The coagulation market is expected to grow from US$ 6,295.28 million in 2022 to US$ 10,853.28 million by 2030; it is anticipated to record a CAGR of 7.0% from 2022 to 2030.
Changing lifestyle habits and a growing geriatric population are among the major factors increasing the prevalence of blood disorders. Therefore, there is a growing demand for early diagnosis and treatment. Key players are taking several initiatives through various organic and inorganic strategies to enhance the quality of life of patient population.
- In July 2020, Sysmex Corporation launched the Automated Blood Coagulation Analyzers CN-6500/CN-3500 in Japan. The analyzer measures blood coagulation and platelet aggregation parameters, as well as thrombosis and hemostasis parameters.
- In April 2020, US-based Haemonetics Corporation acquired Enicor, a blood coagulation diagnostic system developer.
- In October 2021, Trivitron Healthcare launched a new line of coagulation analyzer products manufactured by Diagon Ltd in India.
- In June 2021, Trivitron Healthcare introduced NANO H5 and NANO H110, which help in monitoring diabetes, hemoglobin variations, and thalassemia.
- In February 2021, Siemens Healthineers and Sysmex Corporation renewed their agreement to supply, distribute, sell, and service hemostasis products across the world. The agreement also included an extension for multiple years. Further, Siemens Healthineers agreed to distribute Sysmex's automated blood coagulation analyzer, such as the CN-3000 and CN-6000.
- In July 2022, HORIBA Medical launched the latest Yumizen G800 and G1550 hemostasis analyzers, as well as a range of convenient ready-to-use reagents for common blood coagulation tests. With this expansion of its product line, HORIBA Medical now offers a comprehensive selection of hemostasis systems and advanced reagents for laboratories of all sizes and requirements.
Thus, the adoption of various organic and inorganic strategies by the key market players is expected to provide opportunities for the coagulation market growth during the forecast period.
Rising Prevalence of Cardiovascular Diseases drives the growth the Coagulation Market
Heart disease is one of the leading causes of hospitalization, death, and reduced physical performance due to conditions such as atrial fibrillation and stroke. It affects the hemostatic system, vascular system, and fluid dynamics of blood and causes arterial and venous thrombosis. Thrombosis is the leading cause of death and complications from cardiovascular disease. Blood vessels damaged by smoking and high blood pressure form cholesterol-rich plaques lining the blood vessels, which can rupture and cause platelets to clot. With coagulation disorders, there is a risk of myocardial infarction, stroke, and atherothrombotic events in the vascular beds. Heart failure (HF) is related to an increased risk of thromboembolism independent of the presence of atrial fibrillation (AF). Platelet activation and coagulation system abnormalities can increase the risk of serious thromboembolic events in patients suffering from HF.
According to the 2022 Heart Disease & Stroke Statistical Update Fact Sheet, ~119.1 million deaths due to CVDs and around 89.1 million and 68.2 million stroke and ischemic stroke cases, respectively, are recorded across the world in 2020. Per the National Center for Chronic Disease Prevention and Health Promotion, in 2023, the US reports ~877,500 deaths due to heart diseases every year. According to the American Heart Association, more than 130 million Americans are likely to acquire some form of CVD by 2035. As per ‘Global Burden of Disease Study 2019,’ CVDs were the leading cause of deaths in Asia Pacific in 2019, causing 10.8 million or 35% of the total fatalities.
A coagulation test helps prevent potential heart attack-causing blood clotting. A coagulation analyzer is used during coronary artery bypass surgery and angioplasty to monitor information on blood clotting status. Thus, the growing incidence of cardiovascular diseases bolsters the coagulation market growth.
The coagulation market is segmented on the basis of disease indication, type, offering, technology, end user, and geography. Based on disease indication, the coagulation market is segmented into vitamin K deficiency, liver disease, disseminated intravascular coagulation & pulmonary embolism, circulating anticoagulant development, hemophilia, von Willebrand's disease, and others. Based on type, the coagulation market is segmented into clinical laboratory analyzers and point-of-care testing analyzers. Clinical laboratory analyzers consist of controls & calibrators, assays & reagents, instruments/systems, coagulation factors, and others. Based on offering, the coagulation market is segmented into diagnosis and treatment. The diagnosis segment is further classified into prothrombin time testing, fibrinogen testing, activated clotting time testing, activated partial thromboplastin time testing, D-dimmer testing, platelets function testing, and others. The treatment segment is further classified into anti-fibrinolytic drugs, birth control pills, desmopressin & immunosuppressive medicines, vitamin K supplements, blood thinners, thrombin inhibitors or thrombolytics, replacement therapies, catheter-assisted thrombus removal, and others. Based on technology, the coagulation market is segmented into optical technology, mechanical technology, electrochemical technology, and others. Based on end user, the coagulation market is segmented into clinical laboratories, hospitals, and others.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. North America held the largest market share of the coagulation market. North America accounts for a significant market share owing to the growing incidences of blood disorders, increasing occurrence of cardiovascular diseases such as atrial fibrillation (AFib), and the presence of major market players engaged in new and existing product developments. The US holds the largest share of the coagulation market in North America. The burgeoning cases of blood disorders, growing prevalence of cardiovascular diseases, and government support for preventing blood disorders are anticipated to boost the North America coagulation market growth during the forecast period. As per the Canadian Task Force on Preventive Health Care, the incidence of AFib in Canada increases by 4.5% per year, with a lifetime risk of ~25% among people aged more than 40 years. Approximately 300,000 Canadians carry an inherited bleeding disorder gene. 1 in 10 of these people—at least 30,000 Canadians—have symptoms severe enough to require medical care. Many of them have not been properly diagnosed. Only 10,000 people with inherited bleeding disorders are registered in the Canadian network of comprehensive care clinics for inherited bleeding disorders. According to the Canadian Hemophilia Society, ~300,000 Canadians carry a gene for an inherited blood disorder. Thus, the rising number of cases of congenital blood disorders can be associated with the growth of the coagulation market in Canada.
American Heart Association (AHA), Centers for Disease Control and Prevention (CDC), European Union, and Canadian Task Force on Preventive Health Care are a few key primary and secondary sources referred to while preparing the report on the coagulation market.