The blood coagulation analyzers market is anticipated to grow significantly over the forecast period.
Blood coagulation analyzers are essential medical devices used in clinical laboratories to assess the coagulation status of patients. These analyzers play a crucial role in diagnosing and monitoring various conditions related to blood clotting disorders, such as thrombosis, hemophilia, and von Willebrand disease.
By measuring parameters like prothrombin time (PT), activated partial thromboplastin time (aPTT), and international normalized ratio (INR), blood coagulation analyzers help healthcare professionals evaluate the clotting function of a patient's blood. They provide accurate and timely results, enabling healthcare providers to make informed decisions regarding treatment plans and interventions. With advancements in technology, modern blood coagulation analyzers offer improved efficiency, precision, and automation, enhancing the quality of patient care in clinical settings.
Market Drivers
The rising prevalence of cardiovascular diseases and blood disorders among the population is anticipated to serve as the primary driver for the growth of the blood coagulation analyzers market. Treating severe blood-related conditions can incur substantial healthcare expenses, especially with the progressive increase in costs. Additionally, the growing elderly population is expected to make a significant contribution to the blood coagulation analyzers market expansion. According to data from the American Cancer Society (CLL), around 21,250 new cases of chronic lymphocytic leukemia were reported in the United States in 2021.
Advancements in blood coagulation testing technology have simplified and enhanced the accuracy of the process. With increasing obesity rates, there is a growing need for comprehensive blood coagulation testing to monitor blood sugar levels. Consequently, the demand for blood coagulation analyzers is expected to experience significant growth due to these factors.
North America is anticipated to hold a significant market share
The North American region is poised to capture a substantial market share, driven by several key factors. These include the rising prevalence of chronic blood disorders, the growing adoption of laboratory automation, and the implementation of strategic initiatives by industry players. For example, according to a February 2020 report by the Centers for Disease Control and Prevention (CDC), the exact number of individuals in the United States affected by deep vein thrombosis is uncertain, but estimates suggest it could be as high as 900,000 (equivalent to 1 to 2 per 1,000 people). Moreover, the CDC estimates that between 60,000 to 100,000 Americans die from venous thromboembolism annually.
Given these statistics, there is an increasing need for early detection of blood abnormalities, driving the demand for coagulation analyzers in the region and facilitating market growth. Furthermore, various industry participants are implementing strategic initiatives to expand their market presence. For instance, in April 2020, the American company Haemonetics Corporation acquired Enicor, a developer of blood coagulation diagnostic systems.
Similarly, the American Clinical Laboratory Association (ACLA) launched the Stop Lab Cuts campaign in July 2022 to improve clinical laboratory infrastructure and enhance patient care delivery. These efforts are expected to accelerate market expansion by addressing infrastructure needs and increasing funding in the country. As a result, the market is anticipated to experience significant growth in the forecast period.
Market Developments
Market Segmentation