AUTOMATED ANALYZERS MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Automated Analyzers Market Size and Trends

Global automated analyzers market is estimated to be valued at USD 2.88 Bn in 2024 and is expected to reach USD 5.56 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.

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Global automated analyzers market is expected to witness significant growth due to increasing incidence of chronic and infectious diseases globally. Technological advancements focused on development of compact, efficient, and high-throughput automated analyzers can boost sales of these systems. Adoption of decentralized or point-of-care testing using automated analyzers is also expected to increase in the near future.

Increasing Government Initiatives

Increasing government initiatives is expected to drive the market growth over the forecast period. For instance, in November 2023, The Embassy of the Republic of Korea (RoK) donated fully automated biochemistry analyzers worth US$ 402,500 to Nepal. The official handover ceremony was held at the Ministry of Health and Population, Government of Nepal, in the presence of Dr. Roshan Pokhrel, Secretary of the Ministry of Health and Population, and Mr. Park Tae-Young, Ambassador of the Republic of Korea in Nepal. Secretary Pokhrel accepted the donation on behalf of the Nepali government.

The key market players are focused on expanding their product portfolio to strengthen their geographic presence in the market by launching new products, and this is expected to drive the market growth. For instance, on January 29, 2024, Beckman Coulter Diagnostics, a healthcare company, announced its plan to introduce the DxC 500 AU Chemistry Analyzer, a cutting-edge automated clinical chemistry system, at the Medlab Middle East event held from  February 5-8, 2024, at the Dubai Exhibition and Trade Center in the United Arab Emirates.