Point-of-Care Coagulation Testing Devices Market: Introduction
Transparency Market Research delivers key insights on the global point-of-care coagulation testing devices market. In terms of revenue, the global point-of-care coagulation testing devices market is projected to expand at a CAGR of ~6% during the forecast period, owing to numerous factors, regarding which, TMR offers thorough insights and forecasts in the point-of-care coagulation testing devices market report.
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According to TMR’s analysis of the global point-of-care coagulation testing devices market, leading players in the market focus on new products with multiple modes and features, which will be more efficient and deliver a new level of convenience and test modes. Moreover, these players focus on increasing their penetration in new regions through mergers and acquisitions, thereby increasing their share in the global point-of-care coagulation testing devices market. For instance, in April 2019, Ortho Clinical Diagnostics, in collaboration with Diazyme Laboratories, Inc. launched its D-Dimer assay, the latest offering in Ortho’s MicroTip Partnership Assay (MPA) program.
In terms of method, the PT/INR segment held the largest share of the global point-of-care coagulation testing devices market in terms of revenue in 2018. The segment is anticipated to dominate the market from 2019 to 2027. The ever-increasing trend of point-of-care testing and self-monitoring with PT tests is expected to fuel the growth of the segment. Furthermore, the high reliability of coagulation status on PT testing is one of the factors likely to boost the growth of the segment during the forecast period.
Based on product, the technological leap from conventional testing to automation and use of lower blood volumes contribute to the growth of the instruments/analyzers segment. Increase in the demand for quicker results, rise in the trend of self- and home-monitoring, surge in POC testing, and reliable results are the major factors projected to drive the segment in the global point-of-care coagulation testing devices market.
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Global Point-of-Care Coagulation Testing Devices Market: Prominent Regions
North America accounted for a leading share of the global point-of-care coagulation testing devices market in terms of revenue in 2018, followed by Europe There has been a gradual rise in the demand for multiplexing diagnostic tools, and an increase in investments toward the development of these tools. Surge in the demand for more rapid and specific diagnosis to support rapid decision-making drives the global point-of-care coagulation testing devices market. Additionally, the demand for these tools in physician offices and emergency departments as standard testing tools is rising. Recent FDA approvals for point-of-care coagulation testing devices, such as Abbott’s i-STAT, indicate the increasing demand and support among both, public and private sectors, along with manufacturers’ focus on addressing this rising demand. Asia Pacific is witnessing gradual adoption of novel products, increase in healthcare expenditure, and change in dynamics in the in vitro diagnostics industry. These factors are leading to a rise in the adoption of new technologies among hospitals and diagnostic laboratories.
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Key manufacturers in the global point-of-care coagulation testing devices market focus on collaborations in order to sustain in this competitive market space. Increase in the sales of point-of-care coagulation testing devices through e-Commerce sites and purchase of devices online have positively impacted the global point-of-care coagulation testing devices market. Easy-to-compare prices of numerous products has led to a rise in the preference for online sales.
Global Point-of-Care Coagulation Testing Devices Market: Key Players
Key players operating in the global point-of-care coagulation testing devices market include F. Hoffmann-La Roche AG, Abbott Laboratories, Siemens Healthineers, Medtronic plc, Haemonetics Corporation, HemoSonics, LLC, Micropoint Bioscience, Inc., Werfen, Sienco, Inc., and Koninklijke Philips N.V.
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