Fibrinogen Testing Market

Fibrinogen Testing Market Outlook (2024 to 2034)

The global fibrinogen testing market size is estimated to expand from US$ 209.7 million in 2024 to US$ 493.1 million by 2034. Over the assessment period, demand for fibrinogen testing is projected to grow at 8.9% CAGR.

Fibrinogen testing is becoming an ideal medical procedure/blood test to measure the fibrinogen level in blood. Its importance and demand are rising rapidly due to growing prevalence of hematological disorders and cardiovascular diseases, and the trend is expected to continue through 2034.

Fibrinogen testing is mostly employed for monitoring liver function and assessing cardiovascular diseases and blood clotting disorders. Hence, rise in cases of these diseases will directly uplift fibrinogen testing demand and boost sales of fibrinogen testing kits over the forecast period.

Medical professionals use different fibrinogen testing methods to measure fibrinogen levels. Among these, clauss method and immunologic assays, including nephelometry and enzyme-linked immunosorbent assay (ELISA), are highly popular and effective.

Fibrinogen testing is critical in measuring and monitoring low and high fibrinogen in pregnancy. This application of fibrinogen testing will further support expansion of the target industry.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 209.7 million
Projected Market Size (2034F)	US$ 493.1 million
Global Market Growth Rate (2024 to 2034)	8.9% CAGR
End-stage Liver Disease Segment Market Share (2034)	29.9%
Hospitals Growth Rate (2024 to 2034)	9.4%
North America Market Share (2034)	21.8%
East Asia Market Share (2034)	21.8%
Key Companies Profiled	Siemens Healthcare GmbH Grifols Thermo Fisher Scientific Inc. Stago Helena Laboratories Corporation Tulip Diagnostics (P) Ltd. Werfen Technoclone Biosystems S.A. Medirox AB Randox Laboratories Ltd. Kamiya Biomedical Company Pathway Diagnostics Limited MedTest Enzyme Research Laboratories (r2 Diagnostics)

Fibrinogen Testing Market Analysis:

Which Factors are Fueling Fibrinogen Testing Demand?

“Growing Prevalence of Blood Clotting Disorders”

In the last few years, there has been a sharp surge in cases of blood disorders. For instance, an estimated 347,026 people suffered from bleeding disorders globally in 2020, as per the World Federation of Hemophilia (WFH). This is expected to propel demand for fibrinogen testing.

Fibrinogen testing is necessary for diagnosing and monitoring blood disorders such as von Willebrand disease, disseminated intravascular coagulation, and hemophilia. Hence, rising cases of blood clotting disorders, including both thrombotic and bleeding conditions, will likely boost the fibrinogen testing market growth.

People, especially across nations like India and China, are becoming aware of bleeding disorders and the importance of early diagnosis. This can positively impact overall sales of fibrinogen testing instruments and reagents.

“High Adoption of Automated Coagulation Instruments”

The market is also witnessing high adoption of automated coagulation instruments in response to growing demand for spontaneous testing and quicker results. This is anticipated to facilitate expansion of the global fibrinogen testing industry during the assessment period.

Top companies are focusing on introducing advanced coagulation analyzers with enhanced features. Similarly, new fibrinogen testing kits are being launched in the market to meet evolving needs of end users. This will bode well for the market.

What are the Key Fibrinogen Testing Market Trends?

“Advancements in Fibrinogen Testing Technologies and Rise of Preventive Healthcare”

As the importance of fibrinogen testing continues to rise, key players are diverting their attention towards developing faster, more accurate, and POC fibrinogen testing devices. These new fibrinogen testing solutions enable quicker diagnosis and treatment decisions, thereby encouraging their adoption and fueling their demand.

Several companies are also integrating fibrinogen testing into multiplex panels alongside other coagulation tests to enhance overall patient assessment. This will further boost the coagulation testing market during the assessment period.

