Hemostasis Diagnostic Devices And Equipment Global Market Report 2024

The hemostasis diagnostic devices and equipment market size has grown rapidly in recent years. It will grow from $5.48 billion in 2023 to $6.18 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth observed in the historical period can be attributed to factors such as advancements in clinical diagnostics, an increase in surgical procedures, the need for monitoring anticoagulant therapy, and the management of conditions like hemophilia and bleeding disorders. These factors have contributed to the demand for hemostasis diagnostic devices.

The hemostasis diagnostic devices and equipment market size is expected to see rapid growth in the next few years. It will grow to $9.85 billion in 2028 at a compound annual growth rate (CAGR) of 12.3%. The anticipated growth in the forecast period can be linked to several factors, including the aging population, a higher incidence of cardiovascular and chronic diseases, the growing adoption of personalized medicine, and an increase in surgical procedures. Notable trends expected during this period encompass the rise of point-of-care testing, the integration of automation and robotics, ongoing efforts in biomarker discovery, and the expanding use of telemedicine and remote monitoring in the field of hemostasis diagnostics.

The increasing likelihood of older individuals being diagnosed with diseases is fueling the demand for surgeries in the treatment of cardiovascular diseases (CVD) with the use of hemostasis devices. As the elderly population faces a higher risk of disease, there is a growing number of surgical procedures for elderly patients. Hemostasis devices play a vital role in expediting the natural blood clotting process and monitoring anticoagulation, thereby enhancing surgical outcomes and patient comfort. The American Heart Association reports that Americans aged over 80 have a significantly elevated risk of developing cardiovascular disease (CVD), with around 83% of men and 87.1% of women expected to suffer from some form of CVD. Consequently, the widespread implementation of hemostasis devices aims to improve both patient comfort and surgical success rates.

The primary product categories within hemostasis diagnostic devices and equipment consist of analyzers, coagulation instruments, other hemostasis instruments, and reagents and kits. Hemostasis diagnostic analyzers are specifically designed tools used to forecast the causes of bleeding during surgery by detecting any underlying hemostatic abnormalities. These diagnostic devices and equipment come in various formats, including automated, semi-automated, and manual options, and they are commonly employed in hospitals, clinics, independent diagnostic laboratories, and other medical settings.

The hemostasis diagnostic devices and equipment market research report is one of a series of new reports that provides hemostasis diagnostic devices and equipment market statistics, including hemostasis diagnostic devices and equipment industry global market size, regional shares, competitors with a hemostasis diagnostic devices and equipment market share, detailed hemostasis diagnostic devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the hemostasis diagnostic devices and equipment industry. These hemostasis diagnostic devices and equipment market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The increasing number of surgical procedures is a driving force behind the growth of the hemostasis diagnostic devices and equipment market. Surgical procedures involve medical interventions that often require incisions or invasive techniques to access and treat various areas of the body. The utilization of hemostasis diagnostic devices in surgical procedures significantly enhances the management of blood clotting, reduces risks, and improves overall surgical efficiency, leading to better patient outcomes. For example, in October 2023, there was an 8.4% increase in cataract surgical procedures in the Czech Republic, totaling 142,670 procedures in 2022 compared to 131,612 in 2021, as reported by the Organization for Economic Co-operation and Development. This surge in surgical procedures is a key driver of growth in the hemostasis diagnostic devices and equipment market.

The use of hemostasis devices in hospitals or clinics is impeded by a lengthy approval process. To enter the commercial market, these devices must adhere to regulations outlined in the Code of Federal Regulations (Title 21). The approval process involves device identification, classification, and obtaining pre-market approval (PMA) or notice of completion of the prescription drug plan (PDP). This protracted and time-consuming approval process can discourage new entrants from participating in the market. For example, Cardiva Medical Inc. experienced a four-month processing period before receiving approval for the adoption of newer and more modern equipment.

The emergence of new and enhanced technology in the hemostasis diagnostic device and equipment market is also contributing to its growth. Innovative technologies such as collagen vascular hemostasis devices have been introduced to improve the quality and success rates of surgeries. Collagen, a primary structural protein found in skin and connective tissues, is now being used in the hemostasis diagnostic devices market. For patients undergoing femoral surgery, collagen-based closure devices have been implemented to address potential immobility issues. Research from the American Journal of Neuroradiology, which examined 698 Angio-Seal closures, revealed that the use of Angio-Seal, a collagen hemostasis device, reduced the average time to mobilization by nearly 15 minutes without major complications. This technology is proving to be beneficial in expediting the hemostasis process and enhancing patient mobilization.

In hemostasis diagnostic devices and equipment market, major companies are focusing on the development of innovative products such as automated hemostasis equipment. Automated hemostasis analyzers are specialized medical devices designed to streamline and simplify the assessment of a patient's blood coagulation and clotting abilities. These analyzers leverage advanced technology to perform a series of tests automatically, eliminating the need for manual intervention. For instance, in July 2022, HORIBA Medical launched the Yumizen G800 and G1550 hemostasis analyzers, designed for clinical laboratories with mid- to high workloads. These analyzers offer advanced features, including comprehensive testing capabilities, independent and integrated measurement channels, liquid reagents for various tests, and more. They facilitate continuous sample processing, pre-calibrated tests for ease of use, automated reflex and additional tests, and dedicated STAT sample positions for urgent cases.

In July 2021, Baxter International Inc. completed the acquisition of certain assets related to PerClot Polysaccharide Hemostatic System from CryoLife, Inc., strengthening Baxter's product portfolio and complementing its medical products. CryoLife, Inc. is a prominent global medical device company.

Major companies operating in the hemostasis diagnostic devices and equipment market include C. R. Bard Inc., Baxter International Inc., Pfizer Inc., Johnson & Johnson, Abbott Laboratories, Beckman Coulter Inc., Becton Dickinson and Company, Chrono-Log Corporation, CSL Behring LLC, F. Hoffmann-La Roche Ltd., Grifols S.A., HemCon Medical Technologies Inc., Integra Life Sciences Corporation, Medtronic PLC, Siemens AG, Thermo Fisher Scientific Inc., Trinity Biotech plc., Ethicon Inc., Boston Scientific Corporation, Olympus Corporation, Cook Group Inc., Halyard Health, Medline Industries Inc., ConMed Corporation, Moog Inc., Argon Medical Devices Inc., B. Braun Interventional Systems Inc., Bio-Rad Laboratories Inc., CareFusion Corporation, Danaher Corporation, DemeTECH Corporation, Diagnostica Stago SAS, Dolphin Sutures, EndoEvolution LLC, Haemonetics Corporation, Internacional Farmacéutica S.A. de C.V., Merit Medical Systems Inc., Quidelortho Corp, STAGO, Stryker Corporation

North America was the largest region in the global hemostasis diagnostic devices and equipment market in 2023. Asia-Pacific was the second-largest region in the hemostasis diagnostic devices and equipment market. The regions covered in the hemostasis diagnostic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the hemostasis diagnostic devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

Hemostasis diagnostic devices and equipment consist of sales of instruments such as analyzers, coagulation instruments, other hemostasis instruments, and reagents and kits that are used in hemostasis diagnostics. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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