Coagulation analyzers market size is forecasted to witness a high growth from 2018 to 2024.
Coagulation analyzers market size should grow significantly due to rising incidences of blood clotting disorders over the globe. Blood clotting is a result of vitamin K deficiency and hereditary factors. In addition to this, increase in demand for these analyzers is due to accurate optical detection of blood clots. Moreover, lifestyle changes and nicotine addiction have an adverse effect on health that can lead to neurological and heart related diseases improving market demand for coagulation analyzers. Increasing prevalence of hemophilia has further supported market growth.
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Increase in healthcare expenditures by developed countries is the critical reason for an increase in market demand. Advancements in technology have boosted market growth due to efficient detection of blood clots by high precision devices and equipment. Increasing geriatric population prone to various diseases elevates demand for coagulation analyzer devices. Moreover, increase in number of diagnostic centers and hospitals that help in detection of blood clots are one of the major reasons for supporting market growth.
Lack of skilled operators for detection of blood clots may result in errors in the diagnosis. Stringent government regulations may have an impact on market growth. Competition amongst small players in the market can hamper quality of devices, thereby lowering its demand. These reasons are likely to lower opportunities for market growth.
Standalone analyzer is the growing largest segment contributing to highest market share amongst the other analyzers. Due to its efficiency and portability standalone analyzers is highly preferred. Increased automation gives an ease over operations thereby reducing human errors leading to more accurate results with high reliability.
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Increase in clinical laboratories and diagnostic centers have generated a huge demand for coagulation analyzers market owing to rising number of patients with blood clots. High number of patients visiting the clinical laboratories for diagnosis has propelled market demand significantly.