Point-of-Care (POC) Coagulation Testing Devices Market (Product: Instruments/Analyzers and Consumables & Accessories) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2030

According to Nova one advisor, the global Point-of-Care (POC) Coagulation Testing Devices market size is expected to hit around USD 3.18 billion by 2030 from valued at USD 1.70 billion in 2021 and growing at a CAGR of 5.14% from 2022 to 2030.

Coagulation, or clotting, is the process of conversion of liquid blood into a gel-like clot to stop bleeding. The capability of the body cells to prevent blood loss after a vascular injury by forming a blood clot is vital to sustaining health. A number of coagulation or clotting factors are involved that lead to a physiological procedure called hemostasis. Hemostasis is the mechanism of clotting that involves activation, adhesion, and aggregation of platelets mediated by several clotting factors, eventually leading to the repair of the injured tissue. The absence of any of these factors could lead to a rare, but serious blood clotting disease and excessive bleeding. Point-of-care testing (POCT) can be defined as a fast, specific medical diagnostic testing of bodily fluids at the bedside. It is often termed as decentralized diagnostic testing.

Rise in prevalence of blood clotting disorders, increase in POCT coagulation in developed countries, and surge in usage of anticoagulant therapy are the factors driving the global POC coagulation testing devices market. Furthermore, increase in prevalence of cardiovascular diseases & cancer, constant product & technology innovations, and funding by the government are propelling the global market. However, lack of awareness in developing countries and regulatory challenges are projected to restrain the global point-of-care coagulation testing devices market. A number of studies have shown that 60% to 70% of deep vein thrombosis in developing countries is clinically undiagnosed. Nevertheless, players in the point-of-care coagulation devices market are establishing a stronger foothold in developed and emerging markets.

Report Scope of the Point-of-Care (POC) Coagulation Testing Devices Market

COVID-19 Impact on Point-of-Care Coagulation Testing Devices Market

The COVID-19 pandemic has had a negative impact on the global point-of-care coagulation testing devices market. Several affected countries deferred non-essential surgeries and patient visits during the breakout year of the pandemic. This led to a substantial decline in overall non-emergency surgery and treatments, thereby limiting the usage of point-of-care coagulation testing instruments during preoperative or post-operative conditions. The pandemic caused a decline in key players’ revenue. However, demand for vital function monitoring viscoelastic devices, including venous thromboembolism (VTE) and Thromboelastography (TEG), has increased during the pandemic, as these devices help detect pulmonary embolism (PE) and venous thromboembolism (VTE) among critically ill COVID-19 patients. According to the Intensive Care Medicine Journal, in May 2020, the incidence of prothrombotic conditions in patients with severe symptoms of COVID-19 infection increased significantly. This resulted in a rise in number of coagulation tests such as prothrombin time (PT), D-dimer, TEG, and activated partial thromboplastin time (aPTT).

Increase in Adoption of Consumables and Accessories to Drive Point-of-Care Coagulation Testing Devices Market

In terms of product, the consumables & accessories segment accounted for major share of the global point-of-care coagulation testing devices market in 2021. Increase in usage of kits & reagents, which provide results in less time; growth in usage of POC testing strips that provide reliable results; rise in demand for quicker results; and surge in POC testing are the major factors augmenting the consumables & accessories segment. Rapid coagulation testing methods are increasingly adopted by patients. Moreover, adoption of POC coagulation analyzers is projected to rise in the near future, which is likely to drive the segment. The usage of disposable consumables is increasing due to the rise in awareness about the prevention of blood-borne diseases, such as hepatitis B and HIV, among the people. Thus, assurance of patient safety due to usage of disposable consumables and reliable results is propelling the segment.

Growth in Product Launches for Point-of-Care Testing Propelling Demand for PT/INR Testing

The PT/INR segment held the largest share of the market in terms of revenue in 2021. The segment is anticipated to dominate the global market owing to the growing trend of point-of-care testing and self-monitoring with PT tests. Moreover, high reliability of the coagulation status on the PT test is one of the factors likely to drive the segment during the forecast period. Key players are focused on the launch of technologically advanced products. For instance, Roche developed a Bluetooth-enabled PT/INR testing CoaguChek device that helps patients and health care providers to check coagulation status and help in remote care. Similarly, Siemens Healthineers launched the FDA-approved POC PT/INR device called Xprecia Stride Coagulation Analyzer. This device has demonstrated PT/INR testing performance equivalency with the Roche CoaguChek XS POC system.

