Global Biochemistry Analyzers Market Size, Share, Growth, Trends and Forecast (2021-2027)

Global Biochemistry Analyzers Market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 6% during the forecast period (2021-2027). Biochemistry Analyzers is an instrument that has the capability of performing routine biochemistry, hormonal assay, electrolytes, therapeutic drugs and drug-enzyme investigations. Many electrochemical and optical techniques are used by these analyzers to analyze blood, urine, cerebral spinal fluid and other biological samples.

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According to the United Nations, the global population aged 60 years or over was numbered at 962 million in 2017 and is expected to reach nearly 2.1 billion by 2050. This rapidly growing geriatric population base is an indication of the growing prevalence of various age-related diseases such as diabetes, cardiovascular, liver, and kidney diseases, among others and other infectious diseases. this rise in chronic illnesses will eventually increase the demand for tests prescribed for the prevention, diagnosis, and treatment of the same. Owing to these factors and the rising trend for preventive medicine the demand for biochemistry analyzers is expected to increase during the forecast period. Furthermore, the growing adoption of Point-of-Care testing devices, rising demand for laboratory automation, and rapid increase in drug development activities by various pharmaceutical companies are some of the other prominent factors contributing to the growth of the market globally.

Based on type, the market is segmented into semi-automatic and fully automatic. The fully automatic segment grabbed an XX% share of the global biochemistry analyzers market and will witness a considerable CAGR of XX% during the forecast period (2021-2027F) as these types of analyzers speed up the result and minimize the variation in results as well as increase accuracy and reproducibility.

Based on the modality, the global biochemistry analyzers market is segmented into bench-top and floor standing. The bench-top occupied a substantial share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027 owing to the new compact design that enables bench-top analyzers to increase significant productivity and overall performance.

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Additionally, the report provides detailed report also provides insights into the global biochemistry analyzers market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD xx billion in 2020 owing to the well-established market players and frequent product launches.

Siemens AG, Roche Diagnostics GmbH, Abbott Diagnostics Inc., Beckman Coulter, Inc., Nova Biomedical Corporation, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., Awareness Technology, Inc., Hologic, Inc., Randox Laboratories Ltd., Transasia Biomedicals Ltd., are some of the key players operating in the global biochemistry analyzers market. Several MAs along with partnerships have been undertaken by these players to develop new products.

Global Biochemistry Analyzers Market Segmentation

Market Insight, by Type

· Semi-Automatic

· Fully Automatic

Market Insight, by Modality

· Bench-top

· Floor Standing

Market Insight, by End-Users

· Hospitals

· Diagnostic Centers

· Pharmaceutical Biotechnological Companies

· Research Institutes