- The point-of-care coagulation testing devices market is anticipated to gain profitable growth on the back of the increasing cases of bleeding disorders such as hemophilia around the world
- The global point-of-care coagulation testing devices market is extrapolated to expand at a CAGR of ~6 percent between 2019 and 2027
ALBANY, N.Y., April 20, 2021 /PRNewswire/ -- The increase in the number of bleeding disorders across the globe has been alarming in recent years. A change in lifestyle habits and other factors have led to an incline in bleeding disorders and diseases. The survey by the Centers for Disease Control and Prevention (CDC) on hemophilia, a blood disorder suggests that hemophilia affects 1 in 5000 male births. In addition, nearly 400 babies are born with this disorder every year.
These statistics point out the need for controlling the disorder. Devices like point-of-care coagulation testing devices act as a savior for controlling such disorders. Therefore, based on these factors, the point of care coagulation testing devices market will observe a good growth trajectory during the assessment period of 2019-2027.
Point-of-care coagulation testing devices are mainly used for diagnosing blood disorders like hemostasis and others. The diagnosis enables quick treatment and fast recovery. Thus, these factors bring good growth prospects for the point-of-care coagulation testing devices market. Those suffering from the symptoms of blood disorders are switching to point-of-care testing for quicker results and rapid treatment. Thus, this aspect will also bring tremendous growth opportunities for the point-of-care coagulation testing devices market.
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Transparency Market Research (TMR) estimates the point-of-care coagulation testing devices market to observe a CAGR of ~6 percent across the forecast period of 2019-2027. The global point-of-care coagulation testing devices market is estimated to gain revenues of ~US$ 1.7 bn by the end of the forecast period, that is, 2027.
The point-of-care coagulation testing devices market is expanding its horizons across growth on the basis of novel advancements. The players in the point-of-care coagulation testing devices market are focusing on research and development activities to add new features and functions that are more beneficial to the end-users. In addition, expansion activities are also playing a vital role. Manufacturers in the point-of-care coagulation testing devices market are investing in expanding their production capacities, especially in Asia Pacific as the demand for these devices is increasing in the countries present in this region.
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Key Findings of the Report
Home Care Services and Self-Assessment of Diseases Gaining Traction, Which Fuels the Growth Prospects
The COVID-19 pandemic has led to an acute shortage of beds and treatment facilities for non-COVID care. Hence, many individuals now prefer home treatment instead of visiting the clinics and hospitals for treatments. This step keeps them away from the virus transmission as well as helps in safe treatments. The rising popularity of home care services has increased the demand for the point-of-care coagulation testing devices market, eventually helping in increasing the growth rate.
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Product Innovations to Accelerate the Growth of Point-Of-Care Coagulation Testing Devices Market
Various advancements and upgrades are being observed across the point-of-care coagulation testing devices market. The players are coming up with new strategies and innovative techniques to make the devices more convenient and feasible. New product launches are also adding extra stars of growth. For instance, Entegrion, Inc., a clinical diagnosis firm recently announced the acceptance of abstracts demonstrating the capability of the VCM viscoelastic coagulation monitor for use in varied field care settings. Such developments bring immense growth opportunities for the point-of-care coagulation testing devices market.
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Increase in TEG Testing for COVID-19 Patients to Lay a Red Carpet of Growth
Many medical associations are suggesting thromboelastography (TEG) testing for COVID-19 patients to avoid clot formation complications. This aspect will turn the tables of growth across the point-of-care coagulation testing devices market to a considerable extent.
Explore Transparency Market Research's award-winning coverage of the global Healthcare Industry:
Coagulation Testing Market: https://www.transparencymarketresearch.com/coagulation-testing-market.html
Anticoagulants Market: https://www.transparencymarketresearch.com/anticoagulants-marke.html
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