Global Cardiac POC Testing Market Share Likely to Grow at a CAGR of 6.5% By 2033

According to Custom Market Insights (CMI), The Global Cardiac POC Testing Market size was estimated at USD 1.2 billion in 2021 and is expected to hit around USD 2.89 billion by 2030, poised to grow at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030.                                                                                       

Cardiac POC testing is a diagnostic test that is especially related to the heart and is carried out at or near the point of care of the patient. 

POC testing is a blood diagnostic test used to detect cholesterol and blood coagulation in the body. This diagnostic test helps physicians to examine the risk of developing thrombosis and coagulation inside a blood vessel, which leads to cardiac arrest.

Furthermore, cardiac POC testing involves troponin and brain natriuretic peptide analysis tests to identify cardiovascular disorders such as myocardial infarction, coronary artery disease, and heart failure. The Cardiac POC test is time effective. For instance, in most cases, diagnosis reports are provided within an hour after the submission of test samples. The demand for cardiac POC testing will drive during the forecast period.

Browse the full “Cardiac POC Testing Market Size, Trends and Insights By Product Type (Cardiac Markers Test, Analyzers, Others), By End User (Research Laboratories, Hospitals, Ambulatory Surgical Centres, Diagnostic Laboratories, Others), and By Region – Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2023–2032” report at https://www.custommarketinsights.com/report/cardiac-poc-testing-market/

Market Dynamics.

Drivers.

Increasing heart-related disorders among people will drive cardiac POC testing thus, increases the overall potential sale of POC testing across the globe. For instance, according to an article published by the National Medicine Library in July 2020, Ischemic Heart Disease ( IHD )affects around 126 million individuals (1,655 per 100,000), which is approximately 1.72% of the world’s population. The overall demand for the cardiac POIC testing market will be expected to grow exponentially. 

Restraints.

However, the lack of skilled trainers is restricting the global cardiac POC testing market expansion during the forecast period. Furthermore, the high price of cardiac POC testing devices is restraining the market’s overall growth. In addition, high production costs and the requirement for advanced machinery will slow down the market. On the other hand, manufacturers are switching to the alternative substitute for cardiac POC testing due to high production and installment cost.

Opportunities.

The adoption of sensitivity and premium-priced POC Troponin tests contributes to the growth of the global cardiac POC testing market. The growing move towards value-based and efficient healthcare service delivery against stringent budgets is boosting the prospects for POC Cardiac testing market.

Moreover, several physicians opt for cardiac POC testing devices due to their quick monitoring and ease of operation. In response to this, the growing awareness of good health and the rapid shift in the healthy lifestyle has increased the consumer’s purchasing power in the medical field. These factors are anticipated to enhance the overall demand for cardiac POC testing market during the forecast period, thus, offering the most lucrative opportunities.

Challenges.

Over the forecast period, the incorrect handling and maintenance of the analyzers by no trained clinical staff, inadequate or even absent calibrations and quality controls, lack of cost-effectiveness because of an increased number of analyzers and more expensive reagents, insufficient documentation, and many others will act as a challenging factor for the growth of cardiac POC testing market.

Report Highlights.

Depending upon the types, the cardiac POC testing market is segmented into cardiac markers and analyzers.

The cardiac biomarker test segment dominated the market in 2021 and is expected to grow over the forecast period. The cardiac biomarker test involves measuring the levels of cardiac biomarkers in blood. These markers include enzymes, hormones, and proteins.

In addition, these biomarker tests help detect the presence of ACS and cardiac ischemia and evaluate their severity. It is mainly used in the early prediction of heart dysfunction, due to which the demand for cardiac markers-based cardiac POC testing devices has captured the overall market share, escalating the demand for cardiac POC testing during the forecast period.

The global cardiac POC testing market is studied across research laboratories, hospitals, ambulatory surgical centers, and diagnostic laboratories. It is expected that the global hospital end-user segment to hold a dominant position during 2022 -2031. 

Hospitals’ end-user segment dominates the cardiac POC testing market and is expected to remain dominant during the forecast period. Cardiac POC testing is high-performance; the effective device 

has easy operation, accuracy, and quick results. Owing to these factors, cardiac POC testing has been used extensively in multispecialty and tertiary care hospitals. These factors are escalating the growth of the cardiac POC testing market.

Regional Snapshots. 

Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is the dominant region in the cardiac POC testing market. The utilization of cardiac POC testing has increased in the sectors such as hospitals, laboratories, diagnostic centers, and other key market trends in the Asia-Pacific region. The rise in the population, associated with high susceptibility to chronic diseases related to cardiac disorders, and economic diagnosis of chronic diseases in rural areas are expected to boost the global market growth in the Asia-Pacific region.

The cardiac POC testing devices market in the Asia Pacific is expected to experience rapid growth over the forecast period due to the growing population, increasing patient purchasing power, and an increase in the number of tests during pandemics. Growing awareness of people about heart-related health issues has made them more linear towards purchasing or opting for cardiac POC testing. These factors are projected to enhance the overall cardiac POC testing market demand in upcoming years.

Report Scope

Key Players

• LifeSign LLC
• Medtronic plc
• Nano-Ditech Corporation
• Nexus Dx Inc.
• PTS Diagnostics
• Bio-Rad Laboratories Inc.
• F. Hoffmann-La Roche AG
• Nova Biomedical Corporation 
• Trividia Health Inc.
• Sekisui Diagnostics
• Nipro Corp.
• Trinity Biotech
• Orasure Technologies, Inc.
• Spectral Medical Inc.

Segments covered in the report

By Product Type

• Cardiac Markers Test 
• Analyzers 
• Others 

By End User

• Research Laboratories
• Hospitals
• Ambulatory Surgical Centres
• Diagnostic Laboratories
• Others

On the basis of Geography

North America

• The U.S.
• Canada
• Mexico

Europe

• France
• The UK
• Spain
• Germany
• Italy
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia Pacific

The Middle East & Africa

• Saudi Arabia
• UAE
• Egypt
• Kuwait
• South Africa
• Rest of the Middle East & Africa

Latin America

• Brazil
• Argentina
• Rest of Latin America