Rising Prevalence of Cancer & Demand for New Diagnostic Techniques Accelerate the Blood Coagulation Testing Market

Blood Coagulation Testing market-Overview

The Blood Coagulation Testing Market is expected to reach USD 3.89 billion by 2030 at 5.7% CAGR during the forecast period 2023-2030

Blood coagulation is a process of blood clot formation. In case of patients suffering from chronic and fatal diseases such as haemophilia, liver disease, thrombophilia the process of blood clotting is found is hindered. Blood coagulants, are natural and synthetic substances that are used to stop blood resulting from an injury or surgery. The market for blood coagulation testing is found to exhibit positive growth owing to the rising prevalence of cancer, and increasing demand screening test for chronic diseases. However, high cost of diagnostic devices is a major factor hindering the growth of the market.

Key players in the Blood Coagulation Testing market                                                          

• Hoffmann-La Roche Ltd. (Europe), Alere Inc. (U.S.), Siemens Healthcare Private Limited (Europe), Accriva Diagnostics (U.S.A.), CoaguSense, Inc. (U.S.), HomoSonics LLC. (U.S.), iLine Microsystems. (Europe), Instrumentation Laboratory (U.S.), Sienco, Inc. (U.S.), SenGenix Inc. (U.S.), and Bio/Data Corporation (U.S.)

Key developments

Strategic approaches adopted help the major players to sustain their growth in the market and develop their business in various geographical areas across the globe. Agreements and collaborations, mergers and acquisitions, and new product launches are various strategies followed by the key players.

Pfizer

July 2016: Pfizer and Western Oncolytics announce immuno-oncology research collaboration. This collaboration was initiated with the aim of investigating novel oncolytic virus technology. Under terms of agreement, Pfizer and Western Oncolytics will collaborate on preclinical, clinical development of WO-12 through Phase I trials. Financial terms of agreement are not disclosed.

June 2016: Pfizer completed the acquisition of Anacor Pharmaceuticals. This acquisition has a motive for Pfizer, so that the company can accelerate their shared commitment to help patients with inflammatory disease, an area of high unmet medical need.

• Hoffmann-La Roche Ltd.

April 2017: F. Hoffmann-La Roche Ltd. received 510(k) clearance from the U.S. FDA for the CINtec Histology test. This test is the only clinically validated p16 biomarker test. The CINtec Histology test will help physicians make informed decisions as to the best course of care for patients with high-grade pre-cancerous cervical disease.

March 2017: F. Hoffmann-La Roche Ltd.  launched CE-IVD launch of cobas HPV for use on the cobas 6800/8800 Systems for cervical cancer screening. With the powerful clinical benefits of the cobas HPV test, Roche now caters to the needs of both low-to-mid volume labs and high-throughput labs who want to consolidate a multitude of validated assays onto a single platform.

 August 2015: F. Hoffmann-La Roche Ltd. acquired GeneWEAVE to strengthen offerings in microbiology diagnostics. Roche will pay GeneWEAVE shareholdsers $190 million upfront and up to $235 million in contingent product related milestones.

Alere

August 2016: Alere opens new diagnostics manufacturing facility in India. By this expansion the Manesar facility will have capacity to double production to more than 300 million tests over time.

July 2015: Alere to sell BBI Group and acquisition of US diagnostics. The company (Alere) Continues to execute on core business strategy through agreement to sell bbi group and acquisition of U.S. diagnostics.

Global Blood Coagulation Testing Market

North America dominates the Americas blood coagulation testing market. North America is further segmented into the U.S. and Canada. The U.S. holds the major share of the market owing to a well-developed economy and the government support for research & development. South America is still a developing region in terms of the infrastructure and technology. 

As per the report published by the Centre for Disease Control and Prevention (CDC), in October 2017, around 22,000 males and 9000 females in the United States were diagnosed with liver cancer. Moreover, the report suggests that most of the liver cancer cases are related to the hepatitis B virus or hepatitis C virus and more than 4 million people are living with chronic Hepatitis B or chronic Hepatitis C in the United States

According to American Cancer Society, (2017) About 222,500 new cases of lung cancer (116,990 in men and 105,510 in women) and about 155,870 deaths from lung cancer (84,590 in men and 71,280 in women) in U.S. As per American Cancer Society’s (2017) estimated About 63,990 new cases of kidney cancer (40,610 in men and 23,380 in women) will occur and about 14,400 people (9,470 men and 4,930 women) will die from this disease. According to the WHO estimates, brain associated disorders are responsible for 4.5%-11% of all illnesses including low or high income economies.

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