Rise in Number of Private Clinics and Increase in Skilled Personnel Augmenting Clinics Segment

The clinics segment is anticipated to grow at a rapid pace during the forecast period. Factors such as faster results, convenience of testing, prevalence of chronic diseases, and preoperative testing are attributed to the growth of the clinics segment. According to a report, in 2018, around 129 million adults in the U.S. had been diagnosed with at least one chronic condition; 61 million adults among them had one chronic condition, while 68 million had more than two chronic conditions. Furthermore, rise in number of private clinics and increase in skilled personnel to perform the tests are the major factors augmenting the clinics segment. For instance, India had an estimated 69,000 private and public clinics in 2019. Similarly, China had more than 50,000 private and public clinics.

Regional Outlook of Global Point-of-Care Coagulation Testing Devices Market

North America is projected to be a highly attractive region of the global point-of-care coagulation testing devices market during the forecast period. The region accounted for the largest share of the global market in 2021. High prevalence of cardiac diseases, technologically advanced countries, and rise in awareness about coagulation disorders are factors propelling the market in North America. Recent FDA approvals for point-of-care coagulation testing devices such as Abbott's i-STAT indicate increasing demand and support among the public and private sectors along with manufacturers’ focus to capture this rising demand. The U.S. accounted for large share of the market in North America due to the rise in cases of chronic diseases and surge in uptake of early disease detection procedures in the country.

The market in Asia Pacific is likely to grow at the fastest CAGR from 2022 to 2030. The region is witnessing gradual adoption of novel products, increase in health care expenditure, and changes in dynamics in the in vitro diagnostics industry. This is expected to drive the adoption of new technologies among hospitals and diagnostic laboratories.

Key Developments in Global Point-of-Care Coagulation Testing Devices Market

• In April 2021, LumiraDx, a U.K.-based next-generation point-of-care (POC) diagnostics testing company, announced a merger with CA Healthcare Acquisition Corp. (CAHC), a special purpose acquisition company, in a deal worth US$ 5 Bn. The merger will help advance LumiraDx’s portfolio of over 30 assays across common health conditions, including infectious diseases, cardiovascular diseases, diabetes, and coagulation disorders.
• In April 2019, Ortho Clinical Diagnostics in collaboration with Diazyme Laboratories, Inc. launched a new MicroTip Partnership Assay program for coagulation testing
• In March 2019, ARKRAY, Inc. launched the "SPOTCHEM HS HS-7710" blood coagulation analyzer. This analyzer enables personnel to perform measurements quickly and easily in the operating room, allowing doctors to comprehensively determine blood coagulability.

Some of the prominent players in the Point-of-Care (POC) Coagulation Testing Devices Market include:

• F. Hoffmann-La Roche AG
• Abbott Laboratories
• Siemens Healthineers
• Medtronic plc
• Haemonetics Corporation
• HemoSonics, LLC
• Micropoint Bioscience, Inc.
• Werfen
• Sienco, Inc.
• Koninklijke Philips N.V.

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Point-of-Care (POC) Coagulation Testing Devices market

• Product
• Instruments / Analyzers
• Consumables & Accessories
• Method
• PT / INR
• Viscoelastic Coagulation Monitoring
• Others (ACT, aPTT, etc.)
• End-user
• Hospitals
• Diagnostic Laboratories
• Clinics
• Others

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Point-of-Care (POC) Coagulation Testing Devices industry analysis from 2022 to 2030 to identify the prevailing Point-of-Care (POC) Coagulation Testing Devices industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Point-of-Care (POC) Coagulation Testing Devices industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Point-of-Care (POC) Coagulation Testing Devices industry trends, key players, market segments, application areas, and market growth strategies.