The report forecasts the global blood coagulation analyzer market to grow at a CAGR of 8.58% during the period 2016-2020.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
According to the report, there has been an increase in the number of strategic initiatives taken up by coagulation analyzer providers worldwide, which has contributed to the growth of the market. These initiatives aim to leverage each other's unique selling propositions (USPs) such as strong customer bases, technology, strong financial capabilities, and R&D capabilities. This has resulted in many partnerships between companies in order to increase their market shares. These strategies have also helped companies venture into untapped markets, especially in developing countries, to increase their geographical reach by launching products in these countries and leveraging local players' market presence.
Further, the report states that the continuous improvements in coagulation analyzers have resulted in low adoption of the latest versions of these instruments (which include mechanical, optical, and electrochemical coagulation analyzers) owing to the high costs involved in the transformation from manual to semi-automated to fully automated testing procedures, which are required for the smooth functioning of an analyzer.