Global Cardiac POC Testing Devices Market 2019-2023
Global Cardiac POC Testing Devices Market: About this market
Cardiac POC testing devices aid in the assessment of glucose and cholesterol levels in individuals, which in turn help the practitioners to identify the risk of developing thrombosis and cardiovascular diseases (CVDs) such as coronary artery disease (CAD), myocardial infarction and heart failure. Technavio’s cardiac POC testing devices market analysis considers sales from hospitals and laboratories, diagnostic centers, and ambulatory centers and physicians' clinics. Our analysis also considers the sales of cardiac POC testing devices in Asia, Europe, North America, and ROW. In 2018, the hospitals and laboratories segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as High inflow of patients, expanding the use of medical devices, and growing healthcare expenditure will play a significant role in the hospitals and laboratories segment to maintain its market position. Also, our global cardiac POC testing devices market report also looks at factors such as high incidence of CVDs, growing diabetic population, emphasis on cardiac marker testing regulatory authorities. However, product recalls posing a challenge to manufacturers, alternative methods of measuring cholesterol levels, limited access to diagnostic tests in developing countries may hamper the growth of the cardiac POC testing devices industry over the forecast period.
Global Cardiac POC Testing Devices Market: Overview
High incidence of CVDs
Cardiovascular diseases (CVDs) are rising due to a high level of a sedentary lifestyle, smoking, alcohol consumption, high levels of cholesterol in the blood, and diabetes, and others. This has driven the demand for cardiac POC testing devices. Elevated cholesterol levels shoot up the blood pressure. Cardiac POC testing devices’ ability to assess blood glucose and cholesterol levels rapidly has also increased its adoption rate. This demand will lead to the expansion of the global cardiac POC testing devices market at a CAGR of over 6% during the forecast period.
Technological advances in diagnostics
The global cardiac POC testing devices market has witnessed significant developments, owing to factors such as portability of devices, research centers moving to close patent locales, increasing test menus, and rising adoption of multiparameter monitoring devices. The implementation of laboratory functions into portable systems has led to a standard shift in the diagnostics field. Miniaturization of technology aids in the quantification of living cells on portable systems using small volumes of reagents. This has encouraged several hospitals and clinics across the world to switch from conventional testing methods to POC testing due to its improved efficiency and faster turnaround time. Sensors, microsystems, and low-cost imaging technologies have been developed for POC testing. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global cardiac POC testing devices market during the forecast period 2019-2023, click here.
With the presence of a few major players, the global cardiac POC testing devices market is moderately concentrated. Technavio’s robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cardiac POC testing devices manufacturers, that include Abbott Laboratories, bioMérieux SA, Danaher Corp., F. Hoffmann La Roche Ltd., and Siemens Healthcare GmbH.
Also, the cardiac POC testing devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
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