Global Biochemistry Analyzer Market Analysis 2024 – Estimated Market Size And Key Drivers

The Biochemistry Analyzer Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Biochemistry Analyzer Global Market Report 2024, The biochemistry analyzer market size has grown strongly in recent years. It will grow from $4.04 billion in 2023 to $4.31 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to increased incidence of chronic diseases, growing healthcare infrastructure, rising research and development activities, high demand for diagnostic accuracy, an aging population, and government initiatives.

The biochemistry analyzer market size is expected to see strong growth in the next few years. It will grow to $5.63 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to the emergence of personalized medicine, expansion in emerging markets, advancements in analytical techniques, rising focus on preventive healthcare, integration of AI and machine learning, increased investment in research, and demand for cost-effective solutions. Major trends in the forecast period include technological integration, miniaturization and portability, enhanced automation, personalized diagnostics, integration with healthcare IT systems, increased use of molecular diagnostics, and a focus on sustainability.

The rise in cases of cardiovascular disorders is expected to propel the growth of the biochemistry analyzer market going forward. Cardiovascular diseases refer to a group of disorders that affect the heart and blood vessels. These conditions typically involve narrowed or blocked blood vessels that can lead to various complications, including heart attack, stroke, and peripheral artery disease (PAD). The incidence of cardiovascular diseases rises with the rise in aging population, sedentary lifestyles, poor dietary choices, and high rates of obesity. A biochemistry analyzer aids in the diagnosis and management of cardiovascular disorders by providing accurate and timely measurements of key biomarkers, enabling healthcare professionals to monitor patient health, assess risk factors, and tailor treatment plans effectively. For instance, in January 2024, according to the American Heart Association, a US-based nonprofit organization, the total number of deaths caused by cardiovascular diseases reached 931,578, from 928,741 in 2023. Moreover, the age-adjusted death rate from cardiovascular disease also saw a modest increase, reaching 233.3 per 100,000 in 2024, marking a 4.0% increase 224.4 per 100,000 in 2023. Therefore, an increasing number of cardiovascular disorder cases is driving the biochemistry analyzer market.

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The biochemistry analyzer market covered in this report is segmented –

1) By Product Type: Semi-Automated, Fully-Automated
2) By Modality: Bench Top, Floor-Standing
3) By Application: Clinical Diagnostics, Bioreactor Byproduct Detection, Drug Development, Other Application
4) By End User: Hospitals, Diagnostic Centers, Pharmaceutical Companies, Biotechnology Companies, Academic Research Institutes, Contract Research Organizations

Major companies operating in the biochemistry analyzer market are focusing on developing immunoassay analyzer platforms to enhance diagnostic accuracy and reduce maintenance requirements. Immunoassay analyzer platforms measure specific biomarkers in biological samples through immunoassay techniques and provide high accuracy and sensitivity in detecting various conditions, thereby improving diagnostic efficiency and supporting comprehensive patient care. For instance, in May 2023, Beckman Coulter Inc., a US-based clinical diagnostics company, launched the DxI 9000 Access Immunoassay Analyzer, a cutting-edge platform designed to elevate laboratory performance. This next-generation analyzer is capable of running up to 215 tests per hour per square meter. It features advanced innovations such as PrecisionVision Technology for real-time data accuracy, ZeroDaily Maintenance for reduced upkeep, and IntelliServe for proactive remote service and diagnostics. The DxI 9000 enhances assay sensitivity with the Lumi-Phos PRO Substrate, and it supports rapid, accurate heart failure diagnosis through its NT-proBNP assay. This system is designed to meet the increasing demands for speed, reliability and precision in clinical laboratories.

The biochemistry analyzer market report table of contents includes:

1. Executive Summary
2. Biochemistry Analyzer Market Characteristics
3. Biochemistry Analyzer Market Trends And Strategies
4. Biochemistry Analyzer Market – Macro Economic Scenario
5. Global Biochemistry Analyzer Market Size and Growth
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32. Global Biochemistry Analyzer Market Competitive Benchmarking
33. Global Biochemistry Analyzer Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Biochemistry Analyzer Market
35. Biochemistry Analyzer Market Future Outlook and Potential Analysis
36. Appendix

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