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Hemostasis Diagnostics Market

Hemostasis Diagnostics Market

Prevalence of Cardiovascular Diseases Treatment to Bolster the Growing Adoption of Hemostasis Diagnostics during 2021-2031

Hemostasis Diagnostics Market
FACT6742MR
  • Aug-2021
  • List of Tables : 84
  • List of Figures : 112
  • 170 Pages
  • Healthcare

Market Snapshot

As per the latest industry analysis on hemostasis diagnostics by Fact.MR, the global market was valued at around US$ 2 Bn in 2020, and is expected to accelerate at a CAGR of 7% to double in valuation and top US$ 4 Bn by 2031. Demand for point-of-care testing systems to rise at a CAGR of 5% across the assessment period of 2021 to 2031.

Key Points Covered in Hemostasis Diagnostics Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand Share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Demand for Hemostasis Diagnostics and How to Navigate
  • Recommendation on Key Winning Strategies

Hemostasis Diagnostics Demand Analysis from 2016-2020 Vs Future Market Outlook for 2021 to 2031

As per Fact.MR - a market research and competitive intelligence provider, the global market for hemostasis diagnostics was valued at US$ 2 Bn in 2020, and is anticipated to expand at a CAGR of around 7% to top US$ 4 Bn by 2031.

Hemostasis diagnostics help identify hemostatic defects that cause excessive bleeding. Rising incidence of blood clotting in patients particularly who are more prone to losing excess blood from the body during surgeries is a major factor contributing to market growth.

Increasing awareness about hemostasis conditions is expected to improve diagnostic rate and preventive care management, which is predicted to substantially increase testing volumes. Technological advancements have led to the introduction of many novel diagnostic systems and tests, such as introduction of automated blood coagulation analyzers, providing significant growth opportunities for market participants.

How are Technological Advancements Creating Ample Opportunities for Hemostasis Diagnostic Product Manufacturers?

Technology is evolving rapidly. In recent years, blood coagulation monitoring has become crucial to diagnosing the causes of hemorrhages, developing anticoagulant drugs, assessing bleeding risk in extensive surgery procedures and dialysis, and investigating the efficacy of hemostatic therapies.

Hemostasis diagnostics devices have come a long way from quantifying optical density of clots in a cuvette to detection of clotting factors.

Platelet function analyzers, functional assays of particular coagulation proteins, molecular typing immunologic assays, chromogenic assays, and flow cytometry and are examples of these techniques. Advances in technology have resulted in greater capability, productivity, sensitivity, specificity, and ultimately improvement in the clinical care of patients.

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Will Rise in Coagulation Disorders Fuel Demand for Hemostasis Diagnostics?

Coagulation disorders are issues with the body’s capacity to clot blood. These conditions may result in hemorrhage or thrombosis. Coagulatory disorders can be caused by a variety of factors. These conditions can be developed or inherited. Platelet dysfunction, von Willebrand disease, and hemophilia are some of the most common coagulation disorders that can trigger bleeding.

In addition, disseminated intravascular coagulation, deficiency of Vitamin K, and other clotting defects are causes of coagulation disorders that can lead to bleeding. Rising cases are likely to work in favor of the global hemostasis diagnostics market in near future.

Which Region is a Lucrative Market for Hemostasis Diagnostic Product Manufacturers?

North America accounts for around 50% of the global market share for hemostasis diagnostics. Dominance of this region is mainly attributed to rising healthcare infrastructure, high adoption of advanced automated analyzers, and presence of a large patient pool.

In addition, increasing prevalence of numerous blood clot disorders is aggressively propelling demand for hemostasis diagnosis. According to the National Hemophilia Foundation, in 2019, approximately 20,000 Americans were living with hemophilia, thereby positively impacting market growth is North America.

Furthermore, technological advancements have increased access to healthcare services, and entry of new manufacturers are likely to fuel market expansion in the region over the years to come.

hemostasis diagnostics market by FactMR

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Country-wise Analysis

What is the Demand Outlook for Hemostasis Diagnostics in the U.S.?

The market in the U.S was valued at around US$ 620 Mn in 2020. Rise in prevalence of cardiovascular diseases, deep vein thrombosis, and genetic & acquired blood clotting disorders, and advanced healthcare facilities & infrastructure are expected to promote growth of market across the region over the forecast period.

Why is China Flourishing in the Global Market for Hemostasis Diagnostics?

China is forecast to reach a projected market size of around US$ 800 Mn by 2031. Increased prevalence of various hemostasis disorders, presence of regional and international market players, and massive investments in R&D across the country are expected to notably contribute toward the country’s market.

China spends 6% of its GDP on healthcare, according to estimates, and its medical equipment market has grown by double digits over the previous three decades.

Improving healthcare infrastructure, increasing focus of emerging and leading market players on developing markets, rise in number of hospitals, increase in incidence of cardiovascular diseases, and growing adoption of hemostasis diagnostics as part of the treatment of diseases are some of the key factors that have driven demand for hemostasis diagnostics in China.

