The prothrombin time testing market is likely to register a CAGR of 5% during the forecast period, and is anticipated to reach a market share of US$ 10.38 Bn in 2032, from US$ 6.07 Bn in 2021, owing to the public awareness regarding the benefits and effectiveness of these devices for detecting the blood disorders.
| Attributes | Details |
| Prothrombin Time Testing Market CAGR | 5% |
| Prothrombin Time Testing Market Size (2021) | US$ 6.07 Bn |
| Prothrombin Time Testing Market Size (2032) | US$ 10.38 Bn |
The rising prevalence of cardiovascular disorders in the senior population is one of the primary factors driving the demand for Prothrombin time testing. Cardiovascular disease (CVD) and blood diseases are the main causes of death in Europe, South Asia, Africa, and the United States.
Due to an increase in the frequency of blood and cardiovascular illnesses, the global sales of prothrombin time testing is expected to develop significantly over the forecast period, thus generating a profitable opportunity for major participants in the prothrombin time testing market.
The fact that over half of all Americans are at risk for heart disease, and the percentage is rising, presents a strong chance for the sales of prothrombin time testing to grow. The major key player in the market is attempting to gain prothrombin time testing market share by including more and more technical advancements into their product, allowing it to become highly advanced and capable of producing precise results with minimal variation.
Increased use of Point-Of-Care Testing (POCT) and home care goods is predicted to boost the sales of prothrombin time testing. Geriatric populations in various nations are more prone to cardiovascular and blood problems, which gives rise to the demand for prothrombin time testing.
Furthermore, public awareness of the benefits and usefulness of these devices in diagnosing blood problems is a crucial driver driving the demand for prothrombin time testing. Prothrombin time testing devices are getting more and more common as a result of technological developments, such as faster and easier-to-use devices with superior sensor technology, promoting the sales of prothrombin time testing.
Furthermore, physicians' preference for anticoagulation agents (such as warfarin), higher testing frequency, and strong reimbursements for medical practitioners are propelling the demand for prothrombin time testing forward.
However, the approval procedure has become time-consuming and complicated as a result of stringent restrictions imposed by various regulatory authorities, and this factor is projected to stifle the sales of the prothrombin time testing.
North America, South Asia, East Asia, Europe, Latin America, Oceania, and the Middle East and Africa are the seven regions that make up the global Prothrombin time testing market. The Prothrombin time testing market is expected to be dominated by the North American region, owing to its high-quality infrastructure that caters to the market's needs.
With the current change in adoption and expansion in the medical device market, the rising demand for Prothrombin Time Testing in South Asia might become a lucrative market opportunity for key players. The demand for prothrombin time testing is growing slowly in the Middle East and Africa due to poor product penetration.
Due to continuous development by major factors to improve the accuracy of test results, both established and emerging economies are moving at a good pace. The sales of prothrombin time testing are expected to rise during the forecast period.
Some of the major players in the prothrombin time testing market are NIHON KOHDEN CORPORATION, SEKISUI MEDICAL, Coagulation Sciences LLC, Universal Biosensors, F. Hoffmann-La Roche, Sysmex Corporation, Medtronic, Micropoint Biosciences, ARKRAY, Diagnostica Stago S.A.S., HemoSonics, Beckman Coulter, Grifols, and Chrono-log Corporation, Abbott, Helena Laboratories, Thermo Fisher Scientific, Siemens Healthcare GmbH and others. With novel product formulations and launches, these prominent industry players are expected to boost prothrombin time testing market share growth.
| Report Attribute | Details |
| Growth rate | CAGR of 5% from 2022 to 2032 |
| Base year for estimation | 2021 |
| Historical data | 2015 - 2020 |
| Forecast period | 2022 - 2032 |
| Quantitative units | Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032 |
| Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
| Segments covered | Application, type, technology, end use, region |
| Regional scope | North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand |
| Country scope | U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa |
| Key companies profiled | NIHON KOHDEN CORPORATION, SEKISUI MEDICAL, Coagulation Sciences LLC, Universal Biosensors, F. Hoffmann-La Roche, Sysmex Corporation, Medtronic, Micropoint Biosciences, ARKRAY, Diagnostica Stago S.A.S., HemoSonics, Beckman Coulter, Grifols, and Chrono-log Corporation, Abbott, Helena Laboratories, Thermo Fisher Scientific, Siemens Healthcare GmbH and others |
| Customization scope | Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. |
The prothrombin time testing market is anticipated to register a CAGR of 5% during the forecast period.
The prothrombin time testing market share is anticipated to reach US$ 10.383 Bn by 2032.
Demand for the prothrombin time testing market is likely to rise, owing to the public awareness regarding the benefits and effectiveness of these devices for detecting the blood disorders.
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Prothrombin Time Testing Market
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