Clinical Chemistry Market Size, Share & Industry Analysis, By Product Type (Instruments, and Reagents & Consumables), By Application (Electrolyte Panel, Basic and Comprehensive Metabolic Panels, Liver Tests, Renal Tests, Lipid Panel, and Others), By End-User (Hospitals & Clinics, Clinical Laboratories, and Others), and Regional Forecast, 2024-2032

The global clinical chemistry market size was valued at USD 13.47 billion in 2023. The market is projected to grow from USD 14.13 billion in 2024 to USD 21.46 billion by 2032, exhibiting a CAGR of 5.4% during the forecast period.

Clinical chemistry refers to the biochemical analysis of various body fluids including blood, serum, urine, and others for diagnosing and treating diseases among patients. It includes different instruments that use chemical reactions to identify or quantify levels of chemical compounds, such as electrolytes and lipid profiles in bodily fluids. Increasing diagnostic tests, such as liver and renal tests, for quantifying chemical compounds in bodily fluids are likely to support the growing adoption of clinical analyzers in the market.

• According to 2021 data published by the American Society for Microbiology, it was reported that more than 13.00 billion tests on various specimens including blood, urine, and tissue samples, are performed each year in the U.S. This is subsequently driving the demand for novel product launches in the market.

Additionally, the growing focus of key players on research and development activities to launch innovative analyzers for the quantification of chemical compounds among patients is supporting the growth of the market. 

The COVID-19 pandemic negatively impacted the global market due to the restrictions imposed by the government. Additionally, the restriction further led to decreased patient visits, resulting in reduced tests performed among patients. This, along with supply chain disruption among manufacturers of instruments, reagents & consumables also resulted in a decline in their annual revenue, thus decreasing the growth of the clinical chemistry market.

Clinical Chemistry Market Trends

Technological Advancement in Clinical Chemistry Analyzers

The increasing demand for novel technology for analyzers is prompting prominent players to focus on research and development activities in the market. Increasing R&D activities to launch these analyzers with advanced technology including high productivity and throughput, among others is expected to support the growing adoption of clinical chemistry analyzers.

The increasing number of launches, along with government approvals for these products is resulting in a preferential shift toward advanced analyzers for the early detection, treatment, and management of the disease among patients.

• For instance, in February 2023, Erba Mannheim launched its latest XL range of fully automated analyzers that incorporate state-of-the-art systems. These products are performance-oriented, boost lab productivity, and support a comprehensive test menu spanning various disorders.

Growing awareness and increasing R&D expenditure among critical players are further resulting in the introduction of technologically advanced analyzers in the market.

Thus, the trend is shifting toward technologically advanced products for the early detection of disease, including cardiovascular and urological disorders, among healthcare facilities, highlighting the clinical benefits of these products.

Clinical Chemistry Market Growth Factors

Increasing Prevalence of Chronic Disorders Globally to Augment Market Growth

The increasing prevalence of disorders such as cardiovascular disease is leading to an increase in the number of patient visits to hospitals and clinics. Increasing patient admissions is resulting in the growing number of diagnostic procedures among patients, further supporting the increasing adoption of clinical analyzers.

• For instance, according to 2023 data published by the Centers for Disease Control and Prevention (CDC), it was reported that about 1 in 20 adults aged 20 and older is suffering from cardiovascular diseases.

Additionally, the growing technological advancement of the analyzers is driving the focus of key players toward R&D activities to launch innovative clinical analyzers.

• For instance, in July 2023, Siemens Healthineers AG launched Atellica CI analyzer for immunoassay and clinical chemistry testing, aiming to provide a compact testing system to tackle lab challenges among healthcare facilities.

Along with this, the increasing benefits of clinical analyzers, including precision and accuracy in the early detection of disorders, and others is likely to aid the growing demand for these products in the market. Moreover, increasing acquisitions and collaborations among the major players in the market with an aim to strengthen its presence is likely to contribute to the growth of the market.

Thus, the growing number of research activities, along with growing collaborations among key players for manufacturing clinical chemistry analyzers, is expected to spur the adoption of these products during the forecast period.

RESTRAINING FACTORS

High Cost Associated with Clinical Chemistry Analyzers to Limit Adoption

Despite the growing demand for these analyzers globally, certain factors are hampering the growth of the market. The high cost associated with the analyzers is one of the significant factors limiting the adoption of these devices in the market.

• For instance, according to Shenzhen Mindray Bio-Medical Electronics Co., Ltd., the cost of BS-240 biochemistry fully automated analyzer lies in the range of USD 3,000.0 – 6,000.0 per piece.

Along with this, growing technological advancement for these analyzers is also aiding the growing cost for these products, thus hampering the adoption for these products in the market, especially in emerging countries such as China, India, and others. This, coupled with increasing maintenance cost for these analyzers, is likely to hamper the demand for these products in the market.

Thus, high cost, along with limited adoption of technologically advanced analyzers in emerging countries, is a significant factor limiting the growth of the market.

