The global rapid coagulation testing market size is set to reach US$ 8.6 Billion in 2032 and exhibit growth at an astonishing CAGR of 4.5% in the forecast period from 2022 to 2032. It is anticipated to be valued at US$ 3.7 Billion in 2022. The emergence of smartphone-based blood coagulation tests in developed countries is projected to propel the demand for rapid coagulation testing devices in future years.
| Report Attribute | Details |
| Rapid Coagulation Testing Market Estimated Base Year Value (2021) | US$ 2.1 Billion |
| Rapid Coagulation Testing Market Expected Market Value (2022) | US$ 3.7 Billion |
| Rapid Coagulation Testing Market Anticipated Forecast Value (2032) | US$ 8.6 Billion |
| Rapid Coagulation Testing Market Projected Growth Rate (2022-2032) | 4.5% CAGR |
Rapid coagulation testing is referred to as the rapid specific testing of blood fluids at an individual’s bedside. The extensive usage of these tests for the management of perioperative coagulation is estimated to drive the growth in this market.
These help in reducing inappropriate transfusion and provide results in minutes. Two methods, namely, viscoelastic and aggregometry are mainly deployed for this type of testing.
Viscoelastic rapid coagulation methods are used to find detailed information about every aspect of coagulation, such as plasma and cellular components of whole blood. The aggregometry rapid coagulation method, on the other hand, is employed to analyze and monitor whole blood.
The ongoing development of personalized medicine and the urgent need to manage bleeding patients are expected to aid the growth in this market. In addition to that, the surging prevalence of cancer among the geriatric population is likely to fuel the growth.
The surging demand for coagulation laboratory and special hematology is estimated to augment the rapid coagulation testing market growth in the evaluation period. The ongoing development of various advanced technologies, such as photoacoustic detection, electrochemical sensing, microfluidics, and fluorescent microscopy is also expected to bode well for the market.
These technologies are likely to be utilized for the development of highly robust and cost-effective Point-of-Care (POC) devices. The ability of these devices to measure electrochemical, mechanical, and optical parameters of clotting blood is anticipated to fuel the market. Also, the increasing prevalence of chronic blood diseases and cardiovascular issues is another vital factor that is set to drive the market.
Non-hematological staff members require competency and training to perform rapid coagulation tests. As compared to conventional testing, rapid coagulation tests are more expensive. Besides, these measure coagulations under artificial conditions and quality assurance standards are difficult to institute outside the laboratory. Spurred by the aforementioned factors, sales of rapid coagulation testing devices may be hampered in the evaluation period.
Europe is expected to remain at the forefront by generating the largest rapid coagulation testing market share in the assessment period. This growth is mainly attributable to the increasing technological advancement in the healthcare sector, especially in the U.K. and Germany.
The surging death rates due to strokes and ischaemic heart disease in Eastern and central Europe are likely to accelerate the need for rapid coagulation testing devices in future years. Increasing expenditure in healthcare and the availability of cutting-edge medical equipment across Europe are a couple of other factors that are set to spur the market.
The increasing adoption of sedentary lifestyles and the rising demand for foreign investments in China and India are anticipated to bolster the Asia Pacific rapid coagulation testing market growth in the forthcoming years. The surging number of road accidents in these countries are expected to lead to the occurrence of harmful injuries, such as head trauma and blood clots. These are further likely to propel the need for rapid coagulation testing across Asia Pacific.
According to the India Brand Equity Foundation (IBEF), FDI inflows for the pharmaceuticals and drugs sector stood at US$ 18.12 billion between April 2000 and June 2021. The central government also established 638 e-hospitals across India to accelerate its ‘Digital India’ initiative. Thus, rising government spending on the development of healthcare infrastructure is projected to push the market in Asia Pacific.
Some of the renowned companies operating in the global rapid coagulation testing market include Entegrion, Inc., Abbott, Danaher, Medtronic, Siemens Healthcare Private Limited, F. Hoffmann-La Roche, Sysmex Corporation, Universal Biosensors, Helena Laboratories, Rapid Diagnostics Group of Companies, and Thermo Fisher Scientific among others.
Majority of the leading players in the market are striving to gain fast track approval from regulatory bodies, such as the U.S. FDA to market and distribute their products worldwide. A few other companies are aiming to diversify their existing portfolios by launching innovative products. Meanwhile, some of the local and start-up companies are engaging in acquisitions and partnerships to co-develop new products and cater to the ever-increasing demand from customers globally.
| Report Attribute | Details |
| Growth Rate | CAGR of 4.5% 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 2022-2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
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| Regions Covered |
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| Key Countries Profiled |
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| Key Companies Profiled |
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| Customization | Available Upon Request |
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The global rapid coagulation testing market is expected to surpass US$ 8.6 Billion in 2032.
Europe is likely to lead the rapid coagulation testing market in the forecast period.
Entegrion, Inc., Abbott, Danaher, Medtronic, Siemens Healthcare Private Limited, F. Hoffmann-La Roche, and Sysmex Corporation are some of the renowned companies in the rapid coagulation testing market.
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