Hemostasis and Coagulation Analyzers Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 To 2030

The global hemostasis/coagulation market is expected to grow at a CAGR of 8.5% during the forecast period of 2022 to 2030. A coagulation analyzer, also known as a micro-coagulation system, is a piece of equipment that can monitor and assess the rate at which a clot is forming or coagulating. By identifying the presence of blood clots in the blood arteries, this test makes it possible to reduce the risk of having a heart attack, an embolism, or thrombosis. The growth of this market is primarily attributable to an increase in coagulation diagnosis coupled with point-of-care diagnostics as well as an increase in industrial medical device manufacturing capacity. Additionally, expanding healthcare access in previously unreached markets has the potential to drive revenue growth over the course of the projected period. It is projected that there would be an increase in the demand for coagulation analyzers as a result of the growing population base suffering from lifestyle-associated diseases as well as persistent blood problems. An increase in the incidence of cardiac diseases as well as an increase in the number of new product launches are projected to lead to an increase in demand for improved coagulation analyzers. In addition, raising people's awareness of these disorders is anticipated to improve the diagnosis rate and the management of preventative treatment, which is anticipated to greatly increase the testing volume. It is anticipated that developing economies such as India, China, and Brazil will offer a diverse array of opportunities to the many players in the business. The effectiveness of anti-coagulant medications and hemostatic therapy may be evaluated using these innovative devices, and the danger of bleeding during extensive surgical procedures can be mitigated using them as well. As a result, the continuous introduction of technologically advanced products by key players across the globe is a critical component that is driving the expansion.

Demographic Factors Compelling the Need for Diagnosis

In addition, the expanding prevalence of chronic blood disorders, the rising geriatric population coupled with the expanding prevalence of chronic diseases, and the growing prevalence of laboratory automation are all factors that are driving the global market for coagulant analyzers. One of the primary factors that is contributing to the expansion of the market is the rising incidence of persistent blood diseases. The increasing prevalence of chronic blood diseases is one of the primary factors driving the market that is the subject of this analysis. This trend will lead to an increase in the demand for coagulation analyzers. According to the findings of the study titled Global Hemophilia Care 2020, there have been a total of 393,658 cases of bleeding disorders that have been identified and documented over the course of human history. This figure includes 241,535 cases of hemophilia, 87,729 cases of von Willebrand disease, and 64,394 cases of other bleeding disorders. Because of this, the use of coagulation analyzers will see a significant increase as a direct result of the growing number of people diagnosed with blood disorders. According to reports from the American Cancer Society, there were roughly 21,250 new cases of chronic lymphocytic leukemia diagnosed in the United States in 2021. It is possible to diagnose leukemia by the analysis of blood cells that have been changed by the disease. It is therefore believed that the rising number of cases associated with chronic lymphocytic leukemia would lead to an increase in the need for coagulation tests, which will ultimately accelerate the market's overall expansion.

It is anticipated that the increased utilization of prothrombin time tests in healthcare institutions for evaluating the overall time necessary for the blood to clot will be the primary driver of the market. It is anticipated that these are utilized extensively in hospitals for the purpose of monitoring patients who have mechanical heart valves or ventricular assist devices installed in their hearts. There has been an increase in the number of patients who are diagnosed with conditions such as pulmonary embolism, persistent atrial fibrillation, deep venous thrombosis, and venous embolism, which is projected to drive the market.

Technical Challenges and Associated Costs Limiting the Adoption of Coagulation Analyzers

The market is expected to expand at a slower rate in developing and underdeveloped nations due to the high price of fully automated coagulation analyzers and the slow adoption of improved hemostasis instruments. Coagulation analyzers are incapable of producing comments on the shape of red cells. In addition to this, they are unable to recognize atypical red cell shapes, particularly broken cells. Analyzers on the bleeding edge of technology have just been released, and they are very expensive, not to mention that they demand substantial operating costs. Start-up businesses may not be able to afford these expenditures. On the other hand, flagging can occur in between tests, which would require an exhaustive investigation of blood. This would be a time-consuming process.

Prothrombin Time Dominated the Market Among the Test Type Segment

The testing of prothrombin time held the highest share of the market among all other test-type segments in 2021. The rising popularity of prothrombin time tests as a method for determining how long it takes for the blood to clot is largely responsible for the expansion of this sector of the market. Patients who have had mechanical heart valves implanted, ventricular assist devices, persistent atrial fibrillation, venous embolism and thrombosis of deep veins of lower extremities, deep venous thrombosis, or pulmonary embolism are monitored with these tests. In 2021, APTT test held the second-largest share of the market for hemostasisanalyzers, ranked by the type of test performed. The APTT test is most commonly utilized for the detection of coagulation inhibitors, Disseminated Intravascular Coagulation (DIC), liver diseases, acquired and inherited abnormalities of the intrinsic coagulation pathway, and monitoring of heparin therapy. In addition, the APTT test can be used to evaluate the efficacy of heparin therapy. Several methodologies, including photo-optical and electrochemical, are all viable options for conducting the examination.

Diagnostic Centres Remains as the Dominant End User

In 2021, the diagnostic centers were responsible for the highest share of the overall revenue generated by coagulation analyzers. This can be explained by the enormous number of coagulation tests that are carried out at these institutions on a daily basis. The majority of the time, hospitals and other medical facilities make use of clinical laboratory analyzers in order to perform hematological testing on patients. On the other hand, hospitals are anticipated to have profitable growth over the course of the forecast year. This is primarily because of the rapid development of hospitals, in addition to the availability of analyzers and consumables tailored to the requirements of hospitals. One factor that is anticipated to have a significant impact on rendering is the rapid growth of hospitals and primary healthcare clinics. In addition, encouraging steps taken by the government to enhance the quality of healthcare delivery are anticipated to contribute to future expansion. In addition, the availability of more advanced equipment, which is capable of performing multiple tests and has a higher degree of accuracy, is another significant factor contributing to the growth.

Analyzers Continue to Dominate the Product Segment

Analyzers continued to account for the majority of overall revenue in 2021 and are anticipated to post a healthy CAGR during the forecast period. It is projected that factors such as improving healthcare infrastructure, rising healthcare spending, and increasing occurrences of lifestyle-related illnesses such as obesity, diabetes, and cardiovascular problems will promote this growth. It is anticipated that the growth of the diagnostic market will propel the growth of the hemostasisanalyzer market, which is anticipated to cause an increase in demand for hemostasis analyzers. A special emphasis on providing quality and timely care to patients is expected to propel the growth of the diagnostic market.

Optical Technology to Lead During the Forecast Period

Over the course of the forecast period of 2022 to 2030, it is anticipated that optical technology will acquire the largest share. This rise is anticipated as a result of the increased coupling of immunological and chromogenic with photo-optical techniques. These approaches have led to the development of high-performance, multipurpose optical hemostasisanalyzers, which are expected to drive this expansion.

North America to Remain as the Market Leader

In 2021, North America held the largest revenue share among other regions and North America is also expected to remain dominant during the forecast period. It is anticipated that North American will represent a large portion of the market. The increasing frequency of chronic blood disorders, the increasing laboratory automation, and the execution of strategic efforts by market participants are the primary drivers that are propelling the market's expansion. It is uncertain how many people in the United States are affected by deep vein thrombosis, according to an update published by the Centers for Disease Control and Prevention (CDC) in February 2020. However, this number could approach 900,000 people (1 to 2 per 1,000). According to the same source's estimations, between 60,000 and 100,000 people in the United States pass away annually as a result of venous thromboembolism. In light of these data, there is a larger need for early diagnosis of blood abnormalities, which will lead to a growth in the demand for coagulation analyzers in the region and, as a consequence, will ultimately fuel market expansion. Additionally, a number of companies in the sector are putting strategic plans into action, which is contributing to the expansion of the market. For example, in April 2020, the American firm Haemonetics Corporation purchased Enicor, the company that was responsible for developing a blood coagulation diagnostic system. In a similar vein, the American Clinical Laboratory Association (ACLA) launched the Stop Lab Cuts campaign in July 2022 with the intention of enhancing the clinical laboratory infrastructure in order to make it easier to provide normal patient care. This campaign's primary objective was to facilitate the provision of normal patient care. These kinds of activities are likely to hasten the growth of the market because they expose the essential infrastructural components and increase funding within the nation. As a result of the aforementioned factors, it is anticipated that the market will experience significant growth over the course of the aforementioned time period.

