May 22, 2024
Hemostasis, Coagulation Analyzer Market

Hemostasis/ Coagulation Analyzer Market  to Witness Growth Due to Rising Prevalence of Cardiovascular Diseases

The hemostasis, coagulation analyzers market is an integral component of diagnosing and monitoring numerous hematologic conditions and cardiovascular disorders. Hemostasis and coagulation analyzers help evaluate hemostasis and coagulation by performing a diagnostic and screening test to determine coagulation factor deficiencies and abnormalities in blood clotting.

The Global hemostasis, coagulation analyzers market is estimated to be valued at US$ 6.47 Bn  in 2024 and is expected to exhibit a CAGR of 5.8% over the forecast period 2024 to 2031.

Hemostasis and coagulation analyzers are specialized medical devices used to measure blood’s ability to clot. The coagulation or clotting process is essential to stop bleeding when a blood vessel gets damaged. Coagulation analyzers help in quantitative analysis of blood coagulation through screening and monitoring various blood coagulation-related clotting disorders. The instruments aid in diagnosing coagulopathies or assessing anticoagulant therapies. Hemostasis analyzers measure platelets’ ability to aggregate and form clots under shear stress conditions mimicking in vivo arterial blood flow.

Key Takeaways

Key players operating in the Hemostasis/ Coagulation Analyzer Market Growth are Horiba Medical, Siemens Healthineers AG, Agappe Diagnostics Ltd, NIHON KOHDEN CORPORATION, Sysmex Corporation, F. Hoffmann-La Roche Ltd, Stago Group, Maccura Biotechnology Co., Ltd., Thermo Fisher Scientific Inc., Haemonetics Corporation, Genrui Biotech Co., Ltd., BIOLABO S.A.S, Erba Mannheim, Sclavo Diagnostics International, and Helena Laboratories Corporation.

The hemostasis, coagulation analyzers market offers growth opportunities owing to product and technology advancements, an increase in demand for point-of-care testing devices and the growing prevalence of target diseases globally.

The global expansion of the hemostasis, coagulation analyzers market is fueled by rising diagnostic volumes across emerging countries of Asia Pacific, Latin America, the Middle East, and Africa on account of surge in cardiac disorders, increasing healthcare spending power and better accessibility to advanced medical devices.

Market Drivers

The key drivers contributing to the growth of the hemostasis, coagulation analyzers market include rising prevalence of cardiovascular diseases worldwide, growing cases of bleeding disorders, increasing number of surgical procedures, and new product launches and approvals. According to WHO, cardiovascular diseases are the leading cause of mortality globally and account for over 17 million deaths annually. Cardiovascular maladies predispose patients to hemostatic and coagulation abnormalities necessitating regular testing and monitoring, thereby driving the demand for hemostasis, coagulation analyzers.

PEST Analysis

Political: Regulations around product safety and testing accuracy in various regions can impact demand. Approval processes for new products affect market entry of competitors.

Economic: Changes in healthcare spending, reimbursement policies, and funding for research can influence sales numbers. The cost of developing advanced technologies impacts investment levels.

Social: Growing geriatric population increases susceptibility to blood disorders requiring testing and monitoring. Prevalence of lifestyle diseases like diabetes necessitates regular check ups.

Technological: Developments in miniaturization, robotics, AI, and data analysis expand the capabilities of diagnostic devices. Digital connectivity and automation enhance workflow efficiency and user experience.

The geographical region where the market is most concentrated in terms of value is North America. Rising healthcare costs and growing emphasis on preventive care drive demand.

Asia Pacific is the fastest growing regional market for hemostasis analyzers due to increasing healthcare investments, growing incidence of target diseases, and expansion of private insurance coverage in developing nations. An aging demographic and rising living standards support market growth.

1.  Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it