DUBLIN--(BUSINESS WIRE)--The "Hemostasis Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)" report has been added to ResearchAndMarkets.com's offering.
The global hemostasis diagnostics market is expected to grow at a CAGR of 8.1% over the forecast period. Rising incidences of blood clotting diagnosis for patients particularly who are more prone to lose excess blood from body during surgeries is the major factors contributing to the growth of the market.
According to the National Hemophilia Foundation, in 2019, around 400,000 people were affected by hemophilia. And out of which approximately 75% of people with hemophilia around the world still receive inadequate treatment or have no access to treatment. Hence affecting the growth of the market positively.
Furthermore, increasing awareness about hemostasis conditions is expected to improve the diagnostic rate and preventive care management, which is predicted to substantially increase the testing volume. Advent in technology led to introduction of many novel diagnostic systems and tests such as introduction of automated blood coagulation analyzers, provide significant growth opportunity to this market in coming few years. However, lack of awareness regarding hemostasis disorders in underdeveloped regions and stringent government regulation may restrict the market.
Market Dynamics
Market Drivers
- Rising Incidences of Blood Clotting Disorders
- Technological Advancements for Medical Treatment
- Rising Adoption of Automated Hemostasis Equipment
Market Restraints
- Lack of Awareness in Developing Countries
- Stringent Government Regulation
Key Market Trends
The Point-of-Care Testing System Segment Dominates the Market and is Expected to Continue the Same during the Forecast Period
The point-of-care testing system segment is predicted to gain the highest share over the forecast period. Continuous developments in R&D activities to miniaturize molecular and professional diagnostic tests is anticipated to drive the demand for the systems. In addition, improvements in lab automation techniques coupled with introduction of cost-effective and high-quality medical solutions is set to propel the growth. Additionally, patients and clinicians are more inclined towards the usage of POC diagnostic tests with increasing levels of patient awareness about the POC processes drives the market growth. Also, minimally skilled professionals efficiently use POC devices for diagnosis, which serves as one of the segmental drivers.
Several private entities such as California Institute of Technology, Dartmouth College and global organizations are also involved in POC development programs. For instance, in August 2018, the American Association for Clinical Chemistry released certification program for POC testing professionals, to improve their diagnostic testing outside the clinical laboratories. Hence the segment is likely to witness lucrative growth over the forecast period.
The North America Dominates the Market and is Expected to Continue the Same during the Forecast Period
North America dominates the market with highest market share over the forecast period. The dominance of this region was mainly attributed to the increased healthcare infrastructure, high adoption of advanced automated analyzers, and the presence of large patient pool. In addition, increasing prevalence of numerous blood clot disorders is aggressively propelling the demand for hemostasis diagnosis. According to the National Hemophilia Foundation, in 2019, approximately 20,000 Americans are living with hemophilia, thereby positively impacting the growth of the North America market.
The Asia-Pacific is expected to witness the fastest growth over the forecast period. The developing countries under study are currently undergoing a paradigm shift and are investing huge amount of government funds to procure and install such medical devices into their public healthcare facilities. Growing awareness and presence of a huge patient pool in developing economies such as India and China can further fuel the regional demand.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
5 MARKET SEGMENTATION
6 COMPETITIVE LANDSCAPE
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Companies Mentioned
- Abbott
- Beckman Coulter, Inc
- F. Hoffmann-La Roche Ltd
- Grifols, S.A.
- Instrumentation Laboratory
- Nihon Kohden Corporation
- Sysmex Corporation
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Thermo Fisher Scientific, Inc.
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