Coagulation Analyzers Market

Coagulation Analyzers Market Overview

The global coagulation analyzers market size is expected to be valued at US$ 7.8 Billion in 2032 and exhibit growth at a CAGR of 11.3% in the forecast period from 2022 to 2032. It is expected to grow at a steady pace and reach US$ 5.1 Billion in 2022. The rising prevalence of blood disorders and cardiovascular diseases among the geriatric population is projected to spur the sales of coagulation analyzers in the assessment period.

Coagulation analyzers are advanced blood inspecting and analyzing instruments. The increasing focus of governments of various countries on healthcare research activities owing to the sudden outbreak of the COVID-19 pandemic in December 2019 is expected to fuel the coagulation analyzers market growth.

The increasing smoking habit, obesity, hereditary factors, and deficiency of vitamin K are anticipated to result in the rising cases of blood clotting disorders among people worldwide. Hence, the urgent need to efficiently detect blood clots is set to drive the demand for analyzers.

In October 2021, for instance, Trivitron Healthcare, a leading medical devices company based in Chennai, unveiled its latest range of coagulation analyzer products in India. These were manufactured in collaboration with Diagon-Vanguard Diagnostics. These new products can check the efficacy of anti-coagulant drugs and hemostatic therapies, as well as lower the risk of bleeding in extensive surgeries. Thus, the ongoing launch of technologically advanced products by key players globally is a vital factor propelling the growth.

Which are Some Prominent Drivers Spearheading Coagulation Analyzers Market Growth?

The demand for coagulation analyzers is anticipated to surge in the forthcoming years worldwide backed by the rising cases of chronic blood disorders and lifestyle associated diseases. The increasing awareness about these disorders among people to enhance preventive care management and diagnostic rate is another significant factor that is expected to augur well for the global market.

The growing usage of prothrombin time tests for measuring the total time taken for the blood to clot in healthcare facilities is set to drive the market. These are estimated to be extensively used in hospitals for monitoring patients implanted with ventricular assist devices or mechanical heart valves. The rising number of patients suffering from pulmonary embolism, chronic atrial fibrillation, deep venous thrombosis, and venous embolism is also likely to propel the market.

What are the Challenges Faced by the Coagulation Analyzers Industry?

Coagulation analyzers cannot generate comments on red cell morphology. These are also incapable of recognizing abnormal red cell shapes, especially fragmented cells. The newly launched cutting-edge analyzers are expensive and require high running costs, which may not be affordable for start-up companies. On the other hand, flagging can occur in between tests, which would require labor-intensive examination of blood. Spurred by the above-mentioned factors, the sales of coagulation analyzers may decline in the future years.

Why is North America emerging as an Opportunistic Coagulation Analyzers Market?

North America is expected to remain at the forefront in the evaluation period in terms of the coagulation analyzers market share. The presence of favorable healthcare resources and government norms associated with the medical industry are set to bode well for the market.

In addition, the rising prevalence of various cardiometabolic disorders, such as Pulmonary Embolism (PE) and Deep Vein Thrombosis (DVT) is another crucial factor that is projected to boost the North America market. As per the Centers for Disease Control and Prevention (CDC), nearly 60,000 to 100,000 people die of DVT/PE in the U.S. every year. Sudden death is the first symptom of PE in about 25% of people. These numbers are likely to grow in the upcoming years, thereby bolstering the market in this region.

Nikhil Kaitwade

Principal Consultant

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How is Asia Pacific Contributing to Growth of the Coagulation Analyzers Market?

The increasing number of clinics, hospitals, and health centers in developing countries, such as India and China is anticipated to fuel the Asia Pacific coagulation analyzers market growth. The presence of skilled healthcare staff equipped to deliver effective and safe treatment in these countries is another factor that is set to augment the market.

The surging geriatric population affected by leukemia, sickle-cell anemia, and thalassemia is estimated to push the sales in Asia Pacific. Researchers at the Guangxi Medical University, for instance, found that the prevalence of thalassemia was the highest in South China. Thus, the increasing number of research and development activities conducted by numerous educational and research institutions is projected to propel the Asia Pacific market.

Market Competition

Some of the renowned players operating in the global coagulation analyzers market include Beijing Succeeder Technology Inc., Abbott Laboratories, Genrui Biotech Inc., Danaher, Maccura Biotechnology Co. Ltd., Helena Laboratories, ERBA Diagnostics, Inc., Siemens Healthineers Group, Hycel, Haematonics, Nihon Kohden, Bpc Biosed Srl, Sysmex Group, Robimes India Pvt. Ltd., Eurolyser, Biosystems S.A., Thermo Fisher Scientific, Diagnostica Stago SAS, Roche Diagnostics, ACON, Horiba, Meril Life Sciences, A&T Corporation, Bio Group Medical System, and Sclavo Diagnostics International S.r.l among others.

Majority of the leading players are present in the international space and are competing directly to generate more sales owing to their easy global accessibility. They are extensively utilizing third party vendors to distribute their products across the globe. Meanwhile, a few other key players are investing huge sums for the development of their distribution offices in various parts of the world.

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Report Scope

Key Segments Profiled in the Coagulation Analyzers Industry Survey

By Product:

• Stains
• Analyzers
• Reagents
• Clinical Laboratory Analyzers
• Consumables
• Point of Care Analyzers

By Technology:

• Nephelometric
• Mechanical
• Photo-optical/Chromogenic/Immuno
• Optical
• Electrochemical

By Test Type:

• Prothrombin
• Fibrinogen
• D-Dimer
• APTT

By End Use:

• Diagnostic Centers
• Research Institutes
• Hospitals

By Region:

• North America
• Latin America
• Western Europe
• Easter Europe
• APEJ
• Japan
• Middle East & Africa