Author: Vikas Kumar
January 17, 2023
A medical gadget called a haemoglobin monitor counts the number of haemoglobin molecules in a patient’s blood. Red blood cells need haemoglobin, a crucial molecule, to transport oxygen throughout the body. Anemia, which can result in symptoms like exhaustion and breathlessness, can be indicated by a low haemoglobin level. Dehydration or polycythemia, a condition where there are too many red blood cells in the bloodstream, can both be indicated by a high haemoglobin level. Doctors can identify and treat these disorders with the aid of a haemoglobin monitor. The US FDA approval of compact size hemoglobin monitors in the recent past is expected to drive the hemoglobin monitors market. The availability of small hemoglobin monitors is expected to reduce the cost and ultimately generate more demand for the hemoglobin monitors during the forecast period.
The Hemoglobin Monitor Market is expected to grow at a steady rate of around 8% during the forecast period (2022-2028) owing to the surge in the incidence of chronic diseases such as anemia and diabetes. According to the World Health Organization, there were around 490 million people in world who suffered from diabetes in 2019. The incidence of diabetes is currently being catalysed by a surge in geriatric population, poor dietary habits, sedentary lifestyles, and rising levels of obesity. Patients suffering from diabetes need to undergo tests to measure blood glucose and HbA1c levels regularly, driving the demand for such tests. These factors are driving the hemoglobin market during the forthcoming years.
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Based on type, the market is segmented into handheld, benchtop, and modular. Among these, the benchtop category is expected to hold a significant share in the market. A benchtop hemoglobin monitor is a type of medical device that is used to measure the amount of hemoglobin in a person’s blood. This device is typically used in hospitals and clinics, as it provides accurate results within minutes. The main advantage of using a benchtop hemoglobin monitor is that it is quick and easy to use, which makes it ideal for use in emergencies. Due to its widespread use, segmental growth is increasing during the forecast period.
Based on end-user, the hemoglobin monitor market is segmented into hospitals, ambulatory surgical centers, speciality clinics, and home care settings. The specialty clinic category is expected to grow with a high CAGR during the forecast period due to rising awareness among individuals regarding preventive healthcare along with the surge in government initiatives for reducing healthcare expenditure in various countries.
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For a better understanding of the market adoption of the hemoglobin monitor industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to grow at a substantial CAGR during the forecast period due to due to the rise in diabetes research organizations and associations in the region. Apart from this, the surge in the prevalence of diabetes and other chronic diseases and rising initiatives regarding wellness programs that require employees to undergo routine medical testing in the region.
Some of the major players operating in the market include Masimo Corporation; Bayer AG; Siemens Healthineers; Welch Allyn, Inc.; Koninklijke Philips N.V; Medtronic plc; Nihon Kohden Corporation; GE Healthcare; Smith’s Group and Omron Healthcare; and Hill-Rom Holdings.
Global Hemoglobin Monitor Market Segmentation
Market Insight, by Type
• Handheld
• Bench Top• Modular
Market Insight, by End-User
Market Insight, by Region
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