Albany, NY -- (SBWIRE) -- 03/28/2018 -- A TMR report has envisioned the global hemostasis diagnostics market to grow at an 8.3% CAGR during the forecast tenure 2017-2025. By the final forecast year, the market could earn a revenue of US$3.9 bn. In 2016, it had bagged an around US$1.9 bn. By end user, the hospitals/clinics segment has been predicted to exhibit a larger demand in the coming years. By region, the market could gain growth on the back of the rise of North America as a leading region. In 2016, North America had secured earnings worth a US$0.7 bn.
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Rising Prevalence of Blood Clotting Disorders Emerges as Prominent Growth Factor
The world hemostasis diagnostics market has been foreseen to gain a whole lot of significance in the near future on account of the swelling occurrence of blood clotting disorders. Blood disorders related to issues such as blood coagulation and abnormal bleeding could include hemophilia A and B alongside factors II, V, VII, X, or XII deficiencies. The market has been envisaged to enjoy a positive bearing due to the development of a wide array of products taking cue from advancements in hemostasis technology. The advent of various products in the market has allowed clinicians to execute a range of tasks such as detecting clotting factors and quantifying optical density of clots in a cuvette.
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Lack of Specificity and Sensitiveness of Standard Blood Clotting Assays Demeans Demand
Among most specialists, hemostasis laboratory testing has been a major concern. This could be because of platelet aggregation, activated partial thromboplastin time (APTT), prothrombin time (PT), and other standard assays for clotting not being specific and sensitive to a number of hemostasis disorders. Furthermore, laboratory diagnostics only concerns the blood composition cause of thrombosis which could also arise due to disorders associated with blood flow and vessel wall.
However, the demand for advanced bleeding control techniques, especially for the rising geriatric population has been prophesied to set the tone for a valuable growth of the international hemostasis diagnostics market. As per the World Health Organization (WHO), the global geriatric population could increase to a 1.5 bn by 2050. Moreover, changing lifestyle in emerging countries and the snowballing prevalence of cancer, diabetes, and cardiovascular disease could create ample of opportunities in the foreseeable future.
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The global hemostasis diagnostics market has been prophesied to bear a largely consolidated characteristic with a high level of rivalry prevailing among top players operating in the industry. According to Transparency Market Research (TMR), one of the most significant growth strategies observed in the market could be research and development. This has been expected to help players to focus more on the introduction of groundbreaking diagnostic techniques. There could also be a rising focus on the expansion of regional outreach, which has been anticipated to call for a tactical involvement of players in strategic alliances and partnerships. Alere Inc., Thermo Fisher Scientific Inc., and Abbott Laboratories could be among the key players of the market.