Point-of-Care (POC) Coagulation Testing Market Trends, Growth, Overview, Share Analysis 2024 To 2033

The point-of-care (POC) coagulation testing market size has grown strongly in recent years. It will grow from $1.12 billion in 2023 to $1.18 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to rise in patient demand, growing trend of point-of-care testing, high reliability of coagulation status on pt test, automation and integration with electronic health records (EHRs), rising incidence of cardiovascular diseases and blood disorders.

The point-of-care (POC) coagulation testing market size is expected to see steady growth in the next few years. It will grow to $1.42 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to expanding applications in healthcare, rising demand in homecare settings, increased prevalence of chronic blood disorders, patient demand for rapid and accurate testing, rise in point-of-care testing. Major trends in the forecast period include technological advancements, high demand in developed countries, expanding applications in healthcare, COVID-19 impact, multiplexing POC diagnostics.

Market Overview -
Point-of-care (POC) coagulation testing refers to diagnostic tests that assess blood clotting function performed at the patient's bedside or near the site of care, rather than in a centralized laboratory. It is used to provide real-time or near-real-time results (within minutes), significantly faster than traditional lab tests, that allow healthcare professionals to make quicker treatment decisions and optimize anticoagulation therapy.

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Cardiovascular Disease Rates Fuel Expansion Of POC Coagulation Testing Market
The rising incidence of cardiovascular diseases is expected to propel the growth of the point-of-care (POC) coagulation testing market going forward.

Cardiovascular diseases (CVDs) refer to a group of disorders of the heart and blood vessels, including conditions such as coronary heart disease, cerebrovascular disease, and peripheral arterial disease. Point-of-care (POC) coagulation testing is helpful in the treatment of cardiovascular diseases (CVDs) as it provides real-time information on coagulation status, enabling timely decision-making on coagulation interventions and reducing the risk of bleeding complications after cardiac surgery. For instance, in May 2023, according to the Centers for Disease Control and Prevention, a US-based government agency, in the United States, heart disease claimed the lives of about 695,000 people in 2021, accounting for 1 in 5 fatalities. Further, coronary heart disease is the most common type of heart disease, killing 375,476 people in 2021. Therefore, the rising incidence of cardiovascular diseases is driving the growth of the point-of-care (POC) coagulation testing market.

Competitive Landscape -
Major companies operating in the point-of-care (poc) coagulation testing market report are AT&T Corporation, Siemens Healthcare GmbH, Thermo Fisher Scientific Inc., Abbott Laboratories, F. Hoffmann-La Roche Ltd., Danaher Corporation, Medtronic Plc, Koninklijke Philips N.V., Sysmex Corporation, IDEXX Laboratories Inc., Quidel Corporation, Bio-Rad Laboratories Inc., Teleflex Incorporated, Werfen SA, Nihon Kohden Corporation, Horiba Ltd., Hycel, Nova Biomedical Corporation, Haemonetics Corporation, Maccura Biotechnology Co. Ltd., Helena Laboratories Corporation, Abaxis Inc., ARKRAY Inc., Radiometer Medical ApS, HemoSonics LLC, iLine Microsystems SL, Corgenix Medical Corporation, Quotient Limited, Micropoint Bioscience Inc., Beijing Succeeder Technology Inc., EKF Diagnostics Holdings plc

Increasing Focus On Innovating With Connected POC Coagulation Solutions In A Competitive Market

Major companies operating in the point-of-care (POC) coagulation testing market are focused on strategic collaborations to gain a competitive edge in the market. Strategic collaboration is a formal agreement between two or more parties to work together toward achieving specific, predetermined goals that are mutually beneficial. For instance, in October 2021, Trivitron Healthcare, an Indian-based medical devices company, collaborated with Diagon Ltd., a US-based manufacturer of IVD products, and Vanguard Diagnostics, an Indian-based manufacturer of diagnostic products, to launch Coagulation Analyzer products. It provides accurate and efficient coagulation testing, and the collaboration aims to improve patient diagnosis and management. The diverse range of analyzers caters to various healthcare settings, making coagulation testing more accessible.

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Key Segments -

The point-of-care (poc) coagulation testing market covered in this report is segmented -

1) By Technology: Optical Technology, Mechanical Technology, Electrochemical Technology
2) By Distribution Channel: Direct Tenders, Retail
3) By End-User: Hospitals, Clinics, Home care

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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