Rising focus on preventive healthcare and early disease detection is anticipated to propel fibrinogen testing demand. Subsequently, increasing trend toward personalized medicine will likely create growth opportunities for fibrinogen testing kit manufacturers.

Which Factors are Limiting Market Expansion?

“Low Awareness and High Equipment Costs”

Despite a strong growth trajectory, certain factors are expected to limit expansion of the target market. These include high cost of fibrinogen testing equipment. Modern testing equipment are integrated with advanced technologies, which significantly increase their prices. As a result, many end users are hesitant to purchase them.

Another factor limiting market growth is the lack of awareness across several developing and developed regions. People in certain areas know little about bleeding disorders, their diagnosis, and treatments. This can negatively impact the overall market performance.

Country-wise Insights

When it comes to market dominance, North America and East Asia are becoming top contenders. Both regions are expected to attain the exact valuation of around US$ 107 million by 2034. This is due to thriving healthcare industry in these regions, growing prevalence of blood disorders, and availability of advanced diagnostic technologies and blood testing services.

The East Asia fibrinogen testing market is set to grow with a robust CAGR of 10.0% through 2034. On the other hand, the North America fibrinogen testing industry will register a CAGR of 8.3%. Despite this variation in CAGRs, these two regions will end up with the same market share of 21.8% by the end of the forecast period.

Nations like India, Korea, Japan, and China are becoming highly lucrative markets for fibrinogen testing companies. For instance, a strong growth trajectory has been predicted for the fibrinogen testing market in India for the assessment period.

What is the United States Fibrinogen Testing Market Forecast?

“Rising Incidence of Cardiovascular Disorders Propelling Demand in the United States”

The United States fibrinogen testing market is projected to reach US$ 78 million by the end of 2034. Overall demand for fibrinogen testing in the United States is set to rise at a healthy CAGR of 8.4% during the assessment period.

Several factors are expected to spur growth in the United States fibrinogen testing industry. These include increasing prevalence of chronic diseases, high adoption of point-of-care (POC) testing devices, and strong presence of leading fibrinogen testing kit manufacturers.

The United States is witnessing a spike in cases of cardiovascular diseases like heart failure and atrial fibrillation due to changing lifestyle and eating habits, excessive smoking, and other factors. This is expected to create a high need for fibrinogen testing for risk disease assessment and management.

Another prominent factor increasing the United States fibrinogen testing market share is the rising popularity of point-of-care testing (POCT). As POCT allows for convenient and rapid testing in different settings, it is gaining wider traction in the United States. This will contribute to increasing fibrinogen testing demand.

The United States is home to several leading diagnostic companies, fibrinogen testing equipment manufacturers, and research institutes. These players are striving to develop more sensitive and specific fibrinogen assays to meet end user demand.

Researchers are also concentrating on exploring novel biomarkers to enhance the predictive value and accuracy of fibrinogen tests. Similarly, role of fibrinogen concentrate is being closely monitored in disease management. This will bode well for the target market.

Why is Japan Becoming a Highly Lucrative Market for Fibrinogen Testing in East Asia?

“Increasing Geriatric Population Making Japan a Highly Lucrative Market”

Japan fibrinogen testing market value is projected to total US$ 43.0 million by 2034. Over the assessment period, sales of fibrinogen testing reagents are anticipated to rise at a CAGR of 10.1%. This can be attributed to rising geriatric population, increasing cases of hematologic disorder, and adoption of advanced coagulation instruments and reagents.

The rapidly growing geriatric population in Japan has a profound impact on the fibrinogen testing demand. As per age, chances of age-related health conditions associated with abnormal fibrinogen levels, such as sepsis and liver disease, increase significantly. This creates demand for fibrinogen testing for diagnosis and monitoring.

Patients in Japan are also showing an inclination towards personalized medicine. This will further propel demand for fibrinogen testing as it provides valuable insights for personalized management of chronic diseases and targeted therapies.

