Coagulation/Hemostasis Analyzer Market Overview
Coagulation/Hemostasis Analyzer Market Size is estimated to reach $5.7 billion by 2027. Furthermore, it is poised to grow at a CAGR of 10.2% over the forecast period of 2022-2027. Hemostasis is the mechanism that causes a blood vessel to stop bleeding. It's a multi-step procedure with several interconnected steps. This cascade culminates in the development of a "plug" that seals off the injured blood vessel and stops the bleeding. It all starts with a laceration of the blood vessel lining. Thrombin activates the conversion of fibrinogen to fibrin which is responsible for coagulation along with the platelet activating factor. Coagulation/Hemostasis Analyzer is a device that identifies clotting deficiencies in patients with thromboembolic illness, thrombocytopenia, reduced liver function, hemophilia, von Willebrand disease, and other disorders. They're also used to track how medications like heparin, oral anticoagulants, and thrombolytic and antiplatelet agents affect whole blood, as well as how blood component therapy affects it. An INR (international normalized ratio) is a calculation based on the results of a prothrombin test. The liver produces the protein prothrombin. Clotting (coagulation) factor is a term that refers to a group of chemicals. An INR of 1.1 or less is considered normal in healthy adults. For persons using warfarin for conditions like atrial fibrillation or a blood clot in the leg or lung, an INR range of 2.0 to 3.0 is generally considered to be an effective therapeutic range. These devices are used to measure prothrombin levels. A prothrombin level of less than 70% indicates hepatic insufficiency, such as hepatitis, cirrhosis, jaundice, or a vitamin K shortage. These tests are typically ordered for inpiduals who have unexplained bleeding or thromboses. Automatic and semiautomatic analyzers are available, with the latter requiring the assistance of a laboratory technician for sample preparation and introduction. The number of channels, or the number of different samples that may be analyzed at the same time, varies among these devices. The frequency of coagulation screening tests ordered has risen dramatically in recent years. As a result, automated coagulation testing has become more efficient, allowing for the development of high-throughput, accurate, and precise analyzers with minimum human error in measurement. Automated platelet function analyzers, flow cytometers, PCR, and microarrays are among the current technologies. All of these technologies, when combined, remove pre-analytical and post-analytical handling, resulting in greater accuracy and productivity.
Coagulation/Hemostasis Analyzer Market Report Coverage
The report: “Coagulation/Hemostasis Analyzer Market Forecast (2022-2027)", by Industry ARC covers an in-depth analysis of the following segments of the Coagulation/Hemostasis Analyzer Market.
- Geographically, North America held a dominant market share in the year 2021 on account of the increasing prevalence of cardiovascular diseases, and cerebrovascular diseases. North America is expected to offer lucrative growth opportunities to the manufacturers owing to the increasing prevalence of cardiovascular diseases and cerebrovascular diseases, growing demand for better healthcare facilities as well as the boost in the investments done by government and private companies in the pharma industry. The proliferation of cardiovascular diseases is predicted to augment the market growth during the forecast period of 2022-2027.
- The growing prevalence of cardiovascular disorders is estimated to drive the market growth of the Coagulation/Hemostasis Analyzer Market. However, the high cost of Coagulation/Hemostasis Analyzer poses threat to the market growth.
- A detailed analysis of strengths, weaknesses, opportunities, and threats will be provided in the Coagulation/Hemostasis Analyzer Market Report.
Coagulation/Hemostasis Analyzer Market: Market Share (%) by region, 2021
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Coagulation/Hemostasis Analyzer Market Segmentation Analysis- By Test Type
Coagulation/Hemostasis Analyzer Market based on test type can be further 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, Heparin and Protamine Dose-Response Tests for ACT and Others. Prothrombin Time Test held a dominant market share in the year 2021 and is estimated to be the fastest-growing, with a CAGR of 11.7% over the forecast period of 2022-2027. According to WebMD, in 2020, the prothrombin time, also referred to as the PT or pro time test is a blood clotting test. If the patient is on the blood thinner warfarin, prothrombin time will almost certainly be monitored. The prothrombin time is expressed as an international normalized ratio in this case (INR). The rising prevalence of cardiovascular diseases is contributing to this expansion. According to WHO, in 2021, cardiovascular diseases (CVDs) are the leading cause of death worldwide, claiming the lives of an estimated 17.9 million people per year. Coronary heart disease, cerebrovascular illness, rheumatic heart disease, and other heart and blood vessel problems are all classified as CVDs. Heart attacks and strokes account for more than four out of every five CVD deaths, with one-third of these deaths occurring before the age of 70. In addition, the Hemostasis-Coagulation Analysis Market is expanding owing to the rising demand for improved analyzers that can deliver results in less time. The Activated Partial Thromboplastin Time (APTT) sector held the second-largest share in 2021 owing to reasons such as the increased use of activated partial thromboplastin time (APTT) tests for monitoring coagulation inhibitors like warfarin and heparin and the rise in demand for APTT tests in clinical laboratories.
Coagulation/Hemostasis Analyzer Market Segmentation Analysis- By End User
Coagulation/Hemostasis Analyzer Market based end user can be further segmented into Hospitals, Diagnostic Centers, Cardiology Clinics, and Others. The Hospitals segment held a dominant market share in the year 2021. Owing to variables including the rising prevalence of thrombotic thrombocytopenic purpura (TTP) and the increased availability of advanced hemostasis-coagulation analyzers in hospitals. The Hemostasis-Coagulation Analysis Market is growing owing to an increase in the demand for prothrombin time (PT) testing in hospitals.
