Global Coagulation Testing Market Expected to Surpass $3,566.0 Million and Grow at 5.9% CAGR in the 2019-2026 Timeframe [260-Pages] | Acclaimed by Research Dive

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14 Feb, 2023, 11:59 GMT

The global coagulation testing market is expected to grow by 2026 due to increasing incidence of chronic blood disease cases. Instruments sub-segment is expected to be the most dominant. Market in the Europe region is likely to be highly lucrative.

NEW YORK, Feb. 14, 2023 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Coagulation Testing Market, by Product Type (Instruments, Consumables), by Application (Prothrombin Time, Activated Partial Thromboplastin Time, Thrombin Time, And Activated Clotting Time), by End-Use (Hospitals, Clinical Laboratories, Point-of-Care Testing, Others), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026".

According to the report, the global coagulation testing market is predicted to register a revenue of $3,566.0 million by 2026, growing at a healthy CAGR of 5.9% during the forecast period 2019-2026.

Dynamics of the Market

Drivers: The massive increase in the number of chronic blood disease cases across the globe is predicted to boost the coagulation testing market in the forecast period. Additionally, rising demand for special hematology and coagulation laboratory is expected to drive the market forward.

Opportunities: Recent inventions like smartphone-enabled coagulation tests are expected to offer numerous growth opportunities to the market. Along with this, advanced technologies such as fluorescent microscopy, microfluidics, electrochemical sensing, and photoacoustic detection are predicted to help the market register substantial growth in the forecast period.

Restraints: According to market analysts, high cost of coagulation devices, however, may become a challenge in the growth trajectory of the coagulation testing market.

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Segments of the Market

The report has fragmented the coagulation testing market into a few segments based on type, application, end-use, and regional analysis.

  • By type, the instruments sub-segment of the coagulation testing market is anticipated to have the fastest growth rate and register a revenue of $1,718.8 million by 2026. Massive growth in diagnostic centers across the globe, enhanced diagnostic tools, and improved treatment monitoring ar predicted to boost the growth of this sub-segment in the forecast period.
  • By application, the prothrombin time sub-segment is predicted to garner the highest revenue and register $2,475.7 million by 2026. The rising prevalence of cardiovascular problems and blood disorders, along with increased demand for point-of-care testing is anticipated to push the growth rate of this sub-segment higher.
  • By end-use, the point-of-care testing sub-segment is anticipated to flourish immensely and garner $495.7 million by 2026. Perioperative coagulation point-of-care testing (POCT) reduces turnaround test times and also lessens inappropriate transfusion. These advantages provided by point-of-care testing is projected to augment the growth rate of this sub-segment in the forecast period.
  • By regional analysis, the coagulation testing market in the Europe region is estimated to be highly dominant and is projected to grow with a CAGR of 6.2%. Technological advancements in coagulation devices and high incidence of cardiovascular diseases are estimated to help the market grow substantially in this region.

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Prominent Market Players

Some prominent market players are

  • Thermo Fisher Scientific Inc.
  • F. Hoffmann-La Roche Ltd
  • Sysmex Corporation
  • Helena Laboratories Corporation.
  • NIHON KOHDEN CORPORATION.
  • BD.
  • Micropoint Biosciences
  • Abbott.
  • Danaher
  • Medtronic

These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth.

For example, in April 2020, Haemonetics, a leading global healthcare company, announced the acquisition of Enicor, a blood coagulation test system developer based in Germany. This acquisition will help to expand the already existing portfolio of Haemonetics and it will be able to cater to the demands of the healthcare sector in a much better way.

The report also sums up various crucial facets including the financial performance of the coagulation testing market players, SWOT analysis, product portfolio, and the latest strategic developments.

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