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Coagulation Testing Market – Predicts High Growth with Increasing Demand from Emerging Sectors by 2027

Pune, New York, USA, November 30 2020 (Wiredrelease) Research Dive –:As per the study of Research Dive, coagulation testing market forecast a revenue of $3,566.0 million in the year 2026 growing at healthy CAGR of 5.9%.

Coagulation test is primarily carried out by a coagulometer that detects blood clotting time and blood’s ability to clot. Consistent technological advancements in coagulation testing devices is driving the growth of the market. The growing prevalence of various blood clotting disorders, such as deep vein thrombosis (DVT), and hemophilia along with rise in aging population across the globe are the significant growth factors for the coagulation testing market. On the other hand, factors such as lack of expertise in this filed and higher costs of coagulation test devices are expected to obstruct the growth of the coagulation testing industry. Blood clot level plays a crucial role in human body as it helps in treatment of multiple diseases such as stroke, diabetes and others. IoT enabled healthcare devices have the ability of real time monitoring of blood coagulation, which helps to keep the patient’s activity under the therapeutic range with reduction of risk factor. Key advantage of this device is that it helps the patient to quickly monitor blood clots. It also lowers the risk of bleeding problems of diabetic patients. This IoT enabled application has facility to remind patients to test their clot level, which helps in reduction of risk factors. These coagulation testing market trends are anticipated to create lucrative opportunities for the growth of global coagulation testing industry.

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Consumable type has the major share in global Coagulation Testing market; it will generate a revenue of $1,847.2 million by the end of 2026, at a CAGR of 5.6% till 2026. Coagulation Testing market size of instruments segment will generate a revenue of $1,718.8 million by 2026, increasing at a CAGR 6.3%. Remarkable advances and vast R&D efforts from manufacturers result in improvisation of reliable analyzers. This has been increasing the demand for high precision and advanced coagulation analyzers at a steady pace; these factors are expected to drive the growth of the global market. Furthermore, these analyzers are fully automated, and also can perform immunologic and chromogenic assays. These significant factors are expected to grow the global market.

Prothrombin time segment has a major share and is expected to generate a revenue of $2,475.7 million by the end of 2026, growing at a CAGR of 5.5%. Clotting time tests such as prothrombin time are majorly performed in hospital setting for perspective reason of hemostatic evaluation for multiple reasons. Moreover, Prothrombin time tests are carried out to assess the risk of thrombosis or bleeding and to monitor response to anticoagulant therapy in patients. These tests are mainly useful to diagnose and treat multiple bleeding and clotting disorders and also used to monitor the efficacy of various anticoagulants. These benefits from prothrombin time tests are estimated to spur the coagulation testing market growth. Thrombin time segment for global market shall cross $392.3 million in 2026, growing at a healthy CAGR 7.3%.

Hospitals segment has a major market share and is expected to generate a revenue of $1,290.9 million by the end of 2026, growing at a CAGR of 5.6%; this is mainly owing to massive demand for comprehensive medical care and vital innovation in therapeutic techniques. In addition, significant patient support along with affordable care for patients are making positive impacts on the growth of global market.

Point-of-Care testing will generate a revenue of $495.7 million by 2026, growing at a CAGR 6.8%. Enhancement in blood coagulation analyzers along with rising number of professionals in the development of POC (point-of-care) devices is projected to boost the growth of global market. Rising popularity for trend of self-monitoring and raised availability of POC devices for hospitals are also anticipated to fuel the demand for global market.

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Asia-Pacific market will cross $848.7 million in 2026, increasing at a CAGR of 6.4%. The market share of this region is projected to increase at a fast rate because of massive expansion of healthcare centers and hospitals and major patient population. Moreover, market players are focusing more on the innovations in the coagulation tests and devices, for instance, Japan based company, Sysmex launched new Products called ‘Automated Blood Coagulation Analyzers CN-3000 and CN-6000’. This device offers enhanced levels of reliability and productivity, in turn responding to various customer needs and advanced quality in the field of hemostasis; these advances in technology are projected to augment the growth of Asian market.

Europe coagulation testing market share is dominant and it is expected to grow at a CAGR of 6.2% by registering a revenue of $1,094.8 million by 2026.

Europe region is focusing more on the recent innovation and excellent strategies are anticipated to drive the European Market growth. Since the past 25 years, the number of CVD (Cardiovascular disease) cases has increased in Europe mainly due to rise in the fat consumption. In addition, levels of obesity are high across Europe in both adults and children. These health issues are projected to augment the growth of market of Europe region.

Some of the leading market players are: Medtronic, Micropoint Biosciences, Helena Laboratories Corporation., Thermo Fisher Scientific Inc., Abbott., F. Hoffmann-La Roche Ltd, BD., NIHON KOHDEN CORPORATION., Sysmex Corporation, and Danaher. Significant coagulation testing companies are initiating various steps in order to strengthen their presence such as merger & acquisitions and new product development. For example, Micropoint Bioscience launched Micropoint Bioscience Point of Care Devices in which relatively small blood volume is required for coagulation monitor. To highlight on the competitive landscape analysis of multinational establishments, the porter’s five force model is discussed in the report.

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Last Updated: 30-Nov-2020