Coagulation/Hemostasis Analyzer Market Size (2023 – 2030)

The Coagulation/Hemostasis Analyzer Market was valued to be at USD 4.12 billion in 2021 and is estimated to register a revenue of USD 6.18 billion by 2030. The market is anticipated to witness a compound annual growth rate (CAGR) of 5.2% over the forecast period of 2023 - 2030. The growing number of cases of blood-related disorders has resulted in an increase in the allocation of resources for the establishment of coagulation analyzers, boosting the market's growth. Furthermore, an increase in the number of illnesses connected with cardiovascular and blood problems, as well as an increase in the elderly and obese population, are driving the market growth

INDUSTRY OVERVIEW

Coagulation, also known as haematology, is the mechanism through which blood develops a clot to help heal a wound. Coagulation analyzers are generally used by doctors to quantify and categorise blood cells. Patients' blood clotting function is assessed using a variety of coagulation tests such as PT, APTT, ACT, and others. Haematology analyzers can provide details on haemoglobin in red blood cells (RBCs), corpuscular data, platelet counts, and hematocrit levels in most cases. New devices, however, have been created to assess two specialised cell types: nucleated RBCs and immature white cells. Coagulation analyzers are now in high demand due to a steady increase in the number of people suffering from blood disorders and lifestyle illnesses. Hemostasis-Coagulation analyzers are widely being used to help patients with thrombotic and bleeding diseases improve their quality of life, as well as to diagnose and treat thrombotic thrombocytopenic purpura (TTP).

Rapid technological improvements and the introduction of novel coagulation analyzer tests have improved the effectiveness and productivity of hemostasis laboratories during the last decade. High throughput, adaptability, and dependability are all features of several modern sophisticated coagulators. Aside from that, they provide increased accuracy and precision, as well as simple-to-use sophisticated software with built-in graphs and calibration curves. Furthermore, the frequency of heart illnesses and blood disorders has increased significantly, necessitating the development of enhanced coagulation analyzers across the world. Aside from that, the growing number of hospitals, diagnostic centres, and research institutes throughout the world has a favourable effect on coagulation analyzer sales.

COVID-19 IMPACT ON COAGULATION/HEMOSTASIS ANALYZER MARKET

There were no precise diagnostic techniques available to diagnose the illness in patients during the early stages of the COVID-19 pandemic. Initially, alternative diagnostic tests were employed, but these were ineffective. Because specialised COVID-19 diagnostic tests were unavailable, diagnostic companies took an opportunity to market their COVID-19 diagnostic kits. COVID-19 diagnostics kits were brought into the local as well as worldwide market by several significant firms as well as some start-ups from various nations. These companies gained a competitive advantage over other diagnostics companies by taking advantage of the need for COVID-19 diagnostic tests, which helped them sustain income during the crisis. COVID -19 is likely to have a big influence on the Hemostasis/Coagulation Analyzer market because of these aspects.

MARKET DRIVERS: 

The rise in the incidence of cardiovascular problems across the world is the major factor driving the Coagulation/Hemostasis market growth

Due to the sheer rising occurrences of haemorrhage and other lifestyle-related disorders, hemostasis-coagulation analyzers are becoming more widely used across the world. Changes in lifestyles and an increase in obesity cases owing to changes in eating habits are also influencing the coagulation/hemostasis market's growth rate. Furthermore, raising knowledge about the availability of diagnostic techniques that can prevent heart attacks is increasing market demand. One of the main reasons driving the growth of the Hemostasis-Coagulation Analysis Market is government funding for the development of hemostasis-coagulation analyzers for the treatment of these conditions.

Technological Advancements in Hemostasis-Coagulation Analyzers are likely to fuel the market development

The rising use of automated systems in laboratories is having a significant impact on market demand. To improve the quality of life of patients suffering from thrombotic and bleeding diseases, the leading companies are concentrating on creating sophisticated clinical laboratory analyzers and point-of-care diagnostic analyzers. The need for improved analyzers has risen in response to the increased demand for precise results in less time, boosting the Hemostasis-Coagulation Analysis Market even more.

