Coagulation Testing Market
Coagulation Testing Market (Product - Instruments, Consumables; Test Type: PT, APTT, TT, and ACT; End User - Hospitals and Clinics, Diagnostic Laboratories, and Home Care Settings) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Press Release :
Rising prevalence of geriatric population, cardiovascular diseases, and blood disorders are contributing to high adoption rate of coagulation testing. Further, high demand for point of care (POC) coagulation testing and technological advancement in the coagulation testing is adding to growth of the market.
As per market analysts, blood coagulation testing market is anticipated to grow at a lucrative rate due to development of healthcare infrastructure coupled with increased healthcare expenditure.
Meanwhile, nowadays people are involved in preventive healthcare rather than proactive healthcare. Hence, people are undergoing medical tests periodically. This, in turn, is fuelling the demand for haemostasis analyzers.
Registering the trend, the players are also focussing on providing quality testing kits.
Moreover, rapid expansion of healthcare infrastructure in developed and emerging economies is one of the key driving factors aiding to growth of the market. Availability of advanced coagulation testing kit, with ability to conduct tests with high accuracy is another major driving factor.
Favourable government policies favouring best healthcare delivery in several region is promoting the use of such kits.
On the other hand, high cost of such devices is likely to limit adoption rate. Further, strict regulations for approval of testing devices are restraining the growth of the market.
However, rising demand for disposable coagulation testing equipment is presenting lucrative growth opportunities in near future.
Distribution channels are playing significant role in expansion of the coagulation testing market. The kit is easily available at offline drug stores. Meanwhile, emerging e-commerce platforms is enhancing visibility of the product.
Cost-effectiveness and highly reliable kits are likely to spur the market growth in coming years.
Coagulation Testing Market: Snapshot
Blood testing measuring the blood’s ability to clot and the time taken for the same is known as coagulation testing. Clotting disorders can cause excessive bleeding or clotting and can thus be fatal in either scenario. Coagulation testing is ordered if the physician suspects clotting disorders. There are a number of bleeding disorders which are either acquired or inherited, the most common among them being hemophilia, blood factor deficiency, etc.
The global market for coagulation testing was worth US$1,730 million in 2016, and is expected to exhibit a solid 9% CAGR in the 2017-2025 forecast period to end up at a valuation of US$3,715.8 million.
Bleeding disorders can cause abnormal bleeding, therefore it is of the utmost importance to diagnose the disorders and monitor the coagulation status. The global coagulation testing market is witnessing significant growth due to growing prevalence of blood clotting disorders in many regions and the rise in cardiovascular disorders, which can also require regular coagulation testing.
PT Testing Likely to Dominate Coagulation Testing Market
The global coagulation testing market is segmented on the basis of product type into instruments and consumables. Consumables accounted for over 80% of the global coagulation testing market in 2016. The segment is anticipated to dominate the coagulation testing market throughout the forecast period. On the basis of test type, the coagulation testing market is segmented into PT, APTT, TT, ACT, and others. The PT test segment accounted for the highest share, accounting for over 70% of the coagulation testing market in 2016.
Based on end user, the global market is segmented into hospitals and clinics, diagnostic laboratories, home care settings and others. The diagnostic laboratories segment is anticipated to expand at a fast CAGR of close to 10% during the forecast period, while hospitals and clinics are likely to remain the leading contributor to the coagulation testing market.
APAC to Exhibit Rapid CAGR despite Dominance of North America, Europe
Geographically, North America and Europe are the major regions where revenue is derived from coagulation testing. The U.S., the U.K., and Germany show high adoption rates of coagulation testing instruments such as analyzers, POC testing PT monitors, etc. due to rise in awareness amongst people about the importance of detecting and monitoring their coagulation status, high prevalence of cardiovascular diseases, and the availability of a favorable reimbursement scenario. The coagulation testing market is likely to be valued at more than US$1 bn in both North America and Europe by 2025, with the two being valued at US$678.2 mn and US$569.2 mn in 2016, respectively.
The coagulation testing market in Asia Pacific is said to be at a primary stage. It is anticipated that Asia Pacific will gain significant market share over the forecast period. Some of the key driving forces for coagulation testing market in emerging countries in the region are rising awareness, increasing population, entry of new players focusing on emerging markets, and increase in healthcare funding. The Asia Pacific market for coagulation testing is expected to exhibit a robust 10.8% CAGR over the 2017-2025 forecast period, rising from a 2016 valuation of US$358.1 mn to US$891.8 mn by 2025.
Some of the key players in the global coagulation testing market are Alere Inc., F. Hoffmann-La Roche Ltd., Abbott Laboratories, Siemens Healthineers, SYSMEX CORPORATION, Universal Biosensors, Inc., HemoSonics, LLC, and Helena Laboratories, Inc. Testing with high specificity and accuracy is likely to remain a major factor in the global coagulation testing market.
Global Coagulation Testing Market: Overview
This report provides forecast and analysis of the coagulation testing market on the global and regional levels. It provides historical data of 2016 along with forecast from 2017 to 2025 in terms of revenue (US$ Mn). The report also includes macroeconomic indicators along with an outlook on coagulation testing globally. It includes drivers and restraints of the coagulation testing market and their impact on each region during the forecast period. The report also comprises of the study of current issues with end users and opportunities for coagulation testing manufacturers in the global market.
In order to provide users with comprehensive view of the market, we have included detailed competitive analysis and market players with unique selling propositions. The competitive dashboard included in the report provides detailed comparison of coagulation testing manufacturers on parameters such as product offerings, revenue, key strategies, and recent developments. The study encompasses market attractiveness analysis, by product type, by test type, by end users and region.
Global Coagulation Testing Market: Segmentation
The report includes revenue generated from sales of coagulation testing in all regions and important countries in the regions. By product type, the global coagulation testing market has been segmented into instruments and consumables. On the basis of test type the coagulation testing market is segmented into PT, APTT, TT, ACT and others. On the basis of end users, the global coagulation testing market is segmented into hospitals and clinics, diagnostics laboratories, home care settings and others. Geographically, the market is segmented into regions viz. North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Global Coagulation Testing Market: Scope and Research Methodology
Market value for global coagulation testing have been estimated based on utility of coagulation testing for all product types. The revenue is forecasted through regional pricing trends. Market size and forecast for each segment have been provided in the context of global and regional markets. The coagulation testing market has been analyzed based on expected demand. Most of the key end users have been considered and potential applications have been estimated on the basis of secondary sources and feedback from primary respondents. Regional demand patterns have been considered while estimating the market for various end users of coagulation testing in different regions. Top-down approach has been used to estimate the coagulation testing market size, and bottom-up approach has been used to validate the market number. The market has been forecasted based on constant currency rates. A number of secondary sources consulted during the course of the study include Factiva, NCBI, Google books, company annual reports, websites, white papers, and publications.
Global Coagulation Testing Market: Competitive Dynamics
The report provides detailed competitive dashboard and company profiles of key participants operating in the global market. Some of the key players in the global coagulation testing market include Alere Inc., F. Hoffmann-La Roche Ltd., Abbott Laboratories, Siemens healthineers, SYSMEX CORPORATION, Universal Biosensors, Inc., HemoSonics, LLC, Helena Laboratories, Inc. and others.
Global Coagulation Testing market is segmented as below:
By Product Type
By Test Type
By End Users