Global Blood Coagulation Testing Market Driven By The Increasing Prevalence Of Liver Diseases
The global blood coagulation testing market is driven by the adoption of advanced technologies in blood coagulation testing over the review period. Furthermore, the growing prevalence of liver disease, hemophilia, and thrombophilia are also expected to drive the market growth. However, the availability of poor reimbursement policies and expensive treatment of multiple developing countries across the world are expected to hinder the growth considerably of the global blood coagulation market over the review period.
The global market for blood coagulation is segmented on the basis of product, application, test type, and end user.
The products available in the blood coagulation market are automated testing, clinical laboratory, and semi-automated testing.
On the basis of application, the blood coagulation market has been segmented into acquired bleeding disorders, hemophilia, congenital bleeding disorders, and Von Willebrand disease.
By test type, the global blood coagulation market has been segmented into various testing kits and others. Additionally, testing kits are sub-segmented into activated clotting time, D dimer, and fibrinogen, (FIB prothrombin time (PT).
by end user, the global blood coagulation market is segmented into academic institutions, diagnostic laboratories, and hospitals.
The Americas dominates the global blood coagulation testing market owing to the increasing patient with liver disease, hemophilia, and von Willebrand disease (vWF). Additionally, in North America, the early adoption of advanced technology, increasing government initiatives for research and development activities, high health care expenditure, and the presence of several significant companies contribute to the growth of the blood coagulation market in this region during the evaluation period.
European region accounts for the second largest region in the global blood coagulation testing market and is likely to maintain its market share over the evaluation period. The notable growth of the region is owing to the increasing initiatives and expenditure of the government towards research and development activities. This is projected to continue to drive the European market over the forecast period. Additionally, developing countries such as Germany and France are increasing their investment in the healthcare domain to improve medical facilities.
The Asia Pacific (APAC) region is the fastest growing blood coagulation testing market over the assessment period. This is attributed to the presence of rapidly developing healthcare technology, expansion of medical infrastructure, a vast patient populace, and higher healthcare expenditure. Furthermore, increasing demand for the introduction of new treatment methods in countries like India, Japan, and South Korea is likely to contribute to the substantial market share over the review period. Additionally, growing demand for quality devices in the healthcare is anticipated to increase the adoption of advanced equipment, which, consequently, is likely to surge the growth of the blood coagulation testing market in the region during the forecast period.
the Middle East and Africa (MEA) region is accounted for the smallest market share over the review period. This is accredited to the increasing prevalence of blood disorders, which have become a massive problem owing to ignorance of diseases, lack of consumer awareness, limited screening, and poor access to treatment. The increase in government initiatives to improve the healthcare sector to offer necessary medical facilities, expand the infrastructure, and adopt advanced healthcare technologies, is expected to contribute substantially to the market share over the evaluation period. Additionally, the middle eastern developing countries are expected to contribute to the majority of the market share.
The key players acknowledged in the global blood coagulation market are Accriva Diagnostics (U.S.A.), Alere Inc. (U.S.), Bio/Data Corporation (U.S.), CoaguSense, Inc. (U.S.),F. Hoffmann-La Roche Ltd. (Europe), HomoSonics LLC. (U.S.), iLine Microsystems. (Europe), Instrumentation Laboratory (U.S.), Siemens Healthcare Private Limited (Europe), Sienco, Inc. (U.S.), SenGenix Inc. (U.S.).