Growing Adoption of Point-of-Care Testing to Open New Avenues for the Thromboelastography Market

Market Overview:
Thromboelastography is a process that measures the viscoelastic properties of clot formation and clot lysis during whole blood clotting. It provides information on the overall clot strength, clot formation kinetics, and fibrinolytic activity. Thromboelastography finds widespread applications in cardiovascular surgery, liver transplantation, trauma, and obstetrics. It helps clinicians to better manage patients with complex coagulopathies. Key players in the market are offering point-of-care devices with extended features to increase adoption in clinical settings.
Market Dynamics:-
Rising prevalence of cardiovascular diseases and trauma cases is expected to drive the thromboelastography market growth over the forecast period. According to the World Health Organization, CVDs are the leading global cause of death, accounting for over 17 million deaths annually. Thromboelastography helps clinicians to monitor hypercoagulable states associated with CVDs and allows targeted hemostatic management. Furthermore, growing demand for minimally invasive procedures and shift towards personalized medicine is augmenting the adoption of point-of-care thromboelastography devices. Major players are focusing on developing advanced devices and software with features such as automated analysis and wireless connectivity to streamline workflow in clinical settings. Ongoing R&D for new applications in fields of obstetrics, liver transplantation, and cancer management also supports market expansion.
Segment Analysis:-
Thromboelastography Market is segmented on the basis of product type, application, end user and region. Based on product type, the thromboelastography market is segmented into Systems, reagents and accessories. Systems segment dominates the market owing to high prices of automated devices. The reagents and accessories segment is expected to grow at a high CAGR during the forecast period.
PEST Analysis:-

  • Political: Changes in healthcare policies worldwide regarding usage of POC coagulation testing devices are expected to impact the market positively.
  • Economic: Increasing healthcare spending and rising per capita income in emerging economies will boost market growth.
  • Social: Growing geriatric population suffering from coagulation disorders and rising awareness about POC coagulation testing devices are fueling the market.
  • Technological: Advancements in automated thromboelastography systems with enhanced features are supporting market growth.

Key Takeaways:-
The Global Thromboelastography Market Demand is expected to witness high growth, exhibiting a CAGR of 7.1% over the forecast period, due to increasing prevalence of cardiovascular diseases and trauma cases.
North America dominated the market in 2023 owing to well-established healthcare systems and rising number of surgical procedures in the region. Asia Pacific is projected to witness the fastest growth rate during the forecast period due to growing healthcare infrastructure, increasing healthcare expenditure and rising incidences of bleeding disorders in countries such as China and India.
Key players operating in the Thromboelastography market are Lepu Medical Technology (Beijing) Co.,Ltd., Render Biotech Co., Haemonetics Corporation, TA Instruments, HemaCore LLC, 5-Diagnostics, Xenometrix AG, Framar Hemologix srl, Instrumentation Laboratory, Medirox AB, Diagnostica Stago, Life Diagnostica, SYCOmed e.K., Nordic Biomarket, and Shenzhen Ultra-Diagnostics Biotec. Co., Ltd. Major players are focusing on launching innovative automated coagulation analyzers with advanced features to strengthen their market position.
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