Blood Coagulation Testing Market Overview

On the flip side, high costs of these tests and poor reimbursement policies are impeding the market growth, especially in the developing regions. Besides, the unmet clinical needs alongside the unavailability of external funding are obstructing the market growth.

Additionally, factors such as the ever-increasing population, sedentary lifestyle, and urbanization support the market growth. Improving economic conditions substantiate the market growth, availing access to excellent healthcare and increasing the healthcare expenditures.

Coagulation tests help in determining the probable bleeding rate in the perioperative or postoperative period. These laboratory tests are also helpful in elucidating the cause of unexplained bleeding and predicting blood clotting or thrombosis in the absence of vessel injury. The global blood coagulation testing market appears to be well-established with the availability of many well-described assays. The market is growing pervasively over the past few years. The market is predominantly driven by the rising prevalence of the liver disease, von Willebrand disease (vWF), and hemophilia and increasing per capita healthcare expenses. Significant technological strides in testing devices led by the substantial investments transpired by the private & public organization are escalating the market on a global level, driving R&D activities.

According to Market Research Future (MRFR), the global Blood Coagulation Testing Market is expected to grow exponentially by 2027. In its recently published study, MRFR also asserts that the market would register approximately 5.7% CAGR throughout the assessment period (2020 – 2027). Growing liver failure cases foster market growth, driving the demand for blood coagulation tests. Well-spread awareness about various diseases and disorders related to liver, hemophilia, and vWF driven through various governmental initiatives acts as a major tailwind pushing the growth of the blood coagulation testing market, further. Additional factors, such as the increasing population, sedentary lifestyle, and urbanization support market growth.

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Blood Coagulation Testing Market Segmentation

• MRFR has segmented its analysis into five key dynamics for the convenience of understanding;

   

  By Products             : Clinical Laboratory, Automated Testing, and Semi-Automated Testing among others.

  By Applications     : Congenital Bleeding Disorders, Acquired Bleeding Disorders, Von Willebrand Disease, and Hemophilia among others.

  By Test Types         : Testing Kits {segmented into prothrombin time (PT), activated clotting time, D dimer, and fibrinogen (FIB)} and others.

  By End-Users          : Academic Institutions, Hospitals, Diagnostic Laboratories, and others.

  By Regions           :  Europe, North America, APAC and the Rest-of-the-World (RoW).

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Blood Coagulation Testing Market Regional Analysis

The North American region is projected to retain its dominance over the global blood coagulation testing market holding the largest market share. A well-developed healthcare sector, increasing prevalence of liver disease, von Willebrand disease (vWF), and hemophilia along with the high per capita healthcare expenditures especially in the US & Canada, drive the market growth in the region.

Simultaneously, huge technological advances and increasing government support for research & development are positively impacting the market growth in the region. Furthermore, owing to the presence of prominent market players this market is expected to create a large revenue pocket throughout the forecast period (2017-2023).

The European blood coagulation testing market backed by the presence of well-established players and investments transpired into R&D activities, stands at the second largest position, globally. This market is growing due to the well-spread awareness about the various diseases and disorders related to liver, hemophilia, and vWF.  Furthermore, initiatives undertaken by private and public organizations to spread awareness towards keeping good health are impacting the market growth positively.

The Asia Pacific region is rapidly emerging as a lucrative market for blood coagulation testing.  Factors substantiating the growth of the regional market include increasing healthcare expenditures and favorable government policies mainly in India and China.

Furthermore, factors supporting the market growth include the substantial investment transpired into R&D activities, huge patient population, rapidly developing healthcare infrastructure and government support. Simultaneously, augmenting demand for quality devices in healthcare is expected to increase the growth of the blood coagulation testing market in the region.

Key Players

The global blood coagulation testing market is led by some of the fervent players including Alere Inc. (U.S.), F. Hoffmann-La Roche Ltd. (Europe), Siemens Healthcare Private Limited (Europe), CoaguSense, Inc. (U.S.), Accriva Diagnostics (U.S.A.), HomoSonics LLC. (U.S.), Instrumentation Laboratory (U.S.), iLine Microsystems. (Europe), SenGenix Inc. (U.S.), Sienco, Inc. (U.S.), and Bio/Data Corporation (U.S.). 

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