Pune, India, Jan. 04, 2022 (GLOBE NEWSWIRE) -- The global POC Coagulation Testing Devices Market size is estimated to reach USD 2.44 billion in 2028. The market size was USD 1.50 billion in 2020 whereas it is estimated to be USD 1.53 billion in 2021. Furthermore, the market registered a CAGR of 6.9% in the 2021-2028 period. This information is provided by Fortune Business Insights™, in its report, titled, “POC Coagulation Testing Devices Market, 2021-2028.”
According to our researchers, point of care coagulation diagnostics are applied over conservative coagulation analysers in order to regulate the stage of blood coagulation among patients suffering with bleeding conditions across several healthcare applications. These diagnostic gadgets deliver quick and precise haemostatic function outcomes in patients with coagulopathies or preoperative and post-operative disorders. Therefore, it is expected that these factors are likely to bolster the POC Coagulation Testing Devices Market growth during the mentioned timeframe.
Industry Development
September 2019: HemoSonics, LLC was granted the CE mark for its QStat cartridge, which is an expansion of its quantra hemostasis system with an objective to magnify its obtainability in European nations.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2021 to 2028 |
| Forecast Period 2021 to 2028 CAGR | 6.9% |
| 2028 Value Projection | USD 2.44 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 1.50 Billion |
| Historical Data for | 2017 to 2019 |
| No. of Pages | 136 |
| Segments covered | Devices Types, end-Users and Geography |
| Growth Drivers | High Cost of POC Coagulation Testing Devices to Restrict Adoption in Emerging Countries |
| Viscoelastic Coagulation Monitoring Devices to Register Higher CAGR during 2021-2028 | |
| Hospital and Clinics to Held a Significant Share in 2020 |
Drivers and Restraints
Surging Demand & Implementation of Home Healthcare Gadgets to Support Market Growth
The rising price load of healthcare services and hospital visits has led to a steady move of patients towards homecare situations in order to get treated regarding disorders such as haemophilia and Von Willebrand disease (VWD), among others.
Furthermore, corporations are persistently financing in expansion of innovative and effortless to function point of care devices for surveying of coagulation conditions at home.
Their determinations have led to an introduction of transportable and cutting-edge coagulation devices that can be effortlessly utilized by patients without any requirement of qualified help. This in turn is highly anticipated to spur the market growth during the forecast period.
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COVID-19 Impact
Increasing Demand for TEG Gadgets across Healthcare Facilities amid COVID-19 Pandemic
The outbreak of COVID-19 has had an adverse influence on the growth of the market. Moreover, prominent players functioning in the market have registered deterioration in their incomes owing to the pandemic situation. Similarly, the government of impacted nations placed a set of guidelines for the rescheduling of non-essential operations and unnecessary medical tourism.
This led to an escalated drop in non-essential surgical operations universally which further restricted the usage of point of care (POC) coagulation testing devices during preoperative or post-operative circumstances.
Segmentation
Based on device type, the global POC Coagulation Testing Devices Market is segregated into anticoagulation monitoring devices, platelet function monitoring devices, viscoelastic coagulation monitoring devices, and others. The anticoagulation monitoring devices segment ruled the global market in 2020 owing to its capability to deliver speedy and precise consequences.
On the basis of end-users, the market is further classified into hospital & clinics, homecare and others.
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Competitive Landscape
Strong Product Offerings by Chief Players to Sustain Market Growth
Competitive landscape of the market is combined with some major players such as F. Hoffmann-La Roche Ltd, Siemens Healthcare GmbH, and Abbott among others responsible for the prime share of market in 2020. The supremacy of these companies is accredited to their robust functioning network and sturdy portfolio for devices for POC coagulation testing.
Regional Insights
North America held the maximum POC Coagulation Testing Devices Market share and reached at USD 0.62 billion in 2020. Existence of great patient pool with bleeding conditions, augmented implementation of technologically developed gadgets, and enhanced per capita healthcare spending are some of the principal aspects accountable for the domination of this region.
Europe is projected to witness a substantial CAGR on account of the presentation of innovative POC coagulation testing devices in the market owing to technological improvements in point of care diagnostics.
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List of Players Covered in the Report
- Werfen (Barcelona, Spain)
- CoaguSense, Inc. (California, U.S.)
- Helena Laboratories Corporation (Texas, U.S.)
- Medtronic (Dublin, Ireland)
- Abbott (Illinois, U.S.)
- F. Hoffmann-La Roche Ltd (Basel, Switzerland)
- Siemens Healthcare GmbH (Munich, Germany)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- HemoSonics, LLC (Virginia, U.S.)
- Haemonetics Corporation (Boston, U.S.)
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