The INR Test Meter Market Size was expected to be worth US$ 1,268.3 million in 2022 and US$ 1,336.1 million in 2023. One of the main factors boosting the growth of the INR test metre market is thought to be the rise in cardiovascular diseases and blood disorders around the world. The INR test metre market will grow at a CAGR of 6.3% between 2023 and 2033, reaching a value of about US$ 2,453.3 million by 2033, according to Future Market Insights’ projections.
Patients with coagulopathic abnormalities caused by pathological circumstances rely heavily on PT diagnostic systems. According to the Centres for Disease Control and Prevention, patients who take warfarin typically have medical conditions that place them at high risk for severe illness, including hospitalisation, intensive care admissions, and death.
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With the growing importance of using point-of-care tests, the market for INT test metres is expected to grow rapidly during the projected period (2023 to 2033). The increased frequency of cardiovascular diseases and blood problems worldwide is one of the key factors driving the growth of the INR test mater market.
The greater knowledge of these illnesses, which will enhance diagnostic rates and preventive care management, is predicted to drive up demand for INR test metres. Furthermore, with favourable government finances and investments for procuring and installing such medical devices in public healthcare facilities, market demand is expected to rise through 2022 and beyond.
Key Takeaways from INR Test Meter Market Study
- Due to their efficacy in producing excellent therapeutic outcomes, devices held roughly 79.7% of the market value share in 2021.
- According to end users, the hospitals category is predicted to grow at a 7.8% CAGR throughout the projection period.
- North America is expected to be the leading region, with a value share of 35.6% in 2021, owing to a high prevalence of lifestyle-related diseases and speedy device approvals.
- The United Kingdom is predicted to lead the growth in Europe’s INR test metre market, owing to its investment in healthcare infrastructure.
“Growing advancements of digital solutions for medical use is set to propel the sales of the INR test meter market across the globe,” says an analyst of Future Market Insights.
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INR Test Meter Market Competition:
Key manufacturers in the INR test meter market are adopting strategic approaches such as mergers and research activities for revenue growth and product portfolio expansion. Producers are also engaged in several patent expiry mitigation approaches to further provide upgraded product lines, thus establishing a strong geographical outlook.
- In November 2021, CoaguSense Inc. incorporated a novel “Prothrombin Time Home Testing System” connected with MedM remote care platform.
- In May 2021, Biosynex acquired Avalun to become a European leader in rapid diagnostic testing.
INR Test Meter Market Key Companies Profiled:
- F. Hoffmann-La Roche Ltd
- Lepu Medical Technology(Beijing)Co., Ltd.
- ACON Laboratories, Inc.
- CoaguSense Inc.
- Abbott
- Eurolyser Diagnostica GmbH
- Horiba ABX SAS
- Avalun SAS
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Key Market Segments Covered in INR Test Meter Industry Research
By Product:
- Device
- Lancet
- Test Strips
By End User:
- Hospitals
- Speciality Clinics
- Ambulatory Surgical Centers
- Home care settings
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
About Future Market Insights, Inc.
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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