Global POC Coagulation Testing Market 2019-2023| 6% CAGR Projection Over the Next Five Years | Technavio
August 7, 2019LONDON–(BUSINESS WIRE)–#Biotechnology–The global POC coagulation testing market is expected to post a CAGR of more than 6% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the global POC coagulation testing market size is the significant consumption of anticoagulant drugs. The consumption of anticoagulant drugs has been increasing by the patients facing a high risk of blood clots in blood vessels or atrial fibrillation that leads to heart attacks or strokes. Anticoagulant drugs can reduce the chances of atrial fibrillation-related heart strokes by about 75%. Medical practitioners prescribing anticoagulants also prescribe frequent blood coagulation testing, as it is mandatory for patients who are on anticoagulant medications. Thus, the growing consumption of anticoagulant drugs will increase the demand for POC coagulants testing market during the forecast period.
As per Technavio, the automation in POC coagulation testing products will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global POC coagulation testing market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global POC Coagulation Testing Market: Automation in POC Coagulation Testing Products
The POC coagulation testing market is witnessing the development of automated products. There is a surge in demand for these products as they enable automatic data uploading, faster turnaround time, and minimal human intervention in coagulation testing. Automation allows medical practitioners to automatically update data into hospital LIS, HIS, and electronic health records (EHRs). Thus, the automation is expected to be one of the key POC coagulation testing market trends that will fuel the market growth during the forecast period.
“Apart from the automation in POC coagulation testing products, other factors such as the applications of POC coagulation testing in blood management, and the growing demand from developing economies will have a significant impact on the growth of the POC coagulation testing market value during the forecast period,” says a senior analyst at Technavio.
Global POC coagulation testing Market: Segmentation Analysis
This market research report segments the global POC coagulation testing market by end-user (hospitals and clinics, and home care), and geographic regions (North America, Europe, Asia, and ROW).
North America led the POC coagulation testing market in 2018, followed by Europe, Asia, and ROW respectively. The dominance of the POC coagulation testing market share in North America can be attributed to the increasing prevalence of arterial fibrosis and the high consumption of anticoagulants in the region.
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