Market Trends of Platelet Aggregation Devices Industry
This section covers the major market trends shaping the Platelet Aggregation Devices Market according to our research experts:
The Systems Segment is Expected to Witness Notable Growth in the Market Over the Forecast Period
The platelet aggregation system or aggregometer determines how well the platelets stick together. Such systems measure platelet aggregation using a platelet antagonist, such as ADP, thrombin, and ristocetin. Aggregation systems are likely to grow over the forecast period due to factors such as continuous technological advances in the field of platelet aggregation devices, the escalation of trends in platelet aggregation testing methods, growing adoption, and market preference for automated systems among diagnostic laboratories, and growing advantages offered by point-of-care testing analyzers, as compared to conventional instruments.
The growing burden of bleeding disorders and cardiovascular disorders is expected to increase the demand for platelet aggregation systems, which are used to diagnose bleeding disorders. As per the data provided by Genetic Home Reference updates in July 2022, the incidence of immune thrombocytopenia was estimated at 4 per 100,000 in children and 3 per 100,000 in adults worldwide annually. Such incidence of bleeding disorders is expected to drive the demand for platelet aggregation systems to screen anti-thrombotic factors, thereby contributing to the growth of the studied segment.
Furthermore, the rising market player's strategies, such as collaborations, acquisitions, and mergers, are also expected to drive the growth of the studied segment. For instance, in July 2021, Baxter International, Inc. reported its Baxter Healthcare Corporation subsidiary had completed the acquisition of assets related to the PerClot Polysaccharide Hemostatic System from CryoLife, Inc. The PerClot Polysaccharide Hemostatic System is used as an adjunctive hemostatic device to control bleeding during multiple open and laparoscopic surgical procedures, including gynecologic, general, cardiovascular, and urology.
Hence, owing to the above-mentioned factors, such as the rising incidence of bleeding disorders and market players' strategies, the market in this segment is expected to grow over the forecast period.
North America is Expected to Hold the Largest Share in the Market Over the Forecast Period
The North American region holds the largest market share due to the strong presence of device manufacturers, due to the increasing number of target disorders, the increasing geriatric population, technological advancements in platelet aggregometer, and rising awareness among healthcare professionals regarding the benefits offered by platelet aggregation testing in disease diagnosis.
As per a report by the United States Centers for Disease Control (CDC) statistics updated in 2021, every 40 seconds, an American may have a heart attack. Also, according to the World Federation of Hemophilia 2021 report, there were about 14,816 patients with hemophilia (including Hemophilia A -11,790 and Hemophilia B-3,026) in the United States and people diagnosed with hemophilia in the United States and 3,924 patients with hemophilia in Canada (including Hemophilia A -3,223 and Hemophilia B-701) in 2021. Therefore, the high incidence of various chronic and blood disorders in this region is expected to drive the demand for platelet aggregation devices owing to the effective disease diagnosis.
Additionally, the increasing product approvals by the regulatory authorities are also expected to contribute to the growth of the market in this region. For instance, in November 2022, Cerus Corporation received approval from Health Canada to extend the storage of platelets treated with the INTERCEPT blood system from five days to seven days from the time of collection, joining other territories where intercept platelets are approved for seven-day storage.
Thus, owing to the abovementioned factors, such as the increasing incidence of chronic and blood disorders and rising product developments, the North American region is expected to show lucrative growth over the forecast period.
