PUBLISHER: The Business Research Company | PRODUCT CODE: 1513215
PUBLISHER: The Business Research Company | PRODUCT CODE: 1513215
Point-of-care (POC) coagulation testing devices are portable, easy-to-use medical devices used to assess the clotting ability of blood outside of a traditional laboratory setting. They are designed to provide rapid and accurate results, allowing healthcare providers to make immediate treatment decisions for patients with coagulation disorders or those at risk of abnormal bleeding or clotting.
The main products of point-of-care (POC) coagulation testing devices are coagulation monitors, consumables, and coagulation analyzers. Coagulation monitors are medical devices used to measure the clotting ability of blood, typically in a point-of-care (POC) setting. They work by using various technologies, including optical technology, mechanical technology, and electrochemical technology, and follow prothrombin time and international normalized ratio, viscoelastic coagulation monitoring, and other methods. The different applications include blood glucose testing, infectious diseases testing, cardiac markers testing, coagulation testing, blood gas and electrolyte testing, and others, and are used by hospitals, diagnostic laboratories, clinics, and others.
The point-of-care (POC) coagulation testing devices market research report is one of a series of new reports from The Business Research Company that provides point-of-care (POC) coagulation testing devices market statistics, including point-of-care (POC) coagulation testing devices industry global market size, regional shares, competitors with a point-of-care (POC) coagulation testing devices market share, detailed point-of-care (POC) coagulation testing devices market segments, market trends and opportunities, and any further data you may need to thrive in the point-of-care (POC) coagulation testing devices industry. This point-of-care (POC) coagulation testing devices market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The point-of-care (POC) coagulation testing devices market size has grown strongly in recent years. It will grow from $1.93 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth during the historic period can be attributed to the increasing prevalence of infectious and chronic diseases, a rising geriatric population, the expanding use of miniaturized portable instruments, the growing application of biomarker profiling, and the heightened demand for personalized medicine.
The point-of-care (POC) coagulation testing devices market size is expected to see strong growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth forecast can be attributed to the rising demand for rapid and accurate disease diagnosis, an increased focus on wellness and preventive healthcare, the growing need for rapid and on-site diagnostic testing, the increase in infectious disease outbreaks, and the rise of telemedicine. Major trends anticipated in the forecast period include the integration of next-generation sequencing (NGS), RNA detection and analysis, single-cell PCR analysis, bioinformatics software and data analysis tools, microfluidic technologies, lab-on-a-chip systems, point-of-care testing (POCT), and the use of artificial intelligence (AI) and data analytics.
The increasing prevalence of blood clotting disorders is anticipated to drive the growth of the point-of-care (POC) coagulation testing devices market in the future. Blood clotting disorders hinder the blood's ability to clot correctly. Lifestyle factors such as smoking, excessive alcohol consumption, and a sedentary lifestyle contribute to these disorders by affecting blood vessel health, clotting factor levels, and blood flow, thereby increasing the risk of abnormal clot formation. POC coagulation testing devices allow healthcare providers to rapidly assess a patient's coagulation status, enabling timely adjustments to medication dosages and treatment plans. For example, the World Federation of Hemophilia, a Canada-based international non-profit organization, reported in December 2022 that in 2021, 429,232 individuals worldwide were affected by bleeding disorders. This included 256,840 with hemophilia, 98,293 with von Willebrand disease (VWD), and 74,099 with other bleeding disorders, marking a 9% increase from the previous year. Hemophilia cases rose by 6%, VWD cases by 12%, and other bleeding disorders by 15%. Consequently, the rising prevalence of blood clotting disorders is driving the growth of the POC coagulation testing devices market.
Leading companies in the POC coagulation testing devices market are developing immunofluorescence-based quantitative analyzers to enhance the diagnosis and management of coagulation disorders. These analyzers are used in laboratories to measure and quantify specific proteins or molecules involved in the coagulation process, aiding in the diagnosis and management of blood clotting disorders. For instance, in January 2023, Cipla Limited, an India-based pharmaceutical company, launched Cippoint, an immunofluorescence-based quantitative analyzer. Cippoint utilizes immunofluorescence technology to deliver rapid and accurate test results within 3 to 15 minutes, facilitating faster clinical decision-making. Its user-friendly interface, quick turnaround time, and comprehensive testing capabilities make Cippoint crucial for improving diagnostic efficiency and patient care outcomes.
In September 2021, LumiraDx, a UK-based next-generation point-of-care diagnostic company, merged with CA Healthcare Acquisition Corp. for $3 billion. This merger allows LumiraDx to leverage its innovative diagnostic platform to enhance POC coagulation testing. With a pipeline of over 30 assays covering various health conditions, including coagulation disorders, LumiraDx can develop and provide advanced coagulation testing solutions to healthcare providers. CA Healthcare Acquisition Corp. is a US-based special purpose acquisition company (SPAC) that invests in growth-oriented healthcare companies.
Major companies operating in the point-of-care (POC) coagulation testing devices market are Roche Diagnostics, Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Siemens Healthineers, Koninklijke Philips N.V., Bio-Rad Laboratories Inc., Werfen, Haemonetics Corporation, Sonora Quest Laboratories, 23andMe Holding Co, Thorne HealthTech Inc., Metropolis Healthcare Limited, Color Health Inc, LetsGetChecked Inc., Ambry Genetics Corporation, MyHeritage Ltd, Genova Diagnostics Inc., Everlywell Inc., Complete Genomics Incorporated, DanteLabs Inc., HemoSonics LLC, Gene by Gene Ltd., Veritas Intercontinental, DirectLabs LLC, Full Genomes Corporation Inc., Ulta Lab Tests LLC, WellnessFX Inc., Any Lab Test Now Inc.
North America was the largest region in the point-of-care (POC) coagulation testing devices market in 2023. The regions covered in the point-of-care (POC) coagulation testing devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the point-of-care (POC) coagulation testing devices market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The point-of-care (POC) coagulation testing devices market consists of revenues earned by entities by providing services such as increased patient comfort, improved workflow efficiency, better patient management, remote monitoring capabilities, emergency use for immediate testing, and assessment of anticoagulant reversal effectiveness. The market value includes the value of related goods sold by the service provider or included within the service offering. The point-of-care (POC) coagulation testing devices market also includes sales of viscoelastic testing devices, platelet function testing devices, and D-Dimer testing devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Point-of-Care (POC) Coagulation Testing Devices Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on point-of-care (POC) coagulation testing devices market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for point-of-care (POC) coagulation testing devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The point-of-care (POC) coagulation testing devices market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.