The global hemostasis testing systems market share is estimated to clock a revenue of USD 3,666 million by 2033. Our healthcare industry experts opine that hemostasis testing systems providers can expect a CAGR of 5.5% through 2033, with a present valuation of USD 2,149.3 million in 2023.
Key Market Highlights
| Attributes | Details |
|---|---|
| Hemostasis Testing Systems Market Size, 2023 | USD 2,149.3 million |
| Hemostasis Testing Systems Market Size, 2033 | USD 3,666 million |
| Value CAGR (2023 to 2033) | 5.5% |
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The hemostasis testing systems industry displayed market growth of 3.5% CAGR in the historical period. Over the projected period, the market is anticipated to expand at a CAGR of 5.5% CAGR, driven by the increasing efficiencies in the hemostasis testing systems.
| Attributes | Details |
|---|---|
| Hemostasis Testing Systems Market Size (2018) | USD 1,792.21 million |
| Hemostasis Testing Systems Market Size (2022) | USD 2,059.6 million |
| Hemostasis Testing Systems Market (CAGR 2018 to 2022) | 3.5% |
Prominent factors that are pushing the market growth include:
Over the forecast period, the market is projected to be driven by:
| Country/ Region | Value Share (2022) |
|---|---|
| North America | 36.8% |
| Europe | 23.5% |
| The United States | 27.2% |
| Germany | 3.6% |
| Japan | 3.4% |
As per the latest estimates, the North America is estimated to attain a market value of around 36.8% in 2023. The United States hemostasis testing systems market for hemostasis testing systems is expected to have a reigning share in the region and the world over. FMI analysts have estimated that the United States is projected to acquire about 27.2% in 2023. The high presence of industry giants in the country is contributing to the market’s growth.
Key players are providing a wide-ranging hemostasis testing portfolio with innovative applications and several industry firsts. Leading manufacturers in the industry are focusing on delivering advanced hemostasis solutions that function well for any lab. From the healthcare point of view, these new solutions, like coagulation analyzers and assays, improve operational efficiency and facilitate better care when combined with lab automation solutions and an IT portfolio.
The market is further ascending on account of increasing partnerships in the country. Sysmex Corporation and Siemens Healthineers, who had entered an agreement for the supply of hemostasis instruments and reagents, is a good case in point.
The European market for hemostasis testing systems is expected to gain about 23.5% in 2023. The German market is projected to have a prominent occupancy in the regional market. FMI analysts have calculated that Germany shares 3.6% of the global share. Apart from this, the United Kingdom is projected to have forecast growth of 4.8% through 2033.
New hemostasis testing systems are being launched to meet the challenging demands of hospitals, academic institutes, and diagnostic laboratories. For instance, Perosphere Technologies is involved in the advanced development and commercialization of a unique POC coagulometer called Perosphere Technologies POC Coagulometer. The device provides prompt and accurate assessment of clotting times throughout different types of anticoagulant medications such as DOACs. The product requires a mere 14 microliters of fresh whole blood and results in easy-to-interpret results with lab-like precision in 3-8 minutes.
Other constituents for market growth include increasing efforts to strengthen the healthcare infrastructure in Europe, increasing patient pool, and surging adoption of advanced automated analyzers. Apart from this, the widespread prevalence of clot disorders is fueling the adoption of hemostasis diagnosis tools.
The Asian countries are expanding at comparatively higher CAGRs. For instance, China is assessed to expand at a CAGR of 6.2%, and India is forecast to expand at a CAGR of 5% through 2033. The market performance is affected by surging income levels in these countries, directly impacting healthcare expenditures in emerging economies.
Asian inhabitants are demonstrating lifestyle-related changes, which have increased dietary-associated disorders. Apart from this, there has been an amplification of research initiatives in the biopharmaceutical sector, which has attracted additional funds to be allocated. The market is expected to be furthered by government initiatives to establish healthcare infrastructure and the movement of pharmaceutical companies into developing nations.
The Asia Pacific market is driven by new business opportunities for hemostasis testing systems providers due to increasing medical issues in the densely populated region. Hemostasis testing is becoming more standardized, thus presenting more opportunities for quality control products and services in the region.
As per the latest estimates by FMI, the hemostasis testing systems market in Japan is projected to account for around 3.4% value share in 2023. The soaring pipeline products for hemostasis in Japan are projected to have a positive influence on the forecast growth. The increasing availability of hemostasis diagnostic devices, including devices deployed for at-home monitoring and in physician’s offices, is augmenting the market growth.
