Point-Of-Care Coagulation Testing Devices Market Size 2023 Industry Share, Development Strategy, Global Trend, Geographical Statistics, Growth Status, Key Cost Structure and Future Investments Analysis Report 2032

Point-of-Care Coagulation Testing Devices Market Size And Forecast
Point-of-Care Coagulation Testing Devices Market size was valued at USD 1.85 Billion in 2021 and is projected to reach USD 3.41 Billion by 2030, growing at a CAGR of 7.05% from 2023 to 2032.

The major factors propelling the growth of the global point-of-care coagulation testing devices market are relative cost savings from expensive hospitalisation, numerous pandemic waves across the globe, rising cases of bleeding disorders, and technological advancements in the portable testing devices market. The market is comprehensively evaluated in the study on the global market for point-of-care coagulation testing devices. The report provides a thorough analysis of the market's major segments, trends, drivers, restraints, competitive environment, and other important elements.

Global Point-of-Care Coagulation Testing Devices Market Definition
Point-of-care testing refers to rapid, focused examination of body fluids at the bedside (POCT). Traditional laboratory procedures typically take a while to complete. The danger of a misplaced transfusion is also present. The tendency towards Point-of-Care Coagulation testing is growing as a result of these drawbacks of traditional laboratory testing methods. Point-of-Care Coagulation testing can yield findings in just a few minutes in addition to the risks.

Plasma is used in laboratory-based studies, but it can only give information up to the first stage of coagulation, until fibrin formation. Contrarily, viscoelastic POCCT devices provide data on all coagulation stages. The interplay between the cellular and plasma components of whole blood and the activity of the fibrinolytic system can be better understood thanks to the information provided. For effective hemostasis, it is crucial to have this knowledge.

The many benefits of POC coagulation testing significantly increase the worth for patients in terms of hemostatic management, both inside and outside of hospitals. Hospitals currently have more access to POC devices thanks to manufacturers in the point-of-care coagulation testing devices industry. It is because hospitals, which accounted for the largest income share among all end users in the market in 2018 and had a value of about US$ 500 million, are to blame. Additional advantages of POCCT include giving medical staff quick and useful information during emergency situations in ICUs, cardiac care units, and during operations.

Global Point-of-Care Coagulation Testing Devices Market Overview
The rising incidence of bleeding disorders cases worldwide is responsible for the rising demand for point-of-care coagulation testing devices, and subsequently for the growth of the entire market. As of 2014, it was estimated that 1 in 1000 individuals had a bleeding disorder. According to estimates, 400,000 individuals worldwide were affected by haemophilia in 2018, with haemophilia A and B present in 1 in 30000 and 5000 male births, respectively. Growth of the market is further fueled by the substantial benefits of Point-of-Care Coagulation devices over traditional lab testing. The Global Point-of-Care Coagulation Testing Devices Market has experienced an abrupt uptick in growth as a consequence of COVID-19. This growth can be ascribed to various medical organizations prescribing Thombroelastography (TEG) testing for those affected by COVID 19. This is done to prevent the formation of blood clots, which can give rise to further complications.

The ability to reduce hospitalisation costs for home treatment of illnesses like haemophilia when POCCT Devices are used in place of centralised laboratory testing is another development driver. Patients with haemophilia in the nation endure costs ranging from 300,000 to 500,000, which puts tremendous strain on the economy. Additionally, the main market players are developing technologically advanced products in an effort to increase the adoption of POCCT Devices in a homecare environment.

The high price of these POCCT Testing devices, which restricts their use to only the population that is fiscally sound, is one of the factors limiting the growth of the global POCCT market. For instance, a CoaguChek costs between 500 and 2000 USD based on its technical specialisation, whereas a central testing facility only costs between USD 3 and USD 31. Further casting doubt on its allure, studies have found that the test findings at central laboratories are more accurate than those obtained using POCCT devices. However, it is anticipated that the rising popularity of home care services and self-monitoring will maintain market expansion during the anticipated time frame.

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Market Segmentations:
Global Point-Of-Care Coagulation Testing Devices Market: Major Players
Danaher
Medtronic
Abbott
Helena Laboratories
Accriva Diagnostics
Hoffmann-La Roche Ltd.
Sysmex Corporation
Siemens Healthcare GmbH
Werfen

Global Point-Of-Care Coagulation Testing Devices Market: By Types
Prothrombin Time/International Normalized Ratio (PT-INR) Testing Devices
Bleeding Time Testing Devices
Fibrinogen Level Testing Devices
Others

Global Point-Of-Care Coagulation Testing Devices Market: By Applications
Hospitals
Clinics
Others

Global Point-Of-Care Coagulation Testing Devices Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Point-Of-Care Coagulation Testing Devices market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market of various perspectives through Porter's five forces analysis
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