Hemostasis Diagnostic Analyzers and Reagents Market:Overview
Hemostasis is a process of stopping bleeding or hemorrhage at a wound or incision site. Minimizing and arresting blood flow is a function of paramount importance for doctors treating patients suffering from blood clotting or bleeding disorders. Additionally, effective management of bleeding is imperative during surgical and other invasive procedures to improve patient outcomes.
In order to improve a patient’s natural ability to stop bleeding, several products known as hemostatic agents are widely available in the market. The objective of all hemostatic agents is to act by mimicking, stimulating, or bypassing specific steps of the coagulation cascade in the human body. Bleeding easily when bruised is called abnormal bleeding. It can be due to blood clotting disorder, wherein the body is unable to produce clotting factors to stop bleeding. Hemophilia A and B, along with factor II, V, VII, X, or XII deficiencies are blood disorders identified with abnormal bleeding issues or blood coagulating issues. Over 440,000 people are suffering from hemophilia globally; of these 75% are affected in less developed and developing countries. This ever-increasing disease burden of blood clotting disorders is expected to drive the market during the forecast period.
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The global hemostasis diagnostic analyzers and reagents market can be segmented based on product type, end-user, and region. In terms of product type, the market can be bifurcated into analyzers and reagents. Based on end-user, the global hemostasis diagnostic analyzers and reagents market can be classified into hospitals/clinics, independent diagnostic laboratories, home care settings, and others. In terms of region, the global hemostasis diagnostic analyzers and reagents market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East Africa. North America is projected to be the most lucrative market for hemostasis diagnostic analyzers and reagents. Increase in diagnostic facilities, rise in reported cases of coagulation disorders, are projected to drive the market in the region. Rise in prevalence of cardiovascular diseases, deep vein thrombosis, and genetic and acquired blood clotting disorders is anticipated to propel the hemostasis diagnostic analyzers and reagents market in North America.
Furthermore, technological advancements, increased access to health care services, and entry of new manufacturers are the other factors likely to augment the market in the region during the forecast period. High prevalence of blood clotting disorders in countries in Western Europe and increase in awareness about hemostasis diagnostics in the region are anticipated to drive the hemostasis diagnostic analyzers and reagents market in the Europe. Asia Pacific is one of the fastest developing regions in the world. High per capita income has increased the consumption of diagnostic and therapy products in the region. The rapid growth of the market in the region can be attributed to the numerous government initiatives undertaken to improve the health care infrastructure.
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The market in the region is estimated to expand rapidly as compared to other regions due to shift in base of pharmaceutical companies and clinical research industries from developed to developing markets such as China and India. Development of health care infrastructure, rise in population, boom in the biotechnology industry, and increase in burden of diseases requiring diagnostic tests contribute to the growth of the hemostasis diagnostics market in Latin America. Additionally, proximity to the U.S. and better distribution network propel the hemostasis diagnostics market in the region.
Major players operating in the global hemostasis diagnostic analyzers and reagents market include Abbott Laboratories, Alere, Inc., Thermo Fisher Scientific, Inc., F. Hoffmann-La Roche Ltd., Nihon Kohden Corporation, Sysmex Corporation, and Siemens Healthineers.
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