Clinical Chemistry Market Segmentation Analysis

By Product Type Analysis

Increasing Product Launches of Reagents & Consumables Led to Market Dominance

Based on product type, the market is segregated into instruments and reagents & consumables. The reagents & consumables segment held the lion’s share of the market in 2023. This dominance is attributed to the growing adoption of testing kits in diagnostic procedures for improved accuracy and precision. This, along with, increasing focus of key players toward launching innovative testing kits, including reagents and kits, is likely to support the growth of the segment in the market.

• For instance, in November 2021, Medix Biochemica launched a new range of diagnostic reagents to diagnose several disorders among patients in Germany.

On the other hand, the instruments segment is also growing in the market. The growth is owing to increasing prevalence of chronic disorders such as cardiovascular, liver disorders, resulting in increasing patient admissions in healthcare facilities. Furthermore, the growing adoption of analyzers in healthcare facilities is expected to spur the growth of the segment.

By Application Analysis

Liver Tests Segment Dominated owing to Higher Number of Liver Tests Performed Among Patients

Based on application, the market is segmented into electrolyte panel, basic and comprehensive metabolic panels, liver tests, renal tests, lipid panel, and others. The liver tests segment dominated and accounted for the highest market share in 2023. The increasing prevalence of liver disorders such as non-alcoholic fatty liver disease, and others is resulting in the number of tests in the market. Increasing patient admissions and the rising number of diagnostic procedures are driving the growing adoption of these analyzers in the market.

• According to a 2023 study published by the Journal of Hepatology, it was reported that 83.7% of patients were suffering from metabolic dysfunction associated with liver disease among 9,606 participants.

The lipid panel and renal tests segments are also growing due to increasing number of diagnostic procedures performed for accessing renal function and lipid panel profiles to detect diseases among patients. This, along with the growing number of clinical laboratories adopting advanced analyzers for the early detection of cardiovascular and kidney-related diseases, is expected to support the growth of the segment.

Additionally, electrolyte panel, basic and comprehensive metabolic panels, and others segments are also growing due to the increasing preference of patient population toward routine electrolyte check-ups to identify early signs of health issues or prevent further growth of the disease. Additionally, growing awareness of the health routine check-up, among patients is likely to support the growing adoption of these analyzers, thus contributing to the growth in the market.

By End-User Analysis

Increasing Adoption of Clinical Chemistry Analyzers Among Clinical Laboratories Supports Segmental Dominance

Based on end-user, the market is segmented into hospitals & clinics, clinical laboratories, and others. The clinical laboratories segment dominated and accounted for the highest market share in 2023. The increasing number of clinical laboratories, resulting in growing adoption of these analyzers, contributing to the market growth.

• For instance, according to 2023 data published by the American Clinical Laboratory Association, there are approximately 322,488 clinical laboratories in the U.S.

The hospitals & clinics segment is anticipated to grow with a considerable CAGR during the study period. The growth is owing to a rising patient admissions for the diagnosis of chronic conditions including cardiovascular diseases, among others in hospitals & clinics across the globe. This results in increased diagnostic procedures performed in these settings, supporting the growing adoption of these products among healthcare facilities.

Similarly, the clinical laboratories and others segment are also expected to grow at a faster rate during the forecast period. This growth is due to rapid healthcare infrastructure development, along with an increasing number of clinical laboratories, resulting in a growing number of clinical tests performed in the market. Furthermore, increasing demand for clinical tests is leading key players to focus on launching advanced instruments in the market, thus supporting segmental growth.

REGIONAL INSIGHTS

Based on geography, the market is analyzed across Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.

The market size in North America stood at USD 4.78 billion in 2023, with regional dominance driven by the increasing demand for clinical chemistry analyzers among the population. The increasing demand is resulting in the rising adoption of these analyzers among healthcare facilities for early detection, management, and treatment of a disease. Moreover, the growing acquisitions and collaborations among key players are resulting in an increasing penetration rate of products among healthcare facilities. These are some of the factors contributing to the growing adoption of analyzers in the region.

• For instance, in February 2021, Thermo Fisher Scientific, Inc., partnered with Mindray, a global developer, manufacturer, and supplier of medical devices, with an aim to offer Mindray’s clinical chemistry analyzers in the U.S. and Canada for drug screening in clinical laboratories in the countries.

Europe contributed a considerable share of the market in 2023 owing to an increasing prevalence of certain disorders such as cardiovascular diseases among the patient population. Increasing prevalence is resulting in the growing number of diagnostic procedures among patients along with government initiatives to promote the diagnosis of various diseases, which is further supporting the growing adoption of these analyzers in the market.

• For instance, according to 2024 statistics by the British Heart Foundation, it was reported that there are more than 7.6 million people suffering from heart or circulatory disorders in Europe.

Asia Pacific is anticipated to grow with a considerable CAGR during the forecast period. Increasing demand for these analyzers is resulting in the growing focus of key players on research and development activities to launch novel products in the market.

