Coagulation Analyzer Global Market Report 2024

The coagulation analyzer market size has grown strongly in recent years. It will grow from $2.96 billion in 2023 to $3.18 billion in 2024 at a compound annual growth rate (CAGR) of 7.3%. The growth observed in the historical period can be attributed to several factors. These include the increasing aging population, a rise in chronic diseases prevalent among various age groups, a notable increase in surgical procedures being performed, the demand for monitoring anticoagulant therapies, and a higher incidence rate of conditions such as hemophilia.

The coagulation analyzer market size is expected to see strong growth in the next few years. It will grow to $4.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. Anticipated growth in the forecast period is driven by several factors. These include the increasing adoption of point-of-care testing (POCT), a rising demand for home-based monitoring solutions, the integration of connectivity solutions enhancing accessibility, a growing emphasis on personalized medicine, and the global expansion of hemostasis management programs. Key trends expected in this period encompass technological innovations focusing on assay design, advancements in technology for improved functionality, emphasis on miniaturization and portability of devices, the development of multiplex assays for comprehensive testing, and collaborative efforts in research and development initiatives.

The anticipated increase in the prevalence of leukemia is set to drive the growth of the coagulation analyzer market. Leukemia, a form of blood cancer characterized by the rapid proliferation of abnormal blood cells, impacts the body's ability to combat infections, affecting the lymphatic system and bone marrow. Coagulation analyzers play a crucial role in assisting leukemia patients by testing for disseminated intravascular coagulation (DIC), evaluating factors such as prolonged PT, low fibrinogen levels, platelet counts, and elevated D-dimer levels. Notably, in January 2023, the American Cancer Society reported a total of 59,610 new cases of leukemia and 23,710 leukemia-related deaths. Additionally, GLOBOCAN, an online cancer statistics database, indicated 474,519 new cases of leukemia globally in 2020. This surge in leukemia cases underscores the significant contribution to the growth of the coagulation analyzer market.

The heightened incidence of cardiac diseases is poised to fuel the expansion of the coagulation analyzer market. Cardiac diseases encompass various conditions affecting the heart and blood vessels, and coagulation analyzers play a crucial role in managing these diseases. These analyzers assist in assessing blood clotting parameters, guiding anticoagulant therapy, and preventing complications, thereby contributing to effective treatment and care. As of May 2023, according to the Centers for Disease Control and Prevention Highlights, coronary heart disease alone was estimated to be responsible for 375,476 deaths in 2021. This increased incidence of cardiac diseases stands as a driving force behind the growth of the coagulation analyzer market.

A prominent trend in the coagulation analyzer market is the increasing focus on product innovations, with major companies actively developing advanced solutions to maintain their market positions. An illustrative example is Charles River Laboratories International, Inc., a US-based non-clinical contract research organization, which introduced the Endosafe Nexus 200 in December 2022. Positioned as a valuable addition to its comprehensive endotoxin testing line, the Nexus 200 is a fully robotic instrument known for its data integrity compliance. Utilizing Endosafe Limulus Amebocyte Lysate (LAL) cartridge technology, the Nexus 200 is designed for handling simple or complex serial dilutions for water, in-process, and final product testing. Equipped with Endosafe EndoScan-V version 6.1, the system enables data exportation into a Laboratory Information Management System (LIMS) interface, providing enhanced traceability, security, and integrated touch screen data management.

Major companies in the coagulation analyzer market are strategically embracing partnerships to elevate clinical decision-making and expand patient management in the Indian diagnostics market. Strategic partnerships involve leveraging complementary strengths and resources to achieve mutual benefits and success. A noteworthy instance is the collaboration between Trivitron Healthcare, an India-based medical devices company, and Diagon-Vanguard Diagnostics India, a joint venture between Diagon Ltd. and Vanguard Diagnostics Pvt. Ltd., an India-based diagnostics company. This partnership, established in October 2021, aims to introduce a new line of Coagulation Analyzer products in India and enhance the COAG hemostasis systems line by providing scalable and automated solutions for hospitals and reference laboratories. This strategic partnership approach demonstrates a commitment to fostering innovation and expanding market reach in the coagulation analyzer segment.

In February 2021, Siemens Healthineers, a leading provider of healthcare solutions based in Germany, initiated a collaboration with Sysmex Corporation for an undisclosed investment. This strategic partnership revolves around Siemens Healthineers assuming the future distribution rights of Sysmex's CN-Series automated blood coagulation analyzers – specifically, the CN-3000 and CN-6000 models. The objective of this collaboration is to introduce advanced, fully automated solutions tailored for mid- and high-volume coagulation testing within laboratory settings. Sysmex Corporation, a Japan-based company deeply involved in the healthcare sector, specializes in the development, manufacturing, and sale of laboratory testing reagents and equipment. This collaboration between Siemens Healthineers and Sysmex Corporation aims to enhance laboratory capabilities by offering cutting-edge automated solutions for efficient coagulation testing, catering to mid- to high-volume testing needs.

Major companies operating in the coagulation analyzer market report are Siemens AG, F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Medtronic plc, Beckman Coulter Inc., Sysmex Corporation, Werfen S.A., Nihon Kohden Corporation, Instrumentation Laboratory Company, ARKRAY Inc., Maccura Biotechnology Co. Ltd., Beijing Succeeder Technology Inc., Helena Laboratories Corporation, Diagnostica Stago SAS, Trivitron Healthcare Pvt. Ltd., A&T corporation, ACON Laboratories Inc., Genrui Biotech Inc., Teco Medical Instruments, Eurolyser Diagnostica GmbH, Bio Group Medical System, LAbor BioMedical Technologies GmbH, Alere Inc., AGD Biomedicals Pvt Ltd, VSI Electronics Private Limited, Micro Lab Instruments, Meril Life Science Pvt. Ltd., Jinan Kinghawk Technology Co. Ltd, Bioevopeak Co. Ltd.

North America was the largest region in the coagulation analyzer market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the coagulation analyzer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the coagulation analyzer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The principal product categories of coagulation analyzers comprise semi-automated coagulation analyzers, automated coagulation analyzers, manual analyzers, and other specialized variants. Semi-automated coagulation analyzers serve as essential medical diagnostic tools for assessing various components present in human blood. These analyzers facilitate multiple test types, including prothrombin time testing, fibrinogen testing, activated partial thromboplastin time testing, d-dimer testing, platelet function testing, anti-factor Xa testing, among others. These tests utilize diverse technologies such as optical, mechanical, electrochemical, and other advanced methodologies. Coagulation analyzers cater to a range of end-users, including hospitals, clinics, diagnostic centers, and other medical facilities where the accurate assessment of blood coagulation is crucial for diagnosis and treatment purposes.

The coagulation analyzer market research report is one of a series of new reports that provides coagulation analyzer market statistics, including coagulation analyzer industry global market size, regional shares, competitors with a coagulation analyzer market share, detailed coagulation analyzer market segments, market trends, and opportunities, and any further data you may need to thrive in the coagulation analyzer industry. This coagulation analyzer market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The coagulation analyzer market consists of sales of hematology coagulation analyzers, standalone coagulation analyzers, and portable analyzers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.