New York, USA, May 10, 2022 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global coagulation testing market is estimated to generate a revenue of $3,566.0 million and rise at a CAGR of 5.9% during the forecast period from 2019-2026.
As per our analysts, with the rising number of chronic blood diseases worldwide, the market is expected to witness remarkable growth over the estimated timeframe. Besides, the increasing technological inventions such as cost-effective point-of-care devices which measure mechanical, electrochemical, and optical parameters of clotting blood are expected to foster the growth of the coagulation testing market over the forecast period. Furthermore, recent inventions such as smartphone-enabled coagulation tests are expected to amplify the growth of the market during the analysis period. However, the higher costs of coagulation devices and lack of professionals may impede the growth of the market throughout the analysis period.
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Segments of the Market
The report has divided the coagulation testing market into segments based on type, application, end-use, and region.
Type: Consumable Sub-Segment to be Most Productive
The consumable sub-segment is predicted to generate a revenue of $1,847.2 million during the forecast period. Moreover, the increasing growth in the diagnostic centers, enhanced diagnostic tools, and heavy investments in R&D are the factors expected to bolster the growth of the market sub-segment during the analysis timeframe.
Application: Prothrombin Time Sub-Segment to be Most Lucrative
The prothrombin time sub-segment is expected to garner a revenue of $2,475.7 million over the estimated time period. This is mainly because prothrombin time testing devices are consolidated with sensor technology, which is quite faster and user-friendly. In addition, the increasing pervasiveness of cardiovascular problems and the increasing demand for point of care testing are predicted to boost the growth of the coagulation testing market sub-segment during the forecast period.
End-Use: Point-of-Care Testing Sub-Segment to be Most Profitable
The point-of-care testing sub-segment is expected to generate a revenue of $495.7 million during the forecast period. This is mainly because of the rising economic pressures on hospitals and increasing competition among therapists and suppliers. Furthermore, the increasing perioperative coagulation point-of-testing (POCT) to reduce turnaround test times and to minimize inappropriate transfusion is predicted to upsurge the growth of the market sub-segment during the analysis period.
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Region: Europe Region to Have Enormous Growth Opportunities
The Europe region of coagulation testing market is expected to generate a revenue of $1,094.8 million throughout the analysis period. This is mainly because of the latest strategic advancements in coagulation testing in this region. Further, the increasing death rates from ischaemic heart disease and strokes are the major factors expected to drive the regional growth of the market during the forecast timeframe.
Key Players of the Market
The major players of the coagulation testing market include
- F. Hoffmann-La Roche Ltd
- Micropoint Biosciences
- Abbott, Medtronic
- NIHON KOHDEN CORPORATION
- BD
- Thermo Fisher Scientific Inc.
- Sysmex Corporation
- Helena Laboratories Corporation
- Danaher
These players are mainly working on the development of new business strategies to procure the leading positions in the global industry.
For instance, in October 2021, Trivitron Healthcare, a renowned supplier of medical equipment for the healthcare industry has announced its partnership with Diagon-Vanguard Diagnostics India, a leading manufacturer of laboratory reagent, automated coagulator & hematology analyzer. With this collaboration, the companies are aiming to launch new lines of coagulation analyzer products to broaden the efficacy of patient management.
In addition, the report also presents other crucial aspects such as SWOT analysis, product portfolio, the financial performance of the key players, and the latest strategic developments.
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