Wilmington, Delaware, United States, July 18, 2023 (GLOBE NEWSWIRE) -- The global point-of-care coagulation testing (POCT) market stood at US$ 1.69 billion in 2021 and the global market is projected to reach US$ 3.06 billion in 2031. Global point-of-care coagulation testing (POCT) market is anticipated to expand at a CAGR of 5.4% between 2022 and 2031.
Rise in the prevalence of blood clotting disorders, the increase in POCT coagulation in developed countries, and the surge in the usage of anticoagulant therapy are the factors driving the global POC coagulation testing devices market. Increase in the prevalence of cardiovascular diseases and cancer, constant product & technology innovations, and funding by the government are propelling the global market.
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Lack of awareness in developing countries and regulatory challenges are projected to restrain the global point-of-care coagulation testing devices market. A number of studies have shown that 60% to 70% of deep vein thrombosis in developing countries is clinically undiagnosed. Players in the point-of-care coagulation devices market are establishing a stronger foothold in developed and emerging markets.
Key Takeaways of Market Report
- Global point-of-care coagulation testing (POCT) market to generate absolute dollar opportunity worth US$ 3.06 billion until 2031.
- Global point-of-care coagulation testing (POCT) market from 2022 to 2031 is 5.3%
- Global point-of-care coagulation testing (POCT) market is currently valued at US$ 1.69 billion in 2021.
- Global point-of-care coagulation testing (POCT) market stood at US$ 1.74 billion in 2022.
- Market value of the global point-of-care coagulation testing (POCT) market from 2018 to 2022 is 4.99%.
- North America is said to have a market share of 43.2%.
- Asia Pacific market region is estimated to have a market share of 29.3%.
Global Point-of-Care (POC) Coagulation Testing Devices Market: Key Players
- Ortho Clinical Diagnostics in collaboration with Diazyme Laboratories, Inc. launched a new MicroTip Partnership Assay program for coagulation testing
- ARKRAY, Inc. launched the "SPOTCHEM HS HS-7710" blood coagulation analyzer. This analyzer enables personnel to perform measurements quickly and easily in the operating room, allowing doctors to comprehensively determine blood coagulability.
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Global Point-of-Care (POC) Coagulation Testing Devices Market: Growth Drivers
- Consumables and accessories segment accounted for major share of the global point-of-care coagulation testing devices market in 2021. Increase in usage of kits and reagents, which provide results in less time; growth in usage of POC testing strips that provide reliable results; rise in demand for quicker results; and surge in POC testing are the major factors augmenting the consumables and accessories segment.
Rapid coagulation testing methods are increasingly adopted by patients. Adoption of POC coagulation analyzers is projected to rise in the near future, which is likely to drive the segment. Usage of disposable consumables is increasing due to the rise in awareness about the prevention of blood-borne diseases, such as Hepatitis B and HIV, among people. Assurance of patient safety due to the usage of disposable consumables and reliable results is propelling the segment.
- Pt/INR segment held the largest share of the market in terms of revenue in 2021. segment is anticipated to dominate the global market owing to the growing trend of point-of-care testing and self-monitoring with PT tests. moreover, the high reliability of the coagulation status on the PT test is one of the factors likely to drive the segment during the forecast period. Key players are focused on the launch of technologically advanced products. For example, Roche developed a Bluetooth-enabled Pt/INR Testing Coaguchek device that helps patients and healthcare providers to check coagulation status and help in remote care. Siemens Healthineers launched the FDA-approved POC PT/INR device called Xpercia stride coagulation analyzer. This device has demonstrated Pt/INR testing performance equivalency as the Roche Coaguchek Xs Poc System.
Global Point-of-Care (POC) Coagulation Testing Devices Market: Regional Landscape
- North America is projected to be a highly attractive region of the global point-of-care coagulation testing devices market during the forecast period. the region accounted for the largest share of the global market in 2021. high prevalence of cardiac diseases, technologically advanced countries, and a rise in awareness about coagulation disorders are factors propelling the market in North America.
- market in asia pacific is likely to grow at the fastest cagr from 2022 to 2031. the region is witnessing gradual adoption of novel products, an increase in healthcare expenditure, and changes in dynamics in the in vitro diagnostics industry. this is expected to drive the adoption of new technologies among hospitals and diagnostic laboratories.
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Global Point-of-Care (POC) Coagulation Testing Devices Market: Segmentation
- Product
- Instruments / Analyzers
- Consumables & Accessories
- Method
- PT / INR
- Viscoelastic Coagulation Monitoring
- Others (ACT, aPTT, etc.)
- End-user
- Hospitals
- Diagnostic Laboratories
- Clinics
- Others
- Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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