New York, USA, Dec. 15, 2020 (GLOBE NEWSWIRE) -- According to a Research Dive published report, the global coagulation testing market valued for $2,241.4 million in 2018 and is estimated to surpass $3,814.3 million by 2026, exhibiting a CAGR of 7.1% from 2019 to 2026.
Impact on Market Due to Outbreak of COVID-19
The global coagulation testing industry is predicted to witness an increase in growth rate during the forecast period, due to the COVID-19 outbreak. As per the report, the coagulation testing market was likely to rise at a CAGR of 5.9% from 2019 to 2026 prior to COVID-19 crisis. Now, due to the COVID-19 pandemic, the global market is projected to rise at a CAGR of 7.1% over the forecast period.
This is mainly due to the extensive utilization of coagulation testing procedures in clinical laboratories and hospitals for hematology and diagnosis of thrombosis. Comprehensive analysis on drivers, challenges, opportunities, restraints, and strategies executed by various governments and market players across the globe are further provided in the report.
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Current Market Scenario Due to COVID-19
The COVID-19 pandemic has progressively impacted the global coagulation testing market in 2020. The anticipated pre COVID-19 market size for coagulation testing market was $2,505.5 million in 2020 and is expected to observe a robust growth and reach up to $2,555.1 million due to COVID-19 pandemic. This growth is majorly attributed the potential of coagulation tests in monitoring the blood flow in COVID-19 infected patients.
Additionally, the growing awareness amongst people regarding the benefits of early diagnosis and the growing focus of researchers on finding the behavior of coagulopathy associated with the COVID-19 are other factors expected to bolster the market growth in 2020.
Global Market to Continue to Grow Enormously Post-Pandemic
The global coagulation testing market is anticipated to continue to grow exponentially post-coronavirus pandemic. The demand for coagulation procedures is growing enormously for the treatment of cardiovascular diseases. In addition, a rise in trend for smart mobile-based coagulation testing. These factors expected to foster the global market growth after COVID-19 pandemic.
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Recent Development by Key Market Players
The key players operating in the global coagulation testing industry are increasingly focusing on developing novel point-of care units & coagulation analyzers and are adopting several strategies to hold a robust position in the global industry. For instance, Sysmex Corporation announced the launch of the next generation automated blood coagulation analyzers CN-3000 and CN-6000 in December 2018, with an aim to provide improved levels of operatibility, reliability, and productivity.
The prominent players in the global coagulation testing market include -
- Helena Laboratories Corporation
- Thermo Fisher Scientific Inc.
- Micropoint Biosciences
- F. Hoffmann-La Roche Ltd
- Medtronic
- NIHON KOHDEN CORPORATION
- Sysmex Corporation
- Abbott
- Danaher
The report summarizes and provides various aspects of all the prominent players functioning in the overall market such as financial performance, product portfolio, recent developments, strategic moves, SWOT analysis, and many more.
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