Northbrook, IL -- (SBWIRE) -- 02/19/2021 -- According to the new market research report "Clinical Chemistry Analyzers Market by Product (Fully-Automated Analyzers, PoC Analyzers, Reagents), Test Type (Basic Metabolic, Liver, Renal, Lipid, Thyroid Function), End User (Hospitals, Clinics, Laboratories, Research) – Global Forecast to 2026", published by MarketsandMarkets™, the global Clinical Chemistry Analyzers Market size is projected to reach USD 15.2 billion by 2026 from USD 12.3 billion in 2021, at a 4.3% CAGR.

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The rising geriatric population and the increasing prevalence of chronic & lifestyle diseases, growing adoption of Point-of-Care testing devices and rising demand for laboratory automation drives growth in the Clinical Chemistry Analyzers Market. Emerging economies such as China and Japan are providing lucrative opportunities for the players operating in the market.

The reagents segment accounted for the largest share of the Clinical Chemistry Analyzers Market, by product segment, in 2020

Based on product, the Clinical Chemistry Analyzers Market is segmented into reagents, analyzers and other products. The reagents segment accounted for the largest share of the market in 2020. The recurrent requirement of reagents in large numbers compared to analyzers is the major factor driving this segments growth.

Lipid profile tests segment to register the highest growth rate during the forecast period

The Clinical Chemistry Analyzers Market is segmented basic metabolic panels, electrolyte panels, liver panels, lipid profiles, renal profiles, thyroid function panels, and specialty chemical tests. Based on test type. In 2020, the lipid profile tests segment accounted for the highest growth rate. This can be attributed to the Rapid growth in obesity rates and the increasing incidence of obesity-related diseases

The hospitals and clinics segment accounted for the largest share of the Clinical Chemistry Analyzers Market, by end user segment, in 2020

Based on end-users, the Clinical Chemistry Analyzers Market is segmented into hospitals and clinics, diagnostic laboratories, research laboratories & institutes, and other end users. In 2020, hospitals and clinics accounted for the largest share of the market. The increasing number of hospitals worldwide owing to the increasing incidences of diseases & disorders, increasing adoption of analyzers and rising technological advancements are the major factors driving this segments growth.

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The Clinical Chemistry Analyzers Market is segmented into five regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the market. The large share of this region can be attributed to the increasing geriatric population, increasing prevalence of chronic & lifestyle conditions, implementation of favorable government initiatives, increasing healthcare expenditure, improved healthcare infrastructure, and the availability of technologically advanced instruments.

The major players operating in this market are F. Hoffmann-La Roche Ltd. (Switzerland), Danaher Corporation (US), Abbott Laboratories (US), Thermo Fisher Scientific Inc. (US), Siemens AG (Germany), HORIBA Ltd. (Japan), Sysmex Corporation (Japan), HITACHI (Japan), EKF Diagnostics (UK), Ortho Clinical Diagnostics (US), ELITech Group (France), Mindray Medical International Ltd. (China), BIOBASE Group (China), SFRI Medical Diagnostics (France), Trivitron Healthcare Pvt. Ltd. (India), Randox Laboratories Ltd. (UK), Medica Corporation (US), Meril Life Sciences Pvt. Ltd. (India), Erba Mannheim (UK), Genrui Biotech Inc. (China), DIRUI Industrial Co. Ltd. (China), Teco Diagnostics (US), Balio Diagnostics (France), Snibe Co. Ltd. (China), and AMS Alliance (Italy).