PLATELET AGGREGATION DEVICES MARKET ANALYSIS

The global platelet aggregation devices market was valued at US$ 518.7 Mn in 2021 and is forecast to reach a value of US$ 794.0 Mn by 2028 at a CAGR of 6.3% between 2022 and 2028. The global platelet aggregation devices market is experiencing strong growth owing to the increasing incidence of cardiovascular diseases (CVDs) and growing burden of bleeding disorders across the globe. Moreover, growing geriatric population and rise in demand for platelet aggregation devices worldwide is expected to boost the market growth. However, factors such as high cost of platelet aggregation devices and shortage of skilled personnel are expected to hamper growth of the global platelet aggregation devices market.

Global Platelet Aggregation Devices Market: Regional Insights

Based on geography, the global platelet aggregation devices market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Among regions, North America is expected to gain highest share in the market during the forecast period owing to the increasing incidence of chronic and bleeding disorders and growing geriatric population in the region, especially in the United States. For instance, platelet aggregation devices are often used to treat cardiovascular and bleeding disorders. According to the Centers for Disease Control and Prevention (CDC), around 85% of older adults in the U.S. have at least one chronic health condition, and 60% have at least two chronic conditions. This in turn is expected to increase demand for platelet aggregation devices in the region.

Asia Pacific is also expected to witness robust growth in the global platelet aggregation devices market due to the increase in prevalence of chronic diseases and growing geriatric population in the region. For instance, tumors have the ability to induce platelet aggregation which is referred as tumor cell induced platelet aggregation (TCIPA). According to data based on current trends from the cancer report by the Indian Council of Medical Research (ICMR), India’s cancer cases could increase by 12% in the next five years, with 1.5 million people projected to suffer from the non-communicable disease by 2025, up from 1.39 million in 2020.

Figure 1. Global Platelet Aggregation Devices Market Share (%), by Region, 2022

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Global Platelet Aggregation Devices Market Drivers:

Increasing incidence of cardiovascular diseases (CVDs) around the world is expected to boost the growth of the platelet aggregation devices market during the forecast period. For instance, platelet aggregation devices are used for the treatment of CVDs, which in turn is expected to increase the demand for platelet aggregation devices worldwide. According to the World Health Organization (WHO), CVDs are the leading cause of global mortality and major contributor to disability, taking an estimated 17.9 million lives each year. This in turn is expected to increase demand for platelet aggregation devices around the world.

Growing burden of bleeding disorders across the globe is expected to augment growth of the global platelet aggregation devices market during the forecast period. With growing incidence of bleeding disorders, the demand for platelet aggregation devices/systems is also increasing, as they are used to diagnose bleeding disorders. Platelet aggregation test is usually performed on individuals with bleeding problems. According to the Centers for Disease Control and Prevention (CDC), there are about 3 million people nationwide who are affected by bleeding disorders. This in turn is expected to increase demand for platelet aggregation devices.

Global Platelet Aggregation Devices Market Opportunities:

Increase in demand for platelet aggregation devices worldwide is expected to provide significant growth opportunities for players in the platelet aggregation devices market. For instance, with the increase in burden of chronic and bleeding disorders, the demand for platelet aggregation devices is also increasing with a rapid pace. In March 2020, Hart Bio announced the launch of ADP MEA and TRAP-6 MEA. Both ADP MEA and TRAP-6 MEA are designed to monitor and test platelet aggregation function of patients. ADP MEA is designed for use in diagnosing platelet dysfunction or normal platelet activity in whole blood for Multiple Electrode Aggregometry.

Growing geriatric population across the world is expected to offer lucrative growth opportunities for players in the global platelet aggregation devices market. For instance, aging increases the risk of chronic diseases such as heart disease, diabetes, and cancer. Moreover, growing population of older adult patients with bleeding disorders is at the risk of age-related comorbidities. According to the World Health Organization (WHO), by 2030, one in six people in the world will be aged 60 years or over, and by 2050, the world’s population of people aged 60 years and older will double (2.1 billion). This in turn is expected to propel market growth.

