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Coagulation Analyzer Market Report 2024 - Coagulation Analyzer Market Growth, Demand And Forecast
Coagulation Analyzer Market
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According to The Business Research Company's, The coagulation analyzer market size has grown strongly in recent years. It will grow from $2.96 billion in 2023 to $3.18 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to increasing aging population, rise in chronic diseases, growing surgical procedures, anticoagulant therapy monitoring, rising incidence of hemophilia.
The coagulation analyzer market size is expected to see strong growth in the next few years. It will grow to $4.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to point-of-care testing (poct) adoption, rising demand for home-based monitoring, integration of connectivity solutions, increasing focus on personalized medicine, global expansion of hemostasis management programs. Major trends in the forecast period include technological innovations in assay design, advancements in technology, miniaturization and portability, multiplex assays for comprehensive testing, collaborations for research and development.
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Market Drivers and Trends:
The rising prevalence of leukemia is expected to propel the growth of the coagulation analyzer market going forward. Leukemia is a type of blood cancer distinguished by the fast proliferation of abnormal blood cells, which affects the body's ability to fight infection, including the lymphatic system and bone marrow. A coagulation analyzer is helpful for leukemia patients to test disseminated intravascular coagulation (DIC) with prolongation of PT, low fibrinogen levels, platelet counts, and elevated D-dimer levels. For instance, in January 2023, according to the American Cancer Society, a US-based health organization, there were a total of 59,610 new cases of leukemia (all kinds) and 23,710 deaths from leukemia (all kinds). Further, GLOBOCAN, an online database providing global cancer statistics and estimates of incidence and mortality, reports that 474,519 new cases of leukemia were detected worldwide in 2020. Therefore, the rising prevalence of leukemia drives the coagulation analyzer market.
Product innovations are a key trend gaining popularity in the coagulation analyzer. Major companies in the coagulation analyzer market are developing advanced products to sustain their position in the market. For instance, in December 2022, Charles River Laboratories International, Inc., a US-based non-clinical contract research organization, launched the Endosafe Nexus 200, a new addition to its broad endotoxin testing line. The Nexus 200 is a data integrity compliant, fully robotic instrument that is the next step in Charles River's evolution. It employs Endosafe Limulus Amebocyte Lysate (LAL) cartridge technology and is capable of handling simple or complex serial dilutions for water, in-process, and final product testing. The system, which runs Endosafe EndoScan-V version 6.1, allows data to be exported into a LIMS interface and provides increased traceability, security, and data management on an integrated touch screen.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Siemens AG, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Beckman Coulter Inc., Sysmex Corporation, Werfen S.A., Nihon Kohden Corporation, Instrumentation Laboratory Company, ARKRAY Inc., Maccura Biotechnology Co. Ltd., Beijing Succeeder Technology Inc., Helena Laboratories Corporation, Diagnostica Stago Sas, Trivitron Healthcare Pvt. Ltd., A&T corporation, ACON Laboratories Inc., Genrui Biotech Inc., Teco Medical Instruments, Eurolyser Diagnostica GmbH, Bio Group Medical System, LAbor BioMedical Technologies GmbH, Alere Inc., AGD Biomedicals Pvt Ltd, VSI Electronics Private Limited, Micro Lab Instruments, Meril Life Science Pvt. Ltd., Jinan Kinghawk Technology Co. Ltd, Bioevopeak Co. Ltd.
Coagulation Analyzer Market 2024 Key Insights:
• The coagulation analyzer market size is expected to see strong growth in the next few years. It will grow to $4.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
• Surge In Prevalence Boosts Growth In The Coagulation Analyzer Market
• Innovative Advancements In Coagulation Analyzer Market With Robotic Instrument
• North America was the largest region in the coagulation analyzer market in 2023
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