Global Hemostasis/Coagulation Analyzers Market to Reach USD 9.5 Billion by 2026
The global hemostasis/coagulation analyzers market was valued at USD 3.65 billion in 2017 and is expected to grow at a CAGR of 9.9% over the period 2018 to 2026 to reach USD 9.55 billion by 2026, driven mainly by the growing incidence of blood disorders. Technological innovations and miniaturization has led to the commercialization of several novel devices that have quick turnaround time and can also be used in point of care (POC) settings. Additionally, growing awareness and demand for technologically advanced medical treatments, government support and increasing adoption of laboratory automation are driving the demand for novel coagulation analyzers.
These are the latest findings of Research and Markets, (Dublin, Ireland), a global market research company.
Based on test types, the routine coagulation tests segment holds the largest share of the global hemostasis/coagulation analyzers market, due to a large number of these tests being performed for almost all surgical procedures and treatments. However, the diagnostic hemostasis assays segment is expected to register a faster growth rate due to the increasing adoption of specific tests such as VWF assays and thrombophilia testing, led by the growing awareness and prevalence of coagulation disorders. Based on product types, the devices (analyzers) segment holds a larger revenue share of the global hemostasis/coagulation analyzers market, driven by higher cost and continuously increasing purchase of these systems in the laboratory as well as POC settings. Based on end users, the diagnostic laboratories segment dominates the global hemostasis/coagulation analyzers market, led by greater preference for analyzing samples in specialized laboratories. Hemostasis analyzers have a high uptake in research institutions on account of the surge in the number of clinical trials being undertaken to commercialize novel drugs for the treatment of coagulation disorders.
Geographically, North America dominates the global hemostasis/coagulation analyzers market in terms of revenue, due to the presence of developed healthcare infrastructure, various R&D initiatives, and a high number of organ transplant and general surgeries performed in the region. However, the hemostasis/coagulation analyzers market in Asia Pacific is expected to witness the fastest growth, driven by growing awareness about hemostasis, increasing prevalence of diseases, both genetic and lifestyle linked, and rising healthcare expenditure due to the rapid evolution of healthcare infrastructure in the untapped markets of the region.
The hemostasis industry is characterized by the presence of several multinational players who have intensified their R&D efforts for the development of technologically advanced and more accurate analyzers. The major players are also undertaking penetration measures to enter the untapped markets in the Asia Pacific and Middle East & Africa.
