Blood Coagulation Testing Market Reaches To USD ~7.5 Billion Registering A CAGR of 6.5% by 2023; Asserts MRFR

MarketResearchFuture.com adds “Blood Coagulation Testing Market -2018 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2023” reports to its database.

Regional Analysis:
The Americas dominate the global blood coagulation testing market owing to the presence of a huge patient population with liver cancer, high health care spending, and increasing government support for research & development.  

Europe holds the second largest share of the global blood coagulation testing market as result of increasing focus of various government agencies on the treatment of rare diseases such as thrombophilia and hemophilia. Moreover, the growing public awareness about the cons of this disease is likely to boost the European market growth.

The Asia Pacific is the fastest growing blood coagulation testing market across the globe, owing to rapidly developing the economy, increasing healthcare awareness, and the government’s support to biotechnology and pharmaceutical industries projected to drive the market in China and India over the forecasted period.

The Middle East and Africa hold the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market. Whereas, the African region is expected to witness a moderate growth.

Key Players:
Some of the major players in the global blood coagulation market are F. Hoffmann-La Roche Ltd. (Europe), Alere Inc. (U.S.), Siemens Healthcare Private Limited (Europe), Accriva Diagnostics (U.S.A.), CoaguSense, Inc. (U.S.), HomoSonics LLC. (U.S.), iLine Microsystems. (Europe), Instrumentation Laboratory (U.S.), Sienco, Inc. (U.S.), SenGenix Inc. (U.S.), and Bio/Data Corporation (U.S.)

Blood Coagulation Testing market-Overview:
Blood coagulation is a process of blood clot formation. In case of patients suffering from chronic and fatal diseases such as haemophilia, liver disease, thrombophilia the process of blood clotting is found is hindered. Blood coagulants, are natural and synthetic substances that are used to stop blood resulting from an injury or surgery. The market for blood coagulation testing is found to exhibit positive growth owing to the rising prevalence of cancer, and increasing demand screening test for chronic diseases. However, high cost of diagnostic devices is a major factor hindering the growth of the market.

Blood coagulation testing is the procedure to diagnose several hemostatic diseases, which is identified by the patients’ inability to coagulate the blood owing to lack of blood clotting proteins. Blood coagulation testing is used for the diagnosis of bleeding disorders, thrombophilia, and hemophilia. The rapidly growing geriatric population is one of the major drives of the market since they are more susceptible to such diseases. The prevalence of hemostatic diseases has been increasing across the globe from the last few years. Increasing healthcare expenditure has provided a push to the growth of the market. However, the high cost of the products and lack of awareness may restrain the market growth.

Increasing prevalence of liver diseases, increasing investment in biotechnology and pharmaceutical industries for research & development, and availability of funds are expected to drive the growth of the market. Moreover, changing lifestyle, and rapidly developing technology is expected to fuel the market growth during the forecast period.

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Key developments:
Strategic approaches adopted help the major players to sustain their growth in the market and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players.

Pfizer:
July 2016: Pfizer and Western Oncolytics announce immuno-oncology research collaboration. This collaboration was initiated with the aim of investigating novel oncolytic virus technology. Under terms of agreement, Pfizer and Western Oncolytics will collaborate on preclinical, clinical development of WO-12 through Phase I trials. Financial terms of agreement are not disclosed.

June 2016: Pfizer completed the acquisition of Anacor Pharmaceuticals. This acquisition has a motive for Pfizer, so that the company can accelerate their shared commitment to help patients with inflammatory disease, an area of high unmet medical need.

1. Hoffmann-La Roche Ltd.

April 2017: F. Hoffmann-La Roche Ltd. received 510(k) clearance from the U.S. FDA for the CINtec Histology test. This test is the only clinically validated p16 biomarker test. The CINtec Histology test will help physicians make informed decisions as to the best course of care for patients with high-grade pre-cancerous cervical disease.

March 2017: F. Hoffmann-La Roche Ltd.  launched CE-IVD launch of cobas HPV for use on the cobas 6800/8800 Systems for cervical cancer screening. With the powerful clinical benefits of the cobas HPV test, Roche now caters to the needs of both low-to-mid volume labs and high-throughput labs who want to consolidate a multitude of validated assays onto a single platform.

 August 2015: F. Hoffmann-La Roche Ltd. acquired GeneWEAVE to strengthen offerings in microbiology diagnostics. Roche will pay GeneWEAVE shareholdsers $190 million upfront and up to $235 million in contingent product related milestones.

Alere:
August 2016: Alere opens new diagnostics manufacturing facility in India. By this expansion the Manesar facility will have capacity to double production to more than 300 million tests over time.

July 2015: Alere to sell BBI Group and acquisition of US diagnostics. The company (Alere) Continues to execute on core business strategy through agreement to sell bbi group and acquisition of U.S. diagnostics.

Segmentation:
The global blood coagulation market is segmented on the basis of product, application, test type, and end user. On the basis of the product, the market is segmented into clinical laboratory, automated testing, and semi-automated testing. On the basis of the application, the market is segmented into congenital bleeding disorders, acquired bleeding disorders, Von Willebrand disease, and hemophilia. On the basis of the test type, the market is segmented into various testing kits and others. Furthermore, the testing kits are segmented into prothrombin time (PT), activated clotting time, D dimer, and fibrinogen (FIB). On the basis of the end user, the market is segmented into academic institutions, hospitals, and diagnostic laboratories.

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