Heart Failure POC And LOC Devices Market To Reach $284.9 Million By 2030

Heart Failure POC And LOC Devices Market Growth & Trends

The global heart failure POC and LOC devices market size is expected to reach USD 284.9 million by 2030 and is projected to grow at a CAGR of 16.9% from 2023 to 2030, according to a new report by Grand View Research, Inc.  A paradigm shift in diagnostic sectors from late-stage disease detection to early identification of diseases as a viable strategy to curb rising healthcare costs has driven the market. This shift has led to the development of disposable and low-cost LOC devices that integrate various sensors and associated accessories in a single space for detection of the cardiac biomarkers from a single specimen to evaluate the risk of having a heart attack.

Furthermore, the development of predictive modeling techniques-based decision support software to analyze the data measured by the LOC assays to enable therapy monitoring is one of the key market drivers. Also, ongoing studies on the application of saliva-based nano-biochip tests for measuring myocardial infarction is driving organic revenue growth.

POC testing exhibits potential savings across various settings, including hospitals, general practice, and remote areas. In the U.S., the employment of POC devices resulted in a 20% decrease in hospital admissions to the chest pain unit, resulting in substantial savings in time and costs.

In the cardiac observation unit (U.S.), the implementation of POC troponin testing helped reduce hospital stays, decrease admission rates, and remove the need for multiple costly procedures, resulting in 25% cost saving per patient. Furthermore, the integration of smartphones and apps in POC diagnostics for managing the cardiac health of an individual is one of the significant innovations in Heart Failure POC & LOC Devices market.

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Heart Failure POC And LOC Devices Market Report Highlights

• Proteomic analysis includes products that test protein markers, such as troponin, myoglobin, and Creatine Kinase MB Isoenzyme (CK-MB)

• This segment accounted for the leading revenue share, as most of the currently available products are based on testing of protein markers

• Increasing implementation of microfluidic LOC technology for assessing putative biomarkers has led to the largest revenue share of this technology

• Microfluidic technologyhas been implemented for various biological applications, such as immunohybridization techniques, enzymatic assays, PCR, and others

• Clinics that include physician’s office, pharmacy & retail clinics, urgent care clinics, and non-practice clinics are the key revenue generating end-users

• A high usage rate of POC devices by general practitioners for rapid investigation, deciding early treatment, timely referral, and less uncertainty for patients has driven the revenue growth through clinics

• The U.S. dominated the global Heart Failure POC & LOC devices market owing to the presence of a substantial number of primary care clinics that are deploying POC cardiac marker test as a measure for early detection of heart failure

• Expanding urbanization and increasing geriatric population underpin the demand for robust and improved healthcare services such as POC diagnostics for routine cardiac health monitoring in Asian countries

• Moreover, initiatives are undertaken for training young healthcare personnel about POC cardiac troponin T/cardiac troponin I biomarkers

• This, in turn, is anticipated to result in the surging adoption rate of POC devices in Asian countries

• Abbott, Siemens Healthineers, Danahar, and F. Hoffmann-La Roche Ltd are some key participants operating in the space

• Companies are engaged in mergers and acquisitions of emerging players. Acquisition of Alere by Abbott, Beckman Coulter, Inc by Danahar, and Accriva Diagnostics by Instrumentation Laboratory are some examples of acquisitions in this market

Heart Failure POC And LOC Devices Market Segmentation

Grand View Research has segmented the global heart failure POC and LOC devices market based on test type, technology, end use, and region

Heart Failure POC And LOC Devices Test Type Outlook (Revenue in USD Million, 2018 - 2030)

• Proteomic Testing

• Metabolomic Testing

• Genomic Testing

Heart Failure POC And LOC Devices Technology Outlook (Revenue in USD Million, 2018 - 2030)

• Microfluidics

• Array-based Systems

• Others

Heart Failure POC And LOC Devices End Use Outlook (Revenue in USD Million, 2018 - 2030)

• Clinics

• Hospitals

• Home

• Assisted Living Healthcare Facilities

• Laboratory

Heart Failure POC And LOC Devices Regional Outlook (Revenue in USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Thailand

  • South Korea

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East and Africa

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of Heart Failure POC And LOC Devices Market

• Abbott

• Danahar

• Siemens Healthineers

• F. Hoffmann-La Roche Ltd.

• Quidel Corporation

• bioMérieux S.A

• Trinity BiotechInstrumentation Laboratory

• Abaxis, Inc