Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Clotting or “coagulation” begins the process of repairing an injury to the blood vessel and causes the blood to thicken from a liquid to a gel, which prevents excessive bleeding. However, it can be dangerous if the blood moving through your blood vessels should clot. If such clots form, they can travel through your bloodstream to your brain, heart, or lungs, which can result in a heart attack or stroke. A coagulation test or coagulation checks are performed to determine a person’s ability to clot and how long it takes to clot. This test measures various factors and proteins and how they function so we can determine if the level is below the threshold, which is associated with reduced clot formation and too much bleeding, or too high, which can be associated with forming clots and thrombosis. Coagulation testing procedure is essential for evaluating bleeding patients, including patients scheduled for surgery or during postsurgical care. Coagulation tests measure your blood’s ability to clot, and how long it takes to clot. An increase in geriatric population, and a rise in the prevalence of cardiovascular and blood disorders are key factors which are expected to drive the demand for coagulation testing. Furthermore, research and development activities and rise in the awareness about blood disorders are anticipated to provide lucrative growth opportunities for key players operating in the market.
The growth of the market is driven by an increase in the geriatric population along with a rise in the prevalence of cardiovascular and blood disorders in the region. According to the U.S. Census Bureau, more than 56 million adults ages 65 and older live in the United States, accounting for about 16.9% of the nation's population. By 2030, when the last of the baby boomer generation ages into older adulthood, it is projected that there will be more than 73.1 million older adults. An increase in geriatric population has led to a rise in incidence of several chronic diseases like cardiovascular and blood disorders. According to reports from the American Cancer Society (CLL), about 697,000 people die of heart disease in the United States every year–that's 1 in every 5 deaths. Coronary heart disease (CHD) is the most common type of heart disease, killing approximately 382,820 people annually.
Every year about 805,000 Americans have a heart attack. Of these, 605,000 are a first-time heart attack, and 200,000 happen in people who have already had a heart attack. Thus, rise in cardiovascular and blood disorders is a major factor anticipated to drive the growth of the market.
The implementation of key initiatives to promote awareness regarding blood disorders is expected to contribute to the growth of the market. Also, several governments across various countries are focusing on raising awareness about blood disorders. This is expected to further fuel market growth over the estimated time period.
The high cost involved with fully automated haemostasis equipment, and risk of side-effects associated with blood testing are expected to have a negative impact on the growth of the market.
The lack of awareness about applications of coagulation testing devices is expected to be a key economic challenge. Furthermore, the COVID-19 pandemic has emerged as a major challenge for the growth of the market.
The report provides an in-depth analysis of the United States Coagulation Testing market including, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. An increase in the prevalence of blood diseases has led to rise in demand for coagulation testing, and therefore, the market is expected to witness growth at a specific CAGR from 2023-2029.
United States Coagulation Testing market comprises of different market segments like product, technology, application and end-user.
On the basis of product, the United States Coagulation Testing market consists of key segments like
The consumables segment is expected to gain the most market share over the forecast period. The growth of the segment can be attributed to the high demand for different types of consumables in diagnostic testing.
Also, the instruments segment is expected to witness high growth over the forecast period. High investment in diagnostic testing by the public as well as private organizations is a key factor driving the growth of the segment.
By technology, the United States Coagulation Testing market includes segments like
The mechanical followed by the optical technology segment, is expected to lead the market over the forecast period. The high level of accuracy offered by the mechanical technology is a key factor driving the growth of the segment. Optical and mechanical detection methods are equivalent in terms of correlation, accuracy, and precision for coagulation testing, and that both methods are unaffected by sample turbidity.
The United States Coagulation Testing market finds key applications in
The prothrombin time segment is expected to dominate the market over the forecast period. Prothrombin time measures the time it takes plasma to clot when exposed to tissue factor and reflects the ‘extrinsic’ and ‘common’ pathways of coagulation. It is crucial in case of bleeding, liver synthetic function, DIC, warfarin treatment etc.
The activated clotting time is expected to witness high growth over the forecast period. The activated clotting time measures the time it takes whole blood (rather than plasma) to clot when exposed to an activator of the intrinsic pathway - and assesses both the ‘intrinsic’ and ‘common’ pathways of coagulation.
