The global market for coagulation testing was worth USD 1730 million in 2016 and is expected to reach USD 3715.8 million in 2025, growing at a CAGR of 9 percent, predicts Transparency Market Research. The global market is witnessing significant growth due to growing prevalence of blood clotting disorders in many regions and the rise in cardiovascular disorders, which can also require regular coagulation testing. Consumables accounted for over 80 percent of the global market in 2016. The segment is anticipated to dominate the market throughout 2017–2025. Based on end user, the diagnostic laboratories segment is anticipated to expand at a fast CAGR of close to 10 percent during 2017–2025, while hospitals and clinics are likely to remain the leading contributor to the coagulation testing market. Geographically, North America and Europe are the major regions where revenue is derived from coagulation testing. The region showed high adoption rates of coagulation testing due to rise in awareness amongst people about the importance of detecting and monitoring their coagulation status, high prevalence of cardiovascular diseases, and the availability of a favorable reimbursement scenario.
The coagulation testing market in APAC is said to be at a primary stage. It is anticipated that APAC will gain significant market share over the forecast period. Rising awareness, increasing population, entry of new players focusing on emerging markets, and increase in healthcare funding are some of the key drivers of the region. The region for coagulation testing is expected to exhibit a robust 10.8 percent CAGR over the 2017–2025 period, rising from a 2016 valuation of USD 358.1 to USD 891.8 million by 2025. Some of the key players in the market are Alere Inc., F. Hoffmann-La Roche Ltd, Abbott Laboratories, Siemens Healthineers, Sysmex Corporation, Universal Biosensors Inc., HemoSonics LLC, and Helena Laboratories Inc. Testing with high specificity and accuracy is likely to remain a major factor in the global coagulation testing market.