How Will the Hemostasis Diagnostic Devices And Equipment Market Grow? Key Trends and Opportunities for 2025 and Beyond
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How Will the Hemostasis Diagnostic Devices And Equipment Market Grow Over the Forecast Period Based on Its Expected CAGR?
Recently, there has been a rapid expansion in the market size of hemostasis diagnostic devices and equipment. This market is projected to increase from $5.29 billion in 2024 to $6.18 billion in 2025, with a compound annual growth rate (CAGR) of 16.8%. Factors that contributed to the market growth during the historic period include clinical diagnostics, surgical procedures, anticoagulant therapy monitoring, and the presence of hemophilia and bleeding disorders.
In the following years, it’s predicted that the market size of hemostasis diagnostic devices and equipment will experience rapid expansion. The anticipated growth sees it augmenting to $10.36 billion in 2029 with a compound annual growth rate (CAGR) of 13.8%. Factors contributing to growth in the forecast period include the aging population, presence of cardiovascular and chronic diseases, personalized medicine, and a rise in surgical procedures. Noteworthy trends during the projected period encompass point-of-care testing, the utilization of automation and robotics, the discovery of biomarkers, telemedicine, and remote monitoring.
What Drivers Are Shaping the Growth of the Hemostasis Diagnostic Devices And Equipment Market?
The surge in disease diagnosis among the elderly populations, which in turn escalates the prevalence of cardiovascular disease (CVD) operations utilizing hemostasis tools, is becoming more prevalent. This is predominantly due to a heightened rate of disease occurrence as people age, leading to a greater proportion of surgeries being conducted on older people. Hemostasis gadgets have proven to be extremely effective in accelerating the body’s natural clotting process. They are also capable of overseeing anticoagulation and providing guidance for transfusion treatment during operations. As indicated in the American Heart Association’s report, Americans over the age of 80 are at a significant risk of encountering cardiovascular disease (CVD) with approximately 83% of men and 87.1% of women likely to experience some form of CVD. That said, the wide-spread usage of the hemostasis device has been able to enhance patient comfort and the success rate of operations.
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Who Are the Dominant Players Expanding Their Reach in the Hemostasis Diagnostic Devices And Equipment Market?
Major companies operating in the hemostasis diagnostic devices and equipment market include C. R. Bard Inc., Baxter International Inc., Pfizer Inc., Johnson & Johnson, Abbott Laboratories, Beckman Coulter Inc., Becton Dickinson and Company, Chrono-Log Corporation, CSL Behring LLC, F. Hoffmann-La Roche Ltd., Grifols S.A., HemCon Medical Technologies Inc., Integra Life Sciences Corporation, Medtronic plc, Siemens AG, Thermo Fisher Scientific Inc., Trinity Biotech plc., Ethicon Inc., Boston Scientific Corporation, Olympus Corporation, Cook Group Inc., Halyard Health, Medline Industries Inc., ConMed Corporation, Moog Inc., Argon Medical Devices Inc., B. Braun Interventional Systems Inc., Bio-Rad Laboratories Inc., CareFusion Corporation, Danaher Corporation, DemeTECH Corporation, Diagnostica Stago SAS, Dolphin Sutures, EndoEvolution LLC, Haemonetics Corporation, Internacional Farmacéutica S.A. de C.V., Merit Medical Systems Inc., Quidelortho Corp, STAGO, Stryker Corporation
Which Upcoming Trends Are Set to Influence the Hemostasis Diagnostic Devices And Equipment Market’s Path Forward?
The hemostasis diagnostic device and equipment market has seen advancements with the introduction of new technology aimed at enhancing the quality and success rate of surgeries. This has seen the inclusion of devices such as collagen vascular hemostasis devices. Collagen is a primary structure protein present in skin and other connective tissues, and is commonly used in cosmetic surgeries in its purified form. Now, it has found its use in the hemostasis diagnostic devices market. Patients often face immobilization immediately after femoral surgery, causing increased discomfort. To mitigate this, collagen-based closure devices have been introduced. According to a survey of 698 Angio-Seal closures by the American Journal of Neuroradiology, the use of the Angio seal cuts down the average mobilization time by roughly 15 minutes, without introducing significant complications. Angio seal is a kind of collagen hemostasis device that enhances hemostasis time and improves patient mobilization.
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How Are Market Segments in the Hemostasis Diagnostic Devices And Equipment Industry Positioned for Long-Term Growth?
The hemostasis diagnostic devices and equipment market covered in this report is segmented –
1) By Product: Analyzers, Coagulation Instrument, Other Hemostasis Instruments, Reagents and Kits
2) By Device Technology: Automated, Semi-Automated, Manual
3) By End User: Hospitals, Clinics, Independent Diagnostic, Laboratories, Other End Users
Subsegments:
1) By Analyzers: Hematology Analyzers, Platelet Function Analyzers, Thromboelastography (TEG) Analyzers
2) By Coagulation Instruments: Prothrombin Time (PT) Instruments, Activated Partial Thromboplastin Time (aPTT) Instruments, Fibrinogen Testing Instruments, Thrombin Time (TT) Instruments
3) By Other Hemostasis Instruments: Blood Clotting Time (BCT) Instruments, Bleeding Time (BT) Test Devices, Hemostatic Forceps and Clips
4) By Reagents and Kits: Coagulation Reagents, Blood Collection Kits, Point-of-care Testing Kits, Thrombosis Kits
Which Regions Are Setting the Pace for Hemostasis Diagnostic Devices And Equipment Market Growth?
North America was the largest region in the global hemostasis diagnostic devices and equipment market in 2023. Asia-Pacific was the second-largest region in the hemostasis diagnostic devices and equipment market. The regions covered in the hemostasis diagnostic devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Are the Defining Features of the Hemostasis Diagnostic Devices And Equipment Market?
Hemostasis diagnostic devices and equipment are specialized tools used to assess the blood clotting process and diagnose bleeding disorders. These devices help healthcare professionals monitor and evaluate various aspects of hemostasis, such as clot formation and dissolution.
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