Future Market Insights (FMI), a leading market research firm, predicts the Platelet Function Test Market to reach a significant US$2,170.8 million by 2032. This exciting growth represents a promising Compound Annual Growth Rate (CAGR) of 6.3% over the next decade. The market is already showing strong momentum, with a projected valuation of US$1,178.4 million by the end of 2022. This surge is driven by the increasing importance of optimal patient care and the need for precise blood analysis to guide treatment decisions.
Platelets, integral to the human body’s clotting process, play a critical role in preventing excessive bleeding when damage occurs. They travel to the affected area, transforming into a mesh that adheres to the damaged surface. Maintaining an appropriate number of functional platelets is paramount for this process. However, in certain cases, platelets lose their ability to bind to damaged sites, compromising their ability to control bleeding.
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Global Platelet Function Test Industry: Drivers and Restraints
With the increasing number of platelet disorders, the demand for platelet function tests is increasing rapidly. The 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 the platelet function test industry during the forecast period.
It has been observed that platelet function disorders are 1.5 times more likely to occur in women and the geriatric population, with the increasing global life expectancy rate there is an expansion in the patient pool requiring platelet function tests, which in turn is expected to drive demand for the platelet function test industry. Increasing adoption of platelet therapy for cancer patients is also expected to boost the platelet function test industry due to the increasing number of cancer patients. Some other factors like an increasing number of surgical procedures, increasing awareness, and the development of new technology are expected to boost the platelet function test industry.
However, the reduction in the reimbursement rates for the tests and the dearth of trained professionals in emerging economies are 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 the 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 the high adoption rate of platelet function tests and high awareness of platelet-related disorders. Also, the presence of several manufacturers and an increasing rate of clinical research are 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 the large patient population and the 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 are 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 Global Platelet Function Test Industry owing to improving political stability and increasing awareness related to platelet disorders.
Platelet Function Test Market: Key Players
Some key participants in the Global Platelet Function Test Industry 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 a constant effort to establish distribution channels in 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 an exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition and companies involved
- Technology
- Value Chain
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Platelet Function Test Market: Segmentation
by product
- Systems
- Reagents
- Accessories
by end-user
- Hospitals
- Blood banks
- Diagnostics centers
- Academic institutions
- Others
by application
- Clinical applications
- Research applications
- Pharmaceutical development
- Others
About Future Market Insights (FMI)
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