Platelet Aggregation Devices Market Size

Platelet Aggregation Devices Market Analysis

The Platelet Aggregation Devices Market size is estimated at USD 621.66 million in 2024, and is expected to reach USD 802.90 million by 2029, growing at a CAGR of 5.25% during the forecast period (2024-2029).

The outbreak of COVID-19 worldwide had a significant impact on the market, and there was substantial evidence that SARS-CoV-2 infection is associated with atherothrombotic phenomena. An NCBI article published in July 2021 mentioned that the incidence of thrombocytopenia is a critical occurrence in SARS-CoV-2 infection, which not only may exacerbate the respiratory symptoms but also increase the risk of mortality and it is a prognostic factor associated with platelets in COVID-19. The increasing research related to the platelet aggregation process on human platelet cells involved in COVID-19 had a notable impact on the market's growth over the pandemic period. Also, the demand for platelet aggregation devices is expected to remain intact during the post-pandemic period, thereby fueling market growth over the pandemic period.

The major factors attributing to the growth of the platelet aggregation devices market are the rising burden of chronic diseases, the increasing geriatric population, and technological advancements in platelet aggregometer.

For instance, the British Heart Foundation (BHF) data published in January 2022 reported that the most common heart conditions affected globally were coronary (ischemic) heart disease (global prevalence estimated at 200 million), peripheral arterial (vascular) disease (110 million), stroke (100 million) and atrial fibrillation (60 million) in 2022. The report also mentioned that the prevalence of heart and circulatory diseases in North America was 46 million, in Europe 99 million, in Africa 58 million, in South America 32 million, and in Asia and Australia 310 million in 2022. Thus, the high incidence of cardiovascular diseases among the global population is expected to contribute to the market's growth. Thus, the significant increase in the number of people suffering from cardiovascular diseases ultimately increases the use of platelet aggregation devices to study platelet aggregation among the affected patients and may drive market growth over the forecast period.

Moreover, the increasing launches of various advanced platelet aggregation devices by key market players are also expected to drive the market's growth over the forecast period. For instance, in July 2021, Sysmex Corporation launched two new automated blood coagulation analyzers, CN-3500 and CN-6500, in specific countries in the EMEA region. These new blood coagulation analyzers allow for flexible measurements in response to a broad range of test orders in the fields of thrombosis and hemostasis, in addition to the blood coagulation and platelet aggregation parameters, which can also be measured by the CN-6000/CN-3000.

However, 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.