Increasing investments in R&D for developing novel LOC-based devices and assays for detecting cardiovascular diseases are some key factors driving market revenue growth
Market size: USD 61.77 Million in 2020, Market Growth: CAGR of 16.5%, Market Trends: Ongoing research on application of saliva-based nanochip tests for assessing myocardial infarction
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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The report focuses on the comprehensive analysis of the competitive landscape along with detailed company profiles, market share, product portfolio, financial standings, market reach, global position, and strategic business expansion plans.
Some of the players profiled in the report are
Abbott, Siemens Healthineers, Danaher, Instrumentation Laboratory, F. Hoffmann-La Roche Ltd., bioMérieux S.A., Abaxis, Inc., Quidel Corporation, Jant Pharmacal Corporation, and Trinity Biotech
The report sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches among others. It also discusses in detail the technological advancements, product developments, and research and development activities of each key company.
Further the report segments the Heart Failure POC & LOC Devices market on the basis of product types, applications, end-uses, and regions. The report discusses in detail the key factors influencing revenue growth of the segments and market growth in key regions. It also discusses economic growth, technological advancement, and presence of key players in each major geographical region.
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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
Market Segmentation by Regions:
• North America (U.S.A., Canada)
• Europe (U.K., Italy, Germany, France, Rest of Europe)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Points Covered in the Report:
• Key insights into the latest growth trends, developments, technological and product advancements, and research and development scenario
• Analysis of micro- and macro-economic factors and regulatory framework
• In-depth evaluation of factors such as cost, capacity, rates of production and consumption, gross revenue, profit margin, demand and supply ratio, import/export, market share, market size, and market trends
• SWOT analysis, Porter’s Five Forces Analysis, investment return analysis, and feasibility analysis to offer a comprehensive view of the competitive landscape
• Strategic recommendations to established market players and new entrants to overcome limitations and entry-level barriers in the global market landscape
• A comprehensive 8 year assessment of the global Heart Failure POC & LOC Devices market for the period 2021-2028
• Analysis of market drivers, restraints, challenges, limitations, threats, growth prospects and opportunities
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