Category-wise Insights:

The below section offers profound insights into top segments and their respective shares in the market. Based on indication, the end-stage liver disease segment is set to grow at a higher CAGR of 9.2% through 2034. By end user, hospitals segment will dominate the market with an expected share of 47.9% in 2034.

Which Indication Segment will Generate Significant Growth Opportunities for the Market?

“End-stage Liver Disease to Create Lucrative Growth Prospects for the Market”

Based on indication, end-stage liver disease segment is expected to lead the global industry during the forecast period. It will likely grow at a CAGR of around 9.2% through 2034, contributing a revenue share of 29.9%.

Increasing incidence of end-stage liver disease (ESLD) is a prominent factor driving demand for fibrinogen testing. Similarly, growing importance of fibrinogen testing in monitoring liver function will benefit the segment.

Fibrinogen testing has become a vital tool in managing end-stage liver disease, especially cirrhosis. It helps to assess bleeding risk, guide treatment decisions (like fibrinogen replacement), and improve patient outcomes. Hence, rising cases of ESLD and the need to initiate proper treatment approaches will likely elevate fibrinogen testing demand through 2034.

Who is the Leading End User of Fibrinogen Testing Reagents and Instruments?

“Adoption of Fibrinogen Testing Reagents to Remain High in Hospitals”

Hospitals remain the leading end users of fibrinogen testing reagents and other instruments. This is attributable to increasing number of hospitals globally, rising patient footfall, and availability of advanced facilities in hospitals.

As per the latest report, the hospitals segment is projected to grow with a CAGR of 9.4% during the assessment period. By 2034, the target segment will likely hold a dominant value share of 47.9%.

Patients mostly opt for diagnostic procedures and treatment in hospitals due to low costs and availability of advanced technologies and healthcare professionals. This is expected to increase consumption of fibrinogen testing reagents across hospitals.

Competitive Landscape

Siemens Healthcare GmbH, Grifols, Thermo Fisher Scientific Inc., Stago, Helena Laboratories Corporation, Tulip Diagnostics (P) Ltd., Werfen, Technoclone, Biosystems S.A., Medirox AB, Randox Laboratories Ltd. Kamiya Biomedical Company, Pathway Diagnostics Limited, MedTest, and Enzyme Research Laboratories (r2 Diagnostics) are few of the leading manufacturers of fibrinogen kits and devices listed in the report.

Key fibrinogen testing companies are continuously launching new reagents and fibrinogen testing devices to stay ahead of the competition. They are also employing strategies like partnerships, distribution agreements, mergers, acquisitions, and collaborations.

Recent Fibrinogen Testing Market Developments :

• In 2022, qLabs FIB, a new point-of-care (POC) device, was launched by Diagnostica Stago for measuring fibrinogen levels from a single drop of whole blood.

• In December 2023, Thermo Fisher Scientific signed a distribution agreement with Aesku Group for IFS testing kits and instruments.
• In March 2023, Werfen completed the acquisition of Immucor, Inc., a leading United States-based company in the in vitro diagnostics (IVD) sector. The acquisition will help the company expand its leadership in specialized diagnostics.

Fibrinogen Testing Market Segmentation:

• By Reagent Type :

  • Q.F.A. Thrombin Kits
  • Fibrinogen Kits
  • Multifibren U Kits
  • STA-fibrinogen Kits
  • Imidazole Buffer Kits

• By Indication :

  • Congenital Fibrinogen Disorders
  • Fibrinogen Storage Disease
  • Hereditary fibrinogen Aα-Chain amyloidosis
  • Acquired Dysfibrinogenemia
  • Cryofibrinogenemia
  • Disseminated Intravascular Coagulation (DIC)
  • End-stage Liver Disease

• By End User :

  • Hospitals
  • Clinics
  • Diagnostic Laboratories
  • Ambulatory Care Centers
  • Academic & Research Institutes

• By Region :

  • North America
  • Europe
  • Latin America
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa