Coagulation Testing Market is Projected to Expand at a CAGR of 9% Between 2017 and 2025

Coagulation Testing Market: Snapshot

Blood testing measuring the blood’s ability to clot and the time taken for the same is known as coagulation testing. Clotting disorders can cause excessive bleeding or clotting and can thus be fatal in either scenario. Coagulation testing is ordered if the physician suspects clotting disorders. There are a number of bleeding disorders which are either acquired or inherited, the most common among them being hemophilia, blood factor deficiency, etc.

The global market for coagulation testing was worth US$1,730 million in 2016, and is expected to exhibit a solid 9% CAGR in the 2017-2025 forecast period to end up at a valuation of US$3,715.8 million.

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Bleeding disorders can cause abnormal bleeding, therefore it is of the utmost importance to diagnose the disorders and monitor the coagulation status. The global coagulation testing 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.

PT Testing Likely to Dominate Coagulation Testing Market

The global coagulation testing market is segmented on the basis of product type into instruments and consumables. Consumables accounted for over 80% of the global coagulation testing market in 2016. The segment is anticipated to dominate the coagulation testing market throughout the forecast period. On the basis of test type, the coagulation testing market is segmented into PT, APTT, TT, ACT, and others. The PT test segment accounted for the highest share, accounting for over 70% of the coagulation testing market in 2016.

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Based on end user, the global market is segmented into hospitals and clinics, diagnostic laboratories, home care settings and others. The diagnostic laboratories segment is anticipated to expand at a fast CAGR of close to 10% during the forecast period, while hospitals and clinics are likely to remain the leading contributor to the coagulation testing market.

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Coagulation testing is performed for a variety of reasons relating to both, excessive bleeding and clotting of blood. The formation of blood clots may seem like a minor problem, but it can magnify into major disorders and diseases that can affect the normal functioning of the body. Owing to the aforementioned factors, the demand within the global market for coagulation testing has been escalating over the past decade. Cardiovascular disorders are also a dire consequence of formation of clots in the arteries, and it is imperative to diagnose these clots in time to prevent severities. This has also driven demand within the global market for coagulation testing and has given a push to the growth of vendors. The treatment of several bleeding disorders also necessitates the use of coagulation testing, thus, creating growth spaces within the global coagulation testing market.

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