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| Hemostasis/ Coagulation Analyzer Market Growth |
The hemostasis and coagulation analyzer market primarily includes point-of-care
hemostasis testing analyzers and clinical laboratory hemostasis testing
analyzers that are used to test various blood coagulation parameters and
processes for diagnostic and treatment monitoring purposes. These analyzers
measure parameters like coagulation factors, fibrinogen levels, D-dimer and
prothrombin time and help detect bleeding disorders, determine therapy, and
monitor anticoagulant drug therapy among others. The advantages of these
analyzers are that they provide fast and automated testing methods for
hemostasis and coagulation parameters as compared to traditional manual
methods. Considering the rising lifestyle and chronic diseases like
cardiovascular diseases and cancer which require coagulation monitoring, there
is a growing need for these analyzers in hospitals, clinics and diagnostic
centers.
The Global Hemostasis/ Coagulation Analyzer
Market is estimated to be valued at US$ 6.47 Bn in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period
2024 to 2031.
Key Takeaways
Key players operating in the Hemostasis/
Coagulation Analyzer Market Growth are Horiba Medical, Siemens
Healthineers AG, Agappe Diagnostics Ltd, NIHON KOHDEN CORPORATION, Sysmex
Corporation, F. Hoffmann-La Roche Ltd, Stago Group, Maccura Biotechnology Co.,
Ltd., Thermo Fisher Scientific Inc., Haemonetics Corporation, Genrui Biotech
Co., Ltd., BIOLABO S.A.S, Erba Mannheim, Sclavo Diagnostics International, and
Helena Laboratories Corporation. Second paragraph is talking about the growing
demand in market and third paragraph is talking about global expansion of
market.
The global hemostasis and coagulation analyzer market is expected to witness
significant growth over the forecast period driven by the steadily increasing
global incidence of chronic diseases such as cardiovascular diseases, cancer,
diabetes as well as rising demand for point-of-care testing. Coagulation
disorders occur frequently in cancer, and monitoring of coagulation parameters
is vital during cancer diagnosis and treatment which will boost the demand for
these analyzers. Furthermore, technological advancements leading to the
development of advanced rapid point-of-care testing analyzers will augment the
adoption across healthcare settings.
Geographically, North America is anticipated to dominate the global market over
the forecast years owing to increasing healthcare expenditure, availability of
advanced hemostasis testing products, and presence of leading market players in
the region. However, the Asia Pacific region is projected to exhibit the
highest growth rate owing to improving access to diagnostics, increasing
healthcare spending, rising patient pool of chronic diseases in counties like
China and India. Product launches and expansions into emerging markets will
further aid in the global expansion of key hemostasis and coagulation analyzer
companies.
Market drivers
The global hemostasis and coagulation analyzers market growth is majorly driven
by the rising prevalence of lifestyle diseases like cardiovascular diseases and
obesity-related cancers that increase incidents of coagulation disorders.
According to estimates, around 17.9 million people die annually from
cardiovascular diseases globally. This rising disease burden has augmented the
need for routine coagulation screening and monitoring in hospitals as well as
point-of-care settings which fuels the demand for these analyzers. Furthermore,
the increasing volume of surgical procedures and growing geriatric population
that is more prone to coagulation defects will spur the demand. Technological
advancements facilitating rapid and automated testing methods are further
augmenting the adoption of hemostasis and coagulation analyzers across
healthcare sectors.
Current geopolitical instability is impacting the Hemostasis/ Coagulation
Analyzer Market growth. The ongoing
Russia-Ukraine war has disrupted the supply chains of key raw materials and
components used in manufacturing hemostasis analyzers. Ukraine is a major
exporter of metals like copper and steel which are required to make medical
devices. Restrictions on Russian exports have also interrupted supplies of
specialty gases like neon that are essential for manufacturing semiconductors
and electronics going into hemostasis analyzers. The volatile fuel prices have
also pushed up transportation costs, affecting the costs of finished products
for manufactures. To counter these challenges, companies are diversifying their
supply sources and evaluating nearshoring/friendshoring options. They are also
investing in developing alternate material sources and advancing digital supply
chain visibility tools. However, geopolitical risks are expected to remain high
given the unpredictable dynamics of ongoing global conflicts. Hemostasis
analyzers companies need to have robust contingency plans and flexible
production networks to cope with future supply disruptions.
In terms of geographical concentration, currently North America accounts for
the largest share of the global Hemostasis/ Coagulation Analyzer Market in terms of value. This is attributed to
factors like the rising geriatric population susceptible to blood clotting
disorders, favorable reimbursement policies, and high adoption of advanced
diagnostic technologies among healthcare facilities in the region. The market
is also witnessing strong growth in Asia Pacific due to increasing investments
byboth public and private players to strengthen healthcare systems, growing
medical tourism, rising affluence, and expanding patient bases of heart
diseases and diabetes in nations like China and India.
The fastest growing regional market for Hemostasis, Coagulation Analyzer is
expected to be Asia Pacific during the forecast period. This can be accredited
to surging healthcare expenditure, rising awareness about early disease
diagnosis, growing prevalence of lifestyle diseases, increasing number of
product launches catering to local needs, and improving access to health
insurance in developing countries such as India, China, Indonesia and others.
Asia represents a lucrative expansion opportunity for market players given its
huge patient population and rapidly developing medical infrastructure and
research facilities.