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The hemostasis diagnostics market size is forecast to increase by USD 979.3 million, at a CAGR of 7.08% between 2023 and 2028. Market growth depends on various factors, including the increasing prevalence of coagulation disorders, which drives demand for advanced medical solutions. The introduction of cost-effective and high-quality treatments is crucial amid a growing geriatric population prone to such health issues. These dynamics highlight the healthcare sector's focus on innovation to cater to aging demographics, ensuring improved patient outcomes and effective management of clotting disorders. As healthcare providers and researchers collaborate on developing accessible therapies, the market is poised to expand, meeting the rising demand for specialized care and addressing the complex needs associated with coagulation disorders in elderly populations.
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The market is primarily driven by the increasing prevalence of blood clotting disorder, such as Hemophilia A and Hemophilia B, coagulation disorders, platelet dysfunction, and Von Willebrand disease, among others. These disorders can lead to conditions like deep vein thrombosis and bleeding risk, necessitating regular coagulation monitoring. The market is witnessing significant growth due to the increasing demand for hemostatic therapies and diagnostic devices. Products like Laboratory Analyzers, D-Dimer Test, Fibrinogen Test, Prothrombin Time Test, Activated Clotting Time, and Platelet Aggregation Test are in high demand for diagnosing and monitoring coagulation disorders. Hospitals are the major end-users of these diagnostic tests due to the high prevalence of cardiovascular diseases and the need for anticoagulant drugs during surgeries. The market is also witnessing the adoption of automation in hemostasis diagnostics, which is increasing the efficiency and accuracy of tests. Coagulation proteins are also gaining popularity as they provide valuable insights into the coagulation process. The market is expected to grow at a steady pace in the coming years due to the increasing awareness of bleeding risks and the availability of advanced diagnostic tools.
Increasing prevalence of coagulation disorders is notably driving the market growth. The market is witnessing significant growth due to the increasing patient pool suffering from various coagulation disorders. These disorders include Von Willebrand disease, hemophilia, deep venous thrombosis (DVT), hypercoagulable states, and clotting factor deficiencies. For instance, hemophilia, a coagulation disorder that affects approximately 400 newborns annually in the US, necessitates continuous monitoring for medical interventions.
Moreover, nearly 900,000 people in the US are diagnosed with venous thromboembolism (VTE), also known as deep vein thrombosis/pulmonary embolism (DVT/PE), every year. Diagnostic devices that utilize automated analyzers and advanced lab automation techniques to measure coagulation proteins play a crucial role in the early detection and diagnosis of these conditions. Medical equipment manufacturers are continuously innovating to develop more accurate and efficient diagnostic tools to cater to the growing demand. Thus, such factors are driving the growth of the market during the forecast period.
Increased penetration of POCT devices in developed countries is the key trend in the market. The European reimbursement system's enhancement has significantly boosted the demand for Point-of-Care (POCT) hemostasis diagnostics. Spain, in particular, represents a lucrative market for diagnostic devices due to its advanced healthcare system's pursuit of superior technology and equipment. Ranked seventh globally by the World Health Organization (WHO), Spain's universal public healthcare system offers free healthcare services to all citizens, encompassing diagnostic and therapeutic procedures and preventive care. In the UK, the National Health Service (NHS) adheres to the universal healthcare coverage principle.
Further, citizens of the UK are entitled to utilize free healthcare services at the point of care, ensuring that ambulatory, in-patient, and outpatient care are all accessible without charge. The increasing adoption of automation techniques in medical equipment, such as automated blood coagulation analyzers, caters to the growing patient pool suffering from conditions like hemophilia and venous thromboembolism. These factors contribute to the expanding market for hemostasis diagnostics in Europe. Thus, such trends will shape the growth of the market during the forecast period.
High cost of fully-automated hemostasis equipment is the major challenge that affects the growth of the market. The hemostasis diagnostics market encompasses the development, production, and sale of diagnostic devices used to assess coagulation proteins and related disorders. Hemophilia, venous thromboembolism, and other bleeding and clotting disorders are among the conditions diagnosed using these devices. Automated analyzers, a common type of diagnostic equipment, are increasingly being adopted due to lab automation techniques.
