Blood Coagulation Testing market Research Report Information 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 2030

Global Blood coagulation testing market Overview

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 3.89 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.7% during the forecast period (2023 - 2030). 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 Review

Blood Coagulation Testing Market Trends

• Increased cardiovascular and blood disorders to propel market growth

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.

Blood Coagulation Testing Market Segment Insights

Blood Coagulation Testing Product Insights

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.

Blood Coagulation Testing Application Insights

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

Blood Coagulation Testing End-User Channel Insights

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.

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.

1. Hoffmann-La Roche Ltd. is a Swiss multinational healthcare organization that offers a wide range of healthcare products and services, including pharmaceuticals and diagnostics. The company's mission is to improve people's health and well-being through innovative solutions in healthcare. Roche's Accu-Chek Guide is a blood glucose monitoring system designed to make monitoring blood glucose levels easier for people with diabetes. The system provided accurate and convenient results and was launched with the aim of helping patients better manage their diabetes and improve their quality of life.

Key Companies in the market of Blood coagulation testing include

• Danaher


• Abbott Laboratories


• Bios stem S.A.


• Helena Laboratories


• Siemens


• Hoffmann-La Roche


• Laboratory Corporation of America Holding


• Sienco Inc


• A&T Corporation

Blood Coagulation Testing Industry Developments

October 2021: The launch of Trivitron Healthcare's new line of coagulation analyzer products in India. The new products are expected to offer improved accuracy and efficiency in blood coagulation testing.

February 2021: A collaboration between Siemens Healthineers and Sysmex Corporation is expected to enhance the market position of both companies and strengthen their product portfolio in the hemostasis market. The agreement covers a broad range of hemostasis products and services, including supply, distribution, sales, and service, which is expected to benefit both companies in the long run.

Blood coagulation testing market Segmentation

Blood Coagulation Testing Product Outlook (USD Billion, 2018-2030)

• Clinical laboratory


• Automated

Blood Coagulation Testing Application Outlook (USD Billion, 2018-2030)

• Bleeding disorders


• Von Wille Brand diseases

Blood Coagulation Testing Test Type Outlook (USD Billion, 2018-2030)

• Testing Kits

Blood Coagulation Testing End-User Outlook (USD Billion, 2018-2030)

• Academic institutions


• Hospitals

Blood Coagulation Testing Regional Outlook (USD Billion, 2018-2030)

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America