The point-of-care (POC) coagulation testing market share is expected to increase by USD 1.49 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 8.41%.
This point-of-care coagulation testing market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (hospitals and clinics and homecare) and geography (North America, Europe, Asia, and ROW). The point-of-care coagulation testing market report also offers information on several market vendors, including Abbott Laboratories, Danaher Corp., DIAGNOSTICA STAGO SAS, F. Hoffmann-La Roche Ltd., Helena Laboratories Corp., iLine Microsystems SL, Medtronic Plc, Micropoint Bioscience Inc., Siemens AG, and Sysmex Corp. among others.
What will the Point-of-Care Coagulation Testing Market Size be During the Forecast Period?
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Point-of-Care Coagulation Testing Market: Key Drivers and Trends
The growing geriatric population is notably driving the POC coagulation testing market growth, although factors such as lack of trained professionals may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the point-of-care coagulation testing industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Point-of-Care Coagulation Testing Market Driver
The growing geriatric population will fuel the growth of the point-of-care coagulation testing market size during the forecast period. Aging increases the susceptibility to infections as the immune system deteriorates with age. Older adults require diagnostic testing on a regular basis due to their low immunity and slow metabolism. These factors have increased the demand for point-of-care blood coagulation analyzers as coagulation measurements can assist in diagnosing diseases. Physicians use the results of these blood tests to choose the most suitable line of treatment. Hence, an increasing older adult population indicates a growing demand for point-of-care coagulation testing, thus contributing to the growth of the market during the forecast period.
Key Point-of-Care Coagulation Testing Market Challenge
The inability to hire trained professionals would limit the use of point-of-care coagulation analyzers, which may hinder the growth of the market during the forecast period. There is a shortage of these specialists in diagnostic centers and hospitals globally. Generally, most rural hospitals in the US face issues such as the lack of patient volume required to justify having specialists. Most times, appointing in-house specialists is cost-prohibitive, especially for small medical facilities. Therefore, end-users such as hospitals and diagnostic centers need to invest significantly in providing training to their employees for laboratory testing and maintaining point-of-care coagulation analyzers.
This point-of-care coagulation testing market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Who are the Major Point-of-Care Coagulation Testing Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Abbott Laboratories
- Danaher Corp.
- DIAGNOSTICA STAGO SAS
- F. Hoffmann-La Roche Ltd.
- Helena Laboratories Corp.
- iLine Microsystems SL
- Medtronic Plc
- Micropoint Bioscience Inc.
- Siemens AG
- Sysmex Corp.
This statistical study of the point-of-care coagulation testing market encompasses successful business strategies deployed by the key vendors. The POC coagulation testing market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The point-of-care coagulation testing market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Point-of-Care Coagulation Testing Market?
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46% of the market’s growth will originate from North America during the forecast period. The US is a key market for point-of-care coagulation testing in North America. However, the market growth rate in this region will be slower than the growth of the market in Asia and Europe.
The rise in laboratory automation, a shift toward rapid diagnostic tests, and the increased number of Food & Drug Administration (FDA) approvals for new diagnostic procedures such as liquid biopsy and microbial tests will facilitate the point-of-care coagulation testing market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating End-user Segments in the Point-of-Care Coagulation Testing Market?
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The point-of-care coagulation testing market share growth by the hospitals and clinics segment will be significant during the forecast period. Hospitals and clinics hold the largest share of the global point-of-care coagulation testing market, owing to the significant use of point-of-care coagulation testing analyzers during perioperative procedures for the timely determination of coagulopathies (bleeding disorders) and hemostatic functions in patients. This helps in preventing unanticipated bleeding and perioperative mortality. Hospitals and clinics use globally accepted point-of-care coagulation testing procedures such as aPTT and INR, which significantly reduce the turnaround time and allow medical practitioners to make fast decisions during critical situations.
This report provides an accurate prediction of the contribution of all the segments to the growth of the POC coagulation testing market size and actionable market insights on post COVID-19 impact on each segment.
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Point-of-Care Coagulation Testing Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 8.41% |
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Market growth 2021-2025 |
$ 1.49 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
6.97 |
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Regional analysis |
North America, Europe, Asia, and ROW |
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Performing market contribution |
North America at 46% |
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Key consumer countries |
US, UK, Germany, China, and Japan |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Abbott Laboratories, Danaher Corp., DIAGNOSTICA STAGO SAS, F. Hoffmann-La Roche Ltd., Helena Laboratories Corp., iLine Microsystems SL, Medtronic Plc, Micropoint Bioscience Inc., Siemens AG, and Sysmex Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Point-of-Care Coagulation Testing Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive point-of-care coagulation testing market growth during the next five years
- Precise estimation of the point-of-care coagulation testing market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the POC coagulation testing industry across North America, Europe, Asia, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of POC coagulation testing market vendors
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