Point-of-Care Coagulation (POCC) Testing Devices Market to Reach USD 3.23 Billion in 2032; Gradual Move Toward Home Healthcare Devices to Proliferate the Market Growth
May 15, 2024 | HealthcareThe global point-of-care coagulation (POCC) testing devices market size was valued at USD 1.76 billion in 2023. The industry is expected to expand from USD 1.88 billion in 2024 to USD 3.23 billion by 2032, exhibiting a CAGR of 7.0% over the study period. “Point-of-Care Coagulation (POCC) Testing Devices Market Size, Share & Industry Analysis, By Device Type (Anticoagulation Monitoring Devices {Prothrombin Time/International Normalized Ratio (PT/INR) Testing Devices, Activated Clotting Time (ACT), and Activated Partial Thromboplastin Time (aPPT)}, Platelet Function Monitoring Devices, Viscoelastic Coagulation Monitoring Devices {Thromboelastography (TEG) and Rotational Thromboelastometry (ROTEM)}, and Others), By End User (Hospitals & Clinics, Homecare, and Others), and Regional Forecast, 2024-2032”
Point-of-care coagulation (POCC) testing devices offer accurate and fast hemostatic function outcomes in patients with coagulopathies or post-operative or preoperative conditions. The rising emphasis of companies on the upgradation or optimization of existing products through deploying novel technologies is fostering the market growth.
The leading companies in the market observed a fall in their revenues amid the COVID-19 pandemic. In addition, the implementation of lockdowns led to a huge decrease in non-emergency surgical procedures worldwide, restricting the deployment of coagulation testing devices during post-operative or perioperative conditions.
Werfen Received Clearnace Of 510(K) For GEM Hemochron 100
In January 2022, Werfen received clearnace of 510(k) for GEM Hemochron 100 which is a whole blood hemostasis system from the U.S. Food and Drug Administration (FDA). GEM Hemochron 100 system delivers fast acting activated clotting time (ACT) that, in minutes informs patient-management decisions and helps improve workflow at the point of care (POC).
Growing Patient Pool with Bleeding Disorders to Impel the Demand for the Product, Driving the Market Expansion
The point-of-care coagulation (POCC) testing devices market growth is driven by a rise in the patient pool with bleeding disorders, which is poised to surge the demand for the product. According to a 2020 report published by the World Federation of Hemophilia (WFH), a total of 241,535 people were affected by hemophilia A or B type unknown across the globe during the study period from 1999-2020.
However, the prohibitive cost of the product may impede its adoption in emerging countries, hampering the market growth.
Prominent Companies Emphasize Product Development to Broaden Their Portfolio
Werfen, Helena Laboratories Corporation, Koninklijke Philips N.V., Medtronic, CoaguSense, Inc., and Haemonetics Corporation are some of the key players in the point-of-care coagulation (POCC) testing devices market. Many companies are focusing on different competitive strategies, such as joint ventures, partnerships, mergers & acquisitions, and others. Product development strategies are also being leveraged by leading players for the expansion of their portfolio.
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Key Industry Development
- July 2023 – ARKRAY USA, Inc., a prominent resident and diabetes care solutions provider, unveiled the Assure PT Care PT/INR Monitoring System by joining forces with CoaguSense, Inc. This strategy was aimed at broadening and diversifying the product portfolio.
List of Key Players Profiled in the Market Report: -
- Werfen (Spain)
- CoaguSense, Inc. (U.S.)
- Helena Laboratories Corporation (U.S.)
- Medtronic (Ireland)
- Abbott (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Siemens Healthcare AG (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- HemoSonics, LLC (U.S.)
- Haemonetics Corporation (U.S.)
Further Report Findings:
- North America market for point-of-care coagulation (POCC) testing devices secured the largest share in 2023, owing to the robust presence of a large patient pool with bleeding disorders.
- Europe occupied the second-largest share in 2023 owing to the release of coagulation testing devices on account of technological developments in point-of-care diagnostics.
- Based on device type, the point-of-care coagulation (POCC) testing devices market is categorized into viscoelastic coagulation monitoring devices, platelet function monitoring devices, anticoagulation monitoring devices, and others. The anticoagulation monitoring devices segment registered the largest share in 2023. The anticoagulation monitoring devices incur comparetively lower cost, which is leading to their higher uptake among healthcare facilities, driving the segment expansion.
- In terms of end user, the market is segregated into homecare, hospital & clinics, and others. The hospital & clinics segment witnessed the largest point-of-care coagulation (POCC) testing devices market share in 2023. The comparatively higher uptake of advanced technology in hospital & clinics settings is fueling the segment growth.
Table of Segmentation
ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2019-2022 |
Growth rate | CAGR of 7.0% from 2024-2032 |
Unit | Value (USD billion) |
Segmentation
| By Device Type
|
By End User
| |
By Geography
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- 2023
- 2019-2022
- 136
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