Thromboelastography is a viscoelastic hemostatic assay which helps in measuring the visco-elastic properties of blood clot formation. This is mostly conducted during surgery and anesthesiology. The test can measure coagulation factor function. Prothrombin time and partial thromboplastin time are some of the other tests for measuring blood coagulation. Moreover, thromboelastography provides us with information associated with the components of hemostasis like platelet function and coagulation.
Global Thromboelastography Market is forecast to be valued at US$ 531.8 million in 2020 and is estimated to exhibit a CAGR of 7.2% during the forecast period.
Impact of Covid-19:
Thromboelastography assay is conducted for predicting the efficiency of the clot during several surgical procedures like cardio-pulmonary bypass surgery, liver transplantation and many other applications like obstetrics, trauma and hemorrhage. Many consumables like test kits, thromboelastography assay reagents and disposables like cup, pin and various devices like TEG systems, analyzer, etc. are required during the procedure.
COVID-19 was first reported in December 2019, and it was then transmitted to more than 100 nations around the world. The World Health Organization declared this as a public health emergency. The WHO’s report also states that COVID-19 has infected almost 9 million individuals until June 2020.
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The pandemic directly affected the economy by affecting the production and demand of various products. The pandemic created disturbances in the distribution channel, and also had a financial impact on various firms and financial markets. Several nations like Egypt, UAE, Saudi Arabia and many others are facing challenges regarding transportation of drugs due to lockdowns imposed.
Moreover, key players active in the global thromboelastography market are facing huge challenges due to the pandemic. Irregularities in the supply of raw materials for manufacturing disposables and TEG assay reagents due to disruptions in transportation facilities and along with this distributors distributing these products are also experiencing irregular demands from retailers for products.
Thus, the high impact of COVID-19 is estimated to hamper growth of the global thromboelastography market during the forecast period.
Rising number of organ transplants carried out is estimated to boost growth of the global thromboelastography market during the forecast period. The Global Observatory on Donation and Transplantation, revealed that almost 1,350 and 609 organ transplants were conducted in Saudi Arabia and Israel and in 2018 respectively. The Canadian Organ Replacement Register stated that almost 2,782 organ transplant procedures were conducted in Canada in 2018, and almost 4,351 individuals were kept on a waiting list for carrying out an organ transplant.
Furthermore, rising incidences of hemostasis disorders are estimated to fuel growth of the global thromboelastography market over the forecast period. Statistics by the World Federation of Hemophilia stated that almost 158,225 individuals were suffering from hemophilia A in 2016 globally.
Key players active in the market are focusing on the adoption of several inorganic growth strategies like agreements and partnerships for the expansion of their product portfolio in the market. For instance, Haemonetics Corporation declared the acquisition of intellectual property rights of TEG 6s Hemostasis Analyzer System in January 2020. The main aim of this acquisition is to strengthen the product offerings and the position of Haemonetics in hospital laboratories business and hospitals.
- The global thromboelastography market is estimated to exhibit a CAGR of 7.2% due the forecast period, due to rising product launches and approvals, and increasing promotional activities by key players in the market. For instance, Diagnostica Stago launched the STA Workcell Max in April 2019, at the American Association of Clinical Chemistry Laboratory Expo which was held in Anaheim, California. STA Workcell Max is a processing platform that has been designed for meeting the rigorous requirements of an efficient hemostasis testing.
- Cardio-pulmonary bypass surgery segment, among application in the global thromboelastography market is estimated to witness growth over the forecast period, due to rising CABG surgeries. The 2019 summary report of the National Adult Cardiac Surgery Audit, stated that during 2017-18 almost 32,295 cardiac surgeries were conducted in the U.K. and out of these almost 14,527 procedures were CABG operations.
- Hospitals & clinics segment, among end user in the global thromboelastography market is estimated to witness growth over t eh forecast period, due to rising number of transplants conducted in hospitals. For instance, the Health Resources and Services Administration, in 2019, in the U.S. almost 39,718 transplants were conducted and almost 8,896 were liver transplants among these. The same source also stated that almost 80 individuals receive organs every day in the United States of America.
Key Players active in the global thromboelastography market are Life Diagnostica, Haemonetics Corporation, Diagnostica Stago, Instrumentation Laboratory, Medirox AB and Framar Hemologix srl.
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Reasons to buy this Thromboelastography Market Report
☑ It attempts an analysis of the competing scenario.
☑ The current and exceptional product revenue market.
☑ An in-depth data on the regional investigation and competitive landscape structure.
☑ It benefits in creating an awareness of the important key product segments.
☑ The marketing strategies, opportunities, and development factors are explained.
☑ Thromboelastography market size estimation and recent advancements in the industry are explained.
The Study Objectives are:
✔ A comprehensive insight into key players operating in the Thromboelastography Market and their corresponding data.
✔ It includes product portfolio, annual revenue, expenditure on research and development, geographical presence, key developments in recent years, and growth strategies.
✔ Regional analysis, which includes insight into the dominant market and corresponding market share.
✔ It also includes various socio-economic factors affecting the evolution of the market in the region.
✔ The report offers a comprehensive insight into different individuals from value chains such as raw materials suppliers, distributors, and stockholders.
Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Thromboelastography Market Size Analysis from 2022 to 2028
11.6 COVID-19 Outbreak: Thromboelastography Industry Impact
Chapter 2 Global Thromboelastography Competition by Types, Applications, and Top Regions and Countries
2.1 Global Thromboelastography (Volume and Value) by Type
2.3 Global Thromboelastography (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global Thromboelastography Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Thromboelastography Market Analysis
Chapter 6 East Asia Thromboelastography Market Analysis
Chapter 7 Europe Thromboelastography Market Analysis
Chapter 8 South Asia Thromboelastography Market Analysis
Chapter 9 Southeast Asia Thromboelastography Market Analysis
Chapter 10 Middle East Thromboelastography Market Analysis
Chapter 11 Africa Thromboelastography Market Analysis
Chapter 12 Oceania Thromboelastography Market Analysis
Chapter 13 South America Thromboelastography Market Analysis
Chapter 14 Company Profiles and Key Figures in Thromboelastography Business
Chapter 15 Global Thromboelastography Market Forecast (2022-2028)
Chapter 16 Conclusions
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