The coagulation market is projected to expand from US$ 6,295.28 million in 2022 to US$ 10,853.28 million by 2030, reflecting a compound annual growth rate (CAGR) of 7.0% during the period from 2022 to 2030.
Shifts in lifestyle choices and an increasing elderly population are significant contributors to the rising incidence of blood disorders. This trend has led to a heightened demand for prompt diagnosis and effective treatment. Major industry players are implementing various organic and inorganic strategies aimed at improving the quality of life for patients.
- In July 2020, Sysmex Corporation introduced the Automated Blood Coagulation Analyzers CN-6500/CN-3500 in Japan, designed to assess blood coagulation and platelet aggregation, along with thrombosis and hemostasis parameters.
- In April 2020, Haemonetics Corporation, based in the US, acquired Enicor, a developer of blood coagulation diagnostic systems.
- In October 2021, Trivitron Healthcare unveiled a new series of coagulation analyzers produced by Diagon Ltd in India.
- In June 2021, Trivitron Healthcare launched the NANO H5 and NANO H110, which assist in monitoring diabetes, hemoglobin levels, and thalassemia.
- In February 2021, Siemens Healthineers and Sysmex Corporation renewed their global agreement for the supply, distribution, sale, and servicing of hemostasis products, extending the partnership for several years. Siemens Healthineers also committed to distributing Sysmex's automated blood coagulation analyzers, including the CN-3000 and CN-6000.
- In July 2022, HORIBA Medical released the Yumizen G800 and G1550 hemostasis analyzers, along with a variety of ready-to-use reagents for standard blood coagulation tests. This expansion enhances HORIBA Medical's offerings, providing a wide range of hemostasis systems and advanced reagents suitable for laboratories of varying sizes and needs.
Consequently, the implementation of diverse organic and inorganic strategies by leading market players is anticipated to create growth opportunities for the coagulation market throughout the forecast period.
Increasing Incidence of Cardiovascular Diseases Fuels Coagulation Market Growth
Cardiovascular disease (CVD) ranks among the top causes of hospitalization, mortality, and diminished physical capability, often resulting from conditions like atrial fibrillation and stroke. These conditions impact the hemostatic and vascular systems, as well as blood fluid dynamics, leading to arterial and venous thrombosis. Thrombosis is a primary contributor to mortality and complications associated with cardiovascular diseases. Factors such as smoking and hypertension can damage blood vessels, leading to the formation of cholesterol-rich plaques that may rupture and trigger platelet aggregation. Coagulation disorders elevate the risk of myocardial infarction, stroke, and atherothrombotic events in vascular systems. Heart failure (HF) is also linked to a heightened risk of thromboembolism, regardless of atrial fibrillation presence. Abnormalities in platelet activation and the coagulation system can significantly increase the likelihood of serious thromboembolic incidents in HF patients.
The 2022 Heart Disease & Stroke Statistical Update Fact Sheet reported approximately 119.1 million deaths due to CVDs globally, with around 89.1 million and 68.2 million cases of stroke and ischemic stroke, respectively, recorded in 2020. According to the National Center for Chronic Disease Prevention and Health Promotion, the US sees about 877,500 annual deaths attributed to heart diseases as of 2023. The American Heart Association forecasts that over 130 million Americans may develop some form of CVD by 2035. The 'Global Burden of Disease Study 2019' indicated that CVDs were the leading cause of death in the Asia Pacific region in 2019, accounting for 10.8 million fatalities, or 35% of total deaths.
Coagulation testing plays a crucial role in preventing blood clotting that could lead to heart attacks. Coagulation analyzers are utilized during procedures like coronary artery bypass surgery and angioplasty to monitor blood clotting status. Therefore, the rising prevalence of cardiovascular diseases significantly supports the growth of the coagulation market.
The coagulation market is categorized based on disease indication, type, offering, technology, end user, and geography. In terms of disease indication, it includes vitamin K deficiency, liver disease, disseminated intravascular coagulation, pulmonary embolism, circulating anticoagulant development, hemophilia, von Willebrand's disease, and others. The market is divided into clinical laboratory analyzers and point-of-care testing analyzers based on type. Clinical laboratory analyzers encompass controls & calibrators, assays & reagents, instruments/systems, coagulation factors, and more. The offerings are classified into diagnosis and treatment, with the diagnosis segment further divided into prothrombin time testing, fibrinogen testing, activated clotting time testing, activated partial thromboplastin time testing, D-dimer testing, platelet function testing, and others. The treatment segment includes anti-fibrinolytic drugs, contraceptives, desmopressin & immunosuppressive medications, vitamin K supplements, blood thinners, thrombin inhibitors or thrombolytics, replacement therapies, catheter-assisted thrombus removal, and others. The technology segment includes optical, mechanical, electrochemical technologies, and others. The end user segment comprises clinical laboratories, hospitals, and others.
Geographically, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America holds the largest share of the coagulation market, driven by the increasing incidence of blood disorders, the rising prevalence of cardiovascular diseases such as atrial fibrillation (AFib), and the presence of major market players involved in product development. The US dominates the North American coagulation market. The growing number of blood disorder cases, the increasing prevalence of cardiovascular diseases, and government initiatives aimed at preventing blood disorders are expected to propel the growth of the coagulation market in North America during the forecast period. According to the Canadian Task Force on Preventive Health Care, the incidence of AFib in Canada rises by 4.5% annually, with a lifetime risk of approximately 25% for individuals over 40. Around 300,000 Canadians carry a gene for an inherited bleeding disorder, with at least 30,000 experiencing symptoms severe enough to require medical attention. However, many remain undiagnosed. Only 10,000 individuals with inherited bleeding disorders are registered in the Canadian network of comprehensive care clinics. The Canadian Hemophilia Society estimates that about 300,000 Canadians carry a gene for an inherited blood disorder. Thus, the increasing prevalence of congenital blood disorders is likely to contribute to the growth of the coagulation market in Canada.
Key primary and secondary sources utilized in the preparation of the report on the coagulation market include the American Heart Association (AHA), the Centers for Disease Control and Prevention (CDC), the European Union, and the Canadian Task Force on Preventive Health Care.