The Heart Failure POC & LOC Devices Market Size was valued at USD 83.84 million in 2022, and is expected to reach USD 286.42 million by 2030 and grow at a CAGR of 16.6% over the forecast period 2023-2030.
In contrast to Lab-On-Chip (LOC) devices, which combine many laboratory activities on a single circuit to allow automation and high throughput screening, Point-of-Care (POC) devices are used to obtain diagnostic data close to the patients. Heart failure can be diagnosed using POC assays, and POC and central lab testing can both be done using LOC device technology. Point-of-care testing finds heart markers and other time-critical indications to address the challenges of health inequities. The global market for POC & LOC devices for heart failure is being driven by reasons including a growth in cardiovascular diseases (CVDs), an increase in the elderly population, and increased R&D for POC & LOC devices. Unfavorable reimbursement practices, however, could impede market expansion during the projection period.
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DRIVERS
More cardiovascular disorders
more R&D is being done for POC and LOC devices
Increase in the elderly population
RESTRAINTS
Ambiguous payment procedures
OPPORTUNITIES
Increased investment in the study of cardiovascular and heart diseases
Creation of more recent, suitable POC and LOC heart failure biomarkers
CHALLENGES
Lack of knowledge of regulatory requirements
People all around the world have been impacted by the current COVID-19 pandemic, which has also forced the closure of operational facilities globally. Unexpected difficulties arose for the healthcare industry during the shutdown. Medical device and other healthcare product manufacture ceased as the manufacturing facilities were shut down. Additionally, the supply network for medical supplies was broken, which increased manufacturing stockpiling.
For the businesses in the heart failure POC & LOC devices industry, this COVID-19 pandemic is also presenting prospects. Many COVID-19 survivors will be at risk for developing pulmonary hypertension, chronic right heart failure, and diastolic dysfunction, particularly those who have recovered from serious illness with considerable hypoxemic respiratory failure and thromboembolic repercussions. Additionally, the need for POC & LOC devices for heart failure is anticipated to rise because to the growing demand for electronic health records, telehealth, and constraints limiting patients avoid physically visiting hospitals and testing labs.
By Test Type
Clinicians can benefit greatly from knowledge of the pathways involved in heart failure (HF) provided by circulating protein biomarkers. Thanks to developments in proteomics, researchers may now simultaneously evaluate a large number of proteins with great sensitivity and selectivity to find low-abundance proteins. C-reactive protein (CRP), troponin, and B-type natriuretic peptide (BNP) are a few protein indicators that POC devices can identify as heart failure. Due to the rising need for precise and effective protein biomarkers like troponin for the diagnosis and treatment of heart failure, proteomic testing retained the majority of the market share in this sector.
Small organic compounds that are present in several metabolic processes are the subject of metabolomics research. Metabolomic profiles created through serum and breath analysis are available for patients with systolic heart failure, and they can be utilised clinically to diagnose and predict the condition.
Genomic testing makes it possible to diagnose heart failure by determining whether the patient has a gene mutation or genetic flaw that could result in an inherited heart condition (IHC). Laboratory-based detection methods like the Polymerase Chain Reaction (PCR) are frequently inaccessible in resource-constrained settings due to a lack of sophisticated infrastructures, dependable electricity, and skilled operators. Conversely, POCT enables on-the-spot detections in these circumstances.
By Technology
Microfluidics is well suited to modelling the circulatory system due to its inherent properties. Fluid manipulation and detection can be done in one device with a minimal number of samples by adding microfluidics into POC testing. Due to many benefits such low reagent demand, minimum sample size, and high throughput, microfluidics had the greatest share in the technology segment. Additionally, POC and LOC devices based on microfluidics aid in the identification and measurement of heart failure-related biomarkers, which are crucial for the diagnosis of heart failure.
By End User
Point-of-care testing is widely used in hospitals and clinics. POCT helps patients to go home sooner since it produces results more quickly than central laboratory testing. Clinician decision-making is aided by this. Due to all of these characteristics, POC &LOC devices are significantly more beneficial for clinics to effectively provide outpatient care and treat a wider patient pool in a short amount of time.
As patients and caregivers favor less invasive techniques for health monitoring, the usage of POC and LOC devices for home use is also rising. Additionally, the convenience of testing at home as opposed to going to medical facilities supports the expansion of this market.
By Test Type
Proteomic Testing
Metabolomic Testing
Genomic Testing
By Technology
Microfluidics
Array-based Systems
By End User
Hospitals &Clinics
Homecare
Specialty Centers
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Due to the large market players in North America who are fostering significant organic revenue growth in the worldwide heart failure POC & LOC devices market, the region led the revenue share. However, the demand for diagnostic services is still growing in Asian nations. This is because chronic conditions including myocardial infarction, acute coronary syndrome, and heart ischemia are now being prioritized over infectious infections, which has caused a shift in focus. Aside from that, Asian nations are increasingly in demand as locations for global diagnostic companies to expand their operations due to rising medical practice standards and the creation of cutting-edge infrastructure.
REGIONAL COVERAGE
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key players are Abaxis, Inc., bioMérieux S.A, Danaher, Abbott, Siemens Healthineers, Hoffmann-La Roche Ltd., Instrumentation Laboratory Company, Jant Pharmacal Corporation, Quidel Corporation, and Trinity Biotech and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 83.84 Billion |
| Market Size by 2030 | US$ 286.42 Billion |
| CAGR | CAGR of 16.6% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Test Type (Proteomic Testing, Metabolomic Testing, Genomic Testing) • By Technology (Microfluidics, Array-based Systems) • By End User (Hospitals &Clinics, Homecare, Specialty Centers) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Abaxis, Inc., bioMérieux S.A, Danaher, Abbott, Siemens Healthineers, Hoffmann-La Roche Ltd., Instrumentation Laboratory Company, Jant Pharmacal Corporation, Quidel Corporation, and Trinity Biotech. |
| Key Drivers | • More cardiovascular disorders • more R&D is being done for POC and LOC device • Increase in the elderly population |
| RESTRAINTS | • Ambiguous payment procedures |
Ans. The Heart Failure POC & LOC Devices Market is growing at a CAGR of 16.6% over the forecast period 2023-2030.
Ans Increased investment in the study of cardiovascular and heart diseases, Creation of more recent, suitable POC and LOC heart failure biomarkers are the opportunities of the market.
Ans. Heart Failure POC & LOC Devices Market is divided into three segments and they are By Test Type, By Technology, and By End User
Ans. Due to the large market players in North America who are fostering significant organic revenue growth in the worldwide heart failure POC & LOC devices market, the region led the revenue share
Ans. Proteomic Testing, Metabolomic Testing, and Genomic Testing are sub segments of by test type of the Heart Failure POC & LOC Devices Market.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia War
4.3 Impact of Ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Heart Failure POC & LOC Devices Market Segmentation, By Test Type
8.1 Proteomic Testing
8.2 Metabolomic Testing
8.3 Genomic Testing
9. Heart Failure POC & LOC Devices Market Segmentation, By Technology
9.1 Microfluidics
9.2 Array-based Systems
10. Heart Failure POC & LOC Devices Market Segmentation, By End User
10.1 Hospitals &Clinics
10.2 Homecare
10.3 Specialty Centers
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 Abaxis, Inc.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 bioMérieux S.A
12.3 Danaher
12.4 Abbott
12.5 Siemens Healthineers
12.6 Hoffmann-La Roche Ltd.
12.7 Instrumentation Laboratory Company
12.8 Jant Pharmacal Corporation
12.9 Quidel Corporation
12.10 Trinity Biotech
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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