The Global Platelet Function Test Market is Poised to Reach a Staggering US$ 1,178.4 Million in 2022. As the incidence of platelet irregularities continues to rise, the worldwide appetite for platelet function tests is forecasted to surge with an impressive 6.3% Compound Annual Growth Rate (CAGR) from 2022 to 2032, culminating in a remarkable sum of approximately US$ 2,170.8 Million by 2032.
The platelets travel to the damaged area and reshape themselves to form a mesh and get attached to the damaged surface and prevent bleeding. For proper functioning of the clotting process, an appropriate number of platelets are required in the human body. In some cases the platelets stop functioning properly and lose their ability to bind to the damaged site and stop bleeding.
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Platelet Function Test Market: Drivers and Restraints
With the increasing number of platelet disorders the demand for the platelet function test is increasing rapidly. Increasing incidence rate of disorders like thrombocythemia (abnormal increase in the number of platelets) and thrombocytopenia (decrease in the number of platelets) is expected to boost the demand for platelet function test industry during the forecast period.
It has been observed that the platelet function disorders are 1.5 times more likely to occur in women and geriatric population, with the increasing global life expectancy rate there is expansion in the patient pool requiring platelet function test, which in turn is expected to drive demand for platelet function test industry. Increasing adoption of platelet therapy for cancer patients is also expected to boost the platelet function test industry due to increasing number of cancer patients. Some other factors like increasing number of surgical procedures, increasing awareness and development of new technology is expected to boost the platelet function test industry.
However reduction in the reimbursement rates for the tests and dearth of trained professionals in the emerging economies is expected to decelerate the market growth.
Platelet Function Test Market: Overview and Region-wise Outlook
Geographically, the platelet function test market is segmented into seven key regions: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa (MEA).
North America and Western Europe are expected to lead the platelet function test market during the forecast period, mainly due to high adoption rate of platelet function test and high awareness of platelet related disorders. Also the presence of several manufacturers and increasing rate of clinical research is expected to promote platelet function test market growth in this region.
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APEJ region is expected to witness high market growth followed by North America and Western Europe mainly due to large patient population and development of affordable platelet function tests by the manufacturers owing to low taxation rates. The improving distribution channel and large patient pool in this region is also expected to boost the platelet function test market. Eastern Europe, Japan and Latin America are expected to follow next due to increasing government spending on the healthcare and development of efficient reforms for manufacturers of platelet function test kits and systems.
MEA is also expected to witness significant growth in the platelet function test market owing to improving political stability and increasing awareness related to platelet disorders.
Platelet Function Test Market: Key Players
Some key participants in the platelet function test market are F. Hoffmann-La Roche Ltd, Haemonetics Corporation, Siemens AG, Accriva Diagnostics, Helena Laboratories, Terumo BCT, Inc., Fresenius SE & Co KGaA., and Aggredyne, Inc.
Currently companies are focusing on developing more accurate test systems and analyzers along with constant effort to establish distribution channel in the emerging countries.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology
- Value Chain
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Platelet Function Test Market: Segmentation
The global platelet function test market is segment into following segments: by product type, by end user, by application and by region.
Segmentation by product
- Systems
- Reagents
- Accessories
Segmentation by end user
- Hospitals
- Blood banks
- Diagnostics centers
- Academic institutions
- Others
Segmentation by application
- Clinical applications
- Research applications
- Pharmaceutical development
- Others
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