Global Platelet Aggregation Devices Market Trends:

Aggregation devices/systems are expected to grow over the forecast period due to factors such as technological advancements in the field of platelet aggregation devices. As these advances have reached clinical use, the demand for these devices has increased. Further future improvements and developments are also expected to help the market growth. This trend is expected to continue over the forecast period, driving the growth of the market.

Moreover, with the increase in burden of hemostasis disorders, the demand for platelet aggregation devices is also increasing with a rapid pace, worldwide, as platelet arrogation testing is essential for the diagnosis of hemostasis/bleeding disorders. Bleeding disorders are a group of conditions in which there is a problem with the body's blood clotting process. This trend is expected to continue during the forecast period, driving the growth of the market.

Global Platelet Aggregation Devices Market Restraints:

High cost of platelet aggregation devices and shortage of skilled personnel is expected to hamper growth of the global platelet aggregation devices market. For instance, although new technologies, devices, or systems are having profound impact on patients, doctors, and healthcare organizations, the medical workforce (skilled personnel) falls short as a career choice for many reasons, leading to the current shortage. This is one of the significant challenges faced by the platelet aggregation devices market, which hinders the growth of the market.

Figure 2. Global Platelet Aggregation Devices Market Share (%), by Product, 2022

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Global Platelet Aggregation Devices Market Segmentation:

The global platelet aggregation devices market report is segmented into Product, Application, End User, and Geography.

Based on Product, the platelet aggregation devices market is segmented into Systems, Reagents, and Consumables and Accessories. Out of which, Systems Segment is expected to dominate the platelet aggregation devices market over the forecast period and this is attributed to the increase in adoption of platelet aggregation systems. Platelet aggregation systems (or aggregometers) can be used to determine how well platelets stick together.

Reagents Segment is also expected to witness significant growth in the near future and this is owing to the increase in use of platelet aggregation reagents. The reagents are selected on the basis of the method type on which platelet aggregometry is performed.

Based on Application, the global platelet aggregation devices market is segmented into Clinical Applications and Research Applications. Of which, Research Applications Segment is expected to dominate the market over the forecast period and this is attributed to the increase in research and development across the world. Platelet aggregation is being used in various research studies such as in toxicology and screening of novel medical preparations.

Based on End User, the market is segmented into Hospitals, Diagnostic Laboratories, and Other End Users. Out of which, Hospitals Segment is expected to dominate the market over the forecast period and this is attributed to the increase in number of surgeries. Platelet aggregation devices are used in to detect abnormalities in platelets during surgeries in hospitals.

Diagnostic Laboratories Segment is also expected to witness significant growth in the near future and this is owing to the increase in prevalence of chronic diseases worldwide.

Global Platelet Aggregation Devices Market: Key Developments

In May 2019, Haemonetics received the U.S. Food and Drug Administration (FDA) clearance in expanded use of TEG 6s Hemostasis Analyzer System in adult trauma setting for cardiovascular surgery and cardiology procedures.

In April 2019, Aggredyne Inc. received the U.S. Food and Drug Administration (FDA) approval for AggreGuide A-100 ADP Assay testing cartridge an in vitro diagnostic device used to measure various antiplatelet medications that target the platelet P2Y12 receptor.

Global Platelet Aggregation Devices Market: Key Companies Insights

The global platelet aggregation devices market is highly competitive. This is attributed to the rise in adoption of or demand for platelet aggregation devices/systems, as a result, players in the market are focusing on launching novel products in the market.

Some of the key players in the global platelet aggregation devices market are Sysmex Corporation, WerfenLife SA, Siemens Healthineers, Sentinel Ch. SpA, Haemonetics Corporation, Chrono-Log Corporation, Bio/Data Corporation, Aggredyne Inc., F. Hoffmann-La Roche Ltd., and Helena Laboratories Corporation, among others.

*Definition: Platelet function tests are a group of assays use to measure the ability of platelets to aggregate and promote clotting in a sample of blood. Thus, platelet aggregation devices are often used to treat cardiovascular and bleeding disorders.