Asia Pacific Clinical Chemistry Market | Global Share, Trend Analysis Report

The Asia-Pacific clinical chemistry market was valued at USD 2.347 billion in 2017 and is projected to grow at a CAGR of 7.3% from 2018 to 2024. The market for clinical chemistry in Asia-Pacific is the fastest growing market due to rising awareness about healthcare and increasing efforts taken for the same.  Rising private sector for healthcare in the form of hospitals and diagnostic laboratories and increasing preventive measures for disease control is driving the clinical chemistry market in Asia-Pacific. Leading players in the medical care and clinical chemistry market are entering into Asian countries with their new technologies and devices to tap the untapped market. Less developed healthcare in countries like India, Indonesia, and other such developing countries makes clinical chemistry a very lucrative market for the leading players in this market. The Asia-Pacific clinical chemistry analyzers market is studied for reagents and devices. The reagents market is further divided into metabolites, enzymes, electrolytes and others. The metabolites market dominate the Asia-Pacific clinical chemistry analyzers market with a more than 20% of market share in 2015. The devices market is dominated by fully automatic clinical chemistry devices such as entry level, medium throughput analyzers, high throughput and high throughput modular analyzers. Among the fully automatic clinical chemistry devices, the market for high throughput modular analyzers is the highest due to easy usage and accurate results facilitated by options of performing multiple tests. Among the end users of clinical chemistry analyzers in Asia-Pacific, the demand for reagents and devices is very high in hospitals.  Apart from hospitals, these analyzers are also used in diagnostic laboratories, academic institutes and others such as blood banks, cancer research centers, military hospitals among others. Rising high-tech hospitals and increasing use of innovative devices which give accurate results is stimulating the demand for clinical chemistry analyzers in hospitals. The major countries considered in the Asia-Pacific clinical chemistry analyzers market are the China, Japan, India and rest of Asian countries such as Vietnam, Singapore, Malaysia, Australia, Thailand, New Zealand, Malaysia among others. Japan dominated the clinical chemistry market due to high demand for diagnostic reagents and devices by the largest aging population in the world. The medical care expenditure in the country is also very high demanding innovative analyzing devices and reagents for better medical care. The leading players in this industry include Abbott Laboratories, Becker Coulter (Acquired by Danaher Corporation), Ortho-Clinical Diagnostics, Inc., F. Hoffmann-La Roche, Siemens AG, Thermo Fisher Scientific Inc., Horiba Ltd, Elitech Group, Randox Laboratories Ltd and Mindray Medical International Limited., among others. These companies have established their position in the market by offering competent products. Along with this, they are making their presence strong in the market though strategies such as mergers, acquisitions, joint ventures and collaborations.