The global hemostasis diagnostics market is primarily driven by the ever-increasing disease burden of blood clotting disorders. Hemophilia, vitamin k deficiency, and disseminated intravascular coagulation are some of the factors responsible for blood clotting disorders that not only requires relevant treatment, but also timely and affordable diagnosis. As per statistics presented by the World Health Organization, an estimated 400, 000 people worldwide suffer from hemophilia, of which 56% remain undiagnosed. This will stoke growth of the hemostasis diagnostics market.
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Rising Prevalence of Blood Clotting Disorders Emerges as Prominent Growth Factor
The world hemostasis diagnostics market has been foreseen to gain a whole lot of significance in the near future on account of the swelling occurrence of blood clotting disorders. Blood disorders related to issues such as blood coagulation and abnormal bleeding could include hemophilia A and B alongside factors II, V, VII, X, or XII deficiencies. The market has been envisaged to enjoy a positive bearing due to the development of a wide array of products taking cue from advancements in hemostasis technology. The advent of various products in the market has allowed clinicians to execute a range of tasks such as detecting clotting factors and quantifying optical density of clots in a cuvette.
Lack of Specificity and Sensitiveness of Standard Blood Clotting Assays Demeans Demand
Among most specialists, hemostasis laboratory testing has been a major concern. This could be because of platelet aggregation, activated partial thromboplastin time (APTT), prothrombin time (PT), and other standard assays for clotting not being specific and sensitive to a number of hemostasis disorders. Furthermore, laboratory diagnostics only concerns the blood composition cause of thrombosis which could also arise due to disorders associated with blood flow and vessel wall.
However, the demand for advanced bleeding control techniques, especially for the rising geriatric population has been prophesied to set the tone for a valuable growth of the international hemostasis diagnostics market. As per the World Health Organization (WHO), the global geriatric population could increase to a 1.5 bn by 2050. Moreover, changing lifestyle in emerging countries and the snowballing prevalence of cancer, diabetes, and cardiovascular disease could create ample of opportunities in the foreseeable future.