MARKET RESTRAINTS:

The high cost linked with the automated coagulation analyzer is the major challenge to the market growth

The market's major players are working together to perform multiple explorations to produce enhanced hemostasis-coagulation analyzers for the treatment of various bleeding diseases. However, one of the primary reasons that are likely to slow the growth of the Hemostasis-Coagulation Analysis Market is the high cost of automated hemostasis-coagulation analyzers.

The worldwide coagulation/hemostasis analyzer market is steadily slowing due to a lack of standardisation

Operation and maintenance costs for automatic coagulation analyzers are quite high, which continues to be a challenge for market development. The market for coagulation/hemostasis analyzers is further hampered by stringent rules and regulations imposed by government agencies in the approval of medical devices. The emergence of low-cost, high-tech alternatives is discreetly lowering market demand. Because of a lack of sufficient understanding of the use of analyzers, people in remote regions are less informed of these approaches, which is slowing the market's development pace.

Coagulation/Hemostasis Analyzer Market Report Coverage:

This research report on the Coagulation/Hemostasis analyzer market has been segmented and sub-segmented based on By Component, By Delivery Model, By Function Outlook, By End User and By Region.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY PRODUCT

• Clinical Laboratory Analyzers
• Point-of-care Testing Analyzers

Based on the product, the Coagulation/Hemostasis Analyzer Market is segmented into Clinical Laboratory Analyzers and Point-of-care Testing Analyzers. Among these, the Clinical Laboratory Analyzers contributed the maximum to the market share. Due to increased demand for automated hemostasis analyzers in medical diagnostics, the market is expected to rise significantly over the forecast period.

COAGULATION/HEMOSTASIS ANALYZER MARKET – BY TEST

• Prothrombin Time Testing
• Fibrinogen Testing
• Activated Clotting Time Testing
• Activated Partial Thromboplastin Time Testing
• D-dimer Testing
• Platelet Function Tests
• Anti-Factor XA Tests
• Heparin & Protamine Dose-response Tests for ACT
• Others

Based on the Test, the Coagulation/Hemostasis Analyzer Market is segmented into Prothrombin Time Testing, Fibrinogen Testing, Activated Clotting Time Testing, Activated Partial Thromboplastin Time Testing, D-dimer Testing, Platelet Function Tests, Anti-Factor XA Tests and Heparin & Protamine Dose-response Tests for ACT among others.  The Prothrombin Time (PT) Test category had the greatest market share in 2021 and is predicted to grow at the quickest rate, with a CAGR of 10.8% from 2023 - 2030. The rise in commercial availability of analyzers to help in the diagnosis and monitoring of thrombotic thrombocytopenic purpura (TTP) and increased knowledge of prothrombin time (PT) tests are both contributing to this expansion. The Hemostasis-Coagulation Analysis Market is expanding due to the rising demand for better analyzers that can deliver findings in less time. Besides this, Activated Partial Thromboplastin Time Testing also had a major influence on the market development. Due to factors such as the increasing implementation of activated partial thromboplastin time (APTT) tests for identifying coagulation inhibitors and the growing market for APTT tests in clinical laboratories, the Activated Partial Thromboplastin Time (APTT) segment held the second-largest market share in 2021. Due to factors such as the increasing implementation of activated partial thromboplastin time (APTT) tests for identifying coagulation inhibitors and the growing market for APTT tests in clinical laboratories, the Activated Partial Thromboplastin Time (APTT) segment held the second-largest market share in 2021.

