The coagulation analyzers market is expected to grow at a CAGR of around 8.85% over the forecast period, 2022-2027.
The impact of the COVID-19 pandemic on the coagulation analyzers market was considerable. As per a November 2021 published article titled "Meta-analysis of coagulation parameters associated with disease severity and poor prognosis of COVID-19", coagulopathy could be considered a risk factor for disease severity and mortality of COVID-19. Furthermore, as per a February 2022 update by the National Institutes of Health, for hospitalized patients with COVID-19 who experience rapid deterioration of pulmonary, cardiac, or neurological function or sudden localized loss of peripheral perfusion, the panel recommends evaluating the patients for thromboembolic disease. Thus, such studies are anticipated to bolster the demand for coagulation analyzers among the COVID-19 patients, thereby, boosting the market growth.
Further, the global coagulant analyzers market is driven by the increasing prevalence of chronic blood disorders, rising geriatric population coupled with the increasing prevalence of chronic diseases, and increasing laboratory automation. The increasing prevalence of chronic blood disorders is a major factor driving the market's growth. For instance, as per the Annual Global Survey 2020 by the World Hemophilia Federation, a total number of 347,026 people were affected by bleeding disorders in 2020. Additionally, as per the 2022 update by the International Society on Thrombosis and Haemostasis, every year there are approximately 10 million cases of venous thromboembolism worldwide. As per the same source, in Europe, there are 544,000 Deep Vein Thrombosis (VTE) related deaths every year. Thus, such an increase in the patients suffering from blood disorders is likely to impel the demand for coagulation analyzers, thereby contributing to the market growth.
However, the high cost of fully automated coagulation analyzers and the slow adoption of advanced hemostasis instruments in developing and underdeveloped economies are restraining the market's growth.
By test type, the D-dimer testing segment is expected to witness significant growth over the forecast period. D-dimer is one of the protein fragments produced when a blood clot gets dissolved in the body. It is usually undetectable or is detectable at a very low level unless the body is forming or breaking down blood clots, post which, its level in the blood can significantly rise.
Several studies indicate the link between elevated levels of d-dimer and t-PA antigen levels with coronary heart diseases (CHD) risk. For instance, as per a December 2020 published article, titled, "D-dimers are associated with coronary artery disease severity assessed using Syntax and Syntax II scores in patients with ST elevation myocardial infarction", the study concluded that the increased D-dimer levels are associated with the severity of coronary artery disease (CAD). Similarly, as per an article titled "D-Dimer Predicts Long-Term Cause-Specific Mortality, Cardiovascular Events, and Cancer in Patients With Stable Coronary Heart Disease" published in Circulation (AHA Journal) in January 2019, stated that D-dimer levels, irrespective of other risk variables, predict the long-term likelihood of arterial and venous incidents, cardiovascular death, and non-CVD noncancer deaths. D-dimer is also a reliable indicator of cancer occurrence and death. These findings support a relationship between D-dimer and fatal incidents in a variety of conditions and show that this link persists during a 10-year follow-up period. As deaths due to cancers, coronary heart and cardiovascular disease are expected to increase, the need for instruments used for analyzing D-Dimer is expected to increase, as they might help to understand the diseases better. Thus, such studies indicate the significant need for D-dimer testing, thereby boosting the demand for coagulation analyzers.
Moreover, several newer products are being introduced that are proliferating the segment's growth. For instance, in October 2021, Trivitron Healthcare, a medical device company, offered a new line of coagulation analyzer products manufactured by Diagon Ltd. The product offers high-throughput requirements, including the critical D-Dimer test for COVID-19.
Thus, due to the above-mentioned factors, the segment is expected to witness significant growth over the forecast period.
Within North America, the United States has held the major share of the market. The major factors fueling the market's growth are the increasing prevalence of chronic blood disorders, increasing laboratory automation, and the implementation of strategic initiatives by the market players.
For instance, as per a February 2020 update by the Centers for Disease Control and Prevention (CDC), the precise number of people affected by deep vein thrombosis is unknown, although as many as 900,000 people could be affected (1 to 2 per 1,000) each year in the United States. As per the same source, estimates suggest that 60,000-100,000 Americans die of venous thromboembolism. Thus, these statistics indicate the growing need for early detection of blood disorders, thereby augmenting the demand for coagulation analyzers within the region and ultimately contributing to the market growth.
Furthermore, several market players are adopting strategic initiatives, thereby contributing to the market's growth. For instance, in April 2020, Haemonetics Corporation, based in the United States, acquired blood coagulation test system developer Enicor.
Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.
There has been a presence of a considerable number of companies that are significantly contributing to the market growth. Product innovation and ongoing R&D activities to develop advanced technologies has helped in boosting the growth of the market. The competition is fierce due to the consolidated nature of the market with top companies reporting to occupy major share in the market. The key players in the market are adopting various strategic moves to sustain the intense competition. Some of the major key players in the market include F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Helena Laboratories, Meril Life Sciences Pvt. Ltd. and Trivitron Healthcare, among others.
