Global Activated Partial Thromboplastin Time Test to Witness Stellar Growth Rate in the Next 10 Years
The global activated partial thromboplastin time test market forecast will surpass $601.2 million by the end of 2026, at a CAGR of 6.8%, and has been rising from $353.0 million in 2018, according to Activated Partial Thromboplastin Time Test Market Analysis by Research Dive.
Activated Partial Thromboplastin Time Test Market Trends: Rise in the prevalence of cardiovascular diseases coupled with increase in the demand for thromboplastin test instruments the key drivers for the growth of the activated partial thromboplastin time test market Increase in the adoption of thromboplastin test in the point-of-care diagnostic centers and improvements in the healthcare infrastructure are projected to drive the market growth.
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The improvements in healthcare infrastructure support the accessibility of test instruments and easy available of coagulation testing devices is anticipated to boost the activated partial thromboplastin time (APTT) test market growth. Furthermore, there is a rise in the blood disorders with increasing age of people across the globe; they require regular blood check-up to determine common and intrinsic pathways of blood coagulation. Due to wide usage of APTT test devices, the market is projected to grow in the coming years.
Price of the treatment test coupled with dearth of skilled personal to perform APTT test are expected to hinder the growth of the market. Technological improvements in the activated partial thromboplastin time (APTT) testing instruments and key manufacturers concentrating on mergers & acquisitions to minimize the devices cost is anticipated to create ample investment opportunities in the activated partial thromboplastin time test market.
Instruments type segment will witness a noteworthy growth during the projected time. The growth is majorly because companies are increasing the R&D activities on diagnostic instruments to improve performance and accuracy of the instruments with low cost. The activated partial thromboplastin time test market for instruments product type is estimated to account for $289.8 million by 2026 at a 7.2% CAGR.
The market for point-of-care testing is projected to experience significant growth; it is anticipated to generate a revenue of $83.6 million by 2026 and is growing at a 7.7% CAGR. This growth is because of an increase in the number of point-of-care testing centers along with an increase in the population with age group above 60. The hospitals segment held the largest activated partial thromboplastin time test market size in 2018; it is estimated to reach $217.6 million by 2026, increasing at a growth rate of 6.5%. This is because of the growing usage of thromboplastin time test devices in the hospitals sector to treat patients for the analysis of hematological.
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Asia-Pacific market will witness the highest growth rate of 7.3% CAGR and is expected to register a revenue of $143.1 million by 2026. This growth is attributed to swift progress in healthcare along with people preferring the point of care diagnosis of hospitals. Due to this swift growth, the Asia-Pacific market is predicted to grow during the forecast time. The global activated partial thromboplastin time test market was dominated by Europe, it was registered for majority of the activated partial thromboplastin market share, which was 30.0% in 2018. This growth is owing to the presence of upgraded diagnostic infrastructure in Europe. The market for North America region is expected to generate a revenue of $156.3 million by the end of 2026 with a CAGR of 6.7% during the projected time period.
Top gaining participants in the activated partial thromboplastin time test market are
- Bio-Rad Laboratories, Inc.
- bioMérieux, Inc.
- Hoffmann-La Roche Ltd
- Beckman Coulter, Inc.
- Takara Bio Inc.
- HORIBA, Ltd.
- Ortho Clinical Diagnostics
- Siemens Healthcare Private Limited.
These participants are continuously increasing their efforts to improve the product performance and introducing new technologies to gain the largest market share in the overall activated partial thromboplastin time test industry.
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