Point of Care Coagulation Testing Products Market Size - By Test Type (Prothrombin Time Testing Products, Activated Clotting Time (ACT/APTT) Testing Products), By Product Type- Global Forecast, 2023-2032

Point of Care Coagulation Testing Products Market Size - By Test Type (Prothrombin Time Testing Products, Activated Clotting Time (ACT/APTT) Testing Products), By Product Type- Global Forecast, 2023-2032

Global Point of Care Coagulation Testing Products Market will witness 7.2% CAGR between 2023 and 2032. The market is experiencing demand due to the constant contracts and partnerships driven by leading companies. For instance, in August 2023, HemoSonics®, a company specializing in medical technology for managing acute bleeding, secured an Innovative Technology contract from Vizient, Inc. for its Quantra Hemostasis System. The Quantra® Hemostasis System includes the Quantra Hemostasis Analyzer equipped with QPlus® and QStat® Cartridges, delivering a comprehensive whole-blood coagulation analysis at the point of care in just 15 minutes. Quantra has received FDA clearance for usage in various clinical settings, such as operating rooms, intensive care units, and hospital laboratories, with minimal resource requirements for maintenance, operation, and interpretation.

These collaborations enable the development of innovative products and expand market reach. Through strategic alliances, companies enhance their capabilities, leading to the introduction of advanced coagulation testing solutions. As a result, the point of care coagulation and testing products market demand is on the rise, driven by the pursuit of cutting-edge technology.

The overall Point of Care Coagulation Testing Products Industry is classified based on test type, product type, and region.

Activated clotting time testing products segment will experience robust growth from 2023 to 2032. These products play a vital role in monitoring blood coagulation in real time, essential for surgeries, critical care, and managing anticoagulant therapies. The need for rapid and accurate results is driving the point of care coagulation testing products industry as healthcare providers seek efficient solutions to improve patient outcomes and ensure timely clinical decisions.

Consumables segment will register a notable CAGR from 2023 to 2032. These essential components, including test cartridges and reagents, are pivotal in conducting coagulation tests at the point of care. The market's growth is attributed to the increasing need for reliable, easy-to-use consumables that facilitate rapid coagulation analysis. Healthcare professionals rely on these products to deliver accurate results swiftly, therefore, supporting their contribution to the point of care coagulation testing products market outlook.

Asia Pacific point of care coagulation testing products industry will showcase a noteworthy CAGR from 2023 to 2032. This surge can be attributed to the growing awareness of the importance of coagulation testing, improved healthcare infrastructure, and a rising prevalence of coagulation disorders.

The demand for these products is driven by the need for efficient and accessible coagulation monitoring, ultimately enhancing patient care and clinical outcomes across Asia-Pacific healthcare systems. Additionally, the rising number of innovations in point of care testing product launches by leading regional companies also support the market. For instance, in January 2023, Cipla, a pharmaceutical company headquartered in Mumbai, unveiled Cippoint, a cutting-edge point-of-care testing device. This advanced device provides a comprehensive array of several testing parameters, including coagulation markers, among others.