Global Haptoglobin Reagent Market Overview
Haptoglobin is a kind of protein produced by the liver which is responsible for removing free hemoglobin from the blood stream. Low levels of it can can be related to hemolytic anemia and high levels may indicate inflammatory disease. Haptoglobin test is carried out to diagnose any of the above health conditions. It is done with the help of haptoglobin reagent and kits. The growing consciousness towards health-related issues and rising anemia cases require the testing of haptoglobin and hence increasing the demand for its reagents.
Global Haptoglobin Reagent Market Size, Forecast, and Trend Highlights Over 2022 - 2031
The global haptoglobin reagent market is estimated to garner significant revenue by the end of 2031 by growing at a CAGR of ~8% over the forecast period, i.e., 2022 – 2031. Further, the market generated notable revenue in the year 2021. The growth of the market is projected to the rising prevalence of anemia. World Health Organization (WHO) published a report showing that in 2019, 29.9% of women aged between 15 to 49 and 36.5% of pregnant women were found to be affected with anemia.
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Furthermore, the global haptoglobin reagent market is projected to grow on the back of various growth factors such as, renal and chronic diseases. Haptoglobin, an acute phase protein, is produced by the liver and binds up hemoglobin to prevent renal damage and iron loss. Haptoglobin is found at 45 milligrams per deciliter of blood and if it gets any lower than that, serious conditions can arouse within the body. Rising net national income per capita is further anticipated to propel the growth of the market over the forecast period. World Bank released a set of data showing 8,784 net national income per capita in 2020. National income per capita demonstrated by World Bank for each country in the similar year was Australia (39,193), Brazil (5,758), Canada (34,808), China (7,540), Germany (38,407), India (1,682), and others.
Global Haptoglobin Reagent Market: Growth Drivers and Challenges
Rising Cases of Kidney Disease to Hike the Growth of the Market
As of 2022, about 80,000 new cases of kidney cancer are estimated to be diagnosed.
Rising Geriatric Population with Severe Renal Diseases
Based on the report provided by World Bank, in 2020, the global geriatric population was 747,238,580.
Growing per Capita Healthcare Expenditure
World Bank released a set of data demonstrating the healthcare expenditure per capita to be USD 1,121.97 in 2019.
Higher Prevalence of Stomach Diseases
National Library of Medicine published a report showing that there were around 17.7 million cases of acute appendicitis in 2019.
Spiking Incidences of Autoimmune Hemolytic Anemia
It observed that warm autoimmune hemolytic anemia (WAHA) affects about 1 to 2 per 100,000 individuals every year.
- Availability of Alternative Diagnosis Methods
- Possibility of Side Effects
- Lack of Awareness Toward the Treatment
The global haptoglobin reagent market is segmented and analyzed for demand and supply by end-user into clinics, diagnostic laboratories, and hospitals, out of which, the hospitals segment is anticipated to hold the notable share in the global haptoglobin reagent market during the forecast period. The growth of the segment is attributed to the provision of better medical facilities. Hospitals have multiple departments available in a single place to run the requisite test. For instance, in 2018, the share of the USA in global health expenditure was estimated to be about 40% and for China, it was projected to be almost 10% in a similar year. Additionally, hospitals contain a higher patient pool compared to other end-user of the market.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Haptoglobin Reagent Market Regional Synopsis
Regionally, the global haptoglobin reagent market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in North America region is projected to hold the largest market share by the end of 2031. The market in the North America region is estimated to witness noteworthy growth over the forecast period on the back of rising cases of anemia and kidney diseases in the region. Data released by the National Hospital Ambulatory Medical Care Survey in 2018, 890,000 visits of people with anemia were noticed to the emergency departments in the United States. Furthermore, the rising mortality rate owing to anemia in the region is also anticipated to drive the growth of the market during the forecast period. Haptoglobin also prevents renal damage that is associated with kidney disease, meanwhile, a higher prevalence of kidney disease can be observed in the region. The National Kidney Foundation provided data, that in 2018, about 80 million adults were diagnosed with kidney diseases in the United States making it 1 out of 3 people. Hence, such factors are anticipated to foster the growth of the market over the forecast period.
The global haptoglobin reagent market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global haptoglobin reagent market includes the following segments:
Top Featured Companies Dominating the Global Haptoglobin Reagent Market
- Analytik Jena GmbH
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Sekisui Diagnostics, LLC
- Tecan Trading AG
- Beckman Coulter, Inc.
- Abbott Laboratories
- Danaher Corporation
- LAB MARK a.s.
- Kamiya Biomedical Company
- SDIX, LLC
- ADALTIS S.r.l.