Point-of-Care Coagulation Testing Devices Market s estimated to be ~US$ 1.7 Bn in 2030

Healthcare Companies Expedite Hemostasis Management with Advanced Point-of-Care Coagulation Testing Devices

Healthcare companies in the point-of-care coagulation testing devices market are developing analyzers that meet the quality control standards laid down by central laboratories. They are increasing expertise in the development of POC (point-of-care) devices that generate timely results. With the surging trend of self-monitoring, patients can be assured of lab-accurate PT/INR (Prothrombin Time/International Normalized Ratio) results, with advancements in POC coagulation testing systems. As such, healthcare companies in the point-of-care coagulation testing devices market are developing mobile handheld devices that help improve outcomes and serve the convenience of patients who have undergone major surgeries.

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Several advantages of POC coagulation testing are adding value for patients regarding hemostatic management, both, in and out of the hospital. Currently, manufacturers in the point-of-care coagulation testing devices landscape are creating the increased availability of POC devices for hospitals, since hospitals hold the highest revenue share amongst all the end-users in the landscape, with a value of ~US$ 500 million in 2018. Thus, during emergency cases in ICUs, coronary care units, and during surgeries, POC devices help provide immediate and actionable results to healthcare providers. As such, healthcare companies in the point-of-care coagulation testing devices market are tapping into incremental opportunities by expediting hemostasis management amongst patients in a range of settings, such as outpatient clinics, physician offices, pharmacies, and healthcare centres. For instance, in April 2018, Roche – a Swiss multinational healthcare company, announced the launch of CoaguChek® Vantus system, a self-testing device, enabled with the wireless reporting of INR results.

Miniaturized POC Devices and Infrared Spectroscopy Help in Assessing Response to Anticoagulants

The alarming prevalence of coagulation amongst patients, worldwide, has persuaded manufacturers in the point-of-care coagulation testing devices market to innovate improved diagnostic analyzers. Automated analyzers are being increasingly used to test latex agglutination and enzymatic immunoassays. With increased advancements in technology, POC devices are becoming more and more mainstream for the routine diagnosis of hemostasis disorders. As such, POC devices are gaining popularity amongst patients, since they alleviate the hassle of increased costs and loss of blood in traditional hemostasis management techniques.

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Manufacturers in the point-of-care coagulation testing devices market are focusing on technological advancements that involve the introduction of acoustic waves in miniaturized POC devices and infrared spectroscopy. Miniaturized POC devices are novel technology, capable of using only a small amount of citrated whole blood to derive outcomes. These devices provide results within seconds and are useful for healthcare providers to study the effects of anticoagulants amongst patients. Likewise, healthcare companies in the point-of-care coagulation testing devices market are offering fast turnaround time through infrared spectroscopy devices, which is an important value addition to the category of handheld POC coagulometers. It has been found that these devices may be useful in assessing coagulation response to any direct oral anticoagulants consumed by patients.

Increasing Trend of Home Care Services and Self-Monitoring Reviving Market Growth

The point-of-care coagulation testing devices market is estimated to grow at a healthy CAGR of ~6% over the forecast period. However, certain challenges in the landscape are likely to negatively influence market growth.

There has been a general debate whether point-of-care testing is more reliable than the coagulation tests conducted at central laboratory. After several clinical trials, it was found that, the test results at central labs are more reliable than the results obtained from POC devices. It was also found that, the results obtained from POC devices are less conclusive as compared to those obtained from central labs. This phenomena is anticipated to impede market growth to some extent. Vice versa, it has been found that, laboratory plasma coagulation tests such as INR and aPTT (Activated Partial Thromboplastin Time) are not sufficient to diagnose specific coagulation conditions. Hence, patients are turning toward POC testing to overcome the limitations of traditional approaches catering to hemostatic therapy. Healthcare companies in the point-of-care coagulation testing devices market are increasing their efforts to demonstrate the success of POC testing after major surgeries.

Although the results acquired from labs are more reliable, the trend of home care services and self-monitoring is reviving market growth. Hence, healthcare companies in the point-of-care coagulation testing devices market are innovating new offerings in the healthcare space.

Analysts’ Viewpoint

There is the growing need for rapid answers in the POC-based monitoring of PT for patients undergoing hemorrhagic surgical procedures. New advancements in the point-of-care coagulation testing devices market include the introduction of laser speckle rheology (LSR), a novel handheld POC device that performs several coagulation tests. LSR also assesses tissue viscoelasticity from light scattering patterns, using only small amounts of blood to generate results within minutes.

However, healthcare companies need to focus on improving the accessibility of POC devices for patients in low- and middle-income countries. They should recommend to the WHO to implement a practical framework that strengthens the health systems in such countries, with POC diagnostic services. Companies should invest in their production capabilities in Asia Pacific, since the region is projected to witness exponential market growth.