On the other hand, Europe remained the second-largest market in 2021. This is mostly attributable to the increased awareness of and investment in innovative healthcare technologies. As a result of the rising prevalence of blood disorders and the rising demand for technologically sophisticated treatments and goods, it is anticipated that the markets in the Asia Pacific and Latin America would experience rapid expansion throughout the period covered by this analysis. It is anticipated that the market for coagulation analyzers would experience significant expansion in the Middle East and Africa during the next several years.

It is anticipated that the growing number of clinics, hospitals, and health centers in developing countries such as India and China will fuel the growth of the coagulation analyzers market in the Asia Pacific. Another factor that is likely to contribute to the expansion of this market is the existence in these nations of qualified medical personnel who are able to provide treatment that is both efficient and risk-free. It is estimated that the growing elderly population in Asia and the Pacific that is afflicted with leukemia, sickle cell anemia, and thalassemia will push sales in those regions. For example, researchers at Guangxi Medical University discovered that the incidence of thalassemia was highest in South China. This was found to be the case. Therefore, the expansion of the number of research and development activities carried out by a wide variety of educational and research institutions is anticipated to drive growth in the Asia Pacific market.

Market Remains Consolidated with Major Playing Dominating the Market

There has been a presence of a sizeable number of businesses recently, all of which are making major contributions to the expansion of the market. The expansion of the market has been aided by both new product development and ongoing research and development initiatives aimed at the creation of cutting-edge technologies. The highly consolidated nature of the market, in which the leading companies are reported to occupy the majority of the market share, contributes to the cutthroat nature of the competition. F. Hoffmann-La Roche Ltd., Siemens Healthineers AG, Helena Laboratories, Meril Life Sciences Pvt. Ltd., and Trivitron Healthcare are among the major key players in the market. Other major key players in the market include Meril Life Sciences Pvt. Ltd. and Trivitron Healthcare, Seimens Healthcare, Roche Diagnostics, and Instrumentation Laboratory are three of the most prominent companies. As a result of their simple accessibility on a worldwide scale, the vast majority of the leading players have established a presence in international markets and are engaged in direct competition with one another in an effort to increase sales. On the other hand, it is anticipated that this pattern will shift throughout the course of the period under consideration as a result of the growing investments made by players to set up their distribution offices inside the region. As a result of this, direct supply agreements will pick up steam during the course of the anticipated term.

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Hemostasis and Coagulation Analyzers market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Hemostasis and Coagulation Analyzers market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Product

• Stains
• Analyzers
• Reagents
• Clinical Laboratory Analyzers
• Consumables
• Point of Care Analyzers

Technology

• Nephelometric
• Mechanical
• Photo-optical/Chromogenic/Immuno
• Optical
• Electrochemical

Test

• Prothrombin
• Fibrinogen
• D-Dimer
• APTT

End Use

• Diagnostic Centers
• Research Institutes
• Hospitals

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Hemostasis and Coagulation Analyzers market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2030.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Hemostasis and Coagulation Analyzers market?
• Which is the largest regional market for Hemostasis and Coagulation Analyzers market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Hemostasis and Coagulation Analyzers market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Hemostasis and Coagulation Analyzers market worldwide?