Coagulation Testing Market to Reach USD 6.5 Billion by 2034: Surgical Interventions, Aging Population, and Economic Growth Boost Demand | TMR

Growing prevalence of blood disorders and chronic diseases drives demand for coagulation testing. 

WILMINGTON, Del., July 26, 2024 /PRNewswire/ -- The global coagulation testing market is estimated to flourish at a CAGR of 6.0% from 2024 to 2034. Transparency Market Research projects that the overall sales revenue for coagulation testing is estimated to reach US$ 6.5 billion by the end of 2034. The increasing number of surgical interventions, including complex procedures like cardiac surgeries and organ transplants, drives demand for coagulation testing to monitor patients' clotting status and reduce bleeding risks. 

As the global population ages, there is a growing need for coagulation testing among the elderly population, who are at higher risk of thrombotic events and coagulation disorders, driving market expansion. Rapid economic development and improved healthcare infrastructure in emerging markets lead to greater accessibility to coagulation testing, fostering market growth and catering to previously underserved populations.

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The coagulation testing market is witnessing robust growth due to the rising prevalence of liver diseases, cardiovascular conditions, and blood disorders. According to the American Liver Foundation, in the United States, 4.5 million adults (1.8%) have been diagnosed with liver disease. In 2020, 51,642 adults in the U.S. died from liver disease, which was the 12th leading cause of death.

Most of the important applications of these tests lie in the diagnosis and monitoring of unexplained bleeding, management of anticoagulant therapy, and assessment of the progression of liver disease. Growing demand for effective diagnostic tools in these areas is the market driver for expansion.

Today's discovery-oriented development includes exploring modern and dynamic point-of-care (POC) solutions that can determine a patient's coagulated status and be administered with all kinds of anticoagulants, including direct oral anticoagulants, in the shortest period. This is helping to ameliorate the patient's outcome and make procedures easier on the clinical front. This advancement has made point-of-care coagulation tests extremely valuable for the early detection of bleeding disorders and close monitoring of the effects of anticoagulant drugs. Vendors are developing advanced POC solutions based on these applications.

Clotting factors in blood important to coagulation testing include fibrinogen, prothrombin, thromboplastin, calcium, and antihaemophilic factors. Prothrombin is an important plasma protein always synthesized by the liver and is involved in coagulation. The population aged 65 and above is increasing, which is prone to cardiovascular and blood disorders.

Tests analyzing coagulation factors are very important in testing diseases like bleeding disorders or clotting disorders. These tests are performed to pinpoint the paucity of clotting factors and the advancement of liver diseases or a scarcity of vitamin K. An expected rise in demand is foreseen with the increase in consumer awareness regarding coagulation disorders and the rationale behind early diagnosis. In the meantime, a host of research and development activities are ongoing to introduce several more advanced and efficient coagulation-testing devices equipped with efficiency.

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Coagulation Testing Market Report Scope:

The rising preference for home-based healthcare solutions prompts the development of portable and user-friendly coagulation testing devices, enabling patients to monitor their clotting status conveniently, thereby expanding the market reach. Increasing emphasis on personalized medicine approaches drives the demand for coagulation testing tailored to individual patient profiles, facilitating targeted treatment strategies and optimizing therapeutic outcomes.

Coagulation Testing Market: Competitive Landscape

In the competitive landscape of the coagulation testing market, several key players vie for prominence. Industry leaders such as Siemens Healthineers, F. Hoffmann-La Roche AG, and Abbott Laboratories dominate with their comprehensive portfolios of coagulation testing instruments and reagents. 

