Global Point-of-care Coagulation Testing Market - Increasing Geriatric Population to Boost Growth| Technavio
Technavio has published a new market research report on the global point-of-care coagulation testing market from 2018-2022. (Graphic: Business Wire)
The growing focus toward personalized medicine is a key trend, which is expected to impact the market. Determination of coagulation in blood is crucial to developing personalized medicine as it provides profiles of individual patients. Additionally, diagnosis and resolution of blood disorders such as VTE can be done through coagulation testing.
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In this report, Technavio analysts highlight the growing geriatric population as a key factor contributing to the growth of the global point-of-care coagulation testing market:
Growing geriatric population
The aging population is gradually increasing across the globe. In 2015, people above 65 years represented approximately 7%-8% of the global population. During the forecast period, the aging population is estimated to grow by 50%-55%. Approximately 1.2-1.4 billion people are expected to be above 65 by 2030.
According to a senior analyst at Technavio for in-vitro diagnostics research, “The prevalence of diseases such as lung diseases, cancer, and stroke is high among people above 65 years as aging increases the immune system’s susceptibility to infections. The reduced functioning of organs also increases the chances of acquiring infections. These infections lead to blood coagulation disorders, which are detected through blood coagulation testing. Thus, the demand for POC coagulation analyzers is high from the geriatric population.”
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Global point-of-care coagulation testing market
This market research report segments the global point-of-care coagulation testing market into the following applications (hospitals and clinics and home-care) and key regions (the Americas, APAC, and EMEA).
In 2017, the hospitals and clinics segment had a market share of more than 74%. The Americas was the leading region for the global point-of-care coagulation testing market in 2017, accounting for a market share of over 54% followed by EMEA and APAC. APAC will account for the maximum increase in its market shares over the forecast period, while the market share of the other two regions is expected to witness a slight dip.
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