The Blood Coagulation Testing market size was valued at USD 2.5 billion in 2022 and is projected to grow from USD 2.64 Billion in 2023 to USD 4.1 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.9% during the forecast period (2023 - 2032). The market is driven by factors such as increasing awareness of the healthcare system, growing demand for these devices in various parts of the world, and advancements in technology. The increasing number of surgeries, the growing number of blood disorder cases, and the rising demand for point-of-care testing are also expected to boost the market growth of blood coagulation testing. These are just a few of the market drivers that are driving the market.
Source: Secondary Research, Primary Research, MRFR Database and Analyst ReviewÂ
Factors such as rising consumer demand for these products in different regions and technological advances are propelling the market forward. The increased need for point-of-care testing, the rising incidence of blood disorders, and the rising number of surgical procedures are all factors that will contribute to the expansion of the blood coagulation testing market. Just a few of the factors that are propelling the market forward are listed above.
Several factors are contributing to the growth of the coagulation testing market. These include an increase in the prevalence of cardiovascular diseases and blood disorders, a higher rate of awareness and diagnosis, increased funding and investments from governments, a greater need for sophisticated diagnostic tools, an aging population, more research and development, and more healthcare facilities. Emerging economies and the growing reagent rental industry both present lucrative potential for market participants. Because of this, the market's CAGR is rising.
The demand for coagulation testing equipment is predicted to expand as a result of several factors, including the introduction of novel blood coagulation testing devices, the rise in the number of surgical procedures, and the rising number of blood transfusions. Market expansion in blood coagulation testing is being fueled not just by an aging population but also by an increase in the prevalence of disorders associated with blood clotting.
Market expansion is anticipated thanks, in part, to rising investments and government funding for updating healthcare facilities and a corresponding increase in emphasis on R&D. Another factor driving the blood coagulation testing market is the rising need for quick and precise findings, as well as the increasing popularity of point-of-care (POC) testing.
May 2023: A new generation of viscoelastic testing devices will be available in May 2023, allowing for rapid, on-the-spot evaluation of hemostasis. The VCM from Entegrion, Inc. (USA) is a viscoelastic coagulation monitor made to be used at the point of care. Accessibility, user-friendliness of operation, and outstanding portability set it apart from previous viscoelastic testing systems.Â
The growth of the coagulation testing market is driven by several factors, including the rise in cardiovascular diseases and blood disorders, increase in awareness and diagnostic rate, government funding and investments, high demand for advanced diagnostic techniques, growth in the geriatric population, R&D activities, and expansion of healthcare facilities. The rise in the reagent rental business and the growth of emerging economies also provide profitable opportunities for market players. Thus, this factor is driving the market CAGR.
In addition, the introduction of new and innovative blood coagulation testing devices, the growth in the number of surgical procedures, and the increasing number of blood transfusions are expected to boost the demand for coagulation testing devices. Furthermore, the rising demand for home-based testing, the increasing geriatric population, and the growing number of diseases related to blood clotting are also driving the market growth of the blood coagulation testing. The market players are expected to capitalize on favorable growth opportunities and expand their business operations through mergers, acquisitions, and strategic partnerships. The high competition and the requirement for substantial investments in research and development activities are the major challenges faced by the market players. Thus, it is anticipated that this aspect will accelerate Blood coagulation testing market revenue globally.
The market segments of blood coagulation testing, based on Product, includes Clinical laboratory, and Automated. The Clinical laboratory segment held the majority share in 2022 in the Blood Coagulation Testing market data. Additionally, the rise in the number of patients diagnosed with blood disorders and the increasing demand for precise and quick test results further fuel the growth of the clinical laboratory segment. The automated segment, on the other hand, is projected to grow at a rapid rate due to the increasing demand for automated systems that can reduce human error and improve the accuracy of results. The rise in technological advancements and the growing number of POC testing devices are also expected to drive the growth of the automated segment.
The Blood Coagulation Testing market segmentation, based on application, includes bleeding disorders, and Van Willebrand disease. Bleeding disorders dominated the market growth in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The growing prevalence of cardiovascular and blood disorders and the increasing need for timely and accurate diagnosis are expected to drive the market growth further. The rise in investments and government funds for modernizing healthcare facilities, along with the growing focus on research and development, is also expected to contribute to market growth. Moreover, the adoption of point-of-care (POC) testing and the increasing demand for rapid and accurate results also contribute to the market growth of the blood coagulation testing. In addition, advancements in technology and increasing awareness about the importance of regular coagulation monitoring also drive the market growth of blood coagulation testing. The increase in the geriatric population, who are more prone to blood disorders, and the growing demand for advanced and efficient diagnostic tools also create a positive impact on the market for blood coagulation testing.
Figure 2: Blood Coagulation Testing market, by Application, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The market data, based on end-user, include academic institutions and hospitals. The hospitals segment dominated the market revenue of blood coagulation testing in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The increased demand for these tests in hospitals is driving the market growth of blood coagulation testing. Additionally, the increasing number of surgical procedures, growing awareness about the significance of coagulation testing, and rising government initiatives to improve healthcare infrastructure are also driving the market growth of the blood coagulation testing in the hospital segment. November 2022: Innovate medical ultrasonography technology will be used by a cutting-edge point-of-care (POC) hemostasis system to evaluate the coagulation characteristics of a complete blood sample by the month of November 2022. Utilizing proprietary SEER sonorheometry, the revolutionary Quantra hemostasis analyzer platform developed by HemoSonics, LLC (USA) offers completely automated, rapid point-of-care viscoelastic testing and provides clinicians with the results they need at the POC to make better decisions. November 2022: Over USD 12 million was raised by Enzyre in November 2022 to further development of the EnzyPad, a gadget that may one day allow those with hemophilia A to track their blood clotting status in real time and from the comfort of their own homes. With the EnzyPad, patients with hemophilia can monitor their own blood coagulation status with just a few drops of blood and report their results to their care team remotely.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. North America Blood coagulation testing market accounted for USD 1.145 billion in 2022 with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. Furthermore, increasing investment by government bodies in the healthcare sector and increasing healthcare awareness among the population are also driving market growth of blood coagulation testing in this region. The increasing demand for cost-effective, accurate and timely coagulation tests is expected to create new growth opportunities for this region's blood coagulation analyzers market. The increase in the number of surgical procedures and blood transfusions, along with the growth of the senior population, is also attributed to the blood coagulation testing market growth.
Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 3: BLOOD COAGULATION TESTING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Blood coagulation testing market accounts for the second-largest market share. The increasing number of research and development activities, government support for healthcare, and the growth of healthcare facilities are further contributing to the market growth of the blood coagulation testing in the region. Moreover, UK market of Blood coagulation testing held the largest market share, and the Germany market of Blood coagulation testing was the fastest-growing market in the region.
Asia Pacific Blood coagulation testing market is expected to grow at the fastest CAGR from 2022 to 2030. The rise in the geriatric population and blood disorders in the Asia-Pacific region has led to an increased demand for coagulation testing, driving the growth of the market for blood coagulation testing in the region. The increasing awareness about the importance of early diagnosis and treatment, along with the growing investments in the healthcare sector in the region, is also expected to drive market growth of blood coagulation testing. Further, the China market of Blood coagulation testing held the largest market share, and the India market of Blood coagulation testing was the fastest growing market in the region.
Blood Coagulation Testing Key Market Players & Competitive Insights
Major market players are spending a lot of money on R&D to increase their product lines, which will help the market growth of Blood coagulation testing even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the blood coagulation testing industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
One of the primary business strategies adopted by manufacturers in the global blood coagulation testing industry to benefit clients and expand the market sector is to manufacture locally to reduce operating costs. In recent years, blood coagulation testing industry has provided medicine with some of the most significant benefits. The Blood coagulation testing market major player such as Danaher, Abbott Laboratories, Bios stem S.A., Helena Laboratories, and Siemens.
Siemens AG offers a wide range of products and services in various industries, including healthcare, energy, and infrastructure. Siemens is known for their blood coagulation analyzers and other hematology solutions that are widely used in hospitals, clinics and laboratory settings. They are continuously investing in research and development to improve their products and stay ahead of the competition. Siemens launched Sysmex CS-2500 System, which is designed for mid-volume laboratories and offers improved accuracy, faster test results and a more streamlined workflow. The launch of this product helped Siemens solidify its position in the global coagulation testing market and meet the growing demand for automated coagulation testing solutions.
Key Companies in the market of Blood coagulation testing include
Blood Coagulation Testing Industry Developments
November 2023Siemens Healthineers announces the launch of its new Atellica® Coagulation Analyzer, a fully automated coagulation analyzer that provides rapid and accurate results for a wide range of coagulation tests. The Atellica® Coagulation Analyzer is designed to help laboratories improve patient care by providing fast, reliable results that can be used to make timely treatment decisions.Roche Diagnostics announces the launch of its new cobas® hCG POC test, a point-of-care (POC) test that can detect human chorionic gonadotropin (hCG) in urine or plasma samples. The cobas® hCG POC test is designed to help healthcare providers quickly and easily diagnose pregnancy.Beckman Coulter announces the launch of its new Access® AccuSite™ Coagulation System, a next-generation coagulation system that provides accurate and reliable results for a wide range of coagulation tests. The Access® AccuSite™ Coagulation System is designed to help laboratories improve patient care by providing fast, reliable results that can be used to make timely treatment decisions.October 2023Bayer announces the launch of its new Xarelto® (rivaroxaban) Point-of-Care (POC) test, a POC test that can detect rivaroxaban in plasma samples. The Xarelto® POC test is designed to help healthcare providers quickly and easily monitor rivaroxaban levels in patients taking the drug.Abbott Laboratories announces the launch of its new Alinity™ hs-CRP assay, a high-sensitivity C-reactive protein (CRP) assay that can detect low levels of CRP in blood samples. The Alinity™ hs-CRP assay is designed to help healthcare providers diagnose and monitor inflammatory conditions.Stago announces the launch of its new STA Compact Max™ coagulation analyzer, a compact and versatile coagulation analyzer that provides accurate and reliable results for a wide range of coagulation tests. The STA Compact Max™ coagulation analyzer is designed for use in laboratories of all sizes.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 2.5 billion |
| Market Size 2023 | USD 2.64 billion |
| Market Size 2032 | USD 4.1 billion |
| Compound Annual Growth Rate (CAGR) | Â 5.9% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018 - 2021 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, Test type, End-user and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Danaher, Abbott Laboratories, Bios stem S.A., Helena Laboratories, and Siemens |
| Key Market Opportunities | ·        Technological developments in the blood coagulation testing |
| Key Market Dynamics | ·        Increased cardiovascular and blood disorders to propel market growth |
Blood Coagulation Testing Market Highlights:
Frequently Asked Questions (FAQ) :
The Blood Coagulation Testing market size was valued at USD 2.5 Billion in 2022.
The global market is projected to grow at a CAGR of 5.9% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Danaher, Abbott Laboratories, Bios stem S.A., Helena Laboratories, and Siemens.
The Clinical laboratory category dominated the market in 2022.
The hospitals had the largest share in the global market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
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