According to estimates, the global INR test metres industry will be valued US$ 1,268.3 million in 2022 and US$ 1,336.2 million in 2023. According to Future Market Insights forecasts, the market for preventative HIV drugs is expected to reach US$ 2,453.3 million in market value by 2033, rising at a compound annual growth rate (CAGR) of 6.3% between 2023 and 2033.
Growth in demand for INR test meters is anticipated to increase awareness of the disorders, which will substantially help in the improvement of diagnostic rates and preventive care management. Favorable government funds and investments are acquired in the installation of such medical devices in public healthcare facilities, and the rise in demand in the market is expected to drive the market.
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Emergence in the importance of utilization point-of-care tests, where the market for INR test meters witnesses a high growth in demand during the forecast period. One of the major factors raising the growth of the INR test meter market is the rise in the presence of cardiovascular diseases and blood disorders across the world.
Key Takeaways :
- Future Market Insights considers that the INR test meter market contributed approximately 72.8% in 2021.
- United States is likely to hold a market share of 32.1% and considerably dominates North America’s
- INR test meter market in North America consists of a total share of about 35.6% in 2022
- Germany held a market share of nearly 3.6% in the INR test meter market.
- Europe INR test meter market holds a share of 32.0%.
- Devices are expected to account for around 79.7% in 2021 throughout the forecast period,
- Hospitals held the highest market share value of 32.4%, opines FMI.
“Availability of Various Home PT/INR Testing Modules is one of the major restraining factors that hamper the INR test meter market”, comments Future Market Insights analyst.
Competitive Landscape
INR test meter market is expected to be highly competitive, opines FMI. To meet consumer demand and expand their customer base, leading companies are implementing methods such as mergers and acquisitions, partnerships and collaborations, and new product launches for devices. Some of the important developments of the key players in the market are:
- In December 2022, Abbott Laboratories invested $536 million in building a new manufacturing facility in Bowling Green, Ohio, state officials announced this week
The facility produces specialty and metabolic powder nutritional products, some of which are used by individuals with extreme food allergies or other dietary conditions.
- In July 2023, German-based Siemens Healthineers is bringing cutting-edge surgical training and technology for Atrium Health’s future medical school as its first strategic partner.
Key Companies:
- 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
- Roche Diagnostics
- Siemens Healthineers
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Key Segments :
By Product:
- Device
- Lancet
- Test Strips
By End User:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Homecare Settings
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Oceania
- Middle East and Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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