• For instance, in September 2022, Sysmex launched the UF-1500 fully automated urine particle analyzer, with an aim to deliver a wide range of solutions specific to customer’s preference in Japan.

List of Key Companies in Clinical Chemistry Market

Increasing R&D activities Among Major Players is Responsible for their Dominant Share

The current scenario of the industry is consolidated, with various players offering a wide range of analyzers in their portfolios. Strong brand presence, coupled with receiving approvals for these analyzers, is offering immense growth opportunities for players, including Abbott, F. Hoffmann-La Roche Ltd., and Thermo Fisher Scientific Inc., among others during the forecast period.

• For instance, in August 2023, Abbott received U.S. FDA approval for the Alinity H-series diagnostic instrument for complete blood counts.

Additionally, certain other players, such as Siemens and Sysmex Corporation, are focusing on expanding their distribution channels to strengthen their geographical presence. This is expected to increase their global clinical chemistry market share during the forecast period.

• For instance, in January 2023, Siemens established a new R&D center in Ireland, intending to support laboratories and hospitals with innovative laboratory diagnostic equipment.

Apart from that, the growing focus on inorganic growth strategies including acquisitions and mergers among the major players operating in the market is expected to contribute to the growth of players such as Shenzhen Mindray Biomedical Electronic Co. Ltd., ELI Tech Group, and others in the market.

• For instance, in July 2023, Shenzhen Mindray Bio-Medical Electronics Co., Ltd. acquired Germany-based DiaSys Diagnostic Systems GmbH to strengthen its in-vitro diagnostic product portfolio.

Thus, the growing adoption of these analyzers among healthcare facilities owing to an increasing number of R&D activities is a major factor expected to augment the global clinical chemistry market growth of other players.

LIST OF KEY COMPANIES PROFILED:

• Thermo Fisher Scientific Inc. (U.S.)


• Abbott (U.S.)


• Danaher Corporation (U.S.)


• F. Hoffmann-La Roche Ltd. (Switzerland)


• Siemens (Germany)


• HORIBA Ltd. (Japan)


• Shenzhen Mindray Biomedical Electronic Co. Ltd. (China)


• Sysmex Corporation (Japan)


• Nova Biomedical (U.S.)


• Bio-Rad Laboratories, Inc. (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• January 2023 – Horiba Ltd. launched three new clinical chemistry analyzers with an aim to expand its product offerings.


• January 2023 – Carolina Liquid Chemistries, Corp. partnered with Diazyme Laboratories, Inc., a provider of testing kits for diagnosis of cardiovascular disease and liver disease, to expand the test menu on the Diazyme DZ-Lite c270 benchtop analyzer.


• May 2022 ­– Shenzhen Mindray Bio-Medical Electronics Co., Ltd. launched the Powerful yet Efficient BS-600M chemistry analyzer with an aim to strengthen its product portfolio.


• September 2021 – F. Hoffmann-La Roche Ltd, launched Cobas Pure Integrated Solutions Analyser with an aim to offer more than 230 tests across various disease areas.


• March 2021 – Horiba Ltd., acquired MedTest Dx and Pointe Scientific with an aim to expand its offerings for products globally.

REPORT COVERAGE

The global market report provides detailed market insights on various market segments, including product type, application, and end-user, and focuses on critical aspects such as company profiles, SWOT analysis, and applications. Besides this, it offers insights into the market dynamics, trends and highlights strategic market growth analysis. In addition to the factors mentioned above, the report encompasses several factors that have contributed to the growth of the market in recent years.

REPORT SCOPE & SEGMENTATION

ATTRIBUTE	DETAILS
Study Period	2019-2032
Base Year	2023
Estimated Year	2024
Forecast Period	2024-2032
Historical Period	2019-2022
Growth Rate	CAGR of 5.4% from 2024 to 2032
Unit	Value (USD Billion)
Segmentation	By Product Type Instruments Reagents & Consumables
By Application Electrolyte Panel Basic and Comprehensive Metabolic Panels Liver Tests Renal Tests Lipid Panel Others
By End User Hospitals & Clinics Clinical laboratories Others
By Region North America (By Product Type, Application, End-User, and Country) U.S. (By Product Type) Canada (By Product Type) Europe (By Product Type, Application, End-User, and Country/Sub-region) U.K. (By Product Type) Germany (By Product Type) France (By Product Type) Italy (By Product Type) Spain (By Product Type) Scandinavia (By Product Type) Rest of Europe (By Product Type) Asia Pacific (By Product Type, Application, End-User, and Country/Sub-region) China (By Product Type) Japan (By Product Type) India (By Product Type) Australia (By Product Type) Southeast Asia (By Product Type) Rest of Asia Pacific (By Product Type) Latin America (By Product Type, Application, End-User, and Country/Sub-region) Brazil (By Product Type) Mexico (By Product Type) Rest of Latin America (By Product Type) Middle East & Africa (By Product Type, Application, End-User, and Country/Sub-region) South Africa (By Product Type) GCC (By Product Type) Rest of the Middle East & Africa (By Product Type)