Platelet Aggregation Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Platelet Aggregation Devices Market is Segmented by Product (Systems, Reagents, Consumables, and Accessories), Application (Clinical Applications and Research Applications), End User (Hospitals, Diagnostic Laboratories, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Platelet Aggregation Devices Market Overview
Study Period: 2018-2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 6.7 %
Platelet Aggregation Devices Market Major Players

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Market Overview

The platelet aggregation devices market was valued at approximately USD 490 million in 2020, and it is expected to reach USD 720 million by 2026, registering a CAGR of 6.7% during the forecast period, 2021-2026. The major factors attributing to the growth of the platelet aggregation devices market are the rising burden of chronic diseases, increasing geriatric population, and technological advancements in platelet aggregometer.

The outbreak of COVID-19 worldwide is also expected to have a positive impact on the market, and there is strong evidence that SARS-CoV-2 infection is associated with atherothrombotic phenomena. According to the National Clinical Trial Registry (NCT), currently, there are about three clinical trials to determine the effect of COVID-19 on platelet aggregation, which is expected to drive the platelet aggregation devices market in the coming years.

The platelet aggregation devices are meant to treat various cardiovascular diseases and bleeding disorders, but the COVID-19 pandemic is expected to affect the treatment for these diseases and the supply chain of the devices across the world.

There is an increasing incidence of heart problems, such as stroke and coronary heart disease, which cause a global burden of cardiac deaths that has driven the growth of the platelet aggregation devices market. For instance, according to the American Heart Association Research Report 2018, cardiovascular disease is listed as the underlying cause of death, and it accounts for nearly 836,546 deaths in the United States. This is nearly 1 out of every 3 deaths in the country. About 2,300 Americans die of cardiovascular disease each day, which is an average of 1 death every 38 seconds. The significant increase in the number of people suffering from cardiovascular diseases ultimately increases the use of platelet aggregation devices to study platelet aggregation worldwide and may drive the market over the forecast period.

Traditional light transmission aggregometry (LTA) remains the most useful technique for diagnosing the platelet defects. Additionally, LTA requires a large sample volume and analytical variables affect the LTA results. Therefore, all these factors in traditional aggregometry have spurred the development and advancement of aggregometry techniques, which are widely being adopted in the current market. Hence, all these advancements are found improving the adoption rate and helping in the market growth.

Moreover, the commercial development of new technologies used in treatment, research and development, and diagnosis depends on skilled technicians who would be able to standardize, use, and adopt the techniques. The advancements in any methodology require skilled technicians. Thus, owing to the dearth of skilled professionals to handle new technologies or devices, the market is expected to witness hindrances in terms of growth over the forecast period.

Scope of the Report

As per the scope of the report, platelet aggregation is a process where human platelet cells are involved in hemostasis, bleeding to repair, and vessel constriction. It plays a crucial role in inflammation and other pathological situations. Platelet aggregation test involves venipuncture in an anti-coagulant medium. This is followed by centrifugation to produce plasma, which is rich in platelets, where aggregometer are used to study the platelet aggregation. The platelet aggregation devices market is segmented by product (systems, reagents, consumables, and accessories), application (clinical applications and research applications), end user (hospitals, diagnostic laboratories, and other end users), and geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report offers the value (in USD million) for the above segments.

By Product
Systems
Reagents
Consumables and Accessories
By Application
Clinical Applications
Research Applications
By End User
Hospitals
Diagnostic Laboratories
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

The Systems Segment is Expected to Show Good Growth Over the Forecast Period

The platelet aggregation system or aggregometer is used to determine how well the platelets stick together. Such systems measure platelet aggregation with the use of 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 of automated systems among diagnostic laboratories, and growing advantages offered by point-of-care testing analyzers, as compared to conventional instruments.

The rising COVID-19 cases and the lockdown and inhibitions on the intercountry transport were found to have an impact on the supply chain of the systems. Many manufacturers have stopped production due to the lack of labor that is found to impact the segment growth. However, the increasing evidence of the effect of COVID-19 on platelet aggregation is leading to rising research studies on the process.

The growing burden of bleeding disorders is expected to increase the demand for platelet aggregation systems, as these are used to diagnose bleeding disorders. As per the data provided by Genetic Home Reference, the incidence of immune thrombocytopenia was estimated at 4 per 100,000 in children and 3 per 100,000 in adults across the globe in 2020. The need for platelet aggregation systems is increasing in the academic and pharmaceutical companies due to the increase in research studies, mainly to know the mechanisms involved in the interaction of platelets with vascular surfaces and evaluation and screening of anti-thrombotic factors to know new targets for antiplatelet drugs.

Furthermore, the companies are also taking initiatives to develop their products and expand their presence in the market. For instance, in May 2019, Haemonetics Corporation received an approval from the US FDA (Food and Drug Administration) for TEG 6s Hemostasis System, a coagulation analyzer. It is used for screening blood hemostasis. Hence, owing to the above-mentioned factors, the market in this segment is expected to grow over the forecast period.

