Pune,India, Aug. 10, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners latest study on “Coagulation Analyzer Market Size Report & Share Forecast to 2030 – COVID-19 Impact and Global Analysis – by Product Type, Test, Technology, End User, and Geography,” the market size is expected to grow from $4.18 billion in 2022 to $6.69 billion by 2030; it is estimated to register a CAGR of 6% from 2022 to 2030. The leading companies operating in the global coagulation analyzer market are Abbott Laboratories, Danaher Corp, Siemens Healthcare GmbH, Thermo Fisher Scientific Inc, Sysmex Corporation, Horiba Ltd., Nihon Kohden Corp, F. Hoffmann-La Roche Ltd, Maccura Biotechnology Co Ltd, and Bio Group Medical System SRL.
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Rising Incidence of Cardiovascular Diseases Boosts Overall Global Coagulation Analyzer Market Growth:
Cardiovascular diseases (CVDs) cause millions of deaths every year worldwide. The major causes of CVDs are hypertension, obesity, and diabetes. According to the 2022 Heart Disease & Stroke Statistical Update Fact Sheet, Global Burden of Disease, approximately 119.1 million people died of CVDs in 2020. It also stated that the global prevalence of stroke and ischemic stroke in 2020 was 89.1 million and 68.2 million, respectively. As per the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention, ~697,000 people died of heart diseases in the US, i.e., 1 out of every 5 deaths. According to the American Heart Association, over 130 million, or 45.1% of Americans, are likely to acquire some form of CVD by 2035. Further, CVDs majorly cause mortality and morbidity in Europe, accounting for 45% of deaths in the region and 37% in the European Union (EU) each year. High blood pressure is the major risk factor causing CVDs in low-and middle-income countries, resulting in more than 75% of death cases. As per the study ‘Global Burden of Disease Study 2019,’ CVDs were the leading cause of death in Asia Pacific in 2019, causing 10.8 million or 35% of the total fatalities.
In addition, according to the American College of Cardiology, ~1.2 million angioplasties are performed each year. Similarly, there is an increasing coronary artery bypass grafting (CABG) due to rising incidences of coronary artery disease, myocardial infections, sedentary lifestyles, and hypertension. Further, ~400,000 CABG surgeries are performed each year globally. In the US, ~200,000 CABG surgeries are performed, as per research published in NLM in 2022. In addition, a coagulation test can help prevent potentially heart attack-causing blood clots. A coagulation analyzer is used during coronary artery bypass surgery and angioplasty to monitor information about blood clotting status. Thus, the increasing incidence of cardiovascular diseases is driving the growth of the coagulation analyzer market.
On the other hand, Asia Pacific accounted for the highest CAGR for the coagulation analyzers market growth. The growing demand for vascular disease diagnosis and treatment in an increasing number of elderly patients fuels the coagulation analyzers market growth. According to the Japanese government statistics released in September 2020, one in four people in Japan is 65 years or older. According to World Bank data, Japan's population over 65 years was 36.07 million in 2021, a significant increase from 29.60 million in 2011. ~80,000 people are recorded to be over 100 years in Japan; this number is expected to increase to 440,000 by 2050. Thus, the rising vascular diseases and the increasing geriatric population across the country will likely offer vital growth opportunities for the coagulation analyzers market in the coming years. Likewise, the rising geriatric population in India will increase the demand for coagulation analyzers as the old age group is highly prone to various vascular diseases. According to the Indian Ministry of Statistics and Program Implementation (MoSPI), India's elderly population is estimated to grow from 138 million in 2021 to 194 million by 2031, a 41% increase over a decade. The increasing geriatric population will increase the demand for various diagnostics and treatments related to vascular diseases. Thus, the factors such as rising cardiovascular diseases, implementation of national strategies, and rising geriatric population will boost the growth of the coagulation analyzers market in Asia Pacific.
