 2029' offers monetary authorities, officials, business executives and industry specialists with detailed analysis and investigation to empower them to take key methodologies and business choices concerning the possibilities of worldwide clinical chemistry market. The report effectively conveys the comprehensive evaluation of market elements containing drivers, constraints, opportunities and difficulties. This report likewise gives key existing patterns and future extent of the clinical chemistry market alongside information for the base year 2020 and anticipated to 2029 considering CAGR from 2021-2029.
Global market of clinical chemistry is majorly influenced by increasing incidences of infectious disease and growing prevalence of lifestyle diseases such as diabetes, and cardiovascular disorders. Global prevalence of diabetes has reached 422 million in the year 2018 as per the World Health Organization; such high prevalence is expected to be one of the key impact rendering factor of the clinical chemistry market. Growing geriatric population is one of the primary factors driving the market growth since elderly people are mostly susceptible to infectious diseases and other disabilities. Healthcare initiatives from government as well as public and private healthcare facilities, health screening programme and routine health check-ups play major roles in driving the overall growth of clinical chemistry market. The preference for automated clinical chemistry among medical professionals is on rise due to reduction in workload, increase in turn-around time, faster and accurate result, and improved reproducibility. Growing healthcare infrastructure facilities and implementation of advanced technology in healthcare area, increasing usage of automation are anticipated to create opportunities for the clinical chemistry market. However, the high cost of devices and requirements of skilled professionals might pose some challenges on the smooth growth of the clinical chemistry market.
Global clinical chemistry market has been categorized on the basis of products types such as analyzers, and reagents. Analyzers are segmented into fully-automated analyzers, semi-automated analyzers, and accessories. Fully automated analyzers are further classified according on tests per hour basis. Reagents are classified into calibrators, standard, control and other reagents. Based on the application of clinical chemistry, the market has been classified as basic metabolite panel, electrolyte panel, liver function test, lipid profile, kidney function test, thyroid profile, specialty chemical test and other biochemical tests. This report contains the cross-sectional data analysis of each and every section containing data for the base year of 2020 and predicted the market through 2029 along with CAGR calculated from 2021-2029.
The market research report of clinical chemistry covers comprehensive profiling of few existing dominant players of clinical chemistry market along with complete business information and the mentioned companies are ELITechGroup, Roche Diagnostics International Ltd., Beckman Coulter, Inc., Thermo Fisher Scientific, Alfa Wassermann, Ortho-Clinical Diagnostics, Abbott, Accurex Biomedical Pvt. Ltd., HORIBA, Ltd., EKF Diagnostics, Furuno Electric Co., Ltd., Medica Corporation, Siemens Medical Solutions USA, Inc., Randox Laboratories Ltd. MediGroup, ACON Laboratories, Inc. and other notable players.
Clinical chemistry reagents segment is projected to hold the largest share in the clinical chemistry market due to presence of wide range of reagents like substrates, enzyme, proteins, electrolytes, dyes, buffers utilized in laboratory. Calibrators assist analyzer to produce accurate and reliable clinical result after adjusting the analyzer to measure particular analyte in test sample. Standard solution is important to set equipment to measure correctly at known concentration range of sample. Control reagents are of same appearance as of patient’s sample and used to verify accuracy and acceptability of each test run. The reagents market is anticipated to witness lucrative growth due to increasing number of clinical test procedures with cost effective reagents to ensure minimal variation in clinical result. Fully automated clinical chemistry is a medical laboratory instrument with minimal human assistance where manual operation is needed to set the parameters according to the demand. Lower cost, easy handling and simple user interference makes the process easy and these factors drive inclination of hospital and medical facilities towards fully automated clinical chemistry. Fully automated analyzer are much in demand for the big laboratories where there is high pressure of bulk sample diagnosis. Integration of technologically advanced features such as intelligent sample management, large data storage, barcode tracker for sample identification, wireless chip would drive the preference of fully automated device which are expected to drive the market in future years. In semi-automated analyzers, initial part of the process are done manually and rest by the device. Due to cheaper price it is mostly preferred in the small sized laboratories that demands low cost of operation.
Basic metabolic panel is identified as the leading segment due to rising prevalence of lifestyle diseases and metabolic disorders. Up surging routine health check-ups assisted by growing health awareness among public is one of the key market driving factors. Increasing rate of lipid profile test for detection of cholesterol and lipoprotein level due to rising prevalence of cardiovascular diseases as a result of sedentary lifestyle and fat-rich diet habits drive the clinical chemistry market. Electrolyte imbalance occurs in respiratory diseases, renal diseases and in cases of metabolic anomalies; which urged the need of electrolyte panel monitoring. American Thyroid Association (ATA) stated that, 12% of the U.S. population generally develop thyroid during their lifetime and around 20 million Americans have thyroid disease. In the year 2020, an estimated 56,870 adults were with thyroid cancer; this high prevalence indicated the huge importance of thyroid diagnostics at an early stage. Research funded by the American Thyroid Association for mandatory screening of thyroids in newborns and cost-effective detection method fuelled the market growth of clinical chemistry.
Geographically, the global clinical chemistry market is cumulative to North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
In the base year 2020, North America is the dominating region in terms of sales revenue of global clinical chemistry market followed by Europe as a result of rising health awareness, emerging focus into better healthy living and advanced healthcare infrastructure. In accordance with the data stated by the Centers for Disease Control and Prevention (CDC), more than 29 million people were affected with diabetes in the United States in the year 2020; such high prevalence of diabetes mellitus indicated the surging demand for blood glucose diagnosis, which in turn has driven the clinical chemistry market growth. Heart disease is abruptly escalating in the United States due to change in lifestyle and diet pattern which is responsible for around 600,000 deaths in the United States per year. Clinical diagnosis of cholesterol and lipid profile has hence driven the market growth for initiating treatment regimen. Market presence of predominant players has influenced the North American clinical chemistry market to grow. Stringent FDA regulatory guidelines in terms of quality assurance might hamper the smooth growth of clinical chemistry; However, growing number of independent laboratories and physician office labs are expected to have a positive impact on market growth. Emerging health awareness along with initiatives taken by government and other healthcare organizations and developing healthcare infrastructure are anticipated to fuel the market growth in Asia Pacific region.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Clinical Chemistry market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