Japan's government has established a comprehensive fee system, which includes a per-diem payment system and diagnosis procedure combination for the acute care hospital reform. This reform aims to lower the care costs to make medical facilities accessible. This development has led to increased competition in the regional healthcare market and a better quality of medical care via an early discharge and separation of medical functions.
The increasing elderly population in the Japan demographics is also contributing to the increased uptake of hemostasis testing systems. The aging rate in Japan has been estimated at 28.4% in 2019, with 90,526 people aged 100 years or over in 2022. Increasing surgical procedures in elders are catalyzing the use of hemostasis testing systems.
Australia's hemostasis testing systems market is emerging as a promising market for leading manufacturers. Market analysts at FMI have tracked that the market is expanding at a CAGR of 3.4% through 2033. The increasing patient awareness regarding hemostasis catalyzes product sales. Increasing investments in the healthcare setup and surging disposable incomes in the country are boosting the segment's growth.
The increasing technological advancements in hemostasis testing equipment are also uplifting the market. Increasing bleeding cases in the country caused by road accidents and other factors are fueling the market growth.
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The hemophilia application segment is projected to attain a market share of around 48.3% in 2023, per the recent market predictions by FMI analysts. Surging advancements in clinical trials and pharmaceuticals and increasing treatment options for chronic disorders are expected to fuel the development of the pharmaceutical market across the globe.
| Top Segment | Hemophilia |
|---|---|
| CAGR (2023) | 48.3% |
The Centers for Disease Control and Prevention has successfully developed, executed, and maintained a hemophilia surveillance system. As life expectancy increases, so does the susceptibility of hemophilia patients to be affected by heart disease and various other diseases. New programs are managing hemophilia-associated health problems, thus boosting the consumption of hemostasis testing instruments.
The diagnostic laboratories segment is expected to garner market share of about 59.6% in 2023. The market is expected to attract significant investments from the private as well as public sectors, thus boosting its growth.
| Top Segment | Diagnostic Laboratories |
|---|---|
| CAGR (2023) | 59.6% |
The demand for these systems is projected to be propelled by the constant developments in research and development directed at professional diagnostic tests and the miniaturization of molecular diagnostics. Apart from this, medical device manufacturers are anticipated to profit from the presence of cost-effective and high-quality medical devices.
The growing popularity of diagnostic tests conducted at the point of care among clinicians and patients is fueling the revenues of diagnostic laboratories. Additionally, minimally skilled lab professionals can effectively utilize these devices at labs, contributing to market development.
Key players are investing in technological leadership for better diagnostic information and science tools to make a difference in people’s lives. Top companies are exploring new opportunities emerging in the life science field. Another strategy to gain higher market share is to make efforts in the research and development activities to develop high-value-added testing and diagnostic technologies that are inventive, original, and optimize individual health.
Key firms can leverage cutting-edge gene, cell, and protein analysis technologies. In tandem with this, players can be seen constantly developing their service and product portfolio with AI-backed applications and digital offerings. Companies are providing diverse services and solutions to improve the healthcare providers' capacity to offer high-quality, effective care to patients.
New Developments in the Hemostasis Testing Systems Market
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The market is expected to generate a revenue of USD 2,149.3 million in 2023.
The market is expected to expand at a CAGR of 5.5% through 2033.
The United States is projected to grab a maximum market share.
Hemophilia is predicted to generate significant revenue for the market.
Grifols, S.A., BioMarin Pharmaceutical, Inc., and Sanofi are the key competitors in the market.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application Type 5.1. Hemophilia 5.2. Von Willerbrand Disease 5.3. Acquired Bleeding Disease 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use Type 6.1. in Hospitals 6.2. in Academic Institutions 6.3. Diagnostics Laboratories 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Western Europe 7.4. Eastern Europe 7.5. South Asia and Pacific 7.6. East Asia 7.7. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Key Countries Market Analysis 16. Market Structure Analysis 17. Competition Analysis 17.1. Werfen 17.2. Medtronic 17.3. Siemens Healthcare GmbH 17.4. Haemonetics Corporation 17.5. Roche Diagnostics Limited 17.6. Sysmex 17.7. Abbott Laboratories 17.8. Nihon Kohden Corporation 17.9. Beckman Coulter, Inc. 17.10. Grifols, S.A. 17.11. BioMarin Pharmaceutical, Inc. 17.12. Sanofi 17.13. GeTein BioMedical 18. Assumptions & Acronyms Used 19. Research Methodology
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Hemostasis Testing Systems Market
