The major growth driver identified in the biochemistry analyzers market is growing demand for these analyzers in hospitals, and pharmaceutical companies. With the rising numbers of patients with kidney diseases, liver failures, and diabetes, demand for analysis of blood biochemistry parameters of these patients is also increasing. As a result, demand for these analyzers has also been growing.
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Growth of the biochemistry analyzers market is hindered by factors such as its complex system integration is complex and high upfront cost. High upfront cost has dented its attractiveness among price sensitive customers in countries from Asia-Pacific.
Product innovation related analyzers that can detect DNA molecules in the samples is identified as future growth opportunity for the biochemistry analyzers market.
On the basis of both value and volume, North America dominated the market in 2017. High penetration of these analyzers in countries such as U.S. and Canada are attributed to its strong base of pharmaceutical and healthcare sector. From supply side, many of the producers of biochemistry analyzers are located in this region and they have strong distribution channel penetration across hospitals, diagnostics centers, pharmaceutical and biotechnology companies, and academic research institutes.
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Some of the major players operating in the global biochemistry analyzers market are Abbott, Siemens AG, Thermo Fisher Scientific, HORIBA, Ltd., F. Hoffmann-La Roche Ltd, Beckman Coulter Inc., Hologic, Inc., Danaher Corporation, Meril Life Sciences Pvt. Ltd., and Randox Laboratories Ltd.
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