The Clinical Laboratories segment is expected to increase at the quickest rate, with a CAGR of 11.8% from 2022 to 2027. This increase is owing to variables such as an increase in the volume of coagulation testing in clinical laboratories and increased patient awareness of the many tests available in clinical laboratories. Furthermore, as a result of the aforementioned reality, there is a greater desire among people to take advantage of such services that allow for further development.
Coagulation/Hemostasis Analyzer Market Segmentation Analysis- By Geography
The Coagulation/Hemostasis Analyzer Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held a dominant market share of 33% in the year 2021 as compared to the other counterparts on account of increased awareness about the Coagulation/Hemostasis Analyzer in monitoring and one of the diagnosing parts for more prevalent diseases like myocardial infarction.
However, Asia-Pacific is estimated to be the fastest-growing over the forecast period of 2022-2027 on account of rising healthcare expenditure, demand for better healthcare facilities, and the increasing prevalence of cardiovascular diseases. According to WHO, in 2020, cardiovascular diseases are Asia-top Pacific's cause of death, despite the fact that it is highly preventable. In the Southeast Asian Region (SEAR), CVD was the cause of an estimated 9.4 million fatalities in 2019, accounting for one-third of all deaths.
Coagulation/Hemostasis Analyzer Market Drivers
Growing Prevalence of Lifestyle Change Diseases Especially Cardiovascular Diseases are driving the Market of Coagulation/Hemostasis Analyzer.
According to the World Health Organization (WHO), cardiovascular diseases (CVDs) will be the main cause of death in 2021, killing an estimated 17.9 million people each year. CVDs include coronary heart disease, cerebrovascular disease, rheumatic heart disease, and various heart and blood vessel issues. More than four out of every five CVD deaths are caused by heart attacks and strokes, with one-third of these deaths happening before the age of 70. Since hemostasis analyzers are used in monitoring anticoagulants or blood thinners like heparin and warfarin which are used in the treatment and prophylaxis of myocardial infarction (heart attack). These devices are also used in the diagnosis of many lifestyle-changing diseases like cerebrovascular disease, Reynold’s disease, Atherosclerosis, Hemorrhage, and Deep vein thrombosis.
Increase in the Government Support is Aiding the Market for Coagulation/Hemostasis Analyzer.
The Department of Health of Australia has invested $29 million for research for developing advanced devices to tackle heart disease and stroke in 2020. Government support for the development of hemostasis-coagulation analyzers for the treatment of various ailments is one of the important factors driving the growth of the Hemostasis-Coagulation Analysis Market. In addition, the need for advanced analyzers has increased in response to the growing demand for accurate results in less time, propelling the growth of the Hemostasis-Coagulation Analyzers Market. Furthermore, in order to improve the quality of life of patients with thrombotic and bleeding illnesses, governments are encouraging better clinical laboratory systems and point-of-care diagnostic systems.
Coagulation/Hemostasis Analyzer Market Challenges
The High Cost of Coagulation/Hemostasis Analyzers is a Major Challenge for Coagulation/Hemostasis Analyzer Market.
One of the major reasons that are expected to slow the growth of the Hemostasis-Coagulation Analyzers Market is the high cost of hemostasis-coagulation analyzers. The average cost of Coagulation Analyzers is around 25,000$-30,000$. Key companies in the market, on the other hand, are cooperating with other players to conduct various research and development activities in order to release advanced hemostasis-coagulation analyzers for the treatment of various bleeding diseases, which are said to further enhance the cost of Coagulation Analyzers. Especially, automated coagulation/hemostasis analyzers are expensive in contrast to semi-automatic. Moreover, it also needs strict standard operating procedures (SOP) and skilled persons.
Coagulation/Hemostasis Analyzer Industry Outlook
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Coagulation/Hemostasis Analyzer Market. The top 10- Coagulation/Hemostasis Analyzer Market companies are-
- Nihon Kohden
- Instrumentation Laboratory
- Sysmex Corporation
- Abbott Laboratories
- Danaher Corporation
- Thermo Fisher Scientific
- Bio Group Medical System
- Genrui Biotech Inc.
- Helena Laboratories
- Siemens Healthineers Group
- In December 2020, Nihon Kohden has launched MEK-1305 Celltac+, an Automated Hematology, and ESR Analyzer. MEK-1305 is the world's first hematology analyzer that can simultaneously assess the complete blood count (CBC)*1, as well as the white blood cell 3-part differential*2 and the erythrocyte sedimentation rate (ESR)*3. MEK-1305 achieves simultaneous ESR and CBC measurement in as little as 2 minutes, compared to the traditional ESR measurement method, which takes at least 60 minutes to read the result.
- In July 2020, Sysmex Corporation has launched the Automated Blood Coagulation Analyzers CN-6500/CN-3500. These new Analyzers come with a measuring unit using chemiluminescence enzyme immunoassay methodology. These Analyzers measure blood coagulation testing parameters, such as molecular markers for blood coagulation.
- In September 2019, Instrumentation Laboratory has launched the HemosIL AcuStar ADAMTS13 Activity Assay. This fully automated, chemiluminescent immunoassay for use on the ACL AcuStar® Hemostasis Testing System provides clinicians with rapid, on-demand ADAMTS13 activity testing to aid in the diagnosis and monitoring of Thrombotic Thrombocytopenic Purpura (TTP), with first results produced in approximately 30 minutes. The HemosIL AcuStar ADAMTS13 Activity Test is the first and only automated, on-demand assay for measuring ADAMTS13 Activity, the single biomarker specific for TTP, a life-threatening hematologic illness.