Relative savings on the high cost of hospitalization, multiple waves of pandemic across the world, increasing cases of bleeding disorders and advancement in technology in the portable testing devices segment contribute as the primary drivers of growth of the Global Point-of-Care Coagulation Testing Devices Market.
Jersey City, New Jersey, May 12, 2021 (GLOBE NEWSWIRE) -- Verified Market Research recently published a report, “Point-of-Care Coagulation Testing Devices Market” By Device Type (Anticoagulation Monitoring Devices, Platelet Function Monitoring Devices, Viscoelastic Function Monitoring Devices, and Other Monitoring Devices), By End User (Hospitals and Clinics, Home Care and Others ), and By Geography. According to Verified Market Research, the Global Point-of-Care Coagulation Testing Devices Market was valued at USD 1.61 Billion in 2020 and is projected to reach USD 2.77 Billion by 2028, growing at a CAGR of 7.05% from 2021 to 2028.
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Global Point-of-Care Coagulation Testing Devices Market Overview
The growing demand for the Global Point-of-Care Coagulation Testing Devices Market, and consequently the growth of the entire market can be attributed to the increasing number of bleeding disorders cases around the globe. It is estimated that 1 in every 1000 people have a bleeding disorder, as of 2014. It was estimated that in 2018, Hemophilia affected 400,000 people globally, with an estimated presence of 1 in 5000 male births for Hemophilia A and 1 in 30000 births for Hemophilia B.
The significant advantages of Point-of-Care Coagulation devices against conventional lab testing further propel market growth. COVID-19 has resulted in the Global Point-of-Care Coagulation Testing Devices Market witness a sudden spike in its growth. This growth can be ascribed to various medical organizations prescribing Thombroelastography (TEG) testing for those affected by COVID 19. This is done to prevent the formation of blood clots, which can give rise to further complications.
Another growth driver is the savings one can manage on hospitalization expenses for home treatment of diseases like hemophilia when they use POCCT Devices instead of central laboratory testing. A cost of 300,000 to 500,000 is incurred by the patients of Hemophilia in the country which places a huge economic pressure. Moreover, the major players in the market are coming up with technologically improved products in a bid for people to improve the adoption of POCCT Devices in a homecare setting.
Key Developments in Point-of-Care Coagulation Testing Devices Market
• In April 2018, Roche - a Swiss multinational healthcare company, announced the launch of the CoaguChek® Vantus system, a self-testing device, enabled with the wireless reporting of INR results.
• HemoSonics, LLC, in March 2019, announced that its innovative Quantra Hemostasis Analyzer platform and its initial QPlus cartridge have been granted de novo marketing authorization by the FDA, and are now available for sale in the U.S.
• Coagulation Sciences LLC partnered with Enercon Technologies Inc. to be its contract manufacturing partner for its Multiple Coagulation Test System, in January 2018.
The major players in the market are F.Hoffman-La Roche Ltd., Siemens Healthineer AG, Abbott Laboratories, Medtronic plc, Sienco, Inc., Micropoint Bioscience, Inc., Hemosonics, LLC, Haemonetics Corporation, Koninklijke Philips N.V., Werfen among others.
Verified Market Research has segmented the Global Point-of-Care Coagulation Testing Devices Market On the basis of Device Type and End User and Geography.
Point-of-Care Coagulation Testing Devices Market by Device Type
Anticoagulation Monitoring Devices
Platelet Function Monitoring Devices
Viscoelastic Function Monitoring Devices
Other Monitoring Devices
Point-of-Care Coagulation Testing Devices Market by End User
Hospitals and Clinics
Point-of-Care Coagulation Testing Devices Market by Geography
Rest of Europe
Rest of Asia Pacific
Middle East & Africa
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