Point-of-Care Coagulation Testing Devices Market: Overview

The point-of-care coagulation testing devices market for the historical period of 2017–2018 and forecast period of 2019–2027, the incorporation of various analysis technologies into a single POC platform provides lucrative opportunities for the growth of the global point-of-care coagulation testing devices market during the forecast period. In 2016, Abbott launched ‘i-STAT Alinity’, a next-generation, handheld coagulation testing system that analyzes various analytes and delivers results within two to 10 minutes.

Globally, revenue generated by the point-of-care coagulation testing devices market is estimated to be ~US$ 1.7 Bn in 2019.

The global point-of-care coagulation testing devices market is expected to expand at a CAGR of ~6%, in terms of value, between 2019 and 2027.

Increase in Usage of POCT in Developed Countries: A Key Driver 

Various point-of-care assays are available for a number of coagulation tests. These assays are easy to perform and have a faster turnaround time than their laboratory counterparts. Portability, easy usage, and connectivity are the factors driving the demand for POC testing.

Immediate results of coagulation testing are needed to control the adverse effects of anticoagulation therapy; this is met by POC tests. The self-testing of prothrombin by patients at home is popular in several developed countries. It provides accurate and quick results. This is projected to boost the growth of the global point-of-care coagulation testing devices market during the forecast period.

North America and Europe are likely to grab the attention of all the vendors in the global point-of-care coagulation testing devices market. Based on revenue, these regions hold the top spot, owing to availability of low-cost devices, increase in chronic diseases, and increase in popularity of portable testing equipment.

In the North America point-of-care coagulation testing devices market, the U.S accounted for ~65% share, due to the rise in cases of chronic diseases and increasing uptake of early disease detection procedures.

Rapid Expansion of Tests and Surge in Usage of Anticoagulant Therapy: The Latest Trend 

Point-of-care coagulation testing is majorly performed at the patient’s site. It provides rapid results of tests such as PT/INR, partial thromboplastin, and activated partial thromboplastin, as compared to other laboratory testing techniques.

In addition, point-of-care offers an immediate and convenient patient diagnosis option. The PT/INR test is primarily used to measure the blood clotting time of the patients. Activated partial thromboplastin time (also known as kaolin cephalin clotting time) is also used to measure the coagulation cascade, i.e. blood clotting time of the individual. The only difference between PT/INR, PTT, and APTT is the addition of an activator in the activated partial thromboplastin time in order to speed up the blood clotting time and results. For example, the average range for PTT clotting time is 60 to 70 seconds, while APTT clotting time is approximately 30 to 40 seconds.

Anticoagulant therapy includes various conventional as well as new oral rapid-acting drugs used by patients to treat conditions such as deep vein thrombosis, pulmonary embolism, and genetic clotting disorders. The treatment needs to be monitored regularly and is usually recorded in the anticoagulant therapy record book.

Rise in Prevalence of Blood Clotting Disorders and Surge in Usage of Anticoagulant Therapy to Propel Market

Bleeding easily when bruised is called abnormal bleeding. It can be due to disorders in the blood clotting system, blood vessels, or platelets. This ever-increasing disease burden of blood clotting disorders is expected to drive the point-of-care coagulation testing devices market during the forecast period. According to CDC, around 900,000 people could be affected in the U.S. each year by venous thromboembolism. It is suggested that 60,000 to 100,000 people in the country succumb to this disease each year.

Point-of-Care Coagulation Testing Devices Market: Competitive Landscape

Detailed profiles of manufacturers and distributors in the point-of-care coagulation testing devices market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies.

Key companies operating in the point-of-care coagulation testing devices market are acquiring parallel companies to strengthen their market position in the global point-of-care coagulation testing devices market. For instance, in April 2017, Abbott acquired Alere, and this acquisition strengthened Abbott’s position in the point-of-care testing segment.

Key players operating in the global point-of-care 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.

Key Questions Answered in the Point-of-Care Coagulation Testing Devices Market Report

• How do research & development and new technological innovation provide scope of growth in the point-of-care coagulation testing devices market?
• How are alliances and partnerships between players widening the scope of new lines of tests for point-of-care coagulation testing devices?
• What are the revenue share projections of key segments under various criteria in the point-of-care coagulation testing devices market over the forecast period?
• Which segment is likely to register leading revenue until the end of the forecast period in 2027?
• How is the evolving healthcare system in developing countries of Asia Pacific having an impact on the overall point-of-care coagulation testing devices market?

Point-of-Care Coagulation Testing Devices Market – Segmentation

Product

• Instruments / Analyzers
• Consumables and Accessories

Method

• PT/INR
• Viscoelastic Coagulation Monitoring
• Others (ACT, aPTT, etc.)

End User

• Hospitals
• Diagnostic Laboratories
• Clinics
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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