Global Thrombin Time Testing Market – Industry Trends and Forecast to 2030

Thrombin time testing Market Analysis and Size

The prevalence of cardiovascular diseases and blood disorders and the rise in the elderly population is anticipated to increase the market growth. It is witnessed that the consumable sub-segment is estimated to generate huge revenue during the forecast period. Also, many recent inventions, such as smartphone-enabled coagulation tests, are anticipated to increase the market's growth during the forecast period.

Data Bridge Market Research analyses that the global thrombin time testing market, which was USD 997.71 million in 2022, is expected to reach USD 1,740.05 million by 2030, at a CAGR of 7.2% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Thrombin time testing Market Scope and Segmentation  

Market Definition

Thrombin time testing mainly measures how long it takes for soluble fibrinogen to turn into fibrin threads. It evaluates the time required for the blood's plasma to form a clot after adding a standard amount of thrombin to the plasma. The test is conducted by reclassifying citrated plasma and adding thrombin. The time required to measure clot formation is in seconds.

Thrombin time testing Market Dynamics

Drivers

• Increasing Demand for Instruments

The increasing use of instruments is a major factor boosting market growth. The demand for instruments has increased massively since they are equipped with several new technologies essential in determining blood clotting time. For instance, the latest generation of coagulation analyzers is fully automated and incorporates numerous technologies into the same device. Moreover, the combination of many assay processes in a single piece of equipment and numerous commercially available analyzers capable of performing tests such as activated partial thromboplastin time, prothrombin time, D-Dimer, and fibrinogen is expected to boost the market size in the upcoming years. Thus, this factor boosts market growth.

Opportunities

• Increasing Incidence of CVD

Cardiovascular diseases (CVDs) are the top cause of death worldwide. Approximately 17.9 million people died from CVDs in 2019, accounting for 32% of all global deaths. Among this mortality rate, 85% were because of heart attack and stroke. Of the 17 million premature deaths because of non-communicable diseases in 2019, around 38% were caused by CVDs. This increasing rate of CVDs demanded the high usage of thrombin time testing, which helps predict the fibrinogen level. Thus, this factor boosts market growth.

• Increasing Rate of Partnerships between Market Players

Numerous partnerships are ongoing between market players and organizations that lead to market growth. For instance, Trivitron Healthcare, a renowned medical equipment supplier for the healthcare industry, announced its partnership with Diagon-Vanguard Diagnostics India in 2021. Diagon-Vanguard Diagnostics India is a top manufacturer of laboratory reagents, automated coagulators, and hematology analyzers. This collaboration will help the companies to launch new lines of coagulation analyzer products to expand the efficacy of patient management. Thus, this factor boosts market growth.

Restraints/Challenges

• Lack of Skilled Professionals

The lack of skilled professionals associated with these testing methods will hamper the market growth. Numerous complications in performing thrombin time testing lead to its restricted use as not enough professionals are available in every underdeveloped region. Thus, this factor impedes market growth.

This global thrombin time testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global thrombin time testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Thrombin time testing Market Scope

The global thrombin time testing market is segmented on the basis of product, technology and end-users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product

• Instruments
• Consumables
• Systems

 Technology

• Mechanical
• Electrochemical
• Optical
• Others

End-Users

• Diagnostic Laboratories
• Hospitals
• Clinical Laboratories
• POC T
• Home Care Settings
• Others

Thrombin time testing Market Regional Analysis/Insights

The global thrombin time testing market is analyzed and market size insights and trends are provided by product, technology and end-users as referenced above.

The countries covered in the global thrombin time testing market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Global in Global, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the thrombin time testing market due to the prevalence of major market players. Furthermore, the growing death rates from ischaemic heart disease and strokes are the primary factors anticipated to boost the regional growth of the market during the forecast period.

Asia-Pacific is projected to observe a significant growth in the thrombin time testing market because of the increasing customer base, and the increasing elderly population is further anticipated to boost the growth of the market.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Healthcare Infrastructure Growth Installed base and New Technology Penetration

The Global thrombin time testing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Global thrombin time testing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Global thrombin time testing market. The data is available for historic period 2011-2021.

Competitive Landscape and Thrombin time testing Market Share Analysis

The global thrombin time testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global thrombin time testing market.

Some of the major players operating in the global thrombin time testing market are:

• Abbott (U.S.)
• Danaher. (U.S.)
• B.D. (U.S.)
• Siemens Healthcare GmbH (Germany)
• Thermo Fisher Scientific, (U.S.)
•  HORIBA, Ltd. (Japan)
• NIHON KOHDEN CORPORATION (Japan)
• F. Hoffmann-La Roche Ltd (Switzerland)
• A&T Corporation (India)
• Helena Laboratories Corporation (U.S.)
• BPC BioSed S.R.L (Italy)
• Meril Life Sciences Pvt. Ltd (India)
• Haemonetics Corporation (U.S.)
• ACON Laboratories, Inc (U.S.)
• Coagulation Sciences LLC (U.S.)
• Shenzhen Micropoint Biotechnologies Co., Ltd (China)

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