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Venkat Reddy
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Clinical Chemistry Analyzers Market to grow at a CAGR of 6.95% during the forecast period 2020-2025.
"Increasing Awareness for Preventative Healthcare, Increase in Aging Population, Increase in Reagent Rental Agreements Are the Key Factors Owing to Growth Of Clinical Chemistry Analyzers Market During Forecast Period 2020-2025.", 4/12/2021 - Clinical Chemistry Analyzers Market size was valued at $ 12.95Billion by 2019 and is anticipated to grow at a CAGR of 6.95% during the forecast period 2020-2025. The Clinical Chemistry Analyzers Market growth rate is attributed to Rapid growth in the diagnostics market, increase in healthcare spending, and increasing incidence in lifestyle disease is likely to accelerate the growth of the clinical chemistry analyzers market in the forecast period of 2020-2025. The computer-programmed instruments used to assess and evaluate sugar and protein levels found in the blood are clinical chemistry analyzers. These devices generate an accurate result within the least possible period as they have extremely advanced technology and are designed for that reason.The clinical chemistry analyzers run assays on clinical samples such as blood, plasma, urine, and cerebrospinal fluid in order to detect the presence of analytes relating to disease or drugs. The major factor driving the growth of the market includes rising geriatric population and increasing prevalence of chronic diseases. According to the United States Census Bureau’s Statistics, as of 2017, the total number of people aged 65 years and older exceeded 50 million, and between 2020 and 2030, the number of elderly people is projected to increase by almost 18 million. Although much smaller in total size, the number of people aged 85 years and older is expected to more than triple from an estimated 6 million, in the present scenario, to nearly 20 million by 2060.

Key Takeaways

North America dominated the Clinical Chemistry Analyzers Market with a share of 36.5% in the year 2019.

The factors such as increasing prevalence of chronic diseases, such as diabetes, increasing prevalence of chronic diseases, such as diabetes are amongst the major factor projected to impel growth of Clinical Chemistry Analyzers Market.

Increasing awareness for preventative healthcare, increase in aging population, increase in reagent rental agreements and increasing demand for laboratory automation are the key factors owing to the growth in the segment during forecast period 2020-2025.

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Clinical Chemistry Analyzers Market Drivers

Growing health care expenditure

Presently, the growing health care expenditure, rapid growth in the diagnostic market, and rising prevalence rates of lifestyle diseases, including diabetes and obesity, are the major factors contributing to the growth of the global market for clinical chemistry analyzers.

Clinical Chemistry Analyzers Market top 10 companies are Abbott Diagnostics, Beckman Coulter, Elitech Group, Horiba Ltd., Johnson & Johnson, Mindray Medical International Ltd., Ortho-Clinical Diagnostics, Randox Laboratories Ltd., Roche Diagnostics, Siemens AG, Thermo Fisher Scientific

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