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  • Published On : Jan 2023
  • Code : CMI2371
  • Industry : Medical Devices
  • Pages : 159
  • Formats :

Thromboelastography is a technique for evaluating the effectiveness of blood coagulation. Although, it is increasingly being utilized in resuscitations in emergency rooms, critical care units, and labor and delivery rooms. The test is mostly used in anesthesia and surgery. Thromboelastography (TEG) is a non-invasive test that analyses whole blood's ability to clot quantitatively. The goal of this in vitro test is to identify and measure dynamic alterations in a blood sample's viscoelastic characteristics that occur during clotting under low shear stress. A Thromboelastography is a specially created system, which is used to conduct the test. The device uses two chambers to examine a blood sample in parallel while reducing the possibility of measurement and sampling errors. The body's defence against potentially fatal exsanguination is based on the blood's capacity to coagulate, or change from a liquid to a solid form. The thrombosis process typically only occurs locally at the site of arterial damage, leaving the remaining blood in circulation in a liquid state.

The global thromboelastography market is estimated to be valued at US$ 604.07 Mn in 2022 and is expected to exhibit a CAGR of 7.1% over the forecast period (2022-2030).

Figure 1: Global Thromboelastography Market Share (%) Analysis, by Type,2022 

Thromboelastography  | Coherent Market Insights

Global Thromboelastography Market– Drivers

Increasing number of product launches by market players is expected to drive the global thromboelastography market growth over the forecast period. For instance, on April 28, 2022, Nordic Biomarker is a Sweden based manufacturer of advance reagent, calibrators and controls for coagulation and clinical chemistry analyzers launched vWF Antigen. “Von Willebrand factor”, which is a large protein that plays an important part in the coagulation process. Up to 1% of people have von Willebrand Disease (vWD), the most prevalent inherited bleeding illness. The diagnosis denotes either a lack of sufficient quantity or quality of vWF, which causes abnormal bleeding in the patient. A vWF Antigen assay is one of the several processes that make up the difficult diagnosing procedure.

The increase in number of research and development activities is expected to boost the growth of global thromboelastography market over the forecast period. For instance, on January 10, 2020, an article published in Multidisciplinary Digital Publishing Institute (MDPI), Viscoelastic tests results does not clearly split platelet count from function. Moreover, extensive thrombin generation from standard activated viscoelasticity assays activates platelets through protease-activated receptors, bypassing other pathways. For this reason, standard viscoelastic tests cannot be used to assess platelet reactivity under the action of aspirin or P2Y12 inhibitors. To overcome this problem a new technique was developed called as thromboelastography platelet mapping, it is a modification of the standard TEG and it evaluates platelet function through direct activation of arachidonic acid (AA) and adenosine diphosphate (ADP) receptors.

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Thromboelastography Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2022: US$ 604.07 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 7.1% 2030 Value Projection: US$ 1042.63 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Type: Standard (kaolin), Rapid TEG, Native TEG, Heparinase, Functional Fibrinogen, Functional Fibrinogen, Platelet Mapping
  • By Application: Cardiopulmonary Bypass, Liver Surgery, Trauma surgery, Obstetrics
  • By End User: Hospitals, Blood Banks, Academic Institutes, Others (Research Laboratories, Research Institutes)
Companies covered:

Lepu Medical Technology (Beijing) Co.,Ltd., Render Biotech Co., Haemonetics Corporation, TA Instruments, HemaCore LLC, 5-Diagnostics, Xenometrix AG, Framar Hemologix srl, Instrumentation Laboratory, Medirox AB, Diagnostica Stago, Life Diagnostica, SYCOmed e.K., Nordic Biomarker, and Shenzhen Ultra-Diagnostics Biotec. Co., Ltd.

Growth Drivers:
  • Increase in number of research and development activities 
  • Increasing number of product launches by market players 
Restraints & Challenges:
  • Accuracy related to results might hamper with change in storage condition

Global Thromboelastography Market- Impact of the Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020.

The COVID-19 can affect the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others are facing problems with regard to the transportation of drugs from one place to another.

For instance on May 15, 2020, a press release by American College of Surgeons (ACS) stated that clotting is particularly severe in COVID-19 patients who develop disseminated intravascular coagulation (DIC), as evidenced by case studies in China and elsewhere. As noted, these patients’ blood clots do not appear to have resolved. To overcome the risk of severe and lethal clotting in COVID-19 patient’s thromboelastography was used.

Global Thromboelastography Market– Restraints

Standard platelet concentrates (PCs) are to be stored at 22 °C and it has shelf life of 5 days. Due to storage temperatures, bacterial contamination of PCs can lead to life-threatening infections in transfusion patients. For instance, on December 06, 2021, a recent article published in Association for the Advancement of Blood & Biotherapies (AABB), stated that, Thromboelastometry assays have been applied to assess standard platelet concentrates quality globally. A study using thromboelastography on buffy coat standard platelet concentrates revealed that this method may not be sensitive enough to detect quality changes associated with normal storage.

Global Thromboelastography Market– Regional Analysis

On the basis of region, the global thromboelastography market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

Among regions, North America is expected to hold a dominant position in the market during the forecast period, owing to the increasing number of approvals by regulatory authorities is expected to drive the market growth over the forecast period. For instance, Idarucizumab, a monoclonal antibody specific for the dabigatran molecule, has now received the U.S. FDA approval for use as an antidote. Similar antibodies are being developed to ask the FDA for permission to reverse xabans (Xa) inhibitors like Andexanet Alpha. Since the thrombin time and the ecarin clotting time, which can quantify coagulation with the Non-Vitamin K antagonist oral anticoagulants (NOACs), are not widely available, it is likely that the Thromboelastography (TEG)/ Thromboelastometry (ROTEM) will be used to determine the efficacy of these antidotes.

