The global hemostasis diagnostics market has witnessed significant growth over the years, primarily due to the increasing prevalence of blood clotting disorders and the high incidence of cardiovascular diseases. In this article, we explore the key drivers behind this market’s expansion and how technological advancements are playing a crucial role in revolutionizing hemostasis diagnostics.
Rise in Prevalence of Blood Clotting Disorders
Abnormal bleeding, which occurs when the body cannot produce clotting factors to stop bleeding, is a common symptom of blood clotting disorders. Conditions like Hemophilia A and B, as well as deficiencies in clotting factors II, V, VII, X, or XII, are associated with these disorders. Shockingly, more than 440,000 people globally suffer from hemophilia, with 75% of these individuals living in less developed and developing countries.
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In the United States alone, over 13,600 people were diagnosed with hemophilia A, while approximately 4,100 were diagnosed with hemophilia B in 2018. Notably, hemophilia is more prevalent among males, with around 90% of hemophilia A cases occurring in men. The global prevalence of these conditions highlights the pressing need for effective hemostasis diagnostics and treatment.
High Prevalence of Cardiovascular Diseases
The prevalence of various diseases, such as cancer, diabetes, and neurological disorders, has surged due to factors like an aging population and changing lifestyles, particularly in developing economies. Cardiovascular diseases, in particular, have become a major concern worldwide. According to the World Health Organization (WHO), cardiovascular diseases account for approximately 17.5 million deaths globally, representing about 31% of all global deaths.