Platelet Function Test Market

Platelet Function Test Market Snapshot (2022 to 2032)

The global platelet function test market is expected to be valued at USD 1178.4 Million in 2022. With the growing prevalence of platelet abnormalities, the overall demand for platelet function tests is projected to grow at a CAGR of 6.3% between 2022 and 2032, totaling around USD 2170.8 Million by 2032.

Data Points	Key Statistics
Platelet Function Test Market Value 2022	USD 1,178.4 Million
Platelet Function Test Market Projected Value (2032)	USD 2,170.8 Million
Platelet Function Test Market CAGR (2022 to 2032)	6.3%

Platelets are blood cells that are responsible for clotting broken blood arteries. Blood vessels are in charge of transporting blood throughout the body. When blood arteries are injured, platelets link together and clot the affected region, halting blood loss.

The clotting process begins when the injured arteries transmit signals that the platelets pick up on. Platelets go to the wounded location, restructure themselves to create a mesh, and bind to the damaged surface, preventing bleeding. A sufficient quantity of platelets is necessary for the human body for the clotting process to work properly.

In some situations, platelets cease to function effectively and lose their capacity to adhere to the injured region, therefore halting bleeding. These illnesses, which can be inherited or acquired, increase the patient's chance of death.

These diseases include ineffective platelet adhesion, platelet aggregation, platelet secretion, pro-coagulant activity, and anomalies in platelet production, hence it is vital to monitor platelet function. Platelet function tests are intended to identify issues related to platelet generation and function in the blood.

Platelet Function Test Demand Analysis (2017 to 2021) Vs Market Outlook (2022 to 2032)

The global demand for platelet function tests is projected to increase at a CAGR of 6.3% during the forecast period between 2022 and 2032, reaching a total of USD 2,170.8 Million in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 6.2%.

A platelet function test is required to determine whether or not a person has a platelet function abnormality. Platelet function is essential for the entire body process. Platelet abnormalities and illnesses can be treated if detected early. As a result, these factors may present strong growth possibilities for the platelet function test market.

Platelet problems such as thrombocytopenia and thrombocythemia are becoming more common, which may raise demand for platelet function tests throughout the projected period. The global elderly population is likewise growing at a rapid pace. As a result, the platelet function test market may see attractive development possibilities as a result of this factor.

Which Drivers underpin Platelet Function Test Industry Expansion?

Growing Incidence of Platelet Disorders to Accelerate the Market Growth

The platelet function test is in high demand due to the growing incidence of platelet diseases. The rising prevalence of illnesses such as thrombocythemia (an abnormal rise in the number of platelets) and thrombocytopenia (a reduction in the number of platelets) is likely to drive the platelet function test market during the forecast period.

Platelet function abnormalities are 1.5 times more likely to develop in women and the senior population. With the growing worldwide life expectancy rate, there is an expansion in the patient pool requiring platelet function tests, which is predicted to increase demand for the platelet function test market. Because of the growing number of cancer patients, increased use of platelet treatment is likely to drive the platelet function test market.

Other factors such as an increase in surgical operations, more awareness, and the development of new technologies are projected to drive the platelet function test market.

Which Factors are limiting the Growth of Platelet Function Test Market?

Unfavorable Reimbursement Regulations to stymie the Market Growth

Platelet function test market expansion will be hampered by unfavorable reimbursement regulations in emerging nations. In addition, a lack of competent specialists or educated knowledge in developing and undeveloped economies may impede the development rate of the platelet function test market.

Region-wise Insights 

Will North America Continue Dominance in the Global Platelet Function Test Market?

Region's Increased Awareness of Platelet-Related Illnesses to Fuel the Market Growth

The platelet function test market in North America is expected to accumulate the highest market share of 29% in 2022. North America has a larger regional share of the global platelet function test market.

North America is likely to lead the platelet function test market during the forecast period, owing to high platelet function test adoption rates and increased awareness of platelet-related illnesses. Furthermore, the existence of various manufacturers, as well as the growing pace of clinical research, is projected to drive platelet function test market expansion in this area.

Where does the growth of the Platelet Function Test Market in Asia stand?

Massive Patient Population in the Region to Fuel the Market Growth

The Platelet Function Test market in Asia is expected to accumulate a significant market share of 23% in 2022 and is expected to continue to maintain the trend over the forecast period as well.

The Asian market is predicted to have the highest market growth, owing to a massive patient population and manufacturers' development of inexpensive platelet function tests due to low taxation rates. The region's improved distribution channels and huge patient pool are also projected to drive the platelet function test market.

How Will the Growth of the Platelet Function Test Market unfold in Eastern Europe?

Increased Government Healthcare Spending in the Region to Accelerate Market

The platelet function test market in Europe is expected to accumulate a market share value of 27% in 2022. Europe is predicted to be an important market for platelet function tests, due to increased government healthcare spending and the implementation of efficient reforms for producers of platelet function test kits and systems.

