The global INR test meter market is anticipated to experience significant growth, with a compound annual growth rate (CAGR) of 6.3% anticipated between 2023 and 2033. This trend is expected to raise the market value from an estimated US$ 1,336.1 million in 2023 to a considerable US$ 2,453.3 million by 2033, according to Future Market Insights.
The rising prevalence of blood disorders and cardiovascular ailments worldwide is the main factor contributing to this expansion. INR test meters are vital tools for patients and healthcare providers since blood clotting times for people with these conditions usually need to be constantly monitored.
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Increased knowledge of the illnesses is expected to result from the growth in demand for INR test meters, and this will significantly aid in improving diagnostic rates and the management of preventative therapy. The installation of these medical devices in public healthcare facilities is funded in part by the government, and the market is anticipated to grow as a result of the increased demand.
Key Takeaways :
- Future Market Insights considers that the INR test meter market contributed approximately 72.8% in 2021.
- United States is likely to hold a market share of 32.1% and considerably dominates North America’s
- INR test meter market in North America consists of a total share of about 35.6% in 2022
- Germany held a market share of nearly 3.6% in the INR test meter market.
- Europe INR test meter market holds a share of 32.0%.
- Devices are expected to account for around 79.7% in 2021 throughout the forecast period,
- Hospitals held the highest market share value of 32.4%, opines FMI.
Competitive Landscape
According to FMI, the INR test meter industry is anticipated to be quite competitive. Leading businesses are using strategies including mergers and acquisitions, partnerships and collaborations, and the introduction of new technology products to match consumer demand and grow their client base. Among the significant advancements made by the major market participants are:
- In December 2022, Abbott Laboratories invested $536 million in building a new manufacturing facility in Bowling Green, Ohio, state officials announced this week
The facility produces specialty and metabolic powder nutritional products, some of which are used by individuals with extreme food allergies or other dietary conditions.
- In July 2023, German-based Siemens Healthineers is bringing cutting-edge surgical training and technology for Atrium Health’s future medical school as its first strategic partner.
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Key Companies:
- F. Hoffmann-La Roche Ltd
- Lepu Medical Technology (Beijing) Co. Ltd.
- ACON Laboratories, Inc.
- CoaguSense Inc.
- Abbott
- Eurolyser Diagnostica GmbH
- Horiba ABX SAS
- Avalun SAS
- Roche Diagnostics
- Siemens Healthineers
Key Segments :
By Product:
- Device
- Lancet
- Test Strips
By End User:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
- Homecare Settings
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- Oceania
- Middle East and Africa
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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