COAGULATION/HEMOSTASIS ANALYZER MARKET – BY TECHNOLOGY

• Optical
• Mechanical
• Electrochemical
• Other

Based on the Test, the Coagulation/Hemostasis Analyzer Market is segmented into Optical, Mechanical and Electrochemical. Over the forecast period, optical technology is projected to grow the most. The increased use of immunological, chromogenic, and photo-optical methods has resulted in the development of high-performance, multifunctional optical hemostasis analyzers. Besides this, the Mechanical haemostasis technology is poised to contribute significantly to the market growth. Due to more advanced, precise, and effective management at a reduced cost, the mechanical hemostasis analyzers market is expected to grow significantly.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY END-USER

• Hospitals
• Research Institutes
• Clinical Laboratories
• Others

Based on the end-users, the Coagulation/Hemostasis Analyzer Market is segmented into Hospitals, Research Institutes and Clinical Laboratories among others. Because of reasons such as the rising prevalence of thrombotic thrombocytopenic purpura (TTP) and the increased availability of sophisticated hemostasis-coagulation analyzers in hospitals, the Hospitals sector retained the biggest share in 2021. The need for prothrombin time (PT) tests in hospitals are propelling the Hemostasis-Coagulation Analysis Market forward. The Clinical Laboratories category is projected to increase at the quickest rate, with a CAGR of 10.5 per cent between 2022 and 2030. This expansion is due to reasons such as an increase in the volume of coagulation testing in clinical labs and increased patient knowledge of the many tests available in clinical laboratories.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY REGION

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa

Based on region, the Coagulation/Hemostasis Analyzer Market is grouped into North America, Europe, Asia Pacific, Latin America, The Middle East, and Africa. In 2021, North America contribute significantly and captured over 30% of the global market share. The increasing frequency of bleeding disorders and lifestyle-related illnesses, as well as the increased availability of modern hemostasis-coagulation analyzers in hospitals, are driving this segment's expansion in the North American region. The Hemostasis-Coagulation Analysis Market is growing due to the rising demand for clinical laboratory analyzers and point-of-care testing analyzers to improve patient quality of life. Moreover, elements such as the rise in lifestyle illnesses such as obesity, diabetes, and cardiovascular disorders, as well as the rising prevalence of blood disorders, are propelling the North American market. During the projection period, the European market is likely to be the second-largest in the worldwide coagulation/hemostasis analyzer market. The burgeoning ageing population, Y-O-Y rise in the occurrence of chronic blood illnesses, sedentary lifestyle changes, and rising blood relevant disorders are the aspects driving the European market. Over the period 2023 - 2030, the Asia-Pacific segment is projected to increase at the quickest rate. The rise in the usage of APTT tests for detecting coagulation inhibitors and the rising investment by major companies in developing sophisticated hemostasis-coagulation analyzers are driving this segment's growth.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY COMPANIES

There have been a substantial number of firms that have contributed considerably to market expansion. The market's expansion has been aided by product innovation and continued R&D initiatives to produce improved technologies. Because of the industry's consolidated form, competition is severe, with top businesses reporting to have a majority of the market share. To stay competitive in the market, market players are using a variety of methods such as mergers and acquisitions, partnerships, and new product releases to significantly contribute to market growth. Some of the prominent players operating in the Coagulation/Hemostasis Analyzer Market are:

• Danaher Corporation
• Abbott Laboratories
• Siemens Healthineers Group
• Thermo Fisher Scientific
• Sysmex Group
• Horiba
• Nihon Kohden
• Roche Diagnostics
• Robimes India Pvt. Ltd
• Meril Life Sciences
• Maccura Biotechnology Co. Ltd
• Bio Group Medical System
• Genrui Biotech Inc
• A&T Corporation
• Diagnostica Stago SAS
• Haematonics
• Helena Laboratories.

NOTABLE HAPPENING IN THE COAGULATION/HEMOSTASIS ANALYZER MARKET

PRODUCT LAUNCH- In October 2021, Trivitron Healthcare, a medical device business, introduced a new range of Diagon Ltd Coagulation Analyzer products.

PRODUCT LAUNCH- In December 2021, Nihon Kohden introduced an Automated Hematology Coagulation and ESR Analyzer that can concurrently evaluate total blood count and erythrocyte sedimentation rate and offer test results to help patients understand their clinical state.

PRODUCT LAUNCH - In July 2020, Sysmex released the CN-3000 and CN-6000, next-generation automated hemostasis coagulation analyzers, to improve the quality of life of individuals with thrombotic and bleeding diseases and to improve the number of tests conducted for therapy monitoring and diagnosis.