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The impact of the COVID-19 pandemic on the coagulation analyzers market was considerable. As per a November 2021 published article titled "Meta-analysis of coagulation parameters associated with disease severity and poor prognosis of COVID-19", coagulopathy could be considered a risk factor for disease severity and mortality of COVID-19. Furthermore, as per a February 2022 update by the National Institutes of Health, for hospitalized patients with COVID-19 who experience rapid deterioration of pulmonary, cardiac, or neurological function or sudden localized loss of peripheral perfusion, the panel recommends evaluating the patients for thromboembolic disease. Thus, such studies are anticipated to bolster the demand for coagulation analyzers among the COVID-19 patients, thereby, boosting the market growth.
Further, the global coagulant analyzers market is driven by the increasing prevalence of chronic blood disorders, rising geriatric population coupled with the increasing prevalence of chronic diseases, and increasing laboratory automation. The increasing prevalence of chronic blood disorders is a major factor driving the market's growth. For instance, as per the Annual Global Survey 2020 by the World Hemophilia Federation, a total number of 347,026 people were affected by bleeding disorders in 2020. Additionally, as per the 2022 update by the International Society on Thrombosis and Haemostasis, every year there are approximately 10 million cases of venous thromboembolism worldwide. As per the same source, in Europe, there are 544,000 Deep Vein Thrombosis (VTE) related deaths every year. Thus, such an increase in the patients suffering from blood disorders is likely to impel the demand for coagulation analyzers, thereby contributing to the market growth.
However, the high cost of fully automated coagulation analyzers and the slow adoption of advanced hemostasis instruments in developing and underdeveloped economies are restraining the market's growth.
Key Market Trends
D-Dimer Testing Segment is Expected to Dominate the Market During the Forecast Period
By test type, the D-dimer testing segment is expected to witness significant growth over the forecast period. D-dimer is one of the protein fragments produced when a blood clot gets dissolved in the body. It is usually undetectable or is detectable at a very low level unless the body is forming or breaking down blood clots, post which, its level in the blood can significantly rise.
Several studies indicate the link between elevated levels of d-dimer and t-PA antigen levels with coronary heart diseases (CHD) risk. For instance, as per a December 2020 published article, titled, "D-dimers are associated with coronary artery disease severity assessed using Syntax and Syntax II scores in patients with ST elevation myocardial infarction", the study concluded that the increased D-dimer levels are associated with the severity of coronary artery disease (CAD). Similarly, as per an article titled "D-Dimer Predicts Long-Term Cause-Specific Mortality, Cardiovascular Events, and Cancer in Patients With Stable Coronary Heart Disease" published in Circulation (AHA Journal) in January 2019, stated that D-dimer levels, irrespective of other risk variables, predict the long-term likelihood of arterial and venous incidents, cardiovascular death, and non-CVD noncancer deaths. D-dimer is also a reliable indicator of cancer occurrence and death. These findings support a relationship between D-dimer and fatal incidents in a variety of conditions and show that this link persists during a 10-year follow-up period. As deaths due to cancers, coronary heart and cardiovascular disease are expected to increase, the need for instruments used for analyzing D-Dimer is expected to increase, as they might help to understand the diseases better. Thus, such studies indicate the significant need for D-dimer testing, thereby boosting the demand for coagulation analyzers.
Moreover, several newer products are being introduced that are proliferating the segment's growth. For instance, in October 2021, Trivitron Healthcare, a medical device company, offered a new line of coagulation analyzer products manufactured by Diagon Ltd. The product offers high-throughput requirements, including the critical D-Dimer test for COVID-19.
Thus, due to the above-mentioned factors, the segment is expected to witness significant growth over the forecast period.
North America is Expected to Dominate the Coagulation Analyzers Market
Within North America, the United States has held the major share of the market. The major factors fueling the market's growth are the increasing prevalence of chronic blood disorders, increasing laboratory automation, and the implementation of strategic initiatives by the market players.
For instance, as per a February 2020 update by the Centers for Disease Control and Prevention (CDC), the precise number of people affected by deep vein thrombosis is unknown, although as many as 900,000 people could be affected (1 to 2 per 1,000) each year in the United States. As per the same source, estimates suggest that 60,000-100,000 Americans die of venous thromboembolism. Thus, these statistics indicate the growing need for early detection of blood disorders, thereby augmenting the demand for coagulation analyzers within the region and ultimately contributing to the market growth.
Furthermore, several market players are adopting strategic initiatives, thereby contributing to the market's growth. For instance, in April 2020, Haemonetics Corporation, based in the United States, acquired blood coagulation test system developer Enicor.
Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.
Competitive Landscape
There has been a presence of a considerable number of companies that are significantly contributing to the market growth. Product innovation and ongoing R&D activities to develop advanced technologies has helped in boosting the growth of the market. The competition is fierce due to the consolidated nature of the market with top companies reporting to occupy major share in the market. The key players in the market are adopting various strategic moves to sustain the intense competition. Some of the major key players in the market include F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Helena Laboratories, Meril Life Sciences Pvt. Ltd. and Trivitron Healthcare, among others.
Additional Benefits:
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Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market Size by Value - USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Nihon Kohden Corporation
- F. Hoffmann-La Roche Ltd
- Siemens Healthcare
- Thermo Fisher Scientific Inc
- Diagnostica Stago Sas
- Helena Laboratories
- Beckman Coulter Inc.
- Meril Life Science Pvt. Ltd
- Eurolyser Diagnostica GmbH
- Trivitron Healthcare
Methodology
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