Market For Hemostasis Diagnostics Is Anticipated To Expand At A CAGR Of Around 7% By 2031
Fact.MR – a market research and competitive intelligence provider, projects the global hemostasis diagnostics market to accelerate at a CAGR of above 7% across the 2021-2031 forecast period.
Hemostasis diagnostics are devices that help in the identification of hemostatic defects, which leads to excessive bleeding. Hemostasis is a process of slowing and stopping blood flow to initiate wound healing after a vascular injury, and is a key procedure acting at the first line of action adopted by the body.
During the process, blood changes its form from the fluid state to the gelatinous state. Hemostasis is maintained in the body via three mechanisms, namely, vasoconstriction, platelet plug formation, and blood coagulation. Diagnosis helps predict the cause of excessive bleeding during a surgery, and identifies hemostatic defects in patients with a history of excessive bleeding.
Increased occurrence of genetically inherited diseases is likely to fuel demand for hemostasis diagnostics. Increased prevalence of hemostasis disorders is also set to drive market expansion over the coming years.
Key Takeaways from Market Study
- Global hemostasis diagnostics market to top US$ 7.5 Bn by 2031.
- Laboratory systems projected to reach around US$ 940 Mn by 2031.
- Consumables projected to record around 5% CAGR over next 10 years.
- Market in Japan to record 3% CAGR over forecast period of 2021- 2031.
- China forecast to reach projected market size above US$ 800 Mn.
- Market in Canada projected to expand above 6% CAGR over next 10 years.
“Increasing demand for technological advancements in medical treatment, strong government support, and rising trend of laboratory automation have propelled demand for hemostasis diagnostics,” says a Fact.MR analyst.
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Market Categorization as Per Hemostasis Diagnostics Industry Research
- Laboratory Systems
- Point-of-Care Testing Systems
- Prothrombin Test Time (PT)
- Activated Partial Thromboplastin Time (APTT)
- Fibrinogen Degradation Products (FDP)
- Activated Clotting Time
- Platelet Aggregation Test
- D Dimer
- Hemostasis Diagnostics at Hospital and Clinics
- Hemostasis Diagnostics at Research Institutes
- Hemostasis Diagnostics at Independent Diagnostic Laboratories
Key manufacturers of hemostasis diagnostic products are engaged in regulatory approvals, manufacturing technologically advanced products, launching of new products, and acquisition & collaborative agreements with other companies. These strategies are likely to fuel overall growth of the market.
A few expansion strategies adopted by players are:
- In 2016, Siemens Healthineers launched Sysmex CS-2500, a new mid-volume coagulation analyzer, which enable labs to provide quality test results and achieve cost-effective method consolidation.
- In April 2017, Starch Medical Inc. expanded its hemostasis portfolio with the launch of SuperClot Hemostat in Europe.