Category-wise Insights

By End-User, which Platelet Function Test Category dominates the Market?

Diagnostics Centers Segment to Drive the Platelet Function Test Market

The platelet function test market is divided into hospitals, blood banks, diagnostics centers, academic institutions, and others based on end-use. The diagnostics centers sector is expected to have the largest market by 2032. A crucial aspect driving this rise is the increasing availability of much user-friendly, portable, and precise testing equipment.

The Start-Up Ecosystem: How key Players are opening Frontiers for Future Growth?

Start-ups and their innovations are driving some of the most recent advances in the platelet function test sector. Let's have a look at some of the primary start-ups in this industry:

• Omini Labs, a French startup, is working on a sensor-based portable blood testing gadget. The proprietary sensor technology of the business allows for the fast, quantitative, and simultaneous assessment of critical biomarkers from tiny patient samples. As a result, the gadget provides clinicians with immediate insights into the diagnosis prior to giving medicine.
• Truvian Sciences, established in the United States, provides an on-site blood testing platform for healthcare institutions. The product of the startup is small and covers a wide spectrum of analytes. The gadget delivers insights into blood count with a three-part differential, basic medical panel, Hemoglobin A1c and glucose levels, liver function, and renal function, among others, using 5 drops of a patient's blood - all in under 20 minutes. Furthermore, the Truvian app provides medical professionals with detailed and user-friendly reports delivered straight to their smartphones.
• 2Bull MeDiTherapy, a Greek firm, has developed a patent-pending blood test to detect ascending aortic aneurysms. The diagnostic solution developed by the firm has a sensitivity of 95% and a specificity of 92%. Furthermore, the non-invasive blood test may be done regularly to monitor the disease's progression and provide unambiguous findings.

Who are the Leading Players in the Platelet Function Test Market? 

F. Hoffmann-La Roche Ltd, Haemonetics Corporation, Siemens AG, Accriva Diagnostics, Helena Laboratories, Terumo BCT, Inc., Fresenius SE & Co KGaA., and Aggredyne, Inc. are some of the main players in the platelet function test industry.

Companies are now concentrating on developing more accurate test methods and analyzers, as well as making ongoing efforts to build distribution channels in growing markets.

Recent Developments:

• In April 2019, Aggredyne, Inc., a platelet testing and research firm gained FDA clearance for its innovative AggreGuide A-100® ADP Assay testing cartridge, a cost-effective in vitro diagnostic instrument used to detect the efficacy of numerous antiplatelet drugs that target the platelet P2Y12 receptor.

Report Scope

Report Attribute	Details
Growth Rate	CAGR of 6.3% from 2022 to 2032
Market Value in 2022	USD 1,178.4 Million
Market Value in 2032	USD 2,170.8 Million
Base Year for Estimation	2021
Historical Data	2017 to 2021
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Product Type, End-User, Application, Region
Regions Covered	North America; Latin America; Europe; South Asia & Pacific; East Asia; Middle East & Africa (MEA)
Key Countries Profiled	The USA, Canada, Brazil, Mexico, Germany, The UK, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Thailand, Australia, New Zealand, GCC, South Africa, Israel
Key Companies Profiled	F. Hoffmann-La Roche Ltd; Haemonetics Corporation; Siemens AG; Helena Laboratories; Terumo BCT, Inc.; Fresenius SE & Co KGaA; Aggredyne, Inc.; SENTINEL Ch. S.p.A; Drucker Diagnostics; Thermo Fisher Scientific Inc.
Customization & Pricing	Available upon Request

Key Segments Covered in the Platelet Function Test Industry Analysis

Platelet Function Test Market by Product:

• Systems
• Reagents
• Accessories

Platelet Function Test Market by End-User:

• Hospitals
• Blood Banks
• Diagnostics Centers
• Academic Institutions
• Others

Platelet Function Test Market by Application:

• Clinical Applications
• Research Applications
• Pharmaceutical Development
• Other Applications

Platelet Function Test Market by Region:

• North America Platelet Function Test Market
• Latin America Platelet Function Test Market
• Europe Platelet Function Test Market
• South Asia & Pacific Platelet Function Test Market
• East Asia Platelet Function Test Market
• Middle East & Africa Platelet Function Test Market

Frequently Asked Questions

At what value did the platelet function test market close in 2022?

By 2022-end, sales of platelet function test closed at a value of USD 1178.4 Million

What was the last 4 years value CAGR for platelet function test market value?

From 2017 to 2021, platelet function test demand expanded at a CAGR of 6.2%

What is the projected forecast CAGR for the platelet function test industry from 2022 to 2032?

From 2022 to 2032, platelet function test sales are expected to flourish at a CAGR of 6.3%

According to FMI, what is the anticipated market value for platelet function test in 2032?

By 2032, the market value of platelet function test expected to reach USD 2,170.8 Million