Global Coagulation Monitoring Products Market - 2024-2031

Global Coagulation Monitoring Products Market - 2024-2031

Global coagulation monitoring products market reached US$ YY million in 2023 and is expected to reach US$ YY million by 2031, growing at a CAGR of YY% during the forecast period 2024-2031.

Coagulation tests assess blood’s ability to clot as well as the time it takes to clot. Testing can assist a doctor in determining the risk of excessive bleeding or the formation of clots (thrombosis) in blood vessels. Coagulation monitoring devices are medical devices that measure the period it takes for blood to clot. This information is essential to diagnosing and managing a variety of bleeding and clotting disorders.

They measure numerous elements of the blood clotting process, enabling healthcare practitioners to identify bleeding disorders, monitor the efficacy of blood-thinning drugs (anticoagulants), and guide blood clotting treatment options.

Market Dynamics: Drivers & Restraints

Increasing number of coagulation monitoring products

Increasing number of advanced coagulation Monitor products and devices is expected to drive the market growth during the forecast period. The increasing launches of new advanced products to meet the needs of hospitals and patient requirements.

For instance, in March 2024, Aussie biosensor company Universal Biosensors received the US FDA and CLIA Waiver approval for its Xprecia Prime Coagulation Analyzer as a Class II device. Xprecia Prime is a portable coagulation monitoring device that provides fast and accurate PT/INR testing specifically for patients on vitamin K antagonist oral anticoagulation therapies like Warfarin.

Additionally in November 2023, Universal Biosensors introduced Xprecia Prime Coagulation Analyser, the new and improved coagulation monitoring device. Xprecia Prime is small, portable, accurate, and easy to use.

Also in July 2023, ARKRAY USA, Inc. launched the Assure PT Care PT/INR Monitoring System, in a strategic partnership with CoaguSense, Inc. Thus, the increasing number of product launches into the market will drive the market growth during the forecast period.

High cost of testing devices

The major reason restricting the use of medical devices such as POC coagulation monitoring devices is the high cost of these devices compared to the laboratory tests for monitoring. Due to limited economic opportunities, low and middle-income countries (LIC/MICs) face significant challenges.

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Segment Analysis

The global coagulation monitoring products market is segmented based on product, end-user and region.

Viscoelastic coagulation monitor segment is expected to dominate the market growth

A viscoelastic blood analysis provides a dynamic in vitro assessment of global coagulation, from the beginning of clot formation to fibrinolysis in whole blood. The study includes the interaction of all coagulation components, including platelets, red blood cells, fibrin, coagulation factors, and thrombin. The viscoelastic coagulation monitor (VCM) System is a revolutionary technology that leverages glass surface activation of untreated whole blood.

It is a compact, portable instrument that may do a viscoelastic examination of the coagulation-fibrinolysis process at the patient's bedside. The rapid clotting begins due to the large surface contact area between the extracted blood and the glass inside the cartridge. Thus, the efficiency of these instruments is expected to hold the segment during the forecast period.

Geographical Analysis

North America is expected to hold a significant position in the coagulation monitoring products market share

North America is expected to hold a dominant position in the market share owing to the presence of a large number of manufacturers, highly equipped hospitals and also the increasing demand for the products by the increasing prevalence of blood disorders in the region. Market key players are introducing a new variety of products for coagulation monitoring to expand the company’s portfolio which can boost the market growth.

For instance, in February 2024, Roche launched three new coagulation tests for the oral Factor Xa inhibitors apixaban, edoxaban and rivaroxaban in countries accepting the CE mark.

Additionally, on July 24, 2023, Baxter International Inc. launched the PERCLOT Absorbable Hemostatic Powder in the U.S. PERCLOT is a passive, absorbable hemostatic powder that is ready to use and designed for patients with intact coagulation to address mild bleeding. Thus, the above factors are expected to hold the region in the dominant position in the market share.

COVID-19 Impact Analysis

COVID-19 has affected the healthcare industry moderately. To stop its spread, government-imposed lockdown. People are fearful they may experience occupational effects and negative health from the COVID-19 pandemic. Because hypercoagulability has been observed in COVID-19 patients, the FDA recognized the importance and utility of increasing the availability of devices to test for and manage coagulopathies in patients in hospitals and other healthcare facilities experiencing an increase in patient load as a result of the COVID-19 public health emergency. This has boosted the global coagulation monitoring products market.

Market Segmentation

By Product
• Instrument
Viscoelastic Coagulation Monitor
Anticoagulation Monitors
Platelet Functioning Monitoring Devices
Haemostasis Analyzer
• Assays
Anti-Xa assay
Heparin Assay
Dimer Assay
• Reagents
Thromboplastin
Thrombospan LS
Thrombospan LS aPTT-EA

By End-User
• Hospitals
• Clinics and Diagnostic centers
• Home Setting
• Ambulatory Settings

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
UK
France
Italy
Spain
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
• Middle East and Africa

Competitive Landscape

The major global players in the market include Siemens Healthineers, CoaguSense Inc., Hemosonics LLC, Horiba ABX S.A., Universal Biosensors Inc., Mindray Bio-medical Electronics Co., Ltd., BIOGENIX INC. PVT. LTD., Maccura Biotechnology Co., Sclavo Diagnostics International S.r.l and Helena Laboratories (UK) Limited among others.

Why Purchase the Report??
• To visualize the global coagulation monitoring products market segmentation based on product, end-user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of coagulation monitoring products market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global coagulation monitoring products market report would provide approximately 53 tables, 47 figures and 176 pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies