SEATTLE--(BUSINESS WIRE)--According to CMI, the global thromboelastography market is estimated to be valued at US$ 531.8 million in 2020 and is expected to exhibit a CAGR of 7.2% over the forecast period (2020-2027).
Key Trends and Analysis:
Key trends in the market include rising number of surgeries and organ transplant procedures, increasing incidence of chronic blood disorders, and rising products approval & launches.
Rising incidence of chronic blood disorders is expected to contribute to significant growth of the thromboelastography market. According to the Leukemia & Lymphoma Society (LLS), in around every 3 minutes, one person is diagnosed with blood cancer, which accounted for total of 174,250 people in the U.S. in 2017. Moreover, around 1,735,350 new cancer cases were expected to be diagnosed in 2018, which accounted for around 10% of the total U.S. population, as per the data given by the Leukemia and Lymphoma Society (LLS).
Rising number of surgeries and organ transplant procedures is a major factor that is expected to boost the thromboelastography market growth over the forecast period. For instance, according to the U.S. Department of Health and Human Services, 34,770 organ transplants were performed in the U.S. in 2017.
Moreover, increasing prevalence of hemostasis disorders has fueled growth of the thromboelastography market. For instance, according to World Federation of Hemophilia (WFH) 2018 statistics, around 440,000 people had hemophilia, of which around 173,000 people were diagnosed with hemophilia A or B in 2017, globally.
Increasing number of organ transplants, trauma cases. and others worldwide is expected to drive growth of the market over the forecast period. According to the Global Observatory on Donation and Transplantation (GODT) Data, 2018, the total organ transplant of kidney, heart, lung, liver, pancreas, and small bowel was around 114.4 and 77.11 in the U.S. and Canada, respectively, in the per million population.
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Key Market Takeaways:
The global thromboelastography market is expected to exhibit a CAGR of 7.2% over the forecast period, owing to increasing number of clinical trials conducted by various research and academic institutes. For instance, in June 2017, the Third Xiangya Hospital of Central South University initiated a multicenter observational study to establish the normal reference range of thrombelastogram parameters of healthy adults. The study was completed in March, 2018.
North America region is expected to hold dominant position in the global thromboelastography market over the forecast period. This is owing to increasing number of product launches and approvals associated with thromboelastography by regulatory bodies. For instance, in May 2019, Haemonetics Corporation received 510(k) clearance from the U.S. Food and Drug Administration (FDA) to expand the medical indication of its TEG 6s Hemostasis Analyzer System
Key players operating in the global thromboelastography market include—
Haemonetics Corporation, Instrumentation Laboratory, Framar Hemologix srl, Medirox AB, Diagnostica Stago, and Life Diagnostica.
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Global Thromboelastography Market, By Type:
- Functional Fibrinogen
- Platelet Mapping
- Consumables & Disposables
Global Thromboelastography Market, By Application:
- Cardio-pulmonary Bypass Surgery
- Liver Transplantation
- Neonatology and Pediatrics
Global Thromboelastography Market, By End User:
- Hospitals & Clinics
- Blood Banks
- Academic Institutes
Global Thromboelastography Market, By Region:
- Rest of Latin America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
- North America
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