Figure 2: Global Thromboelastography Market Value (US$ Mn), by Region, 2022

Thromboelastography  | Coherent Market Insights

Global Thromboelastography Market– Competitive Landscape

Major players operating in the global thromboelastography market include Lepu Medical Technology (Beijing) Co.,Ltd., Render Biotech Co., Haemonetics Corporation, TA Instruments, HemaCore LLC, 5-Diagnostics, Xenometrix AG, Framar Hemologix srl, Instrumentation Laboratory, Medirox AB, Diagnostica Stago, Life Diagnostica, SYCOmed e.K., Nordic Biomarker, and Shenzhen Ultra-Diagnostics Biotec. Co., Ltd

The thromboelastography protects against the severe blood loss or hemorrhage occurred during severe injury or during a surgery.  Thromboelastography (TEG) is more frequently used in cardiac surgery, organ transplants, and arteriovenous malformation surgeries where the anticipated blood loss is greater than 40% of the circulating blood volume because it performs an in vitro analysis of the relationship between platelets, enzymes, fibrinogen, and other coagulation elements in a comprehensive manner. Through platelet mapping, patients using antiaggregants like clopidogrel or aspirin can have their platelet activity assessed. This is made possible by include TEG in the pre-anesthetic assessment.

Market Dynamics

Increasing initiatives in developing new methods by market players is expected to boost the growth of global thromboelastography market over the forecast period. For instance, on February 20, 2022, an article published in national library of medicine, asserted that Coagulopathies pose additional diagnostic and therapeutic difficulties in the field of otolaryngology—head and neck surgery (ENT). Management of coagulopathies in both hyper- and hypocoagulable individuals necessitates careful consideration of the nature of hemostatic competence. Viscoelastic tests (VETs) such as thromboelastography (TEG) and rotational thromboelastometry (ROTEM) have long been methods of guiding blood component therapy (BCT). VETs have been widely adopted for the diagnosis and management of trauma-induced coagulopathy and bleeding conditions.

Increasing in the rate of new approvals by regulatory authorities such as the U.S. FDA is likely to boost the growth of global thromboelastography market over the forecast period. For instance, on January 11, 2021, Abbott Laboratories is a multinational company engaged in manufacturing and research of medical devices and health care products. Abbott received an FDA 510(k) clearance for the first rapid handheld blood test for concussion. The i-STAT Alinity handheld device from Abbott will be used to provide the test to help diagnose mild traumatic brain injury (TBI), also known as concussion. The test results are available 15 minutes after inserting a plasma sample.

Key features of the study:

  • This report provides an in-depth analysis of the global thromboelastography market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2022–2030), considering 2021 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global thromboelastography market  based on the following parameters – company highlights, products portfolio, key highlights, financial performance, strategies
  • Key companies covered as a part of this study include Lepu Medical Technology (Beijing) Co.,Ltd., Render Biotech Co., Haemonetics Corporation, TA Instruments, HemaCore LLC, 5-Diagnostics, Xenometrix AG, Framar Hemologix srl, Instrumentation Laboratory, Medirox AB, Diagnostica Stago, Life Diagnostica, SYCOmed e.K., Nordic Biomarker, and Shenzhen Ultra-Diagnostics Biotec. Co., Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global thromboelastography market  report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have an ease in decision-making through various strategy matrices used in analyzing the global thromboelastography market

Detailed Segmentation:

  • Global Thromboelastography Market, by Type:
    • Standard (kaolin)
    • Rapid TEG
    • Native TEG
    • Heparinase
    • Functional Fibrinogen
    • Platelet Mapping
  • Global Thromboelastography Market, by Application :
    • Cardiopulmonary Bypass
    • Liver Surgery
    • Trauma surgery
    • Obstetrics
  • Global Thromboelastography Market, by End User :
    • Hospitals
    • Blood Banks
    • Academic Institutes
    • Others (Research Laboratories, Research Institutes)
  • Global Thromboelastography Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Country/Region:
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Lepu Medical Technology (Beijing) Co.,Ltd *
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • Render Biotech Co.
    • Haemonetics Corporation
    • TA Instruments
    • HemaCore LLC
    • 5-Diagnostics
    • Xenometrix AG
    • Framar Hemologix srl
    • Instrumentation Laboratory
    • Medirox AB
    • Diagnostica Stago
    • Life Diagnostica
    • SYCOmed e.K.
    • Nordic Biomarker
    • Shenzhen Ultra-Diagnostics Biotec. Co., Ltd.

“*” marked represents similar segmentation in other categories in the respective section.

Frequently Asked Questions

The market is expected to exhibit a CAGR of 7.1% during the forecast period (2022-2030).
The market is estimated to be valued at US$ 604.07 Mn in 2022.
Major players operating in the market include Lepu Medical Technology (Beijing) Co., Ltd., Render Biotech Co., Haemonetics Corporation, TA Instruments, HemaCore LLC, 5-Diagnostics, Xenometrix AG, Framar Hemologix srl, Instrumentation Laboratory, Medirox AB, Diagnostica Stago, Life Diagnostica, SYCOmed e.K., Nordic Biomarker, and Shenzhen Ultra-Diagnostics Biotec. Co., Ltd.
The market is expected to be valued at US$ 1042.63 Mn in 2030
North America is the prominent region in the market.
Rapid TEG, which belongs to the Type segment, is the prominent segment in the market

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