Global Coagulation Testing Market – Industry Trends and Forecast to 2030

Coagulation Testing Market Analysis and Size

The rise in the prevalence of cardiovascular diseases and blood disorders among the population across the globe acts as one of the major factors driving the growth of the coagulation testing market. The rise in awareness about these conditions improving the diagnostic rate and preventive care management and the increase in government funds and investments for procuring and installing such medical devices into their public healthcare facilities accelerate the market growth. The rise in hemophilia among people and growth in the base of medical device installation further influence the market. Additionally, the rise in the geriatric population, high demand for better and advanced diagnosis techniques, research and development activities, and healthcare facilities expansion positively affect the coagulation testing market. Furthermore, the rise in the reagent rental business and emerging economies extend profitable opportunities to the market players in the forecast period.

Data Bridge Market Research analyses that the coagulation testing market which was USD 3,328.12 million in 2022, and would rocket up to USD 5,847.86 million by 2030, and is expected to undergo a CAGR of 7.3% during the forecast period. This indicates that the market value. “Hospitals” dominates the end user segment of the coagulation testing market owing to the growing demand for the drug. 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.

Coagulation Testing Market Scope and Segmentation

Market Definition

Coagulation tests refer to the type of tests utilized to calculate the blood's ability to clot and the time duration required to clot. The technique assists in analyzing the risk of excessive bleeding or thrombosis. Coagulation problems could occur because of hemophilia, thrombophilia and liver diseases, among others. Some of the most common types of coagulation testing are complete blood count, thrombin time, fibrinogen level, platelet count, and others.

Global Coagulation Testing Market Dynamics

Drivers

• Increasing prevalence of chronic blood diseases

 The cases of chronic blood diseases are growing exponentially and will likely drive the worldwide coagulation testing market. The coagulation testing market will likely increase because of the need for coagulation laboratories and specialized hematology. Innovation technologies like fluorescence microfluidics, microscopy, photoacoustic detection, and electrochemical sensing make point-of-care devices and POC tools measure blood clotting's mechanical, optical, and electrochemical components.

 Coagulation tests are mainly performed by a coagulometer, which analyses the ability of the blood to clot and the blood clotting time. These tests reduce the chances of heart attack, thrombosis, and embolism by detecting the presence of blood clots in blood vessels.

The increase in the prevalence of chronic diseases such as immune disorders and cardiovascular diseases is owing to drive the market. It is projected that rising cardiovascular issues and chronic blood illnesses will promote the global coagulation testing market size in the upcoming years.

For instance, a study by the World Health Organization (WHO) has stated that cardiovascular diseases (CVDs) account for about 31% of all patient mortality each year.

• Rising geriatric population

Expanding geriatric population worldwide is predicted to favor coagulation testing demand as this population is more prone to heart diseases. The number of persons above 65 years is projected to double in the coming years. Old age people are prone to various chronic diseases, such as cardiovascular diseases, endovascular diseases, orthopedic disorders, and dental disorders, which can foster the demand for coagulation testing across the globe.

According to the United Nations, there were around 382 million old age people aged 60 years or above across the globe in 2017, and this number is expected to be 2.1 billion by 2050.

• Advancement of therapies for the treatment

Advancement of therapies for the treatment are the expected factors that will increase the growth of the coagulation testing market. An alarming increase in the rate of coagulation being nonpersistent to monitoring visits and therapy results in more demand.

Moreover, it is anticipated that the market for coagulation testing will exhibit lucrative growth, as several market participants are focusing on R&D to develop novel treatments. Participants are actively engaged in extensive research and development to develop novel drugs to treat various heart disorders and gain a larger market share. As the number of individuals with diseases continues to rise at an alarming rate, there is a growing demand for novel therapies and treatments.

Opportunities

Furthermore, an increase in government funds and support for target research activities, rising clinical trials and rising product innovations and development owing to technological advancements all around the world will extend profitable opportunities for the market players in the forecast period of 2023 to 2030. The demand for specialized hematology and coagulation laboratories is projected to drive the coagulation testing market growth. Modern technologies, including fluorescence microscopy, microfluidics, electrochemical sensing, and photoacoustic detection, are used to construct point-of-care (POC) devices. POC tools measure blood clotting's optical, mechanical, and electrochemical components. These technical developments are anticipated to expedite the market expansion for coagulation testing in the future.

Restraints/Challenges

On the other hand, stringent government regulations and the high risk and costs associated with tests and treatments are expected to obstruct market growth. This limits the usage to only the population that is economically capable and has a negative impact on the global coagulation testing market. Moreover, the lack of skilled labor and higher cost of devices may affect the global market growth. Several studies have declared that the test results at the central laboratories are more reliable than the tests by the Point of Care Coagulation Testing (POCCT) devices, which are further projected to challenge the market in the forecast period of 2023-2030.

This coagulation testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the 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 coagulation 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.

Recent Development

• In March 2021, Thermo Fisher Scientific, an American manufacturer and supplier of scientific instrumentation, reagents and consumables, and software devices, announced its collaboration with Artificial Inc., a leading developer of flexible automation software. With this collaboration, the companies aimed to develop an integrated and comprehensive software automation platform for Covid-19 testing to reduce the spread of the disease and restore economies and communities.

Global Coagulation Testing Market Scope

The coagulation testing market is segmented on the basis of product, test, technology, application and end user. 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
• Reagents And Standards
• Controls
• Calibrations

Test

• Complete Blood Count (CBC)
• Factor V Assay
• Fibrinogen Level
• Prothrombin Time
• Platelet Count
• Thrombin Time
• Bleeding Time
• Others

Technology

• Optical Technology
• Mechanical Technology
• Electrochemical Technology
• Others

Application

• Activated Clotting Time (ACT)
• Thrombin Time (TT)
• Partial Thromboplastin Time (PTT)
• Activated Partial Thromboplastin Time (APTT)
• Prothrombin Time (PT)
• Other Tests

End-User

• Hospitals
• Clinical Laboratories
• Point-of-Care Testing
• Others

Global Coagulation Testing Market Regional Analysis/Insights

The coagulation testing market is analysed and market size insights and trends are provided by country, product, test, technology, application and end user, as referenced above.

The countries covered in the coagulation 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 Europe in Europe, 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 is expected to dominate the coagulation testing market due to the favorable healthcare resources and the prevalence of cardiometabolic disorders such as Deep Vein Thrombosis (DVT) within the region.

Asia-Pacific is expected to grow at the highest growth rate during the forecast period of 2023 to 2030 due to the rising aging population, increase in the prevalence of chronic diseases such as immune disorders and cardiovascular diseases, the development of point-of-care (POC) coagulation testing, and a rise in laboratory automation in the region.

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, and 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, the 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 coagulation testing market also provides you with detailed market analysis for every country's growth in healthcare expenditure for capital equipment, installed base of different kinds of products for the coagulation testing market, the impact of technology using lifeline curves and changes in healthcare regulatory scenarios and their impact on the coagulation testing market. The data is available for the historic period 2015-2020.

Competitive Landscape and Coagulation Testing Market Share Analysis

The coagulation 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 coagulation testing market.

Some of the major players operating in the coagulation testing market are:

• Thermo Fisher Scientific Inc. (U.S.)
• Helena Laboratories Corporation. (U.S.)
• Micropoint Biosciences (U.S.)
• Medtronic (Ireland)
• F. Hoffmann-La Roche Ltd (Switzerland)
• NIHON KOHDEN CORPORATION (Japan)
• Abbott (U.S.)
• Sysmex Corporation (Japan)
• BD (U.S.)
• Danaher (U.S.)

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