Coagulation / Hemostasis Analyzer Market Segmentation By Product (Clinical Laboratory Analyzers, Point-of-care Testing Analyzers); Test (Prothrombin Time Testing, Fibrinogen Testing, Activated Clotting Time Testing, Activated Partial Thromboplastin Time Testing, D-dimer Testing, Platelet Function Tests, Anti-Factor XA Tests, Heparin & Protamine Dose-response Tests for ACT, Others); Technology (Optical, Mechanical, Electrochemical, Other); End User (Hospitals, Research Institutes, Clinical Laboratories, Others); Region Size, Share, Growth Analysis | Forecast (2024 2030)

Coagulation/Hemostasis Analyzer Market Overview (2024 – 2030)

In 2021, the Coagulation/Hemostasis Analyzer Market demonstrated a value of USD 4.33 billion, projecting an estimated revenue surge to USD 6.16 billion by 2030. A compound annual growth rate (CAGR) of 5.2% is anticipated during the forecast period from 2023 to 2030. The escalating prevalence of blood-related disorders has prompted increased resource allocation for the establishment of coagulation analyzers, propelling market expansion. Additionally, the rise in cardiovascular and blood-related ailments, coupled with an aging and obese population, contributes to the overall market growth.

INDUSTRY OVERVIEW

Coagulation, also referred to as hematology, involves the process by which blood forms a clot to facilitate wound healing. Physicians employ coagulation analyzers to quantify and categorize blood cells, assessing patients' blood clotting function through tests like PT, APTT, ACT, and others. Haematology analyzers offer insights into parameters such as hemoglobin levels, corpuscular data, platelet counts, and hematocrit levels. The increasing prevalence of blood disorders and lifestyle diseases has led to a heightened demand for coagulation analyzers, which play a pivotal role in enhancing the quality of life for individuals with thrombotic and bleeding conditions.

Over the last decade, rapid technological advancements and the introduction of innovative coagulation analyzer tests have enhanced the efficiency and productivity of hemostasis laboratories. Modern sophisticated coagulators boast features like high throughput, adaptability, and reliability, along with improved accuracy facilitated by user-friendly software equipped with graphical interfaces and calibration curves. The escalating frequency of heart diseases and blood disorders globally has stimulated the development of advanced coagulation analyzers, with sales benefiting from the increased presence of hospitals, diagnostic centers, and research institutes.

IMPACT OF COVID-19 ON COAGULATION/HEMOSTASIS ANALYZER MARKET

During the initial stages of the COVID-19 pandemic, precise diagnostic techniques for patient diagnosis were lacking. Consequently, alternative diagnostic tests were initially employed, but proved ineffective. Seizing the opportunity, diagnostic companies introduced COVID-19 diagnostic kits to meet the demand. Several major firms and startups worldwide capitalized on the need for COVID-19 diagnostic tests, gaining a competitive edge and sustaining revenue during the crisis. The profound impact of COVID-19 on the Hemostasis/Coagulation Analyzer market is inevitable due to these factors.

MARKET DRIVERS:

The global rise in cardiovascular problems remains the primary driver of Coagulation/Hemostasis market growth.

The increasing incidence of hemorrhage and lifestyle-related disorders worldwide has led to a widespread adoption of hemostasis-coagulation analyzers. Changes in lifestyles and a surge in obesity cases, attributed to alterations in eating habits, contribute to the market's growth. Additionally, heightened awareness regarding diagnostic techniques preventing heart attacks is fueling market demand. Government funding for the development of hemostasis-coagulation analyzers to address these conditions is a significant factor driving the Hemostasis-Coagulation Analysis Market.

Ongoing technological advancements in Hemostasis-Coagulation Analyzers are poised to stimulate market development.

The integration of automated systems in laboratories is significantly influencing market demand. Leading companies are focusing on developing sophisticated clinical laboratory analyzers and point-of-care diagnostic analyzers to enhance the quality of life for patients with thrombotic and bleeding diseases. The demand for improved analyzers, capable of delivering precise results in a shorter time, is further boosting the Hemostasis-Coagulation Analysis Market.

MARKET RESTRAINTS:

The substantial cost associated with automated coagulation analyzers poses a major challenge to market growth.

Major players in the market are collaborating on multiple explorations to develop enhanced hemostasis-coagulation analyzers for treating various bleeding diseases. However, the high cost of automated hemostasis-coagulation analyzers is expected to impede the growth of the Hemostasis-Coagulation Analysis Market.

The global coagulation/hemostasis analyzer market faces a gradual slowdown due to a lack of standardization.

The high operational and maintenance costs of automatic coagulation analyzers present a challenge to market development. Stringent regulations imposed by government agencies for medical device approval also hinder the market. The emergence of cost-effective, high-tech alternatives is discreetly diminishing market demand. Additionally, insufficient awareness of analyzer usage in remote regions contributes to a slower pace of market development.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY PRODUCT

• Clinical Laboratory Analyzers
• Point-of-care Testing Analyzers

The Coagulation/Hemostasis Analyzer Market is categorized into Clinical Laboratory Analyzers and Point-of-care Testing Analyzers based on the product. Clinical Laboratory Analyzers, contributing the highest market share, are witnessing significant growth due to the increased demand for automated hemostasis analyzers in medical diagnostics. The market is expected to experience substantial expansion throughout the forecast period.

