HEMOSTASIS/COAGULATION ANALYZER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Hemostasis/Coagulation Analyzer Market Size and Trends

Global hemostasis/coagulation analyzer market is estimated to be valued at USD 4.36 Bn in 2024 and is expected to reach USD 6.47 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

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The hemostasis/coagulation analyzer market is expected to witness significant growth over the forecast period. The rising prevalence of chronic diseases and increasing demand for home healthcare are expected to drive the market growth. Additionally, the growing demand for biological drugs and self-administration are encouraging pharmaceutical companies to invest more in developing advanced drug delivery systems like dual chamber prefilled syringes.

Market Driver – Increasing Product Launches by Key Market Players

Increasing adoption of organic growth strategies such as product launches by key market players is expected to drive the global hemostasis/coagulation analyzer market growth over the forecast period. For instance, in October 2021, Trivitron Healthcare, a medical device company, announced the launch of new line of Coagulation Analyzer products manufactured by Diagon Ltd., a medical technology company. The new products include the COAG Line automated, semi-automated, and POC systems manufactured by Diagon Hungary for reducing bleeding risk in extensive surgeries, checking the efficacy of haemostatic therapies and anti-coagulant drugs.

The global prevalence of coagulation disorders has been on the rise over the past few decades. Various chronic medical conditions that impair the body's natural blood clotting processes have become more common worldwide. Inherited bleeding disorders like hemophilia A and B affect over 400,000 people globally and the incidence of acquiring these genetic conditions is going up annually. Moreover, lifestyle-related illnesses such as liver disease, kidney failure, and cancer which disrupt the normal homeostasis of coagulation factors in the bloodstream have witnessed a rise coinciding with changing demographics and risk factors. As these patient populations expand, the need for frequent monitoring and management of their coagulation status will drive greater demand for hemostasis analyzers.