The global market for coagulation testing displays a moderately competitive scenario with regards to the market players. The leading market players have a proven history of success in the production, manufacture, and sale of coagulation testing devices, and hence, it is impossible to challenge the integrity and strongholds of these players. Furthermore, these market players have been famous for their constant efforts towards the development of better products and services.
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It has come to light that the leading market players make successive investments in research and development in order to keep their growth prospects brighter than the rest of the players. The smaller market players have also acquired a decent market share but it is substantially smaller than the market share captured by the leading players. Some of the other reasons behind the success of the leading market players in the global coagulation testing market are better distribution channels, production efficiency, market knowledge, and consumer loyalty. The medium-sized players are aiming to come in the zone of large market players by tying up with large healthcare centers and hospitals. Some of the key players in the global market for coagulation testing are F. Hoffmann-La Roche Ltd., Siemens Healthineers, Abbott Laboratories, SYSMEX CORPORATION, and Helena Laboratories, Inc. These market players have a healthy graph of growth and they have learned from years of experience in the market for coagulation testing.
The global market for coagulation testing is projected to accumulate net revenues worth US$3,715.8 mn by the end of 2025 while the global market had a net worth of US$1,730 mn in 2016. Based on these projections, it can also be estimated that the global market for coagulation testing would expand at a CAGR of 9% over 2017 to 2025.
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Coagulation testing is performed for a variety of reasons relating to both, excessive bleeding and clotting of blood. The formation of blood clots may seem like a minor problem, but it can magnify into major disorders and diseases that can affect the normal functioning of the body. Owing to the aforementioned factors, the demand within the global market for coagulation testing has been escalating over the past decade. Cardiovascular disorders are also a dire consequence of formation of clots in the arteries, and it is imperative to diagnose these clots in time to prevent severities. This has also driven demand within the global market for coagulation testing and has given a push to the growth of vendors. The treatment of several bleeding disorders also necessitates the use of coagulation testing, thus, creating growth spaces within the global coagulation testing market.
The demand within the market for coagulation testing is the highest in North America, majorly due to the detailed approach of the healthcare professionals in the region. Besides North America, Asia Pacific has also been attracting commendable demand for coagulation testing in recent times. This elevation in demand can be attributed to a range of factors including rising population, increasing investments in healthcare, and skill and expertise of the medical practitioners.
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