Category-wise Insights

Why are Point-of-Care Testing Systems Gaining Immense Popularity?

Sales of point-of-care testing systems are forecast to reach a market value of US$ 400 Mn by 2031. Continuous developments in R&D activities to miniaturize molecular and professional diagnostic tests is anticipated to drive demand for these systems.

In addition, improvements in lab automation techniques coupled with introduction of cost-effective and high-quality medical solutions are set to propel segment growth. Patients and clinicians are more inclined towards the usage of POC diagnostic tests with increasing levels of patient awareness about POC processes.

Also, minimally skilled professionals efficiently use POC devices for diagnosis, which serves as one of the segmental drivers.

Several private entities such as the California Institute of Technology, Dartmouth College, and global organizations are involved in POC development programs.

For instance, in August 2018, the American Association for Clinical Chemistry released a certification program for POC testing professionals to improve their diagnostic testing outside clinical laboratories. As such, the segment is likely to witness lucrative growth over the forecast period.

How is Popularity of the D Dimer Test Stimulating Market Growth?

The d dimer test is most often used to find out whether a patient has a blood clotting disorder. The utility of d dimer measurement has been evaluated in several clinical situations including the exclusion of venous thromboembolism (VTE), prediction of future risk of VTE, and the diagnosis and monitoring of disseminated intravascular coagulation (DIC).

Why is Demand for Hemostasis Diagnostics High across Hospitals?

Owing to increasing investments by both, emerging and emerged economies in the healthcare sector, there has been a rise in the construction of hospitals and expansion of established ones. The segment is driven by rise in hospitalizations due to cardiology disorders and increase in the number of hospitals across regions.

How Has COVID-19 Affected Demand for Hemostasis Diagnostics?

Implementation of lockdowns and transport bans due to the COVID-19 pandemic has caused disruptions in all sectors, including the demand for hemostasis diagnostics. Lack of raw materials has caused a slowdown in the production of medical equipment.

Medical equipment needs to go through a series of pre- and post-market clinical investigations before receiving market authorization certificates. Medical and healthcare departments are operating at full capacity to treat patients as the COVID-19 pandemic spreads. This has led to advancements in technologies and products being used in healthcare.

The year 2021 is projected to be better, with the market regaining its original traction by 2022.

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Competitive Landscape

Major players with a prominent share in the market are focusing on expanding their customer base.

  • In 2017, Werfen and its subsidiary Instrumentation Laboratory Company acquired Accriva Diagnostics to expand leadership in point-of-care testing.
  • In 2018, Sysmex Corporation launched its next-generation analyzers in the hemostasis field - the Automated Blood Coagulation Analyzers CN-6000 and CN-3000.
  • In 2019, Horiba Medical, launched its new parameter, Yumizen D-Dimer, for its Yumizen G Hemostasis range of instruments to diagnose deep vein thrombosis and pulmonary embolism.

Hemostasis Diagnostics Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Market Segments Covered

  • U.S.
  • Canada
  • Germany
  • U.K.
  • France
  • Spain
  • Italy
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Australia
  • Brazil
  • Mexico
  • Argentina
  • GCC
  • South Africa
Key Market Segments Covered
  • Product
  • Test
  • End User
  • Region

Key Companies Profiled

 

  • Abbott Laboratories
  • HORIBA, Ltd.
  • F. Hoffmann-La Roche Ltd.
  • Nihon Kohden Corporation
  • Thermo fisher Scientific Inc.
  • Danaher Corporation
  • Sysmex Corporation
  • Siemens Healthineers
  • Alere Inc.
  • Instrumentation Laboratory
  • Grifols S.A.
  • Medtronic
  • Beckman Coulter, Inc.
  • Helena Labor
Pricing

Available upon Request

Market Categorization as Per Hemostasis Diagnostics Industry Research

  • Product

    • Laboratory Systems
    • Consumables
    • Point-of-Care Testing Systems
  • Test

    • Prothrombin Test Time (PT)
    • Activated Partial Thromboplastin Time (APTT)
    • Fibrinogen Degradation Products (FDP)
    • Activated Clotting Time
    • Platelet Aggregation Test
    • D Dimer
  • End User

    • Hemostasis Diagnostics at Hospital and Clinics
    • Hemostasis Diagnostics at Research Institutes
    • Hemostasis Diagnostics at Independent Diagnostic Laboratories

- FAQs -

The global hemostasis diagnostics market is currently worth US$ 2 Bn.

Increased prevalence of blood clotting disorders is driving demand for hemostasis diagnostics.

North America accounts for 50% revenue share for hemostasis diagnostics, and will remain a lucrative region for market players.

Prominent players operating in this market are Abbott Laboratories, HORIBA, Ltd., F. Hoffmann-La Roche Ltd., and Nihon Kohden Corporation.

Point-of-care testing systems hold a large revenue share of 40% in the market.     

The European market is projected to expand at a CAGR of 4% during 2021 – 2031.

The industry is expected to reach a value of above US$ 4 Bn by the end of 2031, with sales revenue expected to accelerate at a CAGR of around 7%.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

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