According to Transparency Market Research’s latest market report on the point-of-care coagulation testing devices market for the historical period of 2017–2018 and forecast period of 2019–2027, the incorporation of various analysis technologies into a single POC platform provides lucrative opportunities for the growth of the global point-of-care coagulation testing devices market during the forecast period.
Wilmington, Delaware, United States: According to Transparency Market Research’s latest market report on the point-of-care coagulation testing devices market for the historical period of 2017–2018 and forecast period of 2019–2027, the incorporation of various analysis technologies into a single POC platform provides lucrative opportunities for the growth of the global point-of-care coagulation testing devices market during the forecast period.
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In 2016, Abbott launched ‘i-STAT Alinity’, a next-generation, handheld coagulation testing system that analyzes various analytes and delivers results within two to 10 minutes.
Globally, revenue generated by the point-of-care coagulation testing devices market is estimated to be ~US$ 1.7 Bn in 2019.
The global point-of-care coagulation testing devices market is expected to expand at a CAGR of ~6%, in terms of value, between 2019 and 2027.
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Increase in Usage of POCT in Developed Countries: A Key Driver
Various point-of-care assays are available for a number of coagulation tests. These assays are easy to perform and have a faster turnaround time than their laboratory counterparts. Portability, easy usage, and connectivity are the factors driving the demand for POC testing.
Immediate results of coagulation testing are needed to control the adverse effects of anticoagulation therapy; this is met by POC tests. The self-testing of prothrombin by patients at home is popular in several developed countries. It provides accurate and quick results. This is projected to boost the growth of the global point-of-care coagulation testing devices market during the forecast period.
North America and Europe are likely to grab the attention of all the vendors in the global point-of-care coagulation testing devices market. Based on revenue, these regions hold the top spot, owing to availability of low-cost devices, increase in chronic diseases, and increase in popularity of portable testing equipment.
In the North America point-of-care coagulation testing devices market, the U.S accounted for ~65% share, due to the rise in cases of chronic diseases and increasing uptake of early disease detection procedures.
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Rapid Expansion of Tests and Surge in Usage of Anticoagulant Therapy: The Latest Trend
Point-of-care coagulation testing is majorly performed at the patient’s site. It provides rapid results of tests such as PT/INR, partial thromboplastin, and activated partial thromboplastin, as compared to other laboratory testing techniques.
In addition, point-of-care offers an immediate and convenient patient diagnosis option. The PT/INR test is primarily used to measure the blood clotting time of the patients. Activated partial thromboplastin time (also known as kaolin cephalin clotting time) is also used to measure the coagulation cascade, i.e. blood clotting time of the individual. The only difference between PT/INR, PTT, and APTT is the addition of an activator in the activated partial thromboplastin time in order to speed up the blood clotting time and results. For example, the average range for PTT clotting time is 60 to 70 seconds, while APTT clotting time is approximately 30 to 40 seconds.
Anticoagulant therapy includes various conventional as well as new oral rapid-acting drugs used by patients to treat conditions such as deep vein thrombosis, pulmonary embolism, and genetic clotting disorders. The treatment needs to be monitored regularly and is usually recorded in the anticoagulant therapy record book.
Rise in Prevalence of Blood Clotting Disorders and Surge in Usage of Anticoagulant Therapy to Propel Market
Bleeding easily when bruised is called abnormal bleeding. It can be due to disorders in the blood clotting system, blood vessels, or platelets. This ever-increasing disease burden of blood clotting disorders is expected to drive the point-of-care coagulation testing devices market during the forecast period. According to CDC, around 900,000 people could be affected in the U.S. each year by venous thromboembolism. It is suggested that 60,000 to 100,000 people in the country succumb to this disease each year.
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Point-of-Care Coagulation Testing Devices Market: Competitive Landscape
Detailed profiles of manufacturers and distributors in the point-of-care coagulation testing devices market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.
Key companies operating in the point-of-care coagulation testing devices market are acquiring parallel companies to strengthen their market position in the global point-of-care coagulation testing devices market. For instance, in April 2017, Abbott acquired Alere, and this acquisition strengthened Abbott’s position in the point-of-care testing segment.
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.
- Koninklijke Philips N.V.
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