Heart Failure POC & LOC Devices Market is Segmented By Test Type (Proteomic Testing, Metabolomic Testing, Genomic Testing), By Technology (Microfluidics, Array-based Systems, Other), By End User (Hospitals, Clinics, Home setting, Other), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) â Share, Size, Outlook, and Opportunity Analysis, 2023-2030.
Heart failure POC & LOC devices market size was valued at US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of 16.2 % during the forecast period (2023-2030). Parameters such as ease of operation, instant results, and high throughput, lab-on-chip (LOC) amplifies disease diagnosis. POC aids in detecting cardiac markets and time-critical factors so that health issues can be addressed more effectively.
North America region is expected to hold the largest market share in the global heart failure POC & LOC devices market
The increasing prevalence of heart failure and the presence of major key players are expected to drive this region's market growth.
According to CDC, heart failure affects approximately 6.2 million adults in the United States. In 2018, 379,800 death certificates mentioned heart failure (13.4 percent). Moreover, Abbott Laboratories is a multinational medical device and healthcare corporation based in the United States. The company provides rapid diagnostics, which help conduct vital cardiovascular and metabolic tests right at the point of care. In the same visit, clinicians can obtain results and discuss a treatment plan with patients. They provide chronic cardio POCT solutions. Hence, key players providing cardiac POC solutions in this region are expected to boost the market growth.
Heart failure POC & LOC devices market Scope
Metrics |
Details |
Market CAGR |
16.2% |
Segments Covered |
By Test Type, By Technology, By End User, and By Region |
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
Fastest Growing Region |
Asia Pacific |
Largest Market Share |
North America |
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Market Dynamics
The factors influencing the global heart failure POC & LOC devices market are the increasing demand for POC & LOC devices and the growing prevalence of heart failure.
The increasing demand for POC & LOC devices is expected to drive the market growth in the forecast period
Due to parameters such as ease of operation, instant results, and high throughput, lab-on-chip (LOC) is used to amplify disease diagnosis. POC aids in detecting cardiac markers and time-critical factors so that health issues can be addressed more effectively. Concerns about cardiovascular disease-related mortality and mobility drive the demand for POC and LOC devices. The market demand is growing due to an increase in the number of POC tests targeting various biomarkers and increased investments by various private and public sectors to develop advanced POC and LOC devices. In addition, leading companies are expected to increase their investments in developing enhanced products and integrating apps and smartphones in POC detection for managing patient cardiac health in the coming years. For instance, blood tests measuring biomarkers have improved the accuracy of HF diagnosis, severity estimation, and adverse event prediction. The fact that biomarkers can be measured in a short amount of time at the point of care adds to their importance in HF management. This has been made possible by developing portable analytical devices, also known as point-of-care testing (POCT) devices, that take advantage of microfluidics and nanotechnology advancements. The increasing application of LOC devices is expected to drive market growth in the forecast period. For instance, because general practitioners or even patients can perform tests immediately using LOC applications, they will contribute to the current trend of more self-reliance in health care. Furthermore, LOC technology will aid in developing treatments tailored to the individual needs of patients (personalized medicine). If health care professionals are involved in designing and developing new devices that meet their needs, the use of LOC applications will rise.
The problems associated with POC testing are expected to hamper the market growth
The lack of a well-defined reimbursement for POC devices equipped with a cassette or cartridge that performs multiple tests limits growth. Manufacturers are strategizing for effective reimbursement for multi-analyte POC tests to address this issue. The laboratory service is enhanced by tests performed at the point of care. There have been numerous studies published on the cost of providing this service. Organizations face many challenges in billing for pointâofâcare tests, including the ability to accurately capture information and familiarity with regulatory and payer guidelines. POCT presents several challenges, the most significant of which is quality assurance. Because POCT is performed by clinical staff rather than laboratory-trained personnel, there is a risk of errors due to a lack of understanding of quality control and quality assurance practices. POCT is usually more expensive than central laboratory testing, and it necessitates a significant amount of laboratory support to ensure quality testing and accreditation. Hence, due to the problems associated with POCT, the market is expected to be hampered.
COVID-19 Impact Analysis
Point-of-care (POC) detection technologies that enable decentralized, rapid, sensitive, and low-cost COVID-19 infection diagnostics are needed worldwide. The COVID-19 POC diagnostics is rapidly growing, with many technologies approved for commercialization in the last ten months. As the COVID-19 pandemic becomes endemic, the advances made over the last year will most likely be used to predict future outbreaks and pandemics. The diagnostic solutions required are determined by throughput, portability, cost, and regulatory approval barriers. The testing solutions could be used in centralised laboratories and have throughputs ranging from thousands of tests per day to one test per person. The testing capacity is directly proportional to the size of the diagnostics solution, which is inversely proportional to portability. Hence, the growing use of POC devices during covid-19 is expected to impact the market positively.
Segment Analysis
The proteomic Testing segment is expected to dominate the market growth
Proteomics is the study of a cell's, tissue's, or organism's entire protein complement under defined conditions. It is currently reliant on decades of technological and instrumental advancements. Heart disease is the world's leading cause of death and morbidity. As a result, biomarkers are required for acute injury (acute myocardial infarction (AMI)) and chronic disease diagnosis, prognosis, therapeutic monitoring, and risk stratification (heart failure). The discovery, validation, and translation into clinical practice of a panel of candidate proteins to monitor the risk of heart disease is part of the biomarker development process. There are two types of biomarkers that can be used: heart-specific markers and markers that monitor the cardiovascular and pulmonary systems. Some common peptides assessed to monitor cardiovascular events include N-terminal pro-b-type natriuretic peptide (NTproBNP), troponin, and B-type natriuretic peptide (BNP). Troponin T (TnT) and Troponin I (TnI) are the most specific protein biomarkers linked to myocardial infarction. As a result, most companies have targeted this biomarker as a key revenue-generating segment. The estimated share of proteomic testing is influenced by the presence of many commercial POC devices based on protein marker testing.
Competitive Landscape
With mergers, acquisitions, and product launches, the global heart failure POC & LOC devices market is moderately competitive. Some of the key players in the market are Abbott, Siemens Healthineers, aF. Hoffmann-La Roche Ltd., Quidel Corporation, JantPharmacal Corporation
F. Hoffmann-La Roche Ltd.
Overview: Roche is a leader in research-driven healthcare, with strengths in both pharmaceuticals and diagnostics. Roche is a biotech company specializing in oncology, immunology, infectious diseases, ophthalmology, and neuroscience. The company is a pioneer in diabetes management and a global leader in in-vitro and tissue-based cancer diagnostics. The company was founded in 1896.
Product Portfolio: The Cobas h 232 POC system is a portable point-of-care system that enables on-the-spot diagnosis and treatment of patients with signs and symptoms of cardiovascular disease.
