June 18, 2024
Automated Analyzers Market

Automated Analyzers Market Owing to Rising Demand for Point of Care Diagnostics

The automated analyzers market plays a pivotal role in clinical diagnostic testing by automating various biological and chemical tests. Automated analyzers help in the rapid detection of various infectious diseases, cardiac markers, electrolytes, and therapeutic drugs levels. Key advantages include processing of large number of samples simultaneously, improved accuracy and precision of test results, minimized manual errors, and reduced turnaround times. The growing demand for point of care testing and near-patient testing is driving the adoption of automated analyzers across various healthcare settings.

The Global automated analyzers market is estimated to be valued at US$ 5.56 Bn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period from 2024 to 2031.

Key Takeaways

Key players: Key players operating in the automated analyzers market are Abbott, Danaher, Thermo Fisher Scientific, Inc., Becton Dickinson, Agilent Technologies, Inc., Zimed Healthcare Inc., Biobase Biodusty(Shandong), Co., Ltd., Chongqing Drawell Instrument CO,.Ltd, Transasia Bio-Medicals, Awareness Technology, Inc., Trivitron Healthcare, Getein Biotech, Inc., Eppendorf AG, Honeywell International, Inc., Aurora Biomed, HORIBA, Ltd., Beckman Coulter, Inc.

Key opportunities: Growing demand for point of care testing, increasing volume of diagnostic tests performed, and technological advancements are expected to create significant growth opportunities for players in the Automated Analyzers Market Growth.

Global expansion: Key players are expanding their presence globally, especially in emerging markets of Asia Pacific and Latin America to tap the high growth opportunities. Players are also collaborating with labs, hospitals, and diagnostic centers to improve product accessibility.

Market drivers: The increasing geriatric population and rising prevalence of chronic and infectious diseases are the major drivers of the automated analyzers market. Automated analyzers help to efficiently manage the high testing volumes generated in hospitals and diagnostic labs. Stringent quality standards and regulations regarding test accuracy and reliability are also propelling the demand for automated analyzers.

PEST Analysis

Political: Stringent regulations for accurate testing and diagnosis. Government support for increased research and development activities in life sciences.

Economic: Growing healthcare expenditure driven by rising cases of chronic diseases. Investments by major players to develop advanced automated analyzers.

Social: Increasing awareness about early detection and prevention of diseases. Aging population requiring constant medical supervision and tests.

Technological: Adoption of robotics, artificial intelligence and internet of things. Miniaturization of devices. Integration of multiple modules into single compact systems.

The automated analyzers market in terms of value is concentrated majorly in North America and Europe. North America accounts for the largest share due to advanced healthcare infrastructure and presence of leading market players. Europe is among the other prominent regional markets due to availability of funds for research and rising healthcare spending.

The Asia Pacific region is poised to be the fastest growing market for automated analyzers during the forecast period. Factors such as rising geriatric population, improving public healthcare systems, increasing disposable incomes, expansion of private hospital sector and growing medical tourism are driving the market in Asia Pacific. In addition, growing penetration of major players in emerging countries like India and China will boost automated analyzers adoption in the region over the coming years.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it