Prothrombin Time Testing Market is projected to reach US$ 10.38 Billion by 2032


Increased use of Point-Of-Care Testing (POCT) and home care goods is predicted to boost the sales of prothrombin time testing.

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The Prothrombin Time Testing market is expected to grow at a 5% CAGR during the forecast period, reaching a market share of US$ 10.38 Billion in 2032, up from US$ 6.07 Billion in 2021, owing to increased public awareness about the benefits and effectiveness of these devices in detecting blood disorders.

One of the key causes driving the demand for Prothrombin Time Testing is the increased prevalence of cardiovascular problems in the senior population. In Europe, South Asia, Africa, and the United States, cardiovascular disease (CVD) and blood illnesses are the leading causes of death.

Because of a growth in the incidence of blood and cardiovascular disorders, global sales of Prothrombin Time Testing are predicted to grow significantly during the forecast period, creating a profitable opportunity for major Prothrombin Time Testing market participants.

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Advent of Telehealth and Virtual Care to Create Tailwind for the Prothrombin Time Testing Market Growth

Digitization is making deeper inroads across diverse industries, such as healthcare, owing to the increasing penetration of the internet and smartphones across the world.

During the COVID-19 outbreak, healthcare practitioners and patients realized the importance of digitization and encouraged them to adopt virtual methods of patient examination and consultation to counter the regulations concerning social distancing. This gave rise to a new medical domain, Telehealth.

Since the outbreak, telehealth has gained immense popularity, especially among the geriatric population, owing to the convenience associated with it. Hence, increasing adoption of telehealth across radiology, behavioral health, cardiology, and online consultation is expected to create lucrative opportunities for growth in the Prothrombin Time Testing market.

Key Prothrombin Time Testing Market Takeaways and Projections

  • The US is estimated to continue dominating the North America market, projecting fastest growth in the region through 2032.
  • Germany Prothrombin Time Testing market is forecast to register robust growth in Europe, accounting for a significant share in the region between 2022 to 2032.
  • China is expected to account for the maximum revenue share in the East Asia market, exhibiting the fastest sales growth during the assessment period.
  • India is forecast to emerge as a highly remunerative market in South Asia, contributing for the largest sales in the region over the coming 10-years.

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Report Benefits & Key Questions Answered

  • Prothrombin Time Testing Historical Market Outlook: Future Market Insight’s analysis examines vital dynamics, such as drivers, opportunities, and challenges in the Prothrombin Time Testing market. It also studies the impact of these dynamics on the market for the previous assessment period 2017 to 2021 to forecast the scope of market growth over the coming forecast period 2022 to 2032.
  • Prothrombin Time Testing Demand-Supply Assessment: The latest study published by FMI offers in-depth insights into governing factors facilitating the demand outlook of the Prothrombin Time Testing market. As per the survey, Prothrombin Time Testing sales will project steady growth over the forecast period.
  • Prothrombin Time Testing Market Structure Analysis: The report provides detailed information about market the concentration of key players and tier analysis in the Prothrombin Time Testing market. It also categories market players as per Tier 1, Tier 2, and Tier 3 in terms of their percentage share and product portfolio.
  • Prothrombin Time Testing Market Trend Analysis: FMI’s market trend analysis provide compelling insights into current and upcoming trends in the healthcare industries. It also assists the industry players to identify potential trends to formulate a strategy to take advantage of these existing trends.

Competitive Landscape Analysis

The latest study conducted by FMI provides in-depth insights into the global Prothrombin Time Testing market to assist management level decision-makers in constructing a strategy to capitalize on the critical trends & opportunities. It also discloses competitive trends and profiles a list of leading players operating in the global Prothrombin Time Testing market.

Some of the prominent market players are profiled by FMI are:

NIHON KOHDEN CORPORATION, SEKISUI MEDICAL, Coagulation Sciences LLC, Universal Biosensors, F. Hoffmann-La Roche, Sysmex Corporation, Medtronic, Micropoint Biosciences, ARKRAY, Diagnostica Stago S.A.S., HemoSonics, Beckman Coulter, Grifols, and Chrono-log Corporation, Abbott, Helena Laboratories, Thermo Fisher Scientific, Siemens Healthcare GmbH and others.

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Region

  • North America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East and Africa

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Published in

Health

Published on

Apr 25, 2023

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