The global point-of-care (POC) coagulation testing devices market size is expected to experience exponential growth by reaching USD 2.76 billion while exhibiting a CAGR of 7.2% between 2020 and 2027. This is attributable to the increasing focus on developing innovative devices and the growing demand for affordable healthcare services that is likely to surge the adoption of advanced POC coagulation testing devices worldwide. This information is published by Fortune Business Insights in its latest report, titled, “Point-of-Care (POC) Coagulation Testing Devices Market Size, Share & COVID-19 Impact Analysis, By Device Type (Anticoagulation Monitoring Devices (PT-INR, ACT, aPTT), Platelet Function Monitoring Devices, Viscoelastic Coagulation Monitoring Devices (TEG, and ROTEM), and Others); By End User (Hospitals & Clinics, Homecare, and Others), Regional Forecast, 2020-2027.” The report further mentions that the market stood at USD 1.55 billion in 2019.

For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/point-of-c...

List of the Companies Profiled in the Market:

Werfen (Barcelona, Spain)
CoaguSense, Inc. (California, United States)
Helena Laboratories Corporation (Texas, United States)
Medtronic (Dublin, Ireland)
Abbott (Illinois, United States)
Hoffmann-La Roche Ltd (Basel, Switzerland)
Siemens Healthcare GmbH (Munich, Germany)
Koninklijke Philips N.V. (Amsterdam, Netherlands)
HemoSonics, LLC (Virginia, United States)
Increasing Adoption of TEG Testing for COVID-19 Patients to aid in Market Exhibiting 9.9% Year-on-Year Growth in 2020

Several healthcare organizations are suggesting thromboelastography (TEG) testing for COVID-19 patients to prevent formation of blood clot. According to the study published by Economic Times, COVID-19 patients were more prone to suffer from venous blood clot, renal failure, and other complications. Therefore, the increasing adoption of advanced testing procedures is expected to bode well for the growth of the market amid the novel coronavirus. Moreover, the market is likely to exhibit an impressive CAGR of 9.9% in 2020.

Growing Demand for Affordable Healthcare Services to Propel Market Growth

According to the data by the American Society of Hematology, the total cost for the treatment of hemophilia in hospitals incurs between USD 300,000 to USD 500,000 in the U.S annually. This is likely to put an economic burden on patients in the emerging and less developed regions globally. Therefore, the growing demand for affordable healthcare systems is propelling the manufacturers to develop innovative point-of-care coagulation testing devices. Moreover, the development of portable testing devices to increase the efficiency and convenience of testing procedures is expected to boost the global point-of-care (POC) coagulation testing devices market growth during the forecast period.

SEGMENTATION

Anticoagulation Monitoring Devices Segment Held 81.0% Market Share in 2019

Based on device type, the anticoagulation monitoring devices segment held a market share of about 81.0% in 2019 and is expected to experience significant growth during the forecast period. This is attributable to the increasing demand for these devices due to their ability to produce faster and accurate test results worldwide.