COVID-19 Impact Analysis

During the early phase of the COVID-19 pandemic, there was no availability of specific diagnostic tests to detect the virus in patients. Alternative diagnostic tests were used initially that were not very effective. This unavailability of the specific COVID-19 diagnostic tests presented lucrative opportunities for diagnostic manufacturers to introduce their COVID-19 diagnostic kits. Many leading players as well as some start-ups from various countries utilized this opportunity and introduced COVID-19 diagnostics kits into local as well as global markets. These players achieved an edge over other diagnostics players capitalizing on the opportunity from the demand for COVID-19 diagnostic tests, which, in turn, helps them in maintaining their revenues in such a crisis. Owing to such factors, COVID-19 is expected to have a significant impact on the hemostasis diagnostics market.

Top Impacting Factors

• The rise in the prevalence of several diseases such as cancer, diabetes, and neurological disorders with the increase in the elderly population and lifestyles changes fuel the expansion of the hemostasis diagnostics market.
• The rise in the prevalence of hemophilia is anticipated to drive the global hemostasis diagnostics market during the forecast period.
• The increase in technological advancements of molecular diagnostics, the availability of low-cost and biodegradable diagnostic products, chromogenic substrates, monoclonal antibodies, immunoassays, and he increase in laboratory automations are all projected to contribute to market expansion.
• The increase in government initiatives is projected to generate profitable market opportunities in the coming years.
• Furthermore, increased awareness of hemostasis issues is expected to improve diagnosis rates and preventative care management, which is anticipated to significantly boost testing volume and provide market growth potential.
• Continuous advancement in R&D initiatives to miniaturize molecular and professional diagnostic testing is expected to increase the demand for hemostasis diagnostics.
• However, a lack of awareness about hemostasis diseases in developing regions, as well as stringent government regulations, may limit the market growth.

Market Trends

New Product Launches to Flourish Hemostasis Diagnostics Market

In April 2020, Hemonetics announced the acquisition of next-generation whole blood coagulation testing system developer Enicor for an undisclosed amount. Munich, Germany-based Enicor develops the ClotPro system designed for viscoelastic diagnostics touted to offer more assays than any other hemostasis analyzer on the market. As per Haemonetics, ClotPro is set to be coupled with its TEG 5000 hemostasis analyzer and TEG 6s hemostasis analyzer with site-of-care technology.

In July 2020, Sysmex Corporation launched new products in the hemostasis field: the Automated Blood Coagulation Analyzers CN-6500/CN-3500.

Coagulation diseases affect the body's ability to clot blood. These disorders have the potential to cause bleeding or thrombosis. A multitude of causes can contribute to coagulatory disorders. These disorders can be acquired or developed.

Some of the most prevalent coagulation diseases that can cause bleeding are platelet dysfunction, von Willebrand disease, and hemophilia. In addition, disseminated intravascular coagulation, vitamin K insufficiency, and other clotting factor abnormalities are causes of coagulation disorders that can result in bleeding. These factors are expected to benefit the global hemostasis diagnostics market during the forecast period. According to the National Hemophilia Foundation, hemophilia A is four times more frequent than hemophilia B. Hemophilia affects around 20,000 persons in the U.S.

Key Benefits of Report

• This study presents the analytical depiction of the hemostasis diagnostics along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the hemostasis diagnostics market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the hemostasis diagnostics market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the hemostasis diagnostics market. 
• The report provides a detailed hemostasis diagnostics market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in Hemostasis Diagnostics Market Report

• Who are the leading market players active in the hemostasis diagnostics market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the hemostasis diagnostics market? 
• What future projections would help in taking further strategic steps?
• What is hemostasis diagnostics?
• What is market prediction for the future?
• Who are the leading global players in the market?
• What are the current trends and predicted trends?
• What are the key benefits of the hemostasis diagnostics market report?