However, the high cost of developing and commercializing these medical devices poses a challenge. Vendors invest significantly in research and development to introduce innovative products and gain market share. The rapid advancement of technology in this field can lead to the obsolescence of existing products and frequent elimination from the market. Healthcare departments and medical equipment suppliers must carefully evaluate the cost-effectiveness and technological superiority of hemostasis diagnostics before making a purchase. Hence, the above factors will impede the growth of the market during the forecast period
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Abbott Laboratories - The company offers hemostasis diagnostics products under the brand name of Alinity.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The hospitals and clinics segment is estimated to witness significant growth during the forecast period. The global hemostasis diagnostics market is significantly driven by the increasing prevalence of blood clotting disorders, such as deep vein thrombosis, and cardiovascular diseases, including hemophilia A and B. Coagulation disorders, including platelet dysfunction and Von Willebrand disease, as well as vitamin K deficiency, are also key factors fueling market growth. Surgical procedures, dialysis, and anticoagulant medications further contribute to the demand for hemostasis diagnostics. Products used in hemostasis diagnostics include laboratory analyzers, such as D-dimer tests, fibrinogen tests, prothrombin time tests, activated clotting time, platelet aggregation tests, and platelet function analyzers.
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The hospitals and clinics was the largest and was valued at USD 1.36 billion in 2018. Automation and point-of-care (POC) processes and devices, which can be used by minimally skilled professionals, are driving POC development initiatives. Hospitals and diagnostic centers play a crucial role in blood clotting diagnosis, and the market is expected to grow significantly due to the need for preventive care management and coagulation monitoring. Hemostatic therapies and anticoagulant drugs are also major market drivers, as they pose a bleeding risk that requires constant monitoring.
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North America is estimated to contribute 45% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market encompasses a range of technologies and tests used for the diagnosis of blood clotting disorders and coagulation defects. These disorders include hemophilia A and B, deep vein thrombosis, platelet dysfunction, Von Willebrand disease, and vitamin K deficiency. Hemostasis diagnostics are essential for the management of cardiovascular diseases, surgical procedures, dialysis, and anticoagulant medications. Products in this market include laboratory analyzers such as D-dimer tests, fibrinogen tests, prothrombin time tests, activated clotting time, platelet aggregation tests, and platelet function analyzers.
In addition, automation and advanced technologies like chromogenic assays, flow cytometry, and coagulation monitoring are driving the growth of the market. Acquired bleeding disorders and hereditary bleeding disorders are significant applications for hemostasis diagnostics. Hospitals and diagnostic centers are the major end-users, with minimally skilled professionals increasingly utilizing Point of Care Testing Systems and POC devices for blood clotting diagnosis. POC development initiatives and the need for preventive care management are also contributing to market growth. Anticoagulant drugs and hemostatic therapies are key areas of focus for market participants.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
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The market is a significant sector in the healthcare industry, focusing on the diagnosis and management of various blood clotting disorders and coagulation disorders. The market caters to the needs of patients suffering from conditions like Cardiovascular diseases, Hemophilia A, Hemophilia B, Deep vein thrombosis, Von Willebrand disease, Vitamin K deficiency, and other hereditary and acquired bleeding disorders. Automation plays a crucial role in the market, with advanced technologies like platelet function analyzers, chromogenic assays, flow cytometry, and coagulation monitoring becoming increasingly popular. These technologies enable minimally skilled professionals to perform diagnostic tests quickly and accurately, contributing to the growth of the market. Surgical procedures, dialysis, and anticoagulant medications are significant applications driving the demand for hemostasis diagnostics.
Additionally, the market is segmented into product laboratory analyzers and point-of-care (POC) devices. POC processes and POC development initiatives are gaining traction due to their convenience and cost-effectiveness. Key diagnostic tests in the market include D dimer test, fibrinogen test, prothrombin time test, activated clotting time, and platelet aggregation test. Hospitals and diagnostic centers are the primary end-users of these diagnostic tests, with a growing emphasis on preventive care management and hemostatic therapies to reduce bleeding risk. In conclusion, the market is expected to witness significant growth due to the increasing prevalence of blood clotting disorders, coagulation disorders, and the need for accurate and rapid diagnostic tests. The market is driven by technological advancements, growing demand for POC devices, and the increasing focus on preventive care management.
Market Scope |
|
Report Coverage |
Details |
Page number |
141 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.08% |
Market growth 2024-2028 |
USD 979.3 million |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
6.49 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 45% |
Key countries |
US, Germany, UK, China, and Canada |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Abbott Laboratories, Beckman Coulter Inc., Danaher Corp., F. Hoffmann La Roche Ltd., Grifols SA, Helena Laboratories Corp., Hitachi Ltd., HORIBA Ltd., Medtronic Plc, Nihon Kohden Corp., Siemens AG, Sysmex Corp., and Thermo Fisher Scientific Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the market forecast period |
Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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