BIOCHEMISTRY ANALYZERS MARKET ANALYSIS

Market Challenges And Opportunities

Global Biochemistry Analyzers Market- Driver

Rise in research and development of novel emerging products

To avail the required tools in blood donation and plasma centers for enabling reliably test and process the samples that are coming in, the key market players are indulged in research and development activities, thus the global biochemistry analyzers market is expected to drive the market growth over the forecast period. For instance, in July 2020, Beckman Coulter, science and technology company, announced that its novel PK7400 automated microplate system analyzer and its reagents had received U.S. Food and Drug Administration clearance, which can be utilized in blood donation centers and large laboratories. The PK7400 Automated Microplate System offers the industry's highest throughput for a single analyzer and is available in countries across U.S., Canada, and Europe.

Global Biochemistry Analyzers Market: Restraint

Increase in product recall by the regulatory authorities

The major factors that can hamper the growth of the global biochemistry analyzers market over the forecast period include product recalls of biochemistry analyzers due to a potential Emicizumab carryover on patient samples. For Instance, in April 2021, U.S. Food and Drug Administration (FDA) recalled the product launched by Siemens Healthcare Diagnostics named BCS XP System which was used for in vitro coagulation system, intended to perform quantitative assays of specific parameters in plasma, the company has confirmed that BCS XP System may be affected by a potential Emicizumab carryover on patient samples.

Global Biochemistry Analyzers Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020.

COVID-19 has affected the economy in three main ways: by directly affecting the production and demand for biochemistry analyzers and medical devices, by creating disruptions in modality, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, UAE, Egypt, and others faced problems with regard to the transportation of biochemistry analyzers from one place to another.

Quarantine, traveling constraints, and social distancing measures are likely to lead to a steep decline in business and consumer spending. Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources which were required to ensure safety in hospitals and provide treatment to patients with other diseases. Though the overall impact on the healthcare market was positive. For Instance, In December 2020, Mindray, a medical device company introduced Mindray biochemistry D-Dimer assay, which had fully automated processing and reduced sample dilution, and improve efficiency. Additionally, there were an increase in hospitalization and laboratories as the number of patient visits increased with the usage of biochemistry analyzers, which is expected to affect the global biochemistry analyzers market over the forecast period.

Global Biochemistry Analyzers Market: Key Trends

Adoption of growth strategies such as collaboration and partnership

Key market players are adopting growth strategies such as partnerships and collaborations to launch new products and to provide actionable intelligence that streamlines compound synthesis, purification, screening, etc. This is expected to drive the biochemistry analyzers market growth over the forecast period. For instance, in January 2023, Biosero, a developer of laboratory automation solutions, and Virscidian, a developer of solutions to automate (Liquid chromatography and Mass spectrometry), announced a collaboration for medicinal chemistry applications in drug discovery, through which the companies will support fully automated analytical workflows.

Restraints & Challenges

The major factors that can hamper the growth of the global biochemistry analyzers market over the forecast period include product recalls of biochemistry analyzers due to a potential Emicizumab carryover on patient samples. For Instance, in April 2021, U.S. Food and Drug Administration (FDA) recalled the product launched by Siemens Healthcare Diagnostics named BCS XP System which was used for in vitro coagulation system, intended to perform quantitative assays of specific parameters in plasma, the company has confirmed that BCS XP System may be affected by a potential Emicizumab carryover on patient samples.