Heart Failure POC & LOC Devices Market Analysis, Trend, and Forecast Research Report by 2028

Increasing investments in R&D for developing novel LOC-based devices and assays for detecting cardiovascular diseases are some key factors

NEW YORK, NY, UNITED STATES, March 24, 2022 /EINPresswire.com/ -- 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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Market Overview:

The pharma and healthcare industry is rapidly expanding in terms of revenue over the last few years and is expected to register significant revenue growth over the forecast period of 2028. Rapid advancements in the healthcare sector, rapid growth in the medical and healthcare sectors, availability of latest equipment and tools, rising healthcare expenditure and improvements in healthcare infrastructures are some key factors driving global market revenue growth. In addition to this, increasing investments in research and development activities, rising prevalence of various diseases and dearth of medications and hospitals during the ongoing COVID-19 pandemic are boosting market growth. Increasing number of funds by public and private sectors, rising adoption of point-of-care diagnosis and home settings, high demand for precision medicine and ongoing research on drug discovery are also expected to fuel market growth going ahead.

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Competitive Landscape

The report sheds light on the competitive landscape of the global