Browse key market insights spread across 205 pages with 139 list of tables & 72 list of figures from the report, "Coagulation Analyzer Market Forecast to 2030 - COVID-19 Impact and Global Analysis By Product Type (Clinical Laboratory Analyzers and Point-of-Care Testing Analyzers), Test (Prothrombin Time Testing, Fibrinogen Testing, Activated Clotting Time Testing, D-Dimer Testing, Activated Partial Thromboplastin Time Testing, Platelets Function Testing, and Others), Technology (Optical Technology, Mechanical Technology, Electrochemical Technology, and Others), End User (Clinical Laboratories, Hospital, and Others), and Geography" in detail along with the table of contents: https://www.theinsightpartners.com/reports/coagulation-analyzer-market
Global Coagulation Analyzer Market – Report Scope:
Report Coverage | Details |
Market Size Value in | USD 4.18 Billion in 2022 |
Market Size Value by | USD 6.69 Billion by 2030 |
Growth rate | CAGR of 6% from 2022 to 2030 |
Forecast Period | 2022-2030 |
Base Year | 2022 |
No. of Pages | 205 |
No. of Tables | 139 |
No. of Charts & Figures | 72 |
Historical data available | Yes |
Segments covered | Product Type, Test, Technology, End User, and Geography |
Global Coagulation Analyzer Market: Competitive Landscape and Key Developments
Abbott Laboratories, Danaher Corp, Siemens Healthcare GmbH, Thermo Fisher Scientific Inc, Sysmex Corporation, Horiba Ltd., Nihon Kohden Corp, F. Hoffmann-La Roche Ltd, Maccura Biotechnology Co Ltd, and Bio Group Medical System SRL are a few key companies operating in the global coagulation analyzers market. Leading players focus on expanding and diversifying their market presence and clientele, thereby tapping prevailing business opportunities.
Global Coagulation Analyzer Market: Segmental Overview
Based on product type, the coagulation analyzer market is segmented into clinical laboratory analyzers and point-of-care testing analyzers. The clinical laboratory analyzers is further sub-segmented as system and consumable. The clinical laboratory analyzers segment accounted for the largest market share in 2022 and is expected to register the highest CAGR from 2022 to 2030. Based on test, the market is segmented as prothrombin time testing, fibrinogen testing, activated clotting time testing, D-dimer testing, activated partial thromboplastin time testing, platelets function testing, and others. The prothrombin time testing segment led the market in 2022 and is expected to retain its dominance during the forecast period. Based on technology, the coagulation analyzer market is segmented into optical technology, mechanical technology, electrochemical technology, and others. The optical technology segment led the market in 2022 and is expected to retain its dominance during the forecast period. By application, the market is segmented as clinical laboratories, hospitals, and others. The clinical laboratories segment held the largest share of the coagulation analyzers market in 2022.
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In North America, the US is the largest market for coagulation analyzers. The growth of this market is primarily driven by increasing incidence of blood disorders, growing prevalence of cardiovascular diseases such as atrial fibrillation (AFib), developments by the market players, and presence of major market players in the US. As per the Centers for Disease Control and Prevention (CDC), in 2019, AFib was mentioned on ~183,321 death certificates in the US; it was the primary cause of death in nearly 26,535 of those deaths. It is anticipated that 12.1 million people will suffer from AFib by 2030 in the US. As per the Canadian Task Force on Preventive Health Care, the incidence of Atrial Fibrillation (AFib) in Canada increases by 4.5% per year, with lifetime risk of ~25% people older than 40 years. The increasing incidence of blood disorders is likely to propel the demand for coagulation analyzers. For instance, as per the CDC, Hemophilia A affects 1 in 5,000 male births. Nearly 400 babies are born with Hemophilia A each year. It also mentioned that ~33,000 males in the US were diagnosed with hemophilia during 2012–2018. Further, approximately 300,000 Canadians carry an inherited bleeding disorder gene. One in 10 of these people—at least 30,000 Canadians—have symptoms severe enough to require medical care. Many of them have not been properly diagnosed. Only 10,000 people with inherited bleeding disorders are registered in the Canadian network of inherited bleeding disorder comprehensive care clinics.
The increasing awareness program for blood disorders is likely to the favor market growth for coagulation analyzers. Hemophilia Health Education and Prevention Funded Projects is the largest program in CDC’s division of blood disorders. CDC has funded projects that are designed to promote health and prevent complications related to bleeding disorders. Thus, increasing number of blood disorders, growing prevalence of cardiovascular diseases, and government support for preventing blood disorders in the region are anticipated to boost the North America coagulation analyzers market growth during the forecast period.
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