PLATELET AGGREGATION DEVICES MARKET ANALYSIS

Market Challenges And Opportunities

The global platelet aggregation devices market is experiencing strong growth owing to the increasing incidence of cardiovascular diseases (CVDs) and growing burden of bleeding disorders across the globe. Moreover, growing geriatric population and rise in demand for platelet aggregation devices worldwide is expected to boost the market growth. However, factors such as high cost of platelet aggregation devices and shortage of skilled personnel are expected to hamper growth of the global platelet aggregation devices market.

Global Platelet Aggregation Devices Market Drivers:

Increasing incidence of cardiovascular diseases (CVDs) around the world is expected to boost the growth of the platelet aggregation devices market during the forecast period. For instance, platelet aggregation devices are used for the treatment of CVDs, which in turn is expected to increase the demand for platelet aggregation devices worldwide. According to the World Health Organization (WHO), CVDs are the leading cause of global mortality and major contributor to disability, taking an estimated 17.9 million lives each year. This in turn is expected to increase demand for platelet aggregation devices around the world.

Growing burden of bleeding disorders across the globe is expected to augment growth of the global platelet aggregation devices market during the forecast period. With growing incidence of bleeding disorders, the demand for platelet aggregation devices/systems is also increasing, as they are used to diagnose bleeding disorders. Platelet aggregation test is usually performed on individuals with bleeding problems. According to the Centers for Disease Control and Prevention (CDC), there are about 3 million people nationwide who are affected by bleeding disorders. This in turn is expected to increase demand for platelet aggregation devices.

Global Platelet Aggregation Devices Market Opportunities:

Increase in demand for platelet aggregation devices worldwide is expected to provide significant growth opportunities for players in the platelet aggregation devices market. For instance, with the increase in burden of chronic and bleeding disorders, the demand for platelet aggregation devices is also increasing with a rapid pace. In March 2020, Hart Bio announced the launch of ADP MEA and TRAP-6 MEA. Both ADP MEA and TRAP-6 MEA are designed to monitor and test platelet aggregation function of patients. ADP MEA is designed for use in diagnosing platelet dysfunction or normal platelet activity in whole blood for Multiple Electrode Aggregometry.

Growing geriatric population across the world is expected to offer lucrative growth opportunities for players in the global platelet aggregation devices market. For instance, aging increases the risk of chronic diseases such as heart disease, diabetes, and cancer. Moreover, growing population of older adult patients with bleeding disorders is at the risk of age-related comorbidities. According to the World Health Organization (WHO), by 2030, one in six people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion). This in turn is expected to propel market growth.

Global Platelet Aggregation Devices Market Restraints:

High cost of platelet aggregation devices and shortage of skilled personnel is expected to hamper growth of the global platelet aggregation devices market. For instance, although new technologies, devices, or systems are having profound impact on patients, doctors, and healthcare organizations, the medical workforce (skilled personnel) falls short as a career choice for many reasons, leading to the current shortage. This is one of the significant challenges faced by the platelet aggregation devices market, which hinders the growth of the market.