Blood coagulation or clotting is a transition in the blood's physical properties leading to the incorporation of a fibrinogenic, soluble plasma protein into a stable fibrin gel. Coagulation measures are conducted mainly by a coagulometer that analyzes the capacity of the blood to clot and the time for blood clotting. The mechanism of converting blood from a liquid to a kind of gel is coagulation. Coagulation tests are carried out to treat symptoms of clotting, such as thrombosis and hemorrhage.
The tests for coagulation check the capacity of the blood to create a clot. Although various infectious diseases including aids, HIV and lifestyle conditions like diabetes are on the rise, demand for blood testing is expected to remain strong throughout. The market for coagulating tests is on course between 2019-2026 to show strong development. Based on the strong demand for blood testing, the Coagulation Testing market is expected to hit an estimated $3,566.0 million by 2026 end, according to ResearchDive.
Driving factors of the market
The increasing demand for special laboratory hematology and coagulation is expected to drive the growth of the market for coagulation testing. Advanced technologies such as fluorescent microscopy, microfluidics, electrochemical sensing, and photoacoustic detection are used to build point of care (POC) instruments which are cost-effective and highly durable. POC instruments specifically calculate clotting blood electrical, electronic, and electrochemical parameters. Such technical advances are supposed to fuel the growing market for coagulation research. In turn, the increasingly growing cardiovascular issue and chronic blood disorders are projected to fuel the global market development.
Opportunities for Coagulation Testing
The blood-coagulation test based on smartphones is expected to drive market growth. Monitors the blood flow in patients undergoing anticoagulant therapy in this self-testing technology. The device provides patients with a facility to administer this home test. On this platform, it is possible to measure two main coagulation indexes such as prothrombin time (PT) and activated partial thromboplastin time (APTT) This application is extremely efficient and reliable. Such market trends in coagulation testing will generate huge opportunities for market growth in coagulation testing.
Limitations of Market
On the other hand, the lack of skilled expertise and increased device prices may detract from global market development. It is expected that higher costs of coagulation tools and lack of expertise would hinder the growth of the global coagulation testing industry.
Segmentation
The global market for coagulation testing has been segmented by product type into instruments and consumables. Consumable category holds the highest market share, reporting sales of $1,187.9 million in 2018, and is expected to exceed $1,847.2 million by 2026. The Instruments sector is the fastest growing business and will produce $1,718.8 million in revenue in 2026. The market for coagulation monitoring is divided into Activated Partial Thromboplastin Time (APTT), Activated Clotting Time (ACT), Prothrombin Time (PT), Thrombin Time (TT), and others, based on the study type. Coagulation testing prothrombin time market size will generate $2.475.7 million in revenue over the forecasted period. The global market for Thrombin Time would report sales of $392.3 million over the forecast period.
Regional Outlook
According to end-users, the global market for coagulation monitoring is segmented into hospitals and clinics, research labs, home care facilities, point-of-care testing, and others. The point-of-care testing sector is the fast-growing category on the global market and it has generated $291.4 million in revenue in 2018 and is expected to generate $495.7 million in revenue by 2026. Geographically, the market is segmented into regions, viz. North America, Europe, Asia Pacific, and LAMEA. Europe's market share in coagulation research is expected to rise at a CAGR of 6.2% by producing $1.094.8 million in revenue by 2026. Market size research for Asia-Pacific coagulation would produce revenue of $848.7 million by 2026.
Key Players
Market players that check coagulation focus more on merger & acquisition and advanced product development. These are the regular approaches that the developed institutions have adopted. For starters, to focus more on market leader competition research, the study discusses the five-force model of the porter. Significant market leaders for coagulation research include: Thermo Fisher Scientific Inc., Helena Laboratories Corporation., Micropoint Biosciences, Medtronic, F. Hoffmann-La Roche Ltd, NIHON KOHDEN CORPORATION., Abbott., Sysmex Corporation, BD., Danaher. Market Players tend to extend inorganic development approaches to the local markets.
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