Platelet Aggregation Devices Market Key Trends

North America is Expected to Hold the Largest Share in the Market

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, 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. Also, the rising research and development expenses in this country may boost the market growth.

The country is also witnessing a greater impact of COVID-19, affecting many markets, including the market studied. The market studied was largely impacted at the beginning of the year due to the cancellation of diagnostic procedures. However, there is a recent positive trend, as the studies of the effect of COVID-19 on platelet aggregation are booming throughout the country and the demand for the devices is rising compared to the beginning of the year.

According to the CDC (Centers for Disease Control and Prevention), 2019, hemophilia A is found affecting 1 in 5,000 male births. About 400 babies are born with hemophilia each year. The median age at diagnosis is 36 months for people with mild hemophilia, 8 months for those with moderate hemophilia, and 1 month for those with severe hemophilia.

As per the National Hemophilia Foundation 2019, around 20,000 individuals are found to be affected by hemophilia disorder in the United States. Thus, it is evident that bleeding disorders are on the rise in this country. Therefore, platelet aggregation testing is found to be very beneficial in disease diagnosis. Factors such as rising number of surgical procedures in this country, a large number of the population, undergoing cardiovascular surgeries, increasing prevalence of orthopedic, bleeding, and urological disorders are creating high growth opportunities for the players in the United States.

However, factors such as procedural limitations, unfavorable healthcare reforms in the United States, and stringent regulatory policies and limited medical reimbursements are posing significant challenges for the growth of the market.

Platelet Aggregation Devices Market Growth Rate

Competitive Landscape

The market studied is moderately competitive and there are several companies that are operating in this market. The global players in the market are Aggredyne Inc., Bio/Data Corporation, F. Hoffmann-La Roche Ltd, Haemonetics Corporation, Helena Laboratories Corporation, Siemens AG, and WerfenLife SA, among others. The novel launches and recent developments are found to be the key strategies adopted by the key players to develop their positions in the platelet aggregation devices market.

Recent Developments

In March 2020, Hart Bio launched ADP MEA and TRAP-6 MEA, designed to monitor and test the platelet aggregation function of patients. Both ADP MEA and TRAP-6 MEA are designed to monitor and test the platelet aggregation function of patients.

In April 2019, Aggredyne Inc. received the US FDA approval for AggreGuide A‑100 ADP assay testing cartridge, an in vitro diagnostic device used for measuring various antiplatelet medications that target the platelet P2Y12 receptor.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Incidence of Chronic Diseases

      2. 4.2.2 Increasing Geriatric Population

      3. 4.2.3 Technological Advancements in Platelet Aggregometers

    3. 4.3 Market Restraints

      1. 4.3.1 High Cost of Devices and Shortage of Skilled Personnel

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product

      1. 5.1.1 Systems

      2. 5.1.2 Reagents

      3. 5.1.3 Consumables and Accessories

    2. 5.2 By Application

      1. 5.2.1 Clinical Applications

      2. 5.2.2 Research Applications

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Diagnostic Laboratories

      3. 5.3.3 Other End Users

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Aggredyne Inc.

      2. 6.1.2 Bio/Data Corporation

      3. 6.1.3 Chrono-Log Corporation

      4. 6.1.4 F. Hoffmann-La Roche Ltd

      5. 6.1.5 Haemonetics Corporation

      6. 6.1.6 Helena Laboratories Corporation

      7. 6.1.7 Sentinel Ch. SpA

      8. 6.1.8 Siemens Healthineers AG

      9. 6.1.9 WerfenLife SA

      10. 6.1.10 Sysmex Corporation

      11. 6.1.11 Tem Group

      12. 6.1.12 Laboratory Corporation of America Holdings

      13. 6.1.13 Sienco Inc.

      14. 6.1.14 Chrono-log Corporation

      15. 6.1.15 Instrumentation Laboratory

      16. 6.1.16 Drucker Diagnostics

      17. 6.1.17 Matis Medical

      18. 6.1.18 Pathway Diagnostics Limited

      19. 6.1.19 Haemochrom Diagnostica GmbH

      20. 6.1.20 Grifols SA

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Global Platelet Aggregation Devices Market market is studied from 2018 - 2026.

The Global Platelet Aggregation Devices Market is growing at a CAGR of 6.7% over the next 5 years.

The Global Platelet Aggregation Devices Market is valued at 490 Million USD in 2018.

The Global Platelet Aggregation Devices Market is valued at 720 Million USD in 2026.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Bio/Data Corporation, Helena Laboratories Corporation, WerfenLife, S.A., F. Hoffmann-La Roche Ltd, Siemens Healthineers AG are the major companies operating in Global Platelet Aggregation Devices Market.

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