The South & Central America coagulation analyzers market is expected to grow from US$ 266.50 million in 2022 to US$ 380.05 million by 2028. It is estimated to grow at a CAGR of 6.1% from 2022 to 2028.
Rising Incidence of Cardiovascular Diseases Drives the South & Central America Coagulation Analyzers Market
Cardiovascular diseases (CVD) cause millions of deaths every year in worldwide including South & Central America. The major causes of CVD’s are hypertension, obesity and diabetes. The cases of diabetes are increasing in the region. For instance, according to the company BioMed Central Ltd in October 2020, 16.8 million individuals were affected by diabetes mellitus (DM) in Brazil, making it one of the top 10 countries regarding DM prevalence. Further, according to International Diabetes Federation, globally 537 million people have diabetes out of which more than 33 million people in the International Diabetes Federation (IDF) South and Central America Region by 2045, the cases will grow to 49 million. People with diabetes are more prone to the risk for heart disease in which cardiac surgeries are required where coagulation analyzers are widely used to monitor blood clotting status.
The prevalence of hypertension has been linked to the aging population in Brazil. The Brazilian Institute of Geography and Statistics (IBGE) estimates that, by 2060, people over 65 years will account for 25.5% of the total population. The growing geriatric population is expected to result in a high prevalence of hypertension, leading to a rise in demand for cardiovascular surgeries such as angioplasty and coronary artery bypass surgery to monitor information about blood clotting status. Similarly, CVDs are growing in Argentina, for instance, In 2020, as per the World Health Organization, coronary heart disease causes 48,765 deaths in Argentina.
A coagulation test can help prevent potentially heart attack-causing blood clots. A coagulation analyzer is used during coronary artery bypass surgery and angioplasty to monitor information about blood clotting status. Thus, the increasing incidence of cardiovascular diseases results in growing the demand of coagulation analyzers in turn driving the growth of South & Central America coagulation analyzers market.
South & Central America Coagulation Analyzers Market Overview
The South & Central America coagulation analyzers market is segmented into Brazil, Argentina, and the Rest of South & Central America. The South & Central America coagulation analyzers market is expected to witness significant growth during the forecast period due to factors such as the growing cardiovascular diseases along with increasing diabetes, hypertension, and growing aging population in the region.
According to World Heart Federation, non-communicable diseases such as cardiovascular disease accounts for 74% of total deaths in Brazil. According to Global Burden Study (GBD) and Brazilian Unified Health System, cardiovascular disease was the leading cause of death in Brazil in 2019. Due to growing aging population in Brazil, the prevalence of cardiovascular disease is increasing each year. According to the same source, GBD 2019, the number of ischemic heart disease (IHD) has reached to 4 million in 2019. Further, about 171,246 deaths were reported due to IHD which accounts for 43% of cardiovascular deaths and 12% of total deaths in Brazil in 2019. Thus, growing cardiovascular disease in Brazil is driving the coagulation analyzers growth. Similarly, according to Argentine Society of Cardiology, in 2019, cardiovascular disease is the leading cause of death which contributes to 30% of deaths. Further, according to World Health Organization, in 2020, coronary heart disease in Argentina has reached 48,765 which accounts for 17.64% of total deaths. About 95,826 deaths were due to cardiovascular disease out of 336,823 of total deaths happened in Argentina. Thus, growing cardiovascular diseases in Argentina are driving the growth of market.
South & Central America Coagulation Analyzers Market Revenue and Forecast to 2028 (US$ Million)
South & Central America Coagulation Analyzers Market Segmentation
The South & Central America coagulation analyzers market is segmented into product, test, technology, end users, and country.
Based on product, the South & Central America coagulation analyzers market is segmented into clinical laboratory analyzers and point-of-care testing analyzers. The clinical laboratory analyzers segment held the larger South & Central America coagulation analyzers market share in 2022.
Based on test, the South & Central America coagulation analyzers market is segmented into prothrombin time testing, fibrinogen testing, activated clotting time testing, activated partial thromboplastin time testing, d-dimer testing, platelet function tests, anti-factor xa tests, heparin and protamine dose response tests for act, and others. The prothrombin time testing segment held the largest South & Central America coagulation analyzers market share in 2022.
Based on technology, the South & Central America coagulation analyzers market is segmented into optical technology, mechanical technology, electrochemical technology, and other technologies. The optical technology segment held the largest South & Central America coagulation analyzers market share in 2022.
Based on end users, the South & Central America coagulation analyzers market is segmented into hospitals, clinical laboratories, point-of-care testing, and others. The clinical laboratories segment held the largest South & Central America coagulation analyzers market share in 2022.
Based on country, the South & Central America coagulation analyzers market is segmented into the Brazil, Argentina, and the Rest of the South & Central America. The Rest of the South & Central America dominated the South & Central America coagulation analyzers market share in 2022.
Abbott Laboratories; Danaher Corp; F. Hoffmann-La Roche Ltd; Horiba Ltd.; Nihon Kohden Corp; Shenzhen Mindray Bio-Medical Electronics Co., Ltd.; Siemens Healthcare GmbH; Sysmex Corporation; and Thermo Fisher Scientific Inc are the leading companies operating in the South & Central America coagulation analyzers market.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 266.50 Million |
| Market Size by 2028 | US$ 380.05 Million |
| CAGR (2022 - 2028) | 6.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Product
|
|
Regions and Countries Covered
|
|
| South and Central America | Brazil, Argentina, Rest of South and Central America |
| Market leaders and key company profiles |
|
The South & Central America Coagulation Analyzers Market is valued at US$ 266.50 Million in 2022, it is projected to reach US$ 380.05 Million by 2028.
As per our report South & Central America Coagulation Analyzers Market, the market size is valued at US$ 266.50 Million in 2022, projecting it to reach US$ 380.05 Million by 2028. This translates to a CAGR of approximately 6.1% during the forecast period.
The South & Central America Coagulation Analyzers Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Coagulation Analyzers Market report:
The South & Central America Coagulation Analyzers Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Coagulation Analyzers Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Coagulation Analyzers Market value chain can benefit from the information contained in a comprehensive market report.
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