Clinical Chemistry Market Size, Share and Global Trend By Product Type (Analyzers, Reagents & Consumables), By Application (General Chemistry Test, Liver Function Test, Kidney Function Test, Urinalysis, Electrolyte Panel, Lipid Profile, Specialty Chemical Test, Others), By End User (Hospitals, Diagnostic/Pathology Centers, Ambulatory Surgery Centers (ASC), Others), and Regional Forecast, 2024-2032

Clinical chemistry, also known as medical or clinical biochemistry, is a rapidly developing industry operating across the globe. It is a part of clinical pathology that is usually apprehensive with analysis of body fluids for therapeutic and diagnostic purposes. Some of the most common body fluids tested in clinical chemistry include blood and urine. Components may include blood glucose, enzymes, electrolytes, hormones, lipids (fats), other metabolic substances, and proteins. Clinical chemistry tests include general tests, special tests (electrophoresis), clinical endocrinology tests, diagnostic tests, toxicology tests, and urinalysis. Clinical chemistry for enzymes often provides information regarding the occurrence of diseases such as pancreatic cancer or damage to organs in the body. Clinical chemistry also includes tests which function as cardiac markers and tumor markers for detection of cardiac and cancer disorders. The global clinical chemistry market is anticipated to considerably and substantially grow, owing to several factors. The American Diabetes Association (ADA) estimated that in the U.S., every year about 1.5 million individuals are diagnosed with diabetes and in the year 2015, 30.3 million Americans, i.e., 9.4% of the population had diabetes. ADA also estimated that in the geriatric population, the rate of diabetes incidence is higher, affecting about 25.2%, i.e., 12 million of the seniors annually. According to the American Cancer Society, in the U.S, 1,688,780 new cancer cases were diagnosed, and 600,920 cancer deaths occurred in 2017. For most of these diseases, clinical chemistry is the first line of diagnosis and start of treatment, carried out through blood tests.

Increased prevalence of infectious and chronic diseases such as cancers and diabetes, which lead to a demand for swift and accurate diagnosis is responsible for driving the clinical chemistry market during the forecast period. Unhealthy diet, sedentary lifestyle, and lack of exercise leading to lifestyle disorders are also the factors driving the clinical chemistry market. Increasing technological advancements coupled with other factors such as increasing disposable incomes leading to greater demand for advanced diagnostics and the life-threatening nature of the diseases/ disorders are also fueling the market growth.

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However, the absence of skilled professionals to conduct clinical chemistry tests is responsible for inhibiting the growth of the clinical chemistry market. Another factor that limits the growth of the market is the associated high cost of the clinical chemistry test, which is a key disadvantage, especially in the emerging markets.

Key Players Covered

Some of the major companies that are present in the global clinical chemistry market are Abbott, F. Hoffmann-La Roche Ltd, ELITechGroup, Beckman Coulter, Inc., Thermo Fisher Scientific, Alfa Wassermann Inc., Ortho-Clinical Diagnostics, Diatron, Nova Biomedical, and other players.

SEGMENTATION

Among the product segment, analyzers account for the largest proportion of the market because it is one of the primary and first line products used in the clinical chemistry market. Also, it is used to conduct the majority of clinical chemistry tests.

Key Insights

• Advancements in research & development in the clinical chemistry market
• Overview of the competitive landscape among the key players of the clinical chemistry market
• Pricing analysis of the analyzers, reagents, and consumables
• Recent industry developments such as mergers and acquisitions 

Regional Analysis

The global clinical chemistry market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounts for the largest share of the clinical chemistry market owing to the presence of the highly developed healthcare facilities, ongoing R&D initiatives combined with the increasing prevalence of acute and chronic diseases, and focus on healthy living. Europe is also anticipated to register significant growth during the forecast period owing to its growing healthcare infrastructures, adoption of automated clinical chemistry analyzers, and high diabetes, blood pressure, lung and heart diseases patient pool. In the Asia Pacific region, Japan, along with China and India, is expected to provide the largest market opportunity. This is because Japan has a highly developed healthcare and insurance facilitiesChina and India are anticipated to be the fastest emerging markets owing to the rising prevalence of lifestyle-related disorders.

Key Industry Developments

• In February 2019, JEOL and the Fujifilm Corporation entered into an agreement on an overseas sales collaboration for the clinical chemistry analyzer business.
• In January 2019, F. Hoffmann-La Roche Ltd launched COBAS PRO, an integrated solution in Serum Work Area that marks as a significant milestone in laboratory diagnostic allowing 2,200 test per hour.
• In January 2017, Abbott announced the obtaining of the CE Mark for its ALINITY CI-SERIES DIAGNOSTIC SYSTEMS.
• In July 2015, Sekisui Diagnostics, one of the largest clinical chemistry reagent companies, announced the launch of its SEKURE brand of the clinical chemistry reagents.