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(IT-NEWSWIRE.COM, April 10, 2020 ) Market Overview
• The Global Clinical Chemistry Market is expected to grow at a CAGR during the forecasting period (2019-2026).
• Clinical chemistry uses chemical processes to measure levels of chemical components in body fluids. It is a part of biochemistry which deals with the examination of body fluids for diagnostic purposes.
• Clinical Chemistry is used for detection of analyte concentration by testing serum, blood, cerebrospinal fluids, plasma, and urine samples to diagnose disease, or to find out metabolic function, or to assess the presence of drugs.
• Clinical chemistry uses two methods commonly, and they are ion-selective electrodes (ISE) and photometry. ISE uses a sensor to determine the electrolyte concentration of the test sample. Photometry uses the color produced when the sample is mixed with reagents as a reference to measure the analyses concentration of the sample.
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Drivers and Restraints
• The major driving factors of the global clinical chemistry market are rising prevalence rates of lifestyle disease such as diabetes and obesity, the growing health care expenditure and the fast-growing diagnostic market. Furthermore, the rise in geriatric population, increasing the need for laboratory automation, and increasing awareness for preventive healthcare are few other factors that fuel the growth of the clinical chemistry market.
• According to the World Health Organization (WHO), 2016, more than 1.9 billion adults (18+ years) were overweight worldwide, and of these over 650 million were obese.
• However, the risk of outcome ambiguity, the strict regulatory rule for medical devices and the need for trained and qualified professionals are few of the factors that may dampen the market growth.
Segmentation Analysis
• By product type, the global clinical chemistry market is segmented into analyzers and reagents. Analyzers are sub-segmented into fully automated clinical chemistry analyzer, semi-automated clinical chemistry analyzer, and accessories, while reagents are sub-segmented into calibrators, standards, controls, and other reagents.
• Clinical chemistry reagents segment holds the largest market share during the forecast period due to the significant presence and needs for reagents during clinical testing like enzymes, substrates, dyes, proteins, and buffers.
• This segment is anticipated to witness a profitable growth with the growing prevalence of lifestyle diseases and aging population causing an increasing need for clinical test procedures with cost-effective reagents.
• Calibrators assist analyzer in producing an accurate and reliable clinical result, standard solutions set equipment to measure correctly at a known concentration range of the sample, control reagents are used to verify accuracy and acceptability of each test run.
• By application, the market is segmented into general chemistry tests (basic metabolic panel, liver, and kidney function tests, etc.), special chemistry is (electrophoresis), clinical endocrinology (testing for hormones), toxicology (test of drugs of abuse), therapeutic drug monitoring (the measurement of therapeutic medication levels), urinalysis (chemical analysis of urine), and other biochemical tests.
• With the rise in metabolic disorders and lifestyle diseases, general chemistry tests hold a significant market share of the clinical chemistry market. Growing health awareness causing a surge in routine health check-ups are more factors driving the market.
• A sedentary lifestyle and fat-rich diet habits have risen the prevalence of cardiovascular diseases and as a result, increased the need for lipid profile test in detection of cholesterol and lipoprotein level. Clinical endocrinology also holds a notable share of the market with a significant prevalence of thyroid diseases increases the need for thyroid profiling. According to the American Thyroid Association (ATA), more than 12% of the U.S. The population will develop a thyroid condition during their lifetime, and an estimated 20 million Americans have some form of thyroid disease.
Geographical Share
• North America accounts are estimated for the largest share in the global clinical chemistry market in the forecasted period followed by Europe. It can be attributed to rising health awareness and focus on healthy living
• These are crucial contributors to the market as they are technologically advanced and developed regions with advanced healthcare infrastructure.
• The market presence of prominent players influences the North American clinical chemistry market growth along with the growing number of independent laboratories and physician office labs which have a positive impact on the market.
• According to the American Diabetes Association, 2015, around 30.3 million Americans, or approximately 9.4% of the U.S. population had diabetes which can be diagnosed by a blood glucose test.
• According to the Centers for Disease Control and Prevention (CDC), 7% of children and adolescents ages 6 to 19 in the U.S. have high total cholesterol, and it is suggested that all adults should get their cholesterol levels checked once every 4 to 6 years.
• The Asia Pacific market is expected to witness a significant growth owing it to developing healthcare infrastructure, favorable government norms, emerging health awareness, demand for affordable healthcare, and initiatives taken by the government and other healthcare organizations are expected to boost the growth of clinical chemistry in the region.
Market Trends
• Several companies have adopted merger and acquisitions policies and collaborations to help them to stand out as strong competitors in the market and also expand its sales in the global clinical chemistry market. New and innovative product launches is another strategy adopted by the leading players to improve their market presence.
• January 2019, Alinity, Abbott’s state-of-the-art, harmonized family of systems for clinical diagnostics was launched. It provides the testing ability for immunoassay, clinical chemistry, a point of care, hematology, transfusion, and molecular diagnostics.
• The Alinity series is poised to change the industry’s testing paradigm through efficiency, speed, and scalability to help guide care for patients.
• January 2019, Roche Diagnostics launched cobas pro integrated solutions, they were developed in collaboration with the company’s long-term partner Hitachi High-Technologies. It enhances automated lab procedures and reduces manual time.
• The cobas pro integrated solutions are the first Serum Work Area analyzer that is part of a new generation of analyzers. It’s both a new low and high throughput analyzer, as well as a fully-integrated mass spectrometry analyzer.
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pr@datamintelligence.com
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