Point-of-Care (POC) Coagulation Testing Devices Market Research Insights Shared in Detailed Report

Global Point-of-Care Coagulation Testing Devices Market Introduction

Coagulation, or clotting, is the process of conversion of liquid blood into a gel-like clot to stop bleeding. The capability of the body cells to prevent blood loss after a vascular injury by forming a blood clot is vital to sustaining health. A number of coagulation or clotting factors are involved that lead to a physiological procedure called hemostasis. Hemostasis is the mechanism of clotting that involves activation, adhesion, and aggregation of platelets mediated by several clotting factors, eventually leading to the repair of the injured tissue. The absence of any of these factors could lead to a rare, but serious blood clotting disease and excessive bleeding. Point-of-care testing (POCT) can be defined as a fast, specific medical diagnostic testing of bodily fluids at the bedside. It is often termed as decentralized diagnostic testing.

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Rise in prevalence of blood clotting disorders, increase in POCT coagulation in developed countries, and surge in usage of anticoagulant therapy are the factors driving the global POC coagulation testing devices market. Furthermore, increase in prevalence of cardiovascular diseases & cancer, constant product & technology innovations, and funding by the government are propelling the global market. However, lack of awareness in developing countries and regulatory challenges are projected to restrain the global point-of-care coagulation testing devices market. A number of studies have shown that 60% to 70% of deep vein thrombosis in developing countries is clinically undiagnosed. Nevertheless, players in the point-of-care coagulation devices market are establishing a stronger foothold in developed and emerging markets.

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COVID-19 Impact on Point-of-Care Coagulation Testing Devices Market

The COVID-19 pandemic has had a negative impact on the global point-of-care coagulation testing devices market. Several affected countries deferred non-essential surgeries and patient visits during the breakout year of the pandemic. This led to a substantial decline in overall non-emergency surgery and treatments, thereby limiting the usage of point-of-care coagulation testing instruments during preoperative or post-operative conditions. The pandemic caused a decline in key players' revenue. However, demand for vital function monitoring viscoelastic devices, including venous thromboembolism (VTE) and Thromboelastography (TEG), has increased during the pandemic, as these devices help detect pulmonary embolism (PE) and venous thromboembolism (VTE) among critically ill COVID-19 patients. According to the Intensive Care Medicine Journal, in May 2020, the incidence of prothrombotic conditions in patients with severe symptoms of COVID-19 infection increased significantly. This resulted in a rise in number of coagulation tests such as prothrombin time (PT), D-dimer, TEG, and activated partial thromboplastin time (aPTT).

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Increase in Adoption of Consumables and Accessories to Drive Point-of-Care Coagulation Testing Devices Market

In terms of product, the consumables & accessories segment accounted for major share of the global point-of-care coagulation testing devices market in 2021. Increase in usage of kits & reagents, which provide results in less time; growth in usage of POC testing strips that provide reliable results; rise in demand for quicker results; and surge in POC testing are the major factors augmenting the consumables & accessories segment. Rapid coagulation testing methods are increasingly adopted by patients. Moreover, adoption of POC coagulation analyzers is projected to rise in the near future, which is likely to drive the segment. The usage of disposable consumables is increasing due to the rise in awareness about the prevention of blood-borne diseases, such as hepatitis B and HIV, among the people. Thus, assurance of patient safety due to usage of disposable consumables and reliable results is propelling the segment.

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Growth in Product Launches for Point-of-Care Testing Propelling Demand for PT/INR Testing

The PT/INR segment held the largest share of the market in terms of revenue in 2021. The segment is anticipated to dominate the global market owing to the growing trend of point-of-care testing and self-monitoring with PT tests. Moreover, high reliability of the coagulation status on the PT test is one of the factors likely to drive the segment during the forecast period. Key players are focused on the launch of technologically advanced products. For instance, Roche developed a Bluetooth-enabled PT/INR testing CoaguChek device that helps patients and health care providers to check coagulation status and help in remote care. Similarly, Siemens Healthineers launched the FDA-approved POC PT/INR device called Xprecia Stride Coagulation Analyzer. This device has demonstrated PT/INR testing performance equivalency with the Roche CoaguChek XS POC system.

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