Global Coagulation Testing Market to Reach $8.8 Billion by 2031: Allied Market Research

Allied Market Research
Allied Market Research

Increase in the prevalence of chronic blood illnesses, rise in need for specialized haematology and coagulation laboratories, and growth in the popularity of smartphone-based blood coagulation test drive the growth of the global coagulation testing market. High demand for coagulation-related parameters such as D-dimer in various countries during the pandemic had a positive impact on the growth of the global coagulation testing market.

Portland, OR, Nov. 28, 2022 (GLOBE NEWSWIRE) -- A new business intelligence report released by Allied Market Research, the global Coagulation Testing Market generated $3.1 billion in 2021, and is projected to reach $8.8 billion by 2031, growing at a CAGR of 11.5% from 2022 to 2031. The report offers a detailed analysis of the top winning strategies, evolving market trends, market size and estimations, value chain, key investment pockets, drivers & opportunities, competitive landscape, and regional landscape. The report is a useful source of information for new entrants, shareholders, frontrunners, and shareholders in introducing necessary strategies for the future and taking essential steps to significantly strengthen and heighten their position in the market.

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Report coverage & details:

Report Coverage

Details

Forecast Period

2022­–2031

Base Year

2021

Market Size in 2021

$3.1 billion

Market Size in 2031

$8.8 billion

CAGR

11.5%

No. of Pages in Report

280

Segments Covered

Product, application, end-user, and region

Drivers

Increase in the standard of living

Increase in the prevalence of chronic blood illnesses

Opportunities

Rise in need for specialized haematology and coagulation laboratories

Growth in the popularity of smartphone-based blood coagulation test

Restrains

Shortage of competent workers and increased device costs


COVID-19 Scenario:

  • The COVID-19 pandemic had a positive impact on the growth of the global coagulation testing market, owing to the significant surge in demand for coagulation-related parameters such as D-dimer.

  • Increase in D-dimer was the most significant change in coagulation parameters such as prothrombin time. According to studies, patients with higher D-dimer had a higher risk of dying. In this time of economic crisis, this factor is expected to fuel market expansion as it is a primary driver of the demand for coagulation testing techniques for early diagnosis.

  • Besides, researchers were responsible for monitoring several coagulation tests such as prothrombin time (PT), platelet count, fibrinogen, and D-dimer methods to find the sensitivity of coagulation testing in hospitalized patients due to COVID-19.

  • Thus, the market surged exponentially during the pandemic.

The report offers detailed segmentation of the global coagulation testing market based on product, application, end-user, and region. The report provides a comprehensive analysis of every segment and their respective sub-segment with the help of graphical and tabular representation. This analysis can essentially help market players, investors, and new entrants in determining and devising strategies based on fastest growing segments and highest revenue generation that is mentioned in the report.

Based on product, the consumables segment held the dominating market share in 2021, holding more than half of the global coagulation testing market, and is expected to maintain its leadership status during the forecast period. In addition, the same segment is expected to cite the fastest CAGR of 11.8% during the forecast period. The report also analyses the instruments segment.

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Based on application, the prothrombin time segment held the dominating market share in 2021, holding more than one-third of the global coagulation testing market, and is expected to maintain its leadership status during the forecast period. The activated clotting time segment, on the other hand, is expected to cite the fastest CAGR of 12.6% during the forecast period.

Based on end-user, the hospitals segment held the dominating market share in 2021, holding around half of the global coagulation testing market, and is expected to maintain its leadership status during the forecast period. The report also analyses other segments such as clinical laboratories, point-of-care testing.

Based on region, the market across Europe held the dominating market share in 2021, holding nearly one-third of the global coagulation testing market, and is expected to maintain its leadership status during the forecast period. The LAMEA region, on the other hand, is expected to cite the fastest CAGR of 12.9% during the forecast period.

The key players analyzed in the global coagulation testing market report include Alere Inc., Nihon Kohden Corporation, F. Hoffmann-La Roche Ltd., Sysmex Corporation, Thermo Fisher Scientific Inc., Diagnostica Stago Sas, Helena Laboratories, Abbott Laboratories, Medtronic plc, Micropoint Biosciences.

The report analyzes these key players in the global coagulation testing market. These market players have made effective use of strategies such as joint ventures, collaborations, expansion, new product launches, partnerships, and others to maximize their foothold and prowess in the industry. The report is helpful in analysing recent developments, product portfolio, business performance and operating segments by prominent players in the market.


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