Publishing: May 2021 | Report Code: LS10485 | Available Format: PDF
The increasing prevalence of various blood clotting disorders, such as deep vein thrombosis (DVT), hemophilia and thrombophilia, and growing aging population around the world are the predominant growth drivers for the global coagulation testing market. Additionally, the technological advancements in coagulation testing devices and initiatives taken by various government associations to raise awareness about various blood disorders and its management are also driving the growth of the market. The increasing numbers of mergers and acquisitions is one of the major trends observed in the market. In terms of testing service providers, hospitals hold the largest share in the global coagulation testing market.
Coagulation testing procedures are used to measure the ability of blood to develop clot in blood vessel. Testing helps doctors to assess the risk of excessive bleeding and developing clots, also known as thrombosis, in blood vessels. Various types of coagulation tests exists, and the major types include complete blood count (CBC), fibrinogen level, Factor V assay, prothrombin time (PT or PT-INR), platelet count, thrombin time, and bleeding time.
The stringent regulations for the approval of coagulation testing devices, high cost of fully automated hemostasis equipment, and risk of side-effects associated with blood testing are restraining the growth of the global market. Moreover, the lack of awareness about innovative and advanced applications of coagulation testing devices and slow adoption of advanced hemostasis instruments are also hindering the growth of the market, especially in the developing countries. However, the countries such as China and India are expected to witness considerable growth during the forecast period, due to growing geriatric population and increasing incidences of blood clotting disorders.
North America and Europe are the major markets of coagulation testing, due to rapid launch of anticoagulants, increasing incidences of blood clotting disorders, and growing demand for coagulation testing devices. The U.S., followed by Canada is the largest market for coagulation testing in North America. Whereas, Germany, the U.K., France, and Italy are some of the major countries holding significant shares in the European market.
The Asian market is growing with a significant rate, owing to increasing prevalence of blood disorders, growing aging population, and increasing healthcare spending in the region. In addition, the initiatives taken by various government associations to raise awareness about various blood disorders and its management are also supporting the growth of the Asian coagulation testing market. The countries, such as India, Japan, and China are the major markets in the region.
Apart from these regions, Latin America is another important market for coagulation testing. This is due to increasing R&D investments in the manufacturing of coagulation devices and anticoagulants in low manufacturing cost regions, including Latin America.
Some of the major players operating in the global coagulation testing market include Alere Inc., Thermo Fisher Scientific Inc., Sysmex Corporation, Siemens AG, F. Hoffmann-La Roche AG, Abbott, Axis-Shield Diagnostics Ltd., Danaher Corporation, Becton, Dickinson and Company, Bio/Data Corporation, and Chrono-Log Corporation.
Coagulation Testing Market Segmentation
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