Thromboelastography Analyzer Market Size, Share, Growth, and Industry Growth, By Type (Single and Double Channel, Four Channels and Others), By application (Hospital, Maternal and Child Health Service, Laboratory and Others), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

Thromboelastography Analyzer Market Report Overview

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The global thromboelastography analyzer market size was USD 275 million in 2021 and is projected to touch USD 957.3 million by 2031, at a CAGR of 13.3% during the forecasting period. 

A viscoelastic hemostatic assay called thromboelastography (TEG) examines the overall viscoelastic characteristics of whole blood clot formation under mild shear stress. TEG demonstrates how platelets interact with the coagulation cascade. Whole blood is divided into the following distinct components: platelet concentrates, cryoprecipitate, FFP, PRBC, and FFP; FFP may also be further divided into separate factor concentrates. The ability of the clinician to rationally employ the components of each donated unit is maximised through fractionation, which also reduces the number of needless transfusions. Less volume of a particular product may also be transfused. Fractionation enables more efficient product management because the various components also demand different storage temperatures. The method of centrifugation and flash freezing is the foundation for blood component fractionation. Slow centrifugation is used to separate whole blood into red cells and platelet-rich plasma.

Trauma patients' impending risk for major transfusion might be identified with exceptional accuracy using just one modified TEG assay with exogenous tissue plasminogen activator (tPA). Clinical trials of thromboelastography analyzer in emergency resuscitation and elective surgery (heart and liver surgery) have demonstrated improvements in clinical outcomes. In elective surgery, there was less need for blood products (platelets and plasma), less time spent in the operating room, less time spent in critical care, and less bleeding, but mortality was unaffected.

COVID-19 Impact: Thromboelastography to Help Identify Patients Ad Increase Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with thromboelastography analyzer experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributed to the thromboelastography analyzer market growth and demand returning to pre-pandemic levels once the pandemic is over.

As the world struggled with the COVID-19 pandemic, closing hospitals and private offices, shortened hours, furloughs, and layoffs of doctors, nurses, and hospital staff appeared unthinkable. Patients with COVID-19 infection run a significant chance of experiencing kidney failure, a stroke, and other problems related to blood clot development. Early thromboelastography (TEG) assay may be helpful to identify COVID-19 patients who may need more anticoagulant therapy to minimise difficulties from clot formation, according to researchers from the University of Colorado Anschutz Medical Campus, Aurora.

Additionally, it is advised that all COVID-19 patients undergo coagulation testing at admission since COVID-19 patients who are at high risk have a large increase in D-dimer and prothrombin with a decrease in fibrinogen (non-survivors at days 10-14). The use of thromboelastography analyzer assay and other common coagulation tests in the clinical context is anticipated to increase as a result of this.

LATEST TRENDS

"TEG to Accelerate Platelet Diagnosis to Boost Market Growth"

TEG® uses a pin suspended in a cup that has been heated to 37C from a torsion wire connected with a mechanical-electrical transduce to measure the clot's physical characteristics in whole blood. The rotation of the pin is altered by the elasticity and strength of the growing clot, which is then translated into electrical signals that a computer can use to provide graphical and numerical output. It only needs to be calibrated two to three times a day and can be readily repeated, compared, and contrasted. It ought to be carried out by qualified staff. There are additional tests available, such as Multiplate, which assesses platelet function, and functional fibrinogen, a measurement of fibrin-based clot function. The R value on the TEG is an indicator of coagulation factor activity since it shows how long it takes for clot formation to begin. In essence, clot-forming enzymes are coagulation factors. Plasma that has been frozen can therefore be used to treat a much-extended R time.

Thromboelastography Analyzer Market Segmentation

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• By Type

Based on type; the market is divided into single and double channel, four channels and others.

In terms of product, four channels are the largest segment.

• By Application

Based on application; the market is divided into, hospital, maternal and child health service, laboratory and others.

In terms of application, hospital segment is the largest segment.

DRIVING FACTORS

"Lifestyle Associated Diseases to Propel Market Growth"

Over the course of the forecast period, it is anticipated that the prevalence of chronic blood disorders and the growing patient population suffering from diseases linked to lifestyle will propel the expansion of the thromboelastography market. People's hectic lives have compelled them to adopt an unhealthy lifestyle, which has increased the number of blood disorders and diseases sufferers. Patients now frequently request thromboelastography, which is now accessible in almost all hospitals.

"Increasing number of surgical procedures to Enhance Market Growth"

The expansion of the thromboelastography analyzer market is being driven by an increase in surgical treatments with high success rates. Patients can now select whatever procedure they find convenient, which helps them feel at ease and secure. An enormous part of the rise in patients was due to an increase in surgical operations.

RESTRAINING FACTORS

"Use of Citrate Storage to Restrain Market Growth"

A promising and extremely sensitive diagnostic for detecting underlying coagulopathy after traumatic brain injury is thromboelastography. However, it is advised to confirm with traditional coagulation tests (CCTs), which is a laborious and drawn-out process. Furthermore, because five minutes is the maximum time for running native blood samples when performing a thromboelastography analysis in a laboratory setting, it is necessary to transport blood samples for longer periods of time. Therefore, citrate or heparin storage of the blood sample is required. The usage of citrate storage has reportedly been shown to affect the thromboelastography analysis's outcomes. Therefore, it is anticipated that these thromboelastography analyzer disadvantages will slow market expansion.

Thromboelastography Analyzer Market Regional Insights

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"North America to Dominate Market Due to Increased Blood Disorders"

Leukemia, lymphoma, and myeloma are all often diagnosed among Americans. In North America, thousands of new cases of blood disorders are reported each year, making it the dominant region. North America owns largest part of thromboelastography analyzer market share. People associated with unhealthy lifestyle led to increased number of medical facilities which proved to be beneficial for the market.

KEY INDUSTRY PLAYERS

Application of New Approaches to Promote Market Growth

Thromboelastography analyzer market participants, innovations, and strategies are part of the competitive landscape over time. Market players are focused on adoption of inorganic growth strategies such as collaborations and agreements to strengthen their position in the thromboelastography market. The research gives information on competitors and their access to cutting-edge technologies that can redefine their offers. The study provides analysis based on market data provided by the leading players. The companies that create and offer new products, the regions in which they operate, automation, technology adoption, generating the most income, and using their products to make a difference are other aspects considered for this market.

List of Market Players Profiled

• Haemonetics (U.S.)
• Lepu Technology (China)
• Biomart (U.S.)
• Medcaptain (U.S,)
• Ud-bio (China)
• Chongqing Nanfang (China)
• WITEYE (U.S.)
• Render (U.S.)
• Guizhou Jinjiu Biotech (China)
• Chongqing Dingrun (China)
• Zhejiang Shengyu (China)

KEY INDUSTRY DEVELOPMENT

• April 2020: The acquisition of enicor GmbH, a producer of the whole blood coagulation testing system ClotPro, was announced by Haemonetics Corporation. This system is anticipated to improve the marketability of its goods, including the TEG 5000 Hemostasis Analyzer and the TEG 6s Hemostasis Analyzer. The ClotPro technology minimises problems with reagent handling and decreases the requirement for annual pipetting.

REPORT COVERAGE

The research study on thromboelastography analyzer looks at and forecasts countries all over the world, and current trends and opportunities in dominating regions. The report examines the industry's drivers, constraints, and opportunities. The study covers potential, sectors, and areas with prospective growth. The structure of the thromboelastography analyzer market, and projections for the next few years are provided. Data from the past and projections for the future are provided.