June 19, 2024
Automated Analyzers Market

Automated Analyzers Market Driven by Increasing Need for Disease Diagnosis

Automated analyzers are laboratory instruments that analyze biological samples without manual intervention. They are used to analyze biochemical reactions required for medical diagnoses. Automated analyzers provide accurate results in less time through automation of all routine tasks involved in biomedical analysis, thereby enhancing efficiency and productivity of laboratories. Growing prevalence of lifestyle diseases such as diabetes, cancer, and cardiac ailments has increased the need for disease diagnosis and screening. This has driven the demand for automated analyzers in healthcare facilities and diagnostic laboratories.

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 2024 to 2031.

Key Takeaways

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.

The growing incidence of chronic and infectious diseases has increased the demand for disease diagnosis and screening. This is fueling the adoption of Automated Analyzers Market Size in clinical laboratories for large volume testing. Advantages such as efficiency, accuracy, and quick turnaround time offered by automated analyzers are boosting their popularity over conventional medical diagnostic methods.

Leading players in the market are focusing on geographic expansion into emerging nations of Asia Pacific, Latin America, and Middle East & Africa. Increasing healthcare expenditure and improving public healthcare infrastructure in developing regions is expected to drive the automated analyzers market during the forecast period.

Market Key Trends

Technological advancements are a key trend shaping the automated analyzers market. Players are integrating advanced technologies such artificial intelligence, robotics, and IoT in analyzers to develop next-generation systems. For instance, Beckman Coulter launched UniCel DxH 800 analyzer with AI capabilities to provide faster results and improve laboratory workflow.

The increasing focus on miniaturization of devices is another notable trend. Market players are developing compact and portable analyzers to enable point-of-care testing. Portable devices facilitate on-site disease screening and reduce turnaround time. For example, EKF Diagnostics launched NAVIOS-Plus portable analyzer for critical care testing.

Porter’s Analysis

Threat of new entrants: Moderate barrier due to high capital investment required and established brand loyalty of key players.

Bargaining power of buyers: Moderate as few large players dominate the supply. However, availability of substitutes provides options to buyers.

Bargaining power of suppliers: Low to moderate as supply chain is fragmented and automated analyzers do not require unique components.

Threat of new substitutes: Low as automated analyzers have proven clinical effectiveness and are considered gold standard in clinical diagnostics.

Competitive rivalry: High rivalry due to presence of few large players and me-too products. Players compete on technology innovation, geographic expansion and brand loyalty.

The automated analyzers market in North America region accounted for the largest share in terms of value in 2024. This is attributed to rising incidence of chronic and infectious diseases necessitating clinical diagnostic testing, developed healthcare infrastructure, and presence of leading market players in the region. Asia Pacific region is poised to witness fastest growth during the forecast period owing to growing geriatric population, improving healthcare expenditure, rising awareness about diagnostic therapies, and expansion of key players in emerging economies.

Geographically, North America and Western Europe regions hold the major share of the global automated analyzers market currently due to developed healthcare infrastructure and ongoing technological advancements. The Asia Pacific region is anticipated to record fastest growth rate during the forecast period on account of increasing healthcare expenditure, rapidly aging population, favorable government policies and growing penetration of major players in developing countries.

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