Heart Failure POC & LOC Devices Market Size, Key Market Players, SWOT, Revenue Growth Analysis, 2018–2028
The global Heart Failure
POC & LOC Devices Market size is expected to reach USD
209.5 Million by 2028 and register a CAGR of 16.5% over the forecast period,
according to the latest report by Reports and Data. Rising prevalence of
cardiovascular diseases, increasing need for rapid diagnosis and treatment of
diseases, and growing demand for inexpensive and portable biosensing devices
are some key factors fueling global market revenue growth.
Lab-on-chip (LOC) technique is capable of enhancing disease
diagnosis due to its features including easy operation, high throughput, and
rapid results. POC testing finds application across various settings such as
hospitals, clinics, remote areas, and general practice. Another factor
supporting market growth is development of predictive modeling technique-based
decision support tools to analyze data measured by LOC assays. In addition,
increasing investments in diagnostics, rising funding for study of
cardiovascular and heart diseases, and integrating mobile applications in POC
diagnosis to manage patient’s cardiac health is expected to boost global market
growth in the coming years.
Factors such as undesirable reimbursement schemes for POC
devices for multiple testing, high cost of products, and stringent regulatory
framework are some key factors expected to restrain global market growth.
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Abbott,
Siemens Healthineers, Danaher, Instrumentation Laboratory, F. Hoffmann-La Roche
Ltd., bioMérieux S.A., Abaxis, Inc., Quidel Corporation, Jant Pharmacal
Corporation, and Trinity Biotech are some major companies operating
in the global hearth failure POC & LOC devices market.
Some key highlights from the report:
- Based
on test type, the genomic segment is expected to account for considerably
rapid revenue growth during the forecast period owing to technological
advancements in omics that help in identifying novel biomarkers for
predicting risks associated with heart attacks.
- Among
the technology, the microfluidics segment is projected to register largest
revenue share between 2018 and 2028 owing to advantages of microfluidics
technology including minimum sample and reagent requirement and fast
turnaround time. Moreover, high demand for cost-effective and quick
analysis biosensing devices is supporting market growth.
- Among
the end use segments, the clinics segment is expected to account for
largest revenue share over the forecast period. Adoption of POC devices at
outpatient clinics is increasing owing to rising prevalence of
cardiovascular diseases and disorders and need for timely diagnosis and
treatment.
- North
America accounted for largest revenue share in 2020, and is expected to
continue to dominate other regional markets in the global heart failure
POC & LOC devices market over the forecast period. Robust revenue
growth is attributed to factors such as rising prevalence of
cardiovascular diseases such as cardiac ischemia and myocardial
infarction, increasing demand for diagnosis and treatment of these
diseases, availability of latest equipment and devices, and presence of
major players in the region.
- Asia
Pacific is projected to register substantially rapid revenue growth rate
during the forecast period. Increasing prevalence of cardiovascular
diseases, rising investments by governments and various organizations in
research and development activities, and rapidly growing diagnostic market
are some key factors fueling growth of the heart failure POC & LOC
devices market in Asia Pacific.
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For this study, Reports and Data has segmented the global
heart failure POC & LOC devices market based on test type, technology, end
use, and region:
Test Type Outlook (Revenue, USD Million, 2018-2028)
- Proteomic
Testing
- Metabolomic
Testing
- Genomic
Testing
Technology Outlook (Revenue, USD Million, 2018-2028)
- Microfluidics
- Array-based
Systems
- Others
End-use Outlook (Revenue, USD Million, 2018-2028)
- Clinics
- Hospitals
- Home
- Assisted
Living Healthcare Facilities
- Laboratories
Regional Outlook:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- Italy
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Rest of MEA
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