The global Blood Coagulation Analyzer market size is expected to reach USD 11.7 billion by 2028 at a CAGR of 10.6%, according to a new report by Reports and Data.
As well as vitamin K deficiency and heart disease, genetic disorders can contribute to blood clotting. The increasing understanding of blood clots and the fact that they can be avoided with early detection are factors driving the demand for Blood Coagulation Analyzer. More than 100,000 individuals die per year in the U.S. due to blood clots, according to the CDC. Without warning, people with pulmonary embolism sometimes die. These variables are also driving the growth of the market for Blood Coagulation Analyzer.
Over the coming years, lack of knowledge of timely blood clot detection and lack of qualified Blood Coagulation Analyzer would restrict market development. A substantial portion of the population in developed countries is also unaware of the need for routine check-ups. People do not have access to proper healthcare in many under-privileged nations. These factors can pose significant challenges to the growth of the market for Blood Coagulation Analyzer during the forecast period.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.
Key Highlights from the Report:
- Roche presented its cobas t 711 coagulation analyzer at the China International Import Expo in 2020. The analyzer, equipped with intelligent Walk Away Reagent Control, is designed to be capable of completely automatic and scheduled reconstitution of reagents. The product also helped boost the coagulation pipeline of Roche’s business in China.
- Analyzers have held a commanding share of total sales in 2020 and are projected to rise over the forecast period at a significant CAGR.
- The highest market share over the forecast period is expected to be held by optical technology. Due to the combination of immunological, chromogenic and photo-optical techniques that have resulted in the development of high-performance, multipurpose optical haemostasis analyzers, this growth is expected.
- The D-dimer segment was projected to account for the largest share in terms of test form.
- The market is segmented into hospitals, testing centres, research institutes and others on the basis of end users.
- In 2020, the clinical laboratory segment had the largest share. For routine haematological examination of patients, clinical laboratory analyzers are usually used in hospitals.
- The largest share of consumables in the commodity category. All tests require the existence of reagents, so large inventories or repeated orders of these materials are placed by hospitals, resulting in greater demand. It is anticipated that the sales of these consumables will increase the amount of research and the development of new assays.
- Due to sufficient hospitals, health centres, and clinics, the Asia Pacific coagulation analyzer market is expected to experience a lucrative growth rate. With economic growth and improved access to healthcare in countries with large populations such as India and China, more people are paying more attention to their health, generating growth opportunities for the industry.
Research Methodology:
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Blood Coagulation Analyzer Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
Top Companies Profiled in the Report:
- Siemens
- Abott
- Alere
- Helena laboratories
- Roche
- Instrumentation Laboratory
- Stago
- Sysmex
- Thermofisher
Blood Coagulation Analyzer Market Segmentation:
Product Outlook:
- Analyzers
- Clinical Laboratory Analyzers
- Point of Care Analyzers
- Consumables
- Reagents
- Stains
Technology Outlook:
- Mechanical
- Electrochemical
- Optical
- Photo-optical/Chromogenic/Immuno
- Others/Nephelometric
- Others
Test Type Outlook:
- APTT
- D-Dimer
- Fibrinogen
- Prothrombin
- Others
End-use Outlook:
- Hospitals
- Research Institutes
- Diagnostic Centres
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Blood Coagulation Analyzer market over the forecast period?
- What are the major factors driving the growth of the Global Blood Coagulation Analyzer Market?
- What are the key challenges impacting the global Blood Coagulation Analyzer market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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