Friday, 18 October 2019

North America & Europe to account for over 65% revenue share through 2028, says a market study of Automated ESR Analyzer

25 June 2019 | News

Growing availability of automated ESR analyzers with advanced and innovative technology has been boosting the laboratory workflow, in addition to improving the turnaround time, which is another strong factor pushing adoption of automated ESR analyzers at a global level.

Image Credit: Persistence Market Research

Image Credit: Persistence Market Research

A new research report projects that the global revenue of automated ESR analyzer market will account for revenues roughly equating US$ 495 Mn by the end of 2028. The rising prevalence of infectious diseases, advancements in technology, increasing healthcare spending, and growing elderly population susceptible to infections and diseases are some of the major factors responsible for driving the demand for automated ESR analyzers.

The report has envisaged nearly 5.3% CAGR for the revenue growth of the automated ESR analyzer market during 2018-2028. However, certain factors, such as the lack of skilled professionals and the absence of streamlined laws in developing regions continue to hamper the growth of the automated ESR analyzer market.

  • Fully automated ESR analyzers segment will hold a prominent share in the global automated ESR analyzer market revenue.
  • Portable automated ESR analyzers are likely to remain highly preferred over benchtop variants in the automated ESR analyzer market.
  • Hospitals and diagnostic laboratories are estimated to hold maximum revenue share in the automated ESR analyzer market, in terms of adoption

North America automated ESR analyzer market and the Europe automated ESR analyzer market are expected to collectively hold a share of over 65% of the global automated ESR analyzer market during the forecast period. This can be primarily attributed to the adoption of highly advanced technology and the consolidation of healthcare facilities in these regions.

Several regulatory bodies and governments of various countries, especially developed economies, are adopting numerous cost-containment measures to reduce their healthcare burden. Technological advancements are paving the way for the development of automated ESR analyzers from manual ESR analyzers, which is driving the global automated ESR analyzer market.

Growing availability of automated ESR analyzers with advanced and innovative technology has been boosting the laboratory workflow, in addition to improving the turnaround time, which is another strong factor pushing adoption of automated ESR analyzers at a global level.

Associated with the symptoms of an active form of cancers, it is highly likely that the demand for automated ESR analyzers will experience a constant high with the rapid increasing in prevalence of cancers. Moreover, automated ESR analyzers will also continue to receive strong demand owing to conditions such as inflammation, collagen vascular disease, infection, blood disease, diabetes, and heart disease.

However, due to negative results, people are becoming inclined toward alternative options, such as C-reactive protein, which provide a better indicator of inflammation as compared to ESR. The slow response of ESR to the acute phase reaction leads to early false negatives in an inflammatory process. In the US, around more than 100,000 deaths per year can be attributed to adverse drug reactions. The adverse and negative results of ESR owing to the effect of the consumption of certain drugs during the treatment, such as vitamin A, oral contraceptives, aspirin, and cortisone, makes automated ESR analyzers less desirable, and this is expected to hinder the growth of the global automated ESR analyzer market.

Some of the key players of the automated ESR analyzer market are Streck, Inc., Alifax Holding S.p.A., RR Mechatronics, Greiner Group (Greiner Bio One International GmbH), ALCOR Scientific Inc., Diesse Diagnostica Senese Spa, ELITechGroup, Beijing Succeeder Technology Inc., and SFRI Medical Diagnostics.

These insights are based on a report on Automated ESR Analyzer Market by Persistence Market Research

 

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