Niche players like Sysmex Corporation and Helena Laboratories contribute innovative solutions tailored to specific testing needs. The market is characterized by intense research and development activities focused on enhancing testing accuracy, efficiency, and user-friendliness. Strategic collaborations, mergers, and acquisitions further shape the competitive dynamics, as companies strive to expand their market presence and meet the evolving demands of healthcare providers and patients globally. Some prominent players are as follows: 

• Hoffmann-La Roche Ltd.
• Abbott
• Siemens Healthineers
• Sysmex Corporation
• Universal Biosensors Inc.
• HemoSonics LLC
• Thermo Fisher Scientific Inc.
• Randox Laboratories Ltd.
• Horiba, Ltd.
• Agappe Diagnostics Ltd.
• Medtronic
• Helena Laboratories Inc. 

Product Portfolio

• Sysmex Corporation: Sysmex Corporation is a global leader in in-vitro diagnostics, offering innovative solutions for hemostasis and coagulation testing. Their product portfolio includes automated coagulation analyzers and reagents, delivering reliable and timely results to healthcare providers' worldwide, ensuring optimal patient care.
• Universal Biosensors Inc.: Universal Biosensors Inc. specializes in the development and manufacturing of innovative biosensor technology for point-of-care diagnostic testing. Their product portfolio includes rapid coagulation testing devices, providing accurate and timely results for thrombosis and hemostasis monitoring in clinical settings.
• HemoSonics LLC: HemoSonics LLC is dedicated to revolutionizing critical care diagnostics with their proprietary technology for assessing hemostasis. Their product portfolio includes the Quantra Hemostasis Analyzer, offering rapid and comprehensive coagulation testing solutions to aid clinical decision-making in acute care settings. 

Key Findings of the Market Report

• Consumables lead the coagulation testing market, driven by the continuous demand for reagents, kits, and other consumables for testing purposes.
• Prothrombin Time (PT) is leading the coagulation testing market, providing crucial insights into the extrinsic clotting pathway and coagulation status.
• Hospitals and clinics lead the coagulation testing market, offering comprehensive diagnostic services and managing a wide range of patient conditions.

Coagulation Testing Market Growth Drivers & Trends

• Stringent regulations mandating coagulation testing for patient safety and quality assurance drive market growth and demand for testing solutions.
• Increasing preference for rapid and convenient testing methods in healthcare settings fuels the adoption of point-of-care coagulation testing devices.
• Growing investments in healthcare infrastructure and diagnostics drive market expansion, supporting the procurement of coagulation testing equipment and services.
• Increasing need for comprehensive coagulation panels that assess multiple parameters simultaneously enhances market opportunities for multiplex testing solutions.
• Heightened emphasis on accuracy and reliability in diagnostic testing fosters demand for high-quality coagulation testing products and services. 

Global Coagulation Testing Market: Regional Profile

• In North America, particularly the United States, the market is driven by advanced healthcare systems and a high prevalence of chronic diseases necessitating frequent coagulation testing.
• Well-established diagnostic laboratories and hospitals dominate, offering a wide array of testing services and products. Stringent regulatory standards ensure the quality and reliability of coagulation testing devices and reagents, fostering market growth.
• Europe boasts a mature coagulation testing market, led by countries like Germany, France, and the United Kingdom. Here, the market benefits from robust healthcare infrastructure and extensive research and development activities.
• Technological advancements in testing methods and a focus on patient safety drive market expansion. Collaborations between academic institutions and industry players further stimulate innovation in coagulation testing solutions.
• In the Asia Pacific region, rapid economic development and increasing healthcare expenditure fuel market growth. Countries like China, India, and Japan witness rising demand for coagulation testing due to a growing burden of chronic diseases and improving access to healthcare services.
• Local manufacturers and international players capitalize on this trend by offering cost-effective testing solutions tailored to the region's diverse healthcare needs. 

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Coagulation Testing Market: Key Segments

By Product Type

• Instruments
• Consumables

By Test Type

• Prothrombin Time (PT)
• Activated Partial Thromboplastin Clotting Time (APTT)
• Thrombin Time (TT)
• Activated Clotting Time (ACT)
• Others

By End User

• Hospitals and Clinics
• Diagnostic Laboratories
• Home Care Settings
• Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa 

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