Coagulation Analyzer Market Size, Share & Trends Analysis Report By Product, By Technology (Mechanical, Electrochemical) By Test Types (APTT, D-Dimer, Fibrinogen, PT) By End Use (Hospitals, Research Institutes), And Segment Forecasts, 2018 - 2024

Industry Insights

The global coagulation analyzer market size was valued at USD 3.3 billion in 2015 and is expected to grow at a CAGR of 10.2% over the forecast period. The rising demand for coagulation analyzers is anticipated due to the increasing population base suffering from lifestyle-associated diseases, and chronic blood disorders. Furthermore, increasing awareness about these conditions is expected to improve the diagnostic rate and preventive care management, which is predicted to substantially increase the testing volume. 

The developing countries under study are currently undergoing a paradigm shift and are investing huge amounts of government funds to procure and install such medical devices into their public healthcare facilities. Increasing the geriatric population base, rising prevalence of chronic diseases, and rapid growth in foreign investments are expected to be witnessed over the forecast period in the developing nations of the Middle East and Asia Pacific region.

Coagulation Analyzer market by region, 2015 & 2024

Furthermore, the occurrence of hemophilia according to reports published by the WHO is another factor promoting the industry growth and resulting in the rising base of medical device installation and expansion of healthcare facilities.

Product Insights

Analyzers retained a dominant share of the total revenue in 2015 and are expected to grow at a lucrative CAGR over the forecast period. Factors promoting this lucrative growth are anticipated to be developing healthcare infrastructure, rising healthcare spending coupled with increasing incidences of lifestyle-related conditions such as obesity, diabetes, and cardiovascular disorders. Special emphasis on providing quality and timely care to patients is expected to propel the growth of the diagnostic market, which in turn is anticipated to cause a hike in demand for hemostasis analyzers.

The clinical laboratory segment held the largest share in 2015. Clinical laboratory analyzers are predominantly used in hospitals for the hematological analysis of patients on a daily basis.

Coagulation Analyzer Market by Product, 2015

Consumables held over 65.0% of the share and are further segmented into reagents and stains. All tests require the presence of reagents and hence large inventory or repeated orders of these products are placed by hospitals, leading to higher demand. The increasing volume of testing and development of new assays is expected to boost sales of these consumables.

Technology Insights

Optical technology is predicted to gain the highest share over the forecast period. This growth is anticipated due to the rising combination of immunological, and chromogenic with photo-optical techniques which have led to the development of high-performance, multipurpose optical hemostasis analyzers.

Optical technology is further sub-segmented into photo-optical/chromogenic/immunological, and others. The others segment includes patented technologies of industry players such as Instrumentation Laboratory, Beckman Coulter Inc., and Siemens Healthcare.

Test Type Insights

In terms of test type, the prothrombin segment was estimated to account for the largest share in the region followed by APTT test based in 2015. The APTT test is estimated to account for the second-largest share in the hemostasis analyzer market by test type in 2015.

The APTT test is majorly used for detecting coagulation inhibitors, Disseminated Intravascular Coagulation (DIC), liver diseases, acquired and inherited abnormalities of the intrinsic coagulation pathway, and monitoring of heparin therapy. The test may be carried out using different principles such as photo-optical and electrochemical.

End-Use Insights

Rapid expansion in hospitals and primary healthcare centers is expected to be a high-impact rendering driver. In addition, favorable government initiatives to improve the healthcare delivery are expected to help future growth. Furthermore, the availability of advanced equipment, which has higher accuracy and features to perform multiple tests, is another vital driver for the growth.

Global Coagulation Analyzers & Reagents Market, by End-Use, 2013-2024

The end-users of hemostatic analyzers include hospitals, diagnostic centers, research institutes, and others. Diagnostic centers dominated the end-use segment in 2014, owing to the prevailing trend of outsourcing the hemostasis tests to diagnostic centers. However, hospitals are expected to witness lucrative growth over the forecast period due to the rapid expansion of hospitals coupled with the availability of analyzers and consumables based on hospital needs.

Regional Insights

North America dominates the coagulation analyzers market and is expected to contribute over 35.0% of the revenue share. Favorable healthcare resources coupled with the increasing prevalence of cardiometabolic disorders such as Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE) helped the growth of the market.

The Middle East and Africa region are anticipated to witness a lucrative growth rate owing to adequate hospitals, health centers, and clinics backed by skilled healthcare staff equipped to provide safe and effective healthcare. The National Health Plan 2010-2014 focused on a major expansion of the health sector. Moreover, in 2012, the Ministry of Health and Ministry of Public Works announced USD 4.4 billion to expand or replace nine operating hospitals within the next ten years.

Coagulation Analyzer Market Share Insights

Some of the key players in this industry include Siemens Healthcare, Roche Diagnostics, and Instrumentation Laboratory. The players are mostly present in the international space, and due to easy global accessibility, they are competing directly to gain a bigger share.

For the distribution of these products, currently the majority of the players make use of third-party vendors. For instance, Sysmex entered into a distribution agreement with Dade Behring, which is now a part of Siemens Healthcare Diagnostics. However, this trend is predicted to change over the forecast period owing to the increasing investment by players to establish their distribution offices within the region. Owing to this, direct supply agreements will gain momentum over the forecast period.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis of the industry trends in each of the sub-segments from 2013 to 2024. For the purpose of this study, Grand View Research has segmented the global coagulation analyzers market on the basis of product, technology, test type, end-use, and region:

• Product Outlook (Revenue, USD Million, 2013 - 2024)

  • Analyzers

  • Clinical Laboratory Analyzers

  • Point of Care Analyzers   

  • Consumables

  • Reagents

  • Stains

• Technology Outlook (Revenue, USD Million, 2013 - 2024)

  • Mechanical

  • Electrochemical

  • Optical

  • Photo-optical/Chromogenic/Immuno

  • Others/Nephelometric

  • Others

• Test Type Outlook (Revenue, USD Million, 2013 - 2024)

  • APTT

  • D-Dimer

  • Fibrinogen

  • Prothrombin

  • Others

• End-Use Outlook (Revenue, USD Million, 2013 - 2024)

  • Hospitals

  • Research Institutes

  • Diagnostic Centers

  • Others

• Regional Outlook (Revenue, USD Million, 2013 - 2024)

  • North America

    • The U.S.

    • Canada

  • Europe

    • The U.K.

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • MEA

    • South Africa