New York, USA, June 15, 2021 (GLOBE NEWSWIRE) -- According to a report published by Research Dive, the global coagulation testing market is projected to register a revenue of $3,566.0 million at a CAGR of 5.9% during the forecast period (2019-2026), increasing from $2,241.4 million in 2019. The inclusive report provides a brief overview of the current scenario of the market including significant aspects of the market from growth factors, challenges, restraints, and various opportunities during the forecast period. The report also provides all the market figures making it easier and helpful for the new participants to understand the market.
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Dynamics of the Market
Drivers: Coagulation testing is crucial for assessing bleeding patients, patients scheduled for surgery, and for postsurgical care. This is one of the main reason behind the growth of the global coagulation testing market.
Fluorescent microscopy, electrochemical sensing, microfluidics, and photo-acoustic detection, are the advanced technologies that are used to develop cost-effective and robust point-of-care (POC) devices. POC devices are typically used to measure optical, electrochemical, and mechanical limitations of clotting blood. These are the other factors behind the growth of the global coagulation testing market.
Restraints: High expenditure needed for coagulation testing is expected to be the main factor behind the growth of the market during the analysis period.
Opportunity: The invention of smartphone-based blood coagulation test is going to create diverse opportunities in the market. This is a self-testing technology which allows patients to monitor the flow of blood themselves at home who are undertaking an anti-coagulant therapy. This technology, undoubtedly, will create dynamic opportunities for the market in upcoming years.
Key Segments of the Market
The report has divided the market into different segments based on product type, application, end-use, and regional analysis.
Product Type: Consumable Segment Expected to Be the Most Profitable
Consumable segment accounted for $1,187.9 million in 2018 and is further expected to generate a revenue of $1,847.2 million by the end of 2026. Some of the major factors behind the growth of the market segment include advanced and digitized diagnostic devices, upgraded treatment monitoring process, and rising investments by government in the R&D of coagulation testing.
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Application: Prothrombin Time Test Sub-Segment Expected to be the Most Lucrative
Prothrombin time test sub-segment is expected to garner a revenue of $2,475.7 million during the analysis period. Prothrombin time tests are recurrently performed in an outpatient or medical centers for the evaluation of the hemostatic system. These newly designed prothrombin time testing devices are incorporated with sensor technology. This is the main reason behind the growth of the sub-segment.
End-Use: Point-of-Care Testing Sub-Segment Predicted to Earn the Highest Market Share
Point-of-Care testing sub-segment was recorded as the highest grossing segment with a revenue of $291.4 million in 2018, and is further forecasted to account for a revenue of $495.7 million by the end of 2026.
Clinicians and experts are focusing on the Perioperative Coagulation Point-Of-Care Testing (POCT) which offers complex interactions within the clotting system, reduces turnaround test times, and also lessens inappropriate transfusion.
Region: European Region Expected to Dominate the Market
European regional market is expected to generate a revenue of $1,094.8 million at a CAGR of 6.2% during the forecast period. Cardiovascular disease (CVD) causes almost 3.9 million deaths in Europe which is 45% of all deaths in Europe every year. The rising cases of chronic diseases has increased the demand of coagulation testing in the European region, which is enhancing the growth of the market.
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Key Players of the Market
The most dominant players of the coagulation testing include
- Helena Laboratories Corporation.
- Thermo Fisher Scientific Inc.
- Medtronic
- F. Hoffmann-La Roche Ltd
- Micropoint Biosciences
- Abbott
- NIHON KOHDEN CORPORATION
- Sysmex Corporation
- Danaher
These players are working on developing strategies such as product development, merger and acquisition, partnerships, and collaborations to sustain the market growth.
In February 2021, Thermo Fisher Scientific Inc., the world leader in serving science, announced that it has completed the acquisition of Mesa Biotech, Inc., a privately held point-of-care molecular diagnostic company.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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