How Has the Hemoglobin Meter Market Evolved Historically and What is its Current Size?
The hemoglobin meter market has seen considerable growth due to a variety of factors.
• In recent years, the hemoglobin meter market has seen rapid expansion. It is expected to increase from $2.46 billion in 2024 to $2.75 billion in 2025, with a compound annual growth rate (CAGR) of 11.8%.
This significant growth during the historic period is due to several factors, including the increasing occurrence of anemia, a worldwide rise in blood disorders, the growth of healthcare facilities, heightened government healthcare initiatives and funding, developments in the point-of-care testing market, and a heightened emphasis on preventive healthcare.
What is the Forecasted Market Size and CAGR for the Hemoglobin Meter Market?
The hemoglobin meter market is expected to maintain its strong growth trajectory in upcoming years.
• The market for hemoglobin meters is poised to experience substantial expansion in the coming years, with projections indicating a surge to $4.26 billion by 2029, reflecting a compound annual growth rate (CAGR) of 11.6%.
This predicted market growth over the forecast period is linked to several factors including an increased consciousness regarding early diagnosis, the upswing in demand for preemptive healthcare solutions, the burgeoning market of home testing kits, the rise in real-time data monitoring solutions, and the improvement in testing device accuracy and speed. The anticipated trends during the forecast period encompass advancements in technology, incorporation with digital health platforms, point-of-care testing, strides in sensor technology, enhanced data precision and accuracy, and the advent of multi-functional meters.
What Key Factors and Trends Are Driving The Growth Hemoglobin Meter Market?
The increasing occurrence of anemia is projected to accelerate the expansion of the hemoglobin meter market. Anemia, a condition defined by a shortage of red blood cells or hemoglobin, results in lowered oxygen circulation within the body. This growing occurrence of anemia is motivated by deficiencies in nutrients, especially iron, vitamin B12, and folate, predominantly attributed to poor eating practices and restricted availability to foods rich in nutrients. Furthermore, poverty, inaccessible healthcare, and genetic diseases can induce chronic anemia by interrupting the production of red blood cells. A hemoglobin meter is employed in diagnosing anemia to gauge hemoglobin concentration in the blood, facilitating the diagnosis and tracking of the condition's severity. For example, in July 2023, as per the Institute for Health Metrics and Evaluation (IHME), a national and international public health agency and research entity based in the UK, nearly 2 billion individuals across the globe were impacted by anemia, with a higher incidence in females than males. Across the globe, an estimated 31.2% of females had anemia, versus 17.5% of males. This gender gap was notably apparent during reproductive ages (15–49), with anemia affecting 33.7% of females in contrast to 11.3% of males in this demographic. Hence, the escalating occurrence of anemia will stimulate the growth of the hemoglobin meter market.
What Are The Market Segments In The Hemoglobin Meter Market?
The hemoglobin metermarket covered in this report is segmented –
1) By Type: Full Automatic, Semi Automatic
2) By Product: Bench Top, Portable
3) By Application: Hospitals, Labs, Other Applications
Subsegments:
1) By Full Automatic Hemoglobin Meters: Portable Full Automatic Hemoglobin Meters, Desktop Full Automatic Hemoglobin Meters, Integrated Full Automatic Hemoglobin Meters, Advanced Full Automatic Hemoglobin Meters
2) By Semi-Automatic Hemoglobin Meters: Basic Semi-Automatic Hemoglobin Meters, Digital Display Semi-Automatic Hemoglobin Meters, Microcuvette-based Semi-Automatic Hemoglobin Meters, Handheld Semi-Automatic Hemoglobin Meters
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What Emerging Trends Are Influencing The Growth Of The Hemoglobin Meter Market?
Prominent corporations in the hemoglobin meter market are centering their efforts on innovative methods such as fingerstick blood tests to lessen the expenses of health services linked with lab appointments. The fingerstick blood test is a speedy, and minimally invasive procedure for obtaining blood specimens by making a small cut in the skin. This facilitates swift and handy health checks at home. For example, Sanguina Inc., a medical biotechnology enterprise based in the U.S., got approval from the U.S. Food and Drug Administration (FDA) for its home hemoglobin testing kit, AnemoCheck Home in October 2023. This home test kit allows individuals to comfortably track their hemoglobin levels at home. As the only FDA-endorsed home hemoglobin test in the United States, it serves individuals afflicted with conditions such as anemia due to nutritional shortage, thalassemia, and sickle cell disorders. The kit uses a simple fingerstick blood collection method, enabling users to secure a blood sample with little distress.
Who Are the Key Players In The Hemoglobin Meter Market?
Major companies operating in the hemoglobin meter market are:
• F Hoffmann-La Roche Ltd
• Thermo Fisher Scientific Inc
• Abbott Laboratories
• Danaher Corporation
• Siemens Healthcare GmbH
• Terumo Corporation
• Shenzhen Mindray Bio-Medical Electronics Co Ltd.
• Beckman Coulter Inc
• Quidel Corporation
• Sysmex Corporation
• Bio-Rad Laboratories Inc
• Nihon Kohden Corporation
• Nova Biomedical Corporation
• Green Cross Medis Corp
• Instrumentation Laboratory Company
• ACON Laboratories Inc
• Erba Diagnostics Mannheim GmbH
• Transasia Bio-Medicals Ltd
• Trinity Biotech
• HemoCue AB
• EKF Diagnostics Holdings plc
• Boule Diagnostics AB
• PTS Diagnostics
• HUMAN Diagnostics Worldwide
• Osang Healthcare Co. Ltd.
• Labtronics
• DiaSys Diagnostic Systems GmbH
• PixCell Medical Technologies Ltd.
What Are The Regional Insights Into The Hemoglobin Meter Market?
North America was the largest region in the hemoglobin meter market in 2024. The regions covered in the hemoglobin meter market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
