New York, USA, Sept. 15, 2021 (GLOBE NEWSWIRE) -- As per the latest report by Research Dive, the global coagulation testing market is predicted to witness a rise in revenue from $2,241.4 million in 2018 to over $3,814.3 million by 2026 at a CAGR of 7.1% from 2019-2026. The in-depth report contains a brief overview of the current scenario of the market, including other aspects such as growth and restraining factors, dynamics of the market, challenges, and opportunities during the forecast period. The report also provides an estimate of the market figures, which makes it easier and simplifies the process for the new participants to understand the real-time scenario of the market.
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Market Dynamics
Coagulation testing is known for its multiple benefits and is used extensively by professionals in hospitals and clinical laboratories. This is done primarily in the process of diagnosis for any growing thrombosis, which has contributed to the growth of the market. Patients who are undergoing treatments for blood disorders and even cardiovascular illnesses are expected to take up a coagulation test to determine the blood flow and clotting ability of the person’s body. This increase in awareness along with rising technological advancements are predicted to add to the growth of the market in the estimated timeframe.
The rapid spread of the coronavirus led to several industries being affected immensely. But, the coagulation testing market experienced a rise in demand during this time period. The process was used to determine the platelet count, prothrombin tome (PT) of those who had contracted COVID-19. These factors are also expected to assist in the rapid growth of the market in the forecast period.
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Factors Affecting the CAGR Figures Pre and Post the Pandemic
The report also provides a description of the CAGR figures that were observed at the start of the pandemic and what they may result in, in the post pandemic era. It states that the CAGR pre COVID-19 stood at 5.9%, while the estimation for post COVID-19 CAGR is predicted to increase to over 7.1% during the forecast period.
Factors Causing Change in the Market Size in Pre and Post Covid-19
The report consists of a detailed description of how the pandemic had a positive effect on the market. The global market was predicted to garner revenue of $2,501.5 million in the pre-pandemic time period, but the requirement of coagulation testing for the diagnosis of patients helped boosting the market growth. This resulted in an increase in the revenue estimations for the post-pandemic time which is expected to be over $2,555.1 million. To add further, the coagulation testing method helps determine the D-dimer levels which also determines the chances of mortality of an individual upon contracting diseases such as COVID-19. Additionally, government initiatives which have ensured the introduction of advanced technology such as cloud computing and artificial intelligence into the medical sector have also helped provide accurate results. Due to these factors, the market is anticipated to grow even further in the analysis period.
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Key Market Players
The report also provides a list of key players whose various initiatives have been contributing to the growth of the global coagulation testing market. These include,
- Thermo Fisher Scientific, Inc
- Micropoint Biosciences
- F. Hoffmann-La Roche Ltd
- Abbott
- Danaher
- Helena Laboratories Corporation
- Medtronic
- Nihon Kohden Corporation
- Sysmex Corporation, BD.
For instance, in July 2020, Sysmex Europe GmbH launched two new automated blood coagulation analyzers termed as – CN-6000 and CN-3000. Both the devices require minimum quantity of plasma of 65% to provide accurate results. Additionally, they are also devoid of manual invention which also assists in speeding up the process as well.
Post-COVID 19 Predictions
The report also provides an account of how the global coagulation testing market is predicted to grow further in the post pandemic timeline. Many industry experts are trying to work on mergers & acquisitions, and various other measures to help the industry witness exponential growth in the upcoming years.
The report also provides an overview of many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
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