The Blood Coagulation Testing Market Insights and Overview By Product (Clinical Laboratory, and Automated), By Application (Bleeding Disorders, and Von Willebrand Disease), By Test Type (Testing kits), By End-User (Academic Institutions, and Hospitals) and By Region (North America, Europe, Asia-Pacific, And Rest Of The World) – Market Forecast Till 2032
Blood Coagulation/ Clotting prevents excessive bleeding during an injury or surgery. Coagulation tests measure blood’s ability and the duration it takes to clot. These tests help clinicians to assess the risk of excessive bleeding or developing clots (thrombosis) in the blood vessels. Clinicians frequently order coagulation tests to assess blood clotting function in patients before performing surgeries or in treatments of disorders related to arteries.
Coagulation tests help in determining the probable bleeding rate in the perioperative or postoperative period. These laboratory tests are also helpful in elucidating the cause of unexplained bleeding and predicting blood clotting or thrombosis in the absence of vessel injury. The global blood coagulation testing market appears to be well-established with the availability of many well-described assays. The market is growing pervasively over the past few years. The market is predominantly driven by the rising prevalence of the liver disease, von Willebrand disease (vWF), and hemophilia and increasing per capita healthcare expenses. Significant technological strides in testing devices led by the substantial investments transpired by the private & public organization are escalating the market on a global level, driving R&D activities.
According to Market Research Future (MRFR), the global Blood Coagulation Testing Market is expected to grow exponentially by 2032. In its recently published study, The blood coagulation testing market ize was valued at USD 2.5 billion in 2022 and is projected to grow from USD 2.64 Billion in 2023 to USD 3.94 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.7% during the forecast period (2023 - 2032).
Growing liver failure cases foster market growth, driving the demand for blood coagulation tests. Well-spread awareness about various diseases and disorders related to liver, hemophilia, and vWF driven through various governmental initiatives acts as a major tailwind pushing the growth of the blood coagulation testing market, further. Additional factors, such as the increasing population, sedentary lifestyle, and urbanization support market growth.
Market Segmentation
· The global market for blood coagulation is segmented on the basis of product, application, test type, and end user.
· The products available in the blood coagulation market are automated testing, clinical laboratory, and semi-automated testing.
· On the basis of application, the blood coagulation market has been segmented into acquired bleeding disorders, hemophilia, congenital bleeding disorders, and Von Willebrand disease.
· By test type, the global blood coagulation market trends have been segmented into various testing kits and others. Additionally, testing kits are sub-segmented into activated clotting time, D dimer, and fibrinogen, (FIB prothrombin time (PT).
· by end user, the global blood coagulation market is segmented into academic institutions, diagnostic laboratories, and hospitals.
Regional Analysis
The Americas dominates the global blood coagulation testing market owing to the increasing patient with liver disease, hemophilia, and von Willebrand disease (vWF). Additionally, in North America, the early adoption of advanced technology, increasing government initiatives for research and development activities, high health care expenditure, and the presence of several significant companies contribute to the growth of the blood coagulation market in this region during the evaluation period.
European region accounts for the second largest region in the global blood coagulation testing market Outlook and is likely to maintain its market share over the evaluation period. The notable growth of the region is owing to the increasing initiatives and expenditure of the government towards research and development activities. This is projected to continue to drive the European market over the forecast period. Additionally, developing countries such as Germany and France are increasing their investment in the healthcare domain to improve medical facilities.
The Asia Pacific (APAC) region is the fastest growing blood coagulation testing market over the assessment period. This is attributed to the presence of rapidly developing healthcare technology, expansion of medical infrastructure, a vast patient populace, and higher healthcare expenditure. Furthermore, increasing demand for the introduction of new treatment methods in countries like India, Japan, and South Korea is likely to contribute to the substantial market share over the review period. Additionally, growing demand for quality devices in the healthcare is anticipated to increase the adoption of advanced equipment, which, consequently, is likely to surge the growth of the market in the region during the forecast period.
the Middle East and Africa (MEA) region is accounted for the smallest market share over the review period. This is accredited to the increasing prevalence of blood disorders, which have become a massive problem owing to ignorance of diseases, lack of consumer awareness, limited screening, and poor access to treatment. The increase in government initiatives to improve the healthcare sector to offer necessary medical facilities, expand the infrastructure, and adopt advanced healthcare technologies, is expected to contribute substantially to the market share over the evaluation period. Additionally, the middle eastern developing countries are expected to contribute to the majority of the market share.
Key Players
The key players acknowledged in the global Blood Coagulation Testing Market players are Accriva Diagnostics (U.S.A.), Alere Inc. (U.S.), Bio/Data Corporation (U.S.), CoaguSense, Inc. (U.S.),F. Hoffmann-La Roche Ltd. (Europe), HomoSonics LLC. (U.S.), iLine Microsystems. (Europe), Instrumentation Laboratory (U.S.), Siemens Healthcare Private Limited (Europe), Sienco, Inc. (U.S.), SenGenix Inc. (U.S.).
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