Coagulation Analyzer Market is expected to grow from US$ 3,972.38 million in 2021 to US$ 5,910.57 million by 2028; it is estimated to grow at a CAGR of 5.9% during 2022–2028. The report highlights the trends prevailing in the market, along with market drivers and deterrents. Factors driving the market growth are the increasing prevalence of blood disorders and rising incidence of cardiovascular diseases. However, high costs and stringent regulations associated with coagulation analyzers hinder the growth of the market.
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Cardiovascular diseases (CVDs) cause millions of deaths every year across the world. According to the 2022 Heart Disease & Stroke Statistical Update Fact Sheet, Global Burden of Disease, an estimated 119.1 million deaths are recorded due to CVDs in 2020. It also stated that the global prevalence of stroke and ischemic stroke was 89.1 million and 68.2 million, respectively, in 2020. The major causes of CVDs are hypertension, obesity, and diabetes. Higher instances of CVDs are observed in North America. As per the National Center for Chronic Disease Prevention and Health Promotion, Division for Heart Disease and Stroke Prevention, ~697,000 people succumbed to heart disease in the US, i.e., 1 out of every 5 deaths.
According to the American Heart Association, over 130 million or 45.1% Americans are likely to acquire some form of cardiovascular disease by 2035. CVDs majorly cause mortality and morbidity in Europe, accounting for 45% of deaths in the region and 37% in the European Union (EU). High blood pressure is the major risk factor causing CVDs in low- and middle-income countries, resulting in more than 75% of death cases. According to the Global Burden of Disease Study 2019, CVDs were the leading causes of death in Asia in 2019, causing 10.8 million or 35% of the total fatalities.
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The COVID-19 pandemic has adversely affected three main aspects of the global economy—production, supply chain, and firms and financial markets. Japan, China, South Korea, India, and Australia were among the most affected countries due to the high number of COVID-19 cases and the associated deaths. During the peak of the outbreak, medical device manufacturers and suppliers shifted their focus from regular coagulation analysers to developing and supplying COVID-19 essentials and medical devices used for respiratory issues. Thus, COVID-19 outbreak negatively impacted the coagulation analysers market.
According to the American College of Cardiology, ~1.2 million angioplasties are performed each year. Similarly, there are an increasing cases of coronary artery bypass grafting (CABG) due to increasing coronary artery disease cases, myocardial infections, sedentary lifestyle, and hypertension. Approximately 400,000 CABG surgeries are performed each year globally. In the US alone, ~ 200,000 CABG surgeries are performed. A coagulation test can help prevent blood clots that can cause heart attack. The coagulation analyzer is used during coronary artery bypass surgery and angioplasty to monitor information about blood clotting status. Thus, the increasing incidence of cardiovascular disease is bolstering the growth of the coagulation analyzers market.
Top Prominent Players Synopsis- Abbott Laboratories; Danaher Corp; Siemens Healthcare GmbH; Thermo Fisher Scientific Inc; Sysmex Corporation; Horiba Ltd.; Nihon Kohden Corp; F. Hoffmann-La Roche Ltd; Maccura Biotechnology Co Ltd; Bio Group Medical System SRL; and Shenzhen Mindray Bio-Medical Electronics Co., Ltd are a few prominent players operating in the coagulation analyzer market.
The report segments the global coagulation analyzer market as follows:
Based on product, the coagulation analyzer market is bifurcated into clinical laboratory analysers and point-of-care testing analysers. Based on test, the market is segmented into prothrombin time testing, fibrinogen testing, activated clotting time testing, activated partial thromboplastin time testing, D-dimer testing, platelet function tests, anti-factor XA tests, heparin and protamine dose response tests for ACT, and others.
Based on technology, the coagulation analyser market is segmented into optical technology, mechanical technology, electrochemical technology, and other technologies. Based on end users, the market is segmented into hospitals, clinical laboratories, point-of-care testing, and others.
By geography, the coagulation analyser market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).
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