Rapid Coagulation Testing: Market Insights
Rapid coagulation testing can be defined as the rapid specific testing of bodily blood fluids at the bedside. Nowadays, rapid coagulation testing are being widely used for management of perioperative coagulation. The main focus has been to reduce inappropriate transfusion, by relying on rapid coagulation testing which can provide results in minutes. In the market, two methods are employed for rapid coagulation testing- aggregometric and viscoelastic. The aggregometric rapid coagulation method is used to monitor and analyze whole blood. Alternatively, viscoelastic rapid coagulation methods are employed to find information on all aspects of coagulation, including cellular and plasma components of whole blood. For management of bleeding patients, viscoelastic rapid coagulation testing devices are the most preferred choice in the market. For developing personalized medicine, rapid detection of coagulation factors in blood is crucial as it provides information on blood coagulation profiles of individual patients.
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Rapid Coagulation Testing: Market Dynamics
Growing ageing population is also one the major aspect that is anticipated to drive the rapid coagulation testing market. In 2015, people with age 65 years and above constituted 7%-8% of the global population. With improving healthcare conditions, the global ageing population is anticipated to rise and is likely to grow at a healthy rate by 2028. As prevalence of major diseases such cardiovascular and cancer are high amongst people of 65 years and above, such diseases decreases body’s immune defense mechanism to fight against infections. The reduced immune functioning of organs leads to one or numerous infections. Such infections lead to blood coagulation disorders, and are tested using rapid coagulation testing methods. Additionally, rapid coagulation testing are increasingly being used to monitor hemostasis. They also provide critical information not available from commonly used coagulation test for patients who had undergone surgery, obstetrics, trauma and other diseases. Besides these rapid coagulation testing devices employ next generation viscoelastic testing instruments providing quick and real-time hemostasis assessment at the point-of-care.
Rapid Coagulation Testing Market: Segmentation
Segmentation by Product Type:
- Instruments
- Coagulation Analyzers
- Cartridges
- Accessories and Disposables
- Calibrators and Controls
- Reagents
Segmentation by Method Type:
- Aggregometric
- Viscoelastic
Segmentation by End User Type:
- Hospitals
- Clinics
- Diagnostic Laboratories
- Home Care Settings
Rapid Coagulation Testing Market: Overview
Owing to long turnaround time of classical coagulation tests, there is an increasing demand for rapid coagulation testing to analyse coagulation results within minutes. The rapid coagulation testing market is characterized by the presence of large number of key vendors, which ensure availability of these devices in niche regions as well. These manufactures ensure that these instruments and devices currently used in the rapid coagulation testing market are lower in cost and easy to operate.
Rapid Coagulation Testing Market: Region-wise Outlook
Geographically, North America is anticipated to be leading region in rapid coagulation testing market in terms of revenue. Europe promises to be the second largest market in global rapid coagulation market. It is anticipated that the increase prevalence of both cardiovascular diseases and geriatric population in the regions will increase the usage of rapid coagulation testing. Besides, increasing patient healthcare awareness and regular monitoring of body’s various fluids including blood and serum will drive the market for rapid coagulation testing in both the regions. In some of the growing economies of East Asia, South Asia and Latin America and South America, rapid coagulation testing devices are widely being used as they are low cost devices. It is anticipated that the rapid coagulation testing market for countries such as China and India will grow at a highest CAGR during the forecast period owing due to high incidence of cardiovascular, HIV, malaria, tuberculosis and road accidents. However, lack of awareness on rapid coagulation testing in some regions of Africa and Middle East may affect the market growth in the forecast period.
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Rapid Coagulation Testing Market: Key Players
The comprehensive market research report provides analysis of key manufacturers having significance presence in the market and their strategies which they follow to sustain the competitive environment of the rapid coagulation testing market. The report also offers information about various research and developmental activities of these players that focus on to come up with innovative solutions. Some of the key and major players operating in global rapid coagulation testing market include Abbott, Medtronic, F. Hoffmann-La Roche, Universal Biosensors, Thermo Fisher Scientific, Rapid Diagnostics Group of Companies, Entegrion, Inc., Helena Laboratories, Siemens Healthcare Private Limited, Sysmex Corporation and Danaher. In addition presence of small and local manufacturers across the countries will account for competiveness in Rapid Coagulation Testing Market.