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Point-of-Care (POC) Coagulation Testing Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033
Point-of-Care (POC) Coagulation Testing Market
According to The Business Research Company's, 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.
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Market Drivers and Trends:
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.
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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Major Key Players of the Market:
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
Point-of-Care (POC) Coagulation Testing Market 2024 Key Insights:
• The point-of-care (poc) coagulation testing market is expected to grow to $1.42 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.
• Cardiovascular Disease Rates Fuel Expansion Of POC Coagulation Testing Market
• Increasing Focus On Innovating With Connected POC Coagulation Solutions In A Competitive Market
• North America was the largest region in the point-of-care (POC) coagulation testing market in 2023
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