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Platelet Aggregation Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 110 Pages
  • August 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4622776
The platelet aggregation devices market was valued at USD 522.76 million in 2021 and is expected to grow at a CAGR of 6.33% during the forecast period. The major factors attributing to the growth of the platelet aggregation devices market are the rising burden of chronic diseases, the increasing geriatric population, and technological advancements in platelet aggregometer.

The outbreak of COVID-19 worldwide is also expected to have a positive impact on the market, and there is strong evidence that SARS-CoV-2 infection is associated with atherothrombotic phenomena. An article published in July 2021 titled “Platelets in the perspective of COVID-19; pathophysiology of thrombocytopenia and its implication as a prognostic and therapeutic opportunity” mentioned that the incidence of thrombocytopenia is a critical occurrence in SARS-CoV-2 infection which not only may exacerbate the respiratory symptoms but also increase the risk of mortality and it is a Prognostic factor associated with platelets in COVID-19. The increasing research related to the platelet aggregation process on human platelet cells involved in Covid-19 is expected to drive the platelet aggregation devices market in the coming years.

The platelet aggregation devices are meant to treat various cardiovascular diseases and bleeding disorders, but the COVID-19 pandemic is expected to affect the treatment for these diseases and the supply chain of the devices across the world.

There is an increasing incidence of heart problems, such as stroke and coronary heart disease, which cause a global burden of cardiac deaths that has driven the growth of the platelet aggregation devices market. For instance, according to the American Heart Association Research Report 2018, cardiovascular disease is listed as the underlying cause of death, and it accounts for nearly 836,546 deaths in the United States. This is nearly 1 out of every three deaths in the country. About 2,300 Americans die of cardiovascular disease each day, which is an average of 1 death every 38 seconds. The significant increase in the number of people suffering from cardiovascular diseases ultimately increases the use of platelet aggregation devices to study platelet aggregation worldwide and may drive the market over the forecast period.

Traditional light transmission aggregometry (LTA) remains the most useful technique for diagnosing platelet defects. Additionally, LTA requires a large sample volume and analytical variables affect the LTA results. Therefore, all these factors in traditional aggregometry have spurred the development and advancement of aggregometry techniques, which are widely being adopted in the current market. Hence, all these advancements are found to improve the adoption rate and help in the market growth.

Moreover, the commercial development of new technologies used in treatment, research and development, and diagnosis depends on skilled technicians who would be able to standardize, use, and adopt the techniques. The advancements in any methodology require skilled technicians. Thus, owing to the dearth of skilled professionals to handle new technologies or devices, the market is expected to witness hindrances in terms of growth over the forecast period.

Key Market Trends

The Systems Segment is Expected to Witness Growth Over the Forecast Period

The platelet aggregation system or aggregometer is used to determine how well the platelets stick together. Such systems measure platelet aggregation with the use of a platelet antagonist, such as ADP, thrombin, and ristocetin. Aggregation systems are likely to grow over the forecast period due to factors such as continuous technological advances in the field of platelet aggregation devices, the escalation of trends in platelet aggregation testing methods, growing adoption, and market preference for automated systems among diagnostic laboratories, and growing advantages offered by point-of-care testing analyzers, as compared to conventional instruments.

The growing burden of bleeding disorders is expected to increase the demand for platelet aggregation systems, as these are used to diagnose bleeding disorders. As per the data provided by Genetic Home Reference, the incidence of immune thrombocytopenia was estimated at 4 per 100,000 in children and 3 per 100,000 in adults across the globe in 2020. The need for platelet aggregation systems is increasing in academic and pharmaceutical companies due to the increase in research studies, mainly to know the mechanisms involved in the interaction of platelets with vascular surfaces and evaluation and screening anti-thrombotic factors to know new targets for antiplatelet drugs.

Furthermore, the companies are also taking initiatives to develop their products and expand their presence in the market. For instance, in May 2019, Haemonetics Corporation received approval from the United States Food and Drug Administration for TEG 6s Hemostasis System, a coagulation analyzer. It is used for screening blood hemostasis. Hence, owing to the above-mentioned factors, the market in this segment is expected to grow over the forecast period.

North America is Expected to Hold the Largest Share in the Market

The North American region holds the largest market share due to the strong presence of device manufacturers, due to the increasing number of target disorders, increasing geriatric population, technological advancements in platelet aggregometer, and rising awareness among healthcare professionals regarding the benefits offered by platelet aggregation testing in disease diagnosis. Also, the rising research and development expenses in this country may boost the market growth.

The country is also witnessing a greater impact of COVID-19, affecting many markets, including the market studied. The market studied was largely impacted at the beginning of the year due to the cancellation of diagnostic procedures. However, there is a recent positive trend, as the studies of the effect of COVID-19 on platelet aggregation are booming throughout the country, and the demand for the devices is rising compared to the beginning of the year.

According to the Centers for Disease Control and Prevention 2019, hemophilia A is found to affect 1 in 5,000 male births. About 400 babies are born with hemophilia each year. The median age at diagnosis is 36 months for people with mild hemophilia, eight months for those with moderate hemophilia, and one month for those with severe hemophilia.

As per the National Hemophilia Foundation 2019, around 20,000 individuals are found to be affected by hemophilia disorder in the United States. Thus, it is evident that bleeding disorders are on the rise in this country. Therefore, platelet aggregation testing is found to be very beneficial in disease diagnosis. Factors such as the rising number of surgical procedures in this country, a large number of the population undergoing cardiovascular surgeries, increasing prevalence of orthopedic, bleeding, and urological disorders are creating high growth opportunities for the market players in the United States.

Competitive Landscape

The market studied is moderately competitive and there are several companies that are operating in this market. The novel launches and recent developments are found to be the key strategies adopted by the key players to develop their positions in the platelet aggregation devices market. The global players in the market are Aggredyne Inc., Bio/Data Corporation, Chrono-Log Corporation, F. Hoffmann-La Roche Ltd, Haemonetics Corporation, Siemens Healthcare GmbH, and Werfen, among others.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Incidence of Chronic Diseases
4.2.2 Increasing Geriatric Population
4.2.3 Technological Advancements in Platelet Aggregometers
4.3 Market Restraints
4.3.1 High Cost of Devices and Shortage of Skilled Personnel
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Product
5.1.1 Systems
5.1.2 Reagents
5.1.3 Consumables and Accessories
5.2 By Application
5.2.1 Clinical Applications
5.2.2 Research Applications
5.3 By End User
5.3.1 Hospitals
5.3.2 Diagnostic Laboratories
5.3.3 Other End Users
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 AggreDyne, Inc.
6.1.2 Bio/Data Corporation
6.1.3 Chrono-Log Corporation
6.1.4 F. Hoffmann-La Roche Ltd
6.1.5 Haemonetics Corporation
6.1.6 Siemens Healthcare GmbH
6.1.7 Werfen
6.1.8 Sysmex Corporation
6.1.9 Sienco, Inc.
6.1.10 Drucker Diagnostics
6.1.11 Heamochrom Diagnostica GmbH
6.1.12 Grifols, S.A.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • AggreDyne, Inc.
  • Bio/Data Corporation
  • Chrono-Log Corporation
  • F. Hoffmann-La Roche Ltd
  • Haemonetics Corporation
  • Siemens Healthcare GmbH
  • Werfen
  • Sysmex Corporation
  • Sienco, Inc.
  • Drucker Diagnostics
  • Heamochrom Diagnostica GmbH
  • Grifols, S.A.