POC Coagulation Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

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POC Coagulation Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2028

Status : January, 2023 | Medical Devices

Report Digest

Global POC Coagulation Testing Market: Snapshot

In the global POC coagulation testing market, healthcare businesses are producing analyzers that fulfill the quality control criteria set by central laboratories. They are honing their skills in the creation of point-of-care (POC) gadgets that provide quick results. With developments in POC coagulation testing technologies, patients can be guaranteed of lab-accurate PT/INR (Prothrombin Time/International Normalized Ratio) findings with the growing trend of self-monitoring. As a result, healthcare businesses in the global POC coagulation testing market are creating mobile portable devices that can assist patients who have underwent major operations better their results while also being convenient.

POC coagulation testing has several benefits for patients in terms of hemostatic treatment, both inside and outside of hospital settings. Market players in the global POC coagulation testing market are now working to expand the supply of POC devices for hospitals, since hospitals is estimated to have considerable  revenue share of all end-users in the landscape. As a result, POC devices aid healthcare workers in providing rapid and actionable findings during emergency situations in ICUs, coronary care units, and surgeries. As a result, healthcare firms in the global POC coagulation testing market are capitalizing on new opportunities by accelerating hemostasis management among patients in a variety of settings, including outpatient clinics, physician offices, pharmacies, and hospitals.

The rising frequency of coagulation among patients throughout the world has prompted producers of point-of-care coagulation testing equipment to develop better diagnostic analyzers. Latex agglutination and enzymatic immunoassays are increasingly being tested using automated analyzers. POC devices are becoming more and more common for the regular diagnosis of hemostasis diseases, thanks to technological improvements. As such, use of POC devices are rising in favor among patients, as they eliminate the inconvenience of higher expenditures and blood loss associated with traditional hemostasis control approaches.

The introduction of acoustic waves in miniaturized POC devices as well as infrared spectroscopy is two technical breakthroughs that players in the POC coagulation testing devices market are working on. Small POC devices are a new type of gadget that can work with a little amount of citrated whole blood and produce outcomes, which is likely to work in favor of the global POC coagulation testing market.

Global POC Coagulation Testing Market: Overview

Point of care coagulation or POC coagulation testing analyzers measures the prothrombin time. These are self-testing machines that are used by the patients at home to test their prothrombin levels. Prevalence of a broad range of blood disorders has led to the development of cardiovascular co-morbidities in patients. They are often prescribed anti-thrombotic drugs to prevent the onset of severe events such as a sudden increase in the level of blood coagulation. POC coagulation testing helps the patients to monitor such incidences and keep things in check. This testing is generally popular among patients suffering from cardiovascular disorders and those who undergo cardiovascular surgeries such as angioplasty and cardiac bypass among others.

Global POC Coagulation Testing Market: Notable Developments

Some of the key developments that have influenced the global POC coagulation testing market in recent years:

  • Recently, Siemens Healthcare AG launched a new product called Xprecia Stride Coagulation Analyzer. This product offers primary and urgent care and is highly reliable for the PT/INR testing for oral anticoagulation therapy. The company claims this POC coagulation testing device can deliver lab accuracy.
  • In August 2019, Siemens Healthcare AG announced that the company is well placed to acquire Corindus, a forerunner in the robotic-assisted vascular interventions. This takeover is strategically important for Siemens Healthcare to enhance its Advanced Therapies business including its foothold in the POC coagulation testing market. The overall value of the deal is expected to be around US$1.1 billion.
  • In February 2019, a key player in the global POC coagulation testing market, Danaher, announced that it has acquired the biopharma business of GE Life Sciences. The overall value of the deal is around US$21.4 billion. This acquisition is expected to significantly transform the strengths of Danaher in terms of its product development, research, and manufacturing0020workflows.

Global POC Coagulation Testing Market: Drivers and Restraints

There is a wide array of factors that are influencing a positive growth of the global POC coagulation testing market. Some of them are mentioned below:

  • Faster Results: The whole point of development of POC products is to reduce the turn-around time. It is especially important in cases of cardiovascular disorders. With these devices, patients get faster results and are better equipped to monitor their and act in case of any emergency. This is thus driving the uptake of the POC coagulation testing market.
  • Automatic data Uploading: Another important feature that is upscaling the popularity of the global POC coagulation testing market is the automatic uploading of data. Patients don’t have to worry about the manual login and entering the data (that has chances of errors).
  • Increasing demand: There has been a growing demand for such POC coagulation testing devices across the globe especially for pre-operative and post-operative screening. This is also fueling the growth of the market.

Global POC Coagulation Testing Market: Geographical Outlook

The global POC coagulation testing market is segmented into key areas such as North America, Asia Pacific, Latin America, the Middle East and Africa, and Europe. Of these, the global market is expected to be dominated by North America region in the coming years. This is because of the swift availability of latest products, highly developed healthcare infrastructure, and growing awareness among patients. The Asia Pacific segments are projected to show a considerable rate of growth during the forecast period due to the presence of developing economies that are working to strengthen their healthcare and pharma sector.

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