The Coagulation Testing market was valued at US$2,972.150 million in 2022 and is expected to increase at a CAGR of 3.84% over the forecast period to reach a total market size of US$3,868.871 million by 2029.
Coagulation tests are conducted to test the hemostasis system. Generally, this test is performed with a coagulometer, which measures and evaluates the rate at which clots form or blood coagulates. A blood clot in a blood vessel can lead to a heart attack, thrombosis, or embolism. By performing these tests, one can avoid these unfavourable outcomes.
A growing prevalence of blood disorders and cardiovascular conditions, an increase in the geriatric population, surging demand for point-of-care (POC) coagulation testing, and technological advancements such as faster and easier-to-use devices with advanced sensors have been contributing to the market growth.
The introduction of new coagulation analyzer tests and rapid advancements in technology have led to an increase in the quality and efficiency of hemostasis laboratories over the past decade. To prevent bleeding and excessive coagulation, the liver plays an essential role in hemostasis. The CN-6000 and CN-3000 are fully automated, next-generation blood coagulation analyzers recently launched by Sysmex in the EMEA region. As part of the CN-6000 and CN-3000, which were recently introduced, four new capabilities have been built to cater to the increasingly diverse needs of high-volume hemostasis testing.
Market Drivers:
There is an increase in the population of the world which will correlate with increasing healthcare requirements as there will be more incidences of diseases and medical conditions including coagulation disorders, according to the United Nations (UN) data on World Population Prospects, the world's population reached 8 billion in November 2022, marking a significant milestone in human development, it expected to reach 9 billion by 2037 while the population is expected to increase by nearly 2 billion in the next 30 years, reaching 9.7 billion in 2050.
China and India remain the two most populous countries, with each representing nearly 18 percent of the world's population with more than 1 billion individuals. In April 2023, India's population was expected to extend to 1,425,775,850 people, surpassing that of mainland China.
As the liver is a central player in the clotting process, thus, acute and chronic liver illness regularly leads to coagulation disorders due to a few variables, like a decreased amalgamation of clotting and inhibitor factors, a failure to eliminate activated variables, and defects in both amount and quality of platelets. As per American Liver Foundation information from September 2023, more than a hundred million U.S. adult individuals suffer from liver disease, with 4.5 million analyzed for it. People with untreated liver disease can lead to liver failure and cancer, with 80-100 million adult people possibly suffering from fatty liver disease and ignorant about it themselves.
Moreover, according to the British Liver Trust, over 10,000 deaths due to liver disease happen every year in the UK, with a four-fold increment over the past fifty years. In 2022, England had about 9,770 deaths, Northern Ireland had 369, Scotland had 1,237, and Ridges had 701 deaths in total while the UK-wide death number was 12,077. Liver disease is connected to deprivation as well as inequality, with untimely passings being four times higher in deprived regions compared to affluent areas in both Scotland and England. In light of the dominant rate of liver disease globally, the coagulation testing industry will expand at an increasing rate over the estimated period.
The increasing commerce of blood coagulation analyzers has driven a surge in the advancement of cutting-edge therapeutic facilities, labs, treatment centres, and research organizations. All through the forecasted period, these variables are anticipated to impel market extension. Innovative technological headways in blood coagulation testing have made the method simpler, more detailed, and precise.
Rising obesity rates necessitate extensive testing for blood sugar levels, leading to a massive growth in the demand for blood coagulation analyzers. The increasing population of cardiovascular illnesses and blood disorders is driving market growth, as severe blood-related illnesses can be costly to treat. The geriatric population's growth is also contributing to the market size.
Market Restraints:
Having a fully automated coagulation system comes at a high cost. Staff members other than haematologists must obtain training and be competent. It is more difficult to establish rigorous quality assurance standards outside the laboratory. Stringent regulations governing coagulation testing devices, the high cost of fully automatic hemostasis equipment, and the concern over the potential side effects of blood testing are inhibiting the growth of the global market. In addition, the slow adoption of advanced hemostasis instruments and the lack of awareness regarding innovative and advanced applications of coagulation test devices are also hampering the market growth, particularly in developing countries
Key Developments:
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Market Size Value in 2022 | US$2,972.150 million |
| Market Size Value in 2029 | US$3,868.871 million |
| Growth Rate | CAGR of 3.84% from 2022 to 2029 |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2023 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segments Covered |
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| Companies Covered |
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| Regions Covered | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| Customization Scope | Free report customization with purchase |
Segmentation:
Global Coagulation Testing Market is segmented and analyzed as below: