Blood coagulation testing is the procedure to diagnose several hemostatic diseases, which is identified by the patients’ inability to coagulate the blood owing to lack of blood clotting proteins. Blood coagulation testing is used for the diagnosis of bleeding disorders, thrombophilia, and hemophilia. The rapidly growing geriatric population is one of the major drives of the market since they are more susceptible to such diseases. The prevalence of hemostatic diseases has been increasing across the globe from the last few years. Increasing healthcare expenditure has provided a push to the growth of the market. However, the high cost of the products and lack of awareness may restrain the market growth.
Increasing prevalence of liver diseases, increasing investment in biotechnology and pharmaceutical industries for research & development, and availability of funds are expected to drive the growth of the market. Moreover, changing lifestyle, and rapidly developing technology is expected to fuel the market growth during the forecast period.
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The global blood coagulation testing market is projected to reach USD ~7.5 billion by 2023 at a CAGR of 6.5%.
Regional Analysis
The Americas dominate the global blood coagulation testing market owing to the presence of a huge patient population with liver cancer, high health care spending, and increasing government support for research & development.
Europe holds the second largest share of the global blood coagulation testing market as result of increasing focus of various government agencies on the treatment of rare diseases such as thrombophilia and hemophilia. Moreover, the growing public awareness about the cons of this disease is likely to boost the European market growth.
The Asia Pacific is the fastest growing blood coagulation testing market across the globe, owing to rapidly developing the economy, increasing healthcare awareness, and the government’s support to biotechnology and pharmaceutical industries projected to drive the market in China and India over the forecasted period.
The Middle East and Africa hold the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.
Segmentation
The global blood coagulation market is segmented on the basis of product, application, test type, and end user. On the basis of the product, the market is segmented into clinical laboratory, automated testing, and semi-automated testing. On the basis of the application, the market is segmented into congenital bleeding disorders, acquired bleeding disorders, Von Willebrand disease, and hemophilia. On the basis of the test type, the market is segmented into various testing kits and others. Furthermore, the testing kits are segmented into prothrombin time (PT), activated clotting time, D dimer, and fibrinogen (FIB). On the basis of the end user, the market is segmented into academic institutions, hospitals, and diagnostic laboratories.
Key Players
Some of the major players in the global blood coagulation market are F. Hoffmann-La Roche Ltd. (Europe), Alere Inc. (U.S.), Siemens Healthcare Private Limited (Europe), Accriva Diagnostics (U.S.A.), CoaguSense, Inc. (U.S.), HomoSonics LLC. (U.S.), iLine Microsystems. (Europe), Instrumentation Laboratory (U.S.), Sienco, Inc. (U.S.), SenGenix Inc. (U.S.), and Bio/Data Corporation (U.S.)
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