Singapore Haematology Market Insights Forecasts to 2033

• The Singapore Haematology Market Size was valued at USD 5.4 Million in 2023.
• The Market Size is growing at a CAGR of 7.28% from 2023 to 2033
• The Singapore Haematology Market Size is expected to exceed USD 10.9 Million by 2033

The Singapore Haematology Market Size is anticipated to exceed USD 10.9 Million by 2033, growing at a CAGR of 7.28% from 2023 to 2033. The increasing incidence of blood disorders, advancement in diagnostic procedures, and treatment alternatives, and growing geriatric population are driving the growth of the haematology market in Singapore.     

Market Overview

Haematology refers to blood and blood disorders. The market comprises of diagnosis and monitoring of blood-related disorders in patients. Anaemia, leukaemia, lymphoma, and coagulation disorders are examples of hematological illnesses that can have serious health effects. Prompt and precise diagnosis is necessary for effective medical interventions. The development of next-generation sequencing (NGS) technology that analyzes several genes at once quickly and accurately, allows for a thorough evaluation of the genetic alterations linked to different blood illnesses. Additionally, new targeted medicines that directly target the mechanisms underlying some blood malignancies have been developed as a result of haematological advancements. Further, precision medicine—a method that customizes treatment according to each patient's own molecular profile—has become increasingly popular, especially in the case of haematological malignancies.

Report Coverage

This research report categorizes the market for the Singapore haematology market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Singapore haematology market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Singapore haematology market.

Driving Factors

The increasing number of cases of blood disorders and blood cancers, such as anaemia, iron deficiency or overload, haemochromatosis, bleeding disorders, and myelodysplasia are contributing to driving the market growth. For instance, compared to the preceding five-year period, the number of instances increased by 1.9 per 100,000 population for males and 2.5 per 100,000 population for females between 2015 and 2019. Additionally, the most prevalent cancer diagnosed in men and women under 30 was lymphoma. The surging advancement in diagnostic procedures including next generation sequencing, ultra-deep PCR and whole genome and exome sequencing for efficient detection of hematological diseases are driving the market growth. The introduction of advanced hematological cancer treatment such as bone marrow transplantation, chemotherapy, CAR T cell therapy, and targeted therapy are contributing to propelling the market.

Restraining Factors

The increased cost of advanced hematology equipment due to its sophisticated system and, the need for upgrading equipment and training personnel are challenging the haematology market. Further, the stringent regulatory compliance that causes delays in new product launches is responsible for hampering the market.

Market Segmentation

The Singapore Haematology Market share is classified into reagent and product.

• The coagulation reagents segment is anticipated to dominate the market during the forecast period.

The Singapore haematology market is segmented by reagent into coagulation reagents, flow cytometry reagents, immuno-hematology reagents, and others. Among these, the coagulation reagents segment is anticipated to dominate the market during the forecast period. In order to perform coagulation tests that help identify and track individuals with clotting problems, several reagents are necessary. The increasing number of surgeries, prevalence of blood disorders, and demand for point-of-care testing are contributing to driving the market in the coagulation reagents segment.

• The hematology analyzers segment is dominating the market with the largest market share during the forecast period.       

Based on the product, the Singapore haematology market is divided into hematology analyzers, flow cytometers, coagulation analyzers, slide stainers, centrifuges, hemoglobinometers, and others. Among these, the hematology analyzers segment is dominating the market with the largest market share during the forecast period. These analyzers are very effective at quickly and accurately determining hematological parameters, detecting abnormalities, and providing thorough blood cell counts. The growing incidence of blood-related illnesses and cardiovascular diseases as well as the growing need for effective diagnostic tools are enhancing the use of hematology analyzers.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Singapore haematology market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Abbott Laboratories
• Sysmex Corporation
• Roche Diagnostics
• Siemens Healthineers
• Bio-Rad Laboratories
• Thermo Fisher Scientific Inc.
• HORIBA Ltd.
• Ortho Clinical Diagnostics
• Agilent Technologies
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In September 2024, PharmaEssentia Corporation, a global biopharmaceutical innovator leveraging deep expertise and proven scientific principles to deliver new biologics in haematology and oncology, announces the availability of BESREMi (ropeginterferon alfa-2b) in Singapore.

Market Segment

This study forecasts revenue at Singapore, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the Singapore Haematology Market based on the below-mentioned segments:

Singapore Haematology Market, By Reagent

• Coagulation Reagents
• Flow Cytometry Reagents
• Immuno-hematology Reagents
• Others

Singapore Haematology Market, By Product

• Hematology Analyzers
• Flow Cytometers
• Coagulation Analyzers
• Slide Stainers
• Centrifuges
• Hemoglobinometers
• Others