COAGULATION/HEMOSTASIS ANALYZER MARKET – BY TEST

• Prothrombin Time Testing
• Fibrinogen Testing
• Activated Clotting Time Testing
• Activated Partial Thromboplastin Time Testing
• D-dimer Testing
• Platelet Function Tests
• Anti-Factor XA Tests
• Heparin & Protamine Dose-response Tests for ACT
• Others

The Coagulation/Hemostasis Analyzer Market's Test segment includes Prothrombin Time Testing, Fibrinogen Testing, Activated Clotting Time Testing, Activated Partial Thromboplastin Time Testing, D-dimer Testing, Platelet Function Tests, Anti-Factor XA Tests, and Heparin & Protamine Dose-response Tests for ACT, among others. In 2021, the Prothrombin Time (PT) Test category dominated the market share, projected to grow at a CAGR of 10.8% from 2023 - 2030. Factors such as increased commercial availability of analyzers for thrombotic thrombocytopenic purpura (TTP) diagnosis and heightened awareness of prothrombin time (PT) tests are driving this growth. Activated Partial Thromboplastin Time Testing also made a significant impact on market development in 2021, holding the second-largest market share.

COAGULATION/HEMOSTASIS ANALYZER MARKET – BY TECHNOLOGY

• Optical
• Mechanical
• Electrochemical
• Other

The Coagulation/Hemostasis Analyzer Market's Technology segment comprises Optical, Mechanical, and Electrochemical technologies. Optical technology is expected to witness the most substantial growth during the forecast period, driven by increased use of immunological, chromogenic, and photo-optical methods, leading to the development of advanced optical hemostasis analyzers. Additionally, Mechanical haemostasis technology is anticipated to contribute significantly to market growth, offering more advanced, precise, and cost-effective management.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY END-USER

• Hospitals
• Research Institutes
• Clinical Laboratories
• Others

End-users in the Coagulation/Hemostasis Analyzer Market include Hospitals, Research Institutes, Clinical Laboratories, among others. The Hospitals sector retained the largest share in 2021, driven by factors like the increasing prevalence of thrombotic thrombocytopenic purpura (TTP) and the availability of advanced hemostasis-coagulation analyzers. The Clinical Laboratories category is expected to grow at the fastest rate, with a CAGR of 10.5% between 2022 and 2030, driven by the rising volume of coagulation testing and increased patient awareness of available tests.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY REGION

• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa

The Coagulation/Hemostasis Analyzer Market is regionally divided into North America, Europe, Asia Pacific, Latin America, and The Middle East and Africa. North America played a significant role in 2021, capturing over 30% of the global market share, driven by the increasing prevalence of bleeding disorders, lifestyle-related illnesses, and the availability of modern hemostasis-coagulation analyzers in hospitals. The European market is expected to be the second-largest during the projection period, driven by an aging population, a year-on-year increase in chronic blood illnesses, sedentary lifestyle changes, and a rise in blood-related disorders. The Asia-Pacific segment is anticipated to grow at the fastest rate, attributed to increased usage of APTT tests and major investments in sophisticated hemostasis-coagulation analyzers by key companies.

COAGULATION/HEMOSTASIS ANALYZER MARKET - BY COMPANIES

Several companies have significantly contributed to the expansion of the Coagulation/Hemostasis Analyzer Market through product innovation and ongoing R&D initiatives. The market, characterized by consolidation, witnesses intense competition among top players holding the majority of the market share. To maintain competitiveness, market players are employing various strategies such as mergers, acquisitions, partnerships, and new product releases. Prominent players in the Coagulation/Hemostasis Analyzer Market include:

1. Danaher Corporation
2. Abbott Laboratories
3. Siemens Healthineers Group
4. Thermo Fisher Scientific
5. Sysmex Group
6. Horiba
7. Nihon Kohden
8. Roche Diagnostics
9. Robimes India Pvt. Ltd
10. Meril Life Sciences
11. Maccura Biotechnology Co. Ltd
12. Bio Group Medical System
13. Genrui Biotech Inc
14. A&T Corporation
15. Diagnostica Stago SAS
16. Haematonics
17. Helena Laboratories.

A SIGNIFICANT EVENT IN THE COAGULATION/HEMOSTASIS ANALYZER MARKET

PRODUCT LAUNCH - In October 2021, Trivitron Healthcare, a prominent player in the medical device industry, unveiled a new series of Coagulation Analyzer products from Diagon Ltd.

PRODUCT LAUNCH - In December 2021, Nihon Kohden introduced an innovative Automated Hematology Coagulation and ESR Analyzer capable of simultaneously assessing total blood count and erythrocyte sedimentation rate. This analyzer provides test results to assist patients in comprehending their clinical condition.

PRODUCT LAUNCH - In July 2020, Sysmex launched the CN-3000 and CN-6000, advanced automated hemostasis coagulation analyzers. These analyzers aim to enhance the quality of life for individuals dealing with thrombotic and bleeding disorders while increasing the efficiency of tests conducted for therapy monitoring and diagnosis.