South & Central America Coagulation Analyzers Market

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 Strategic Insights

Strategic insights for the South & Central America Coagulation Analyzers provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

South & Central America Coagulation Analyzers Report Scope

South & Central America Coagulation Analyzers Regional Insights

The geographic scope of the South & Central America Coagulation Analyzers refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

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.