The United States Coagulation Testing market finds major end-users like
The hospitals and clinics segment is expected to lead the market during the forecast period. An increasing demand for coagulation testing in hospitals and clinics due to rise in prevalence of blood disorders is a major factor which is expected to drive the growth of the segment.
The diagnostic laboratories segment is expected to witness high growth over the estimated time period. An increasing demand for advanced diagnostic testing services is a major factor driving the growth of the segment.
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors with regard to the Coagulation Testing market. The report involves an exclusive study on COVID-19 impact analysis. In addition, the report also includes a complete analysis of changes in the United States Coagulation Testing market, expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of pandemics on United States economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The outbreak of the COVID-19 pandemic has changed the global economic situation. Although respiratory compromise is the cardinal feature of the disease, early studies have suggested that elevated circulating D-dimer levels are associated with mortality, suggesting a distinct coagulation disorder associated with COVID-19. According to a November 2021 study titled "Meta-analysis of coagulation parameters connected with sickness severity and bad prognosis of COVID-19," coagulation problems may be viewed as risk factors for the severity and mortality of COVID-19. In addition, according to a February 2022 update by the National Institutes of Health, the panel advises testing hospitalized COVID-19 patients for thromboembolic disease if they experience a sudden localized loss of peripheral perfusion or a quick decline in pulmonary, cardiac, or neurological function. This is expected to drive the demand for coagulation testing in the upcoming years.
The competitive landscape analysis of the Coagulation Testing market is majorly focused on expanding the growth of coagulation testing industry in United States with new product innovation, business expansion, and the increasing presence of a range of manufacturers operating in coagulation testing sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfil the requirements of consumers, which further contributes to healthy growth in the market.
The key players studied in the market are
May 2022: Precision BioLogic Inc., a developer of hemostasis diagnostic products, is had announced the launch of its new CRYOcheck Chromogenic Factor IX assay in Canada, the European Union, Australia, and New Zealand following market authorization by Health Canada and respective in-country regulatory authorities.
February 2021: Siemens Healthineers and Sysmex Corporation reported the renewal of the companies' long-standing global supply, distributorship, sales and service agreement for a broad portfolio of hemostasis products including a multi-year extension. Additionally, the companies’ agreement includes the future distribution of Sysmex's CN-Series automated blood coagulation analyzers, the CN-3000 and CN-6000, by Siemens Healthineers bringing the next generation of fully automated solutions for mid-and high-volume coagulation testing to laboratories
The United States Coagulation Testing market include segments like product, technology, application, end-user and geography. By product, the market includes segments like instruments and consumables. The consumables segment is expected to gain the major market share over the forecast period. By technology, the Coagulation Testing market includes segments like mechanical technology, optical technology, electrochemical technology and others. The mechanical technology segment is expected to lead the market over the forecast period. By application, the Coagulation Testing market includes segments like thrombin time, prothrombin time, activated clotting time, partial thromboplastin time, activated partial thromboplastin time and others. The prothrombin time segment is expected to witness highest growth over the forecast period. The market includes major end-users like hospitals and clinics, diagnostic laboratories and others. The hospitals and clinics, segment is expected to lead the market during the forecast period.
| Market
Sizing for Year: | 2019-2029 |
| Base
Year: | 2022 |
| Forecast
Period: | 2023-2029 |
| Value: | USD Million |
| Market
Segment studied: | Product Technology Application |
| Market
Players and its Competitors: | Thermo Fisher Scientific Abbott Laboratories F. Hoffmann-La Roche Ltd. Medtronic plc Siemens Sysmex Corporation Helena Laboratories Micropoint Biosciences Nihon Kohden Corporation Diagnostica Sago Sas CoaguSense SenGenix Universal Biosensors iLine Microsystems Bio/Data Corporation |
FREQUENTLY ASKED QUESTIONS
What would be forecast period in the market report?
2023-2029 is the forecast period in the market report.
Which is the leading application segment for the United States Coagulation Testing market?
Prothrombin time segment is anticipated to dominate the market during the forecast period.
Which region is gaining the majority of market share during the forecast period (2023-2029)?
United States is expected to gain a major share of the market during the forecast period (2023-2029).
