Global Viscoelastic Coagulation Testing Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2025 - 2034
The Viscoelastic Coagulation Testing industry revenue is expected to be around $944.7 million in 2025 and expected to showcase growth with 8.4% CAGR between 2025 and 2034. The substantial expansion of the Viscoelastic Coagulation Testing market can be credited to important reasons. The rising occurrence of coagulation abnormalities like hemophilia and Von Willebrand disease has notably spurred the need for diagnostic options. Moreover the continuous progress in coagulation testing technology along with increased knowledge, about early disease identification has additionally boosted the markets significance in the healthcare industry. The increasing demand for precise testing techniques in trauma situations and surgical procedures is another key driver, behind the markets growth.
Viscoelastic coagulation testing is a diagnostic method that offers detailed insights into how blood clotting occurs in the body. It is commonly employed to evaluate the clotting function in patients undergoing surgical procedures and those with traumatic injuries or coagulation issues. This testing approach is recognized for its capability to offer thorough evaluations of the entire clotting process. From the formation of clots, to their breakdown.
Market Key Insights
- The Viscoelastic Coagulation Testing market is projected to grow from $871.5 million in 2024 to $1.95 billion in 2034. This represents a CAGR of 8.4%, reflecting rising demand across Trauma Surgery, Cardiac Surgery and Obstetrics.
- Werfen Group, Haemonetics Corporation, Siemens Healthineers are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Viscoelastic Coagulation Testing market and are expected to observe the growth CAGR of 6.1% to 8.8% between 2024 and 2030.
- Emerging markets including Brazil, India and South Africa are expected to observe highest growth with CAGR ranging between 8.1% to 10.5%.
- Transition like Automation in Viscoelastic Coagulation Testing is expected to add $50 million to the Viscoelastic Coagulation Testing market growth by 2030
- The Viscoelastic Coagulation Testing market is set to add $1.1 billion between 2024 and 2034, with manufacturer targeting Cardiac Surgery & Liver Transplantation Clinical Applications projected to gain a larger market share.
- With
increasing prevalence of coagulation disorders, and
advancements in viscoelastic devices, Viscoelastic Coagulation Testing market to expand 124% between 2024 and 2034.
Opportunities in the Viscoelastic Coagulation Testing
Advanced technologies in healthcare are also making strides with Viscoelastic Coagulation Testing solutions on the horizon thanks to AI and ML integration to improve the accuracy and efficiency of these tests, for healthcare professionals and patients alike.
Growth Opportunities in North America and Asia-Pacific
North America Outlook
North America holds importance for Viscoelastic Coagulation Testing with a strong healthcare system and a high incidence of coagulation disorders. Particularly in the United States region specifically known for its advancements in coagulation testing devices due to the rise in surgical procedures that necessitate preoperative and postoperative coagulation assessments. Moreover the region benefits from having market players providing state of the art solutions, for Viscoelastic Coagulation Testing. The steep price of these examinations might hinder the expansion of the market.
Asia-Pacific Outlook
The market for Viscoelastic Coagulation Testing in the Asia Pacific region is experiencing expansion primarily because of the rising prevalence of coagulation disorders and the increasing number of elderly individuals in the population. Countries like China and India are emerging as centers of demand owing to enhancements in healthcare infrastructure and heightened awareness regarding coagulation disorders. The local presence of manufacturers in the region is also impacting the market by fostering competition and encouraging innovation. Despite promising opportunities in this sector a lack of awareness and restricted access to testing options pose significant challenges, in certain region's.
Market Dynamics and Supply Chain
Driver: Increasing Prevalence of Coagulation Disorders, and Growing Demand for Personalized Medicine
The progress in tools like automated and portable devices has also increased the accessibility and user friendliness of Viscoelastic Coagulation Testing significantly. These developments have also broadened the application of these tests, across healthcare environments. From hospitals to point of care testing. Fuelin market expansion.
Restraint: High Cost of Viscoelastic Coagulation Testing
Opportunity: Expansion into Emerging Markets and Strategic Collaborations to Enhance Market Presence
Building partnerships and working closely with healthcare institutions and research organizations can enhance the visibility of Viscoelastic Coogulation Testing providers in the market space. Through these collaborations there is an opportunity to support research efforts and drive innovation which can result in the launch of enhanced testing options, for consumers.
Challenge: Lack of Awareness and Limited Accessibility
Supply Chain Landscape
BASF SE
Dow Chemical Company
Siemens Healthineers
Haemonetics Corporation
Werfen Group
Stago Group
Hospitals
Diagnostic Laboratories
Research Institutes
BASF SE
Dow Chemical Company
Siemens Healthineers
Haemonetics Corporation
Werfen Group
Stago Group
Hospitals
Diagnostic Laboratories
Research Institutes
Applications of Viscoelastic Coagulation Testing in Trauma Surgery, Cardiac Surgery & Obstetrics
Viscoelastic coagulation testing, such as Thromboelastography and ROTEM, is commonly utilized in trauma surgery to effectively evaluate a patient’s coagulation status and assist surgeons in making informed decisions regarding the administration of blood products. Leading players in this field include Haemonetics Corporation and Werfen, both recognized for their cutting-edge testing technologies and significant market influence.
Cardiac surgery heavily relies on Viscoelastic Coagulation Testing to control bleeding during the perioperative period. TEG and ROTEM tests are instrumental in providing updates on coagulation levels to minimize transfusions and potential risks involved. Siemens Healthineers and Stago stand out as players, in this sector known for their advanced coagulation testing products and strong market presence.
Viscoelastic Coagulation Testing is commonly utilized in obstetrics for addressing postpartum hemorrhage—a contributor to maternal mortality globally. The TEG and ROTEM assessments offer practical information on a patients coagulation condition to facilitate prompt intervention. Essential contributors, in this field are Instrumentation Laboratory and Roche Diagnostics known for their top notch testing devices and substantial market presence.
Recent Developments
Roche Diagnostics introduced a cutting edge viscoelastic coauglation testing tool that offers accuracy and quicker outcomes.
Sysystemex Corporation implemented AI driven data analysis to enhance the accuracy of viscoelastic coagulation testing, for diagnosis outcomes.
Siemens Healthineers revealed a new collaboration with Medtronic to enhance healthcare through advancements, in viscoelastic coagulation testing.
The demand for Viscoelastic Coagulation Testing in the healthcare industry has seen a notable increase lately due to its growing use in diagnosing and treating coagulation related conditions—a prominent trend, in the market.