Coagulation analyzer is a system used to measure coagulation studies such as APTT (Activated Partial Thromboplastin Time), PT (Prothrombin Time), TT (Thrombin Time), and D-Dimer test in a fast and simple way. These analyzers could provide diagnostic prevention from heart attack including blood clots by measuring various biomarkers present in the blood. Manufacturers are focusing on developing innovative diagnostic tools to improve the speed of diagnosis for patients suffering from various diseases, mostly in the emergency departments, which in turn would benefit patients to start their treatments much earlier and prevent further risks associated with these conditions. Thus, reduction in turnaround time facilitated by coagulation analyzers is expected to have a significant impact on growth of the market.
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The global coagulation analyzers market was valued at US$ 2,421.96 million in 2016 and is expected to exhibit a CAGR of 9.7% over the forecast period (2017–2025)
Rising prevalence of heart diseases such as atrial fibrillation and blood disorders is expected to augment the market growth
Increasing cases of heart diseases and blood disorders is expected to lead to increasing demand for coagulation analyzers. According to the Centre for Disease Control and Prevention, in 2017, heart arrhythmia such as atrial fibrillation affected 2.7– 6.1 million population in the U.S. and this number is expected to increase with increasing geriatric population. This population is at higher risk for blood clots including those that cause ischemic stroke. So, increasing geriatric population has also escalated demand for coagulation testing that facilitates rapid interventions, which is expected to help in optimizing patient therapy.
Reduction in the size of coagulation analyzers has led to increasing adoption of these in ambulatory surgical centers. This is owing to its small size, which can fit almost anywhere in the operating unit and offers same results in less turnaround time, making it hassle free and feasible for the operators. Easy operating and functionality of these devices have also made it convenient for patients to be used at homes, in order to measure their coagulation status. For instance, in May 2016, Hoffmann-La Roche Ltd. launched CoaguChek INRange system, in countries accepting the CE Mark. This system is a Bluetooth enabled PT/INR home health device that helps healthcare providers and patients to check their coagulation status and monitor Vitamin K Antagonist (VKA) therapy.
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Manufacturers are focusing on new product launches strategy, which is a prominent factor fueling the market growth
Manufacturers in various regions are focusing on enhancing their market share by creating awareness about its products through various events and introducing new products, along with existing range. In November 2016, Alere supported the Point-of-Care Day event, in which clinicians from across Latin America gathered in Sao Paulo, Brazil to showcase the benefits and best practices in point-of-care testing and encourage its use. Competitors in the coagulation analyzers market are also focused on new product development to enhance its product offerings and market share. For instance, in August 2016, Instrumentation Laboratory commercialized a new prothrombin reagent-HemosIL ReadiPlasTin, in order to expand the company’s broad portfolio of liquid, ready-to-use reagents to help laboratories achieve greater efficiency, while improving patient care.
Some of the key players in coagulation analyzers market are Siemens AG, Thermo Fisher Scientific Inc., Hoffmann-La Roche Ltd., Instrumentation Laboratory, Sysmex Corporation, Beckman Coulter, Inc. (Danaher), Diamond Diagnostics, International Technidyne Corporation, Nihon Kohden Corporation, and Alere Inc.
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