PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454106
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1454106
Platelet Aggregation Devices Market size was valued at USD 854.40 Million in 2023, expanding at a CAGR of 5.5% from 2024 to 2032.
Medical devices called platelet aggregation devices are used to evaluate how well platelets clump or aggregate. These tools are used to identify and track a number of illnesses, including thrombotic disorders, bleeding disorders, and cardiovascular diseases.
Platelet Aggregation Devices Market- Market Dynamics
The rising prevalence of chronic disease propels the market growth
The rising prevalence of chronic disease is expected to propel the platelet aggregation devices market over the forecast period. For instance, according to data released by the British Heart Foundation (BHF) in January 2022, the most prevalent heart conditions affected worldwide in that year were atrial fibrillation (60 million), peripheral arterial (vascular) disease (110 million), coronary (ischemic) heart disease (200 million), and stroke (100 million). According to the survey, 46 million people in North America, 99 million in Europe, 58 million in Africa, 32 million in South America, and 310 million in Asia and Australia were estimated to have heart and circulatory illnesses in 2022. Thus, the aforementioned stats propel the market growth over the forecast period.
Platelet Aggregation Devices Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.5% over the forecast period (2024-2032)
Based on product type segmentation, the Consumables and Accessories category dominates the market
Based on application segmentation, the research applications segment is expected to dominate the market over the forecast period
Based on end-use segmentation, the Research and Academic Institutes segment is expected to dominate the market over the forecast period
Based on region, North America was the leading revenue generator in 2023
The Global Platelet Aggregation Devices Market is segmented based on Product Type, Application, End-use, and Region.
Based on the product type, the global platelet aggregation devices market is segmented into Consumables and Accessories and Systems and Instruments. The Consumables and Accessories category dominates the market. The healthcare industry's constant need for reagents, test kits, and disposable parts to support diagnostic and research endeavors guarantees a steady flow of revenue for producers. Furthermore, the need for specialized consumables is driven by ongoing technical breakthroughs and the growing applications of platelet aggregation testing. For instance, Futura Surgicare Pvt Ltd increased the range of products it offered in February 2022 when it introduced Hemostax under the new Dolphin Hemostats brand. Hemostax is an absorbable hemostatic agent that helps surgeons control bleeding more effectively. Such activities by market participants further add to the segment's dominance in 2023 and the forecast timeframe.
Based on the application, the industry is segmented into research applications and clinical applications. The research applications segment is expected to dominate the market over the forecast period. One of the main reasons for this segment's domination is the increase in R&D activities for the use of platelet aggregation devices in the diagnosis of various chronic illnesses. These instruments are mostly employed in toxicity evaluation and the screening of new medication formulations.
Based on the end-use, the market is segmented into hospitals, Research and Academic Institutes and Diagnostic Centers. The Research and Academic Institutes segment is expected to dominate the market over the forecast period. Because of their essential research, academic and research institutions control the market. For instance, in October 2023, scientists at the University of Birmingham achieved a significant breakthrough by developing nanobodies that regulate platelet clumping and offer priceless insights. These nanobodies improve the accuracy of diagnosis and the possibility of treatment by providing access to sophisticated platelet aggregation devices. Because of this, the market is expected to increase significantly, driven by the need for more efficient methods to manage disorders related to platelets.
Platelet Aggregation Devices Market- Geographical Insights
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to dominate the market during the forecast period. One major factor fueling the region's market expansion is the frequency of blood-related illnesses including lymphoma, leukemia, and other disorders. Solutions for diagnosis and treatment are becoming more and more necessary as the prevalence of these diseases rises. These tools are essential for tracking and controlling these disorders, which helps with the creation of individualized treatment regimens and patient care. For instance, the Leukemia & Lymphoma Society projects that in 2023, leukemia, lymphoma, and myeloma new cases will make up 9.4% of the anticipated 1,958,310 new cases of cancer in the US. Furthermore, according to the American Cancer Society, non-Hodgkin lymphoma (NHL) accounts for around 4% of all cancer cases diagnosed in the United States, which increases demand for platelet aggregation devices in the North American market.
Siemens Healthcare GmbH, Sysmex Corporation, and Hoffman-La Roche Ltd. are important well-known players in the industry. To improve their position in the industry, several market players are purchasing smaller competitors. By using this approach, businesses may boost their abilities, diversify their product offerings, and enhance their capabilities. Emerging players concentrate on launching new products to build their client base before concentrating on regional expansion to reach a wider audience. For value and brand awareness, these players also cooperate and partner with well-known, established businesses.
In February 2022, Hemostatic goods were introduced by Futura Surgicare Pvt Ltd under Dolphin Hemostats new vertical brand, Hemostax (Oxidized Regenerated Cellulose). An absorbable hemostat called Hemostax Standard was created to aid surgeons in better managing bleeding.
GLOBAL PLATELET AGGREGATION DEVICES MARKET KEY PLAYERS- DETAILED COMPETITIVE INSIGHTS
Siemens Healthcare GmbH
Drucker Diagnostics
Chrono-Log Corporation
F. Hoffmann-La Roche Ltd
Haemonetics Corporation
AggreDyne, Inc.
Werfen
Sysmex Corporation
Sienco, Inc.
Bio/Data Corporation
Heamochrom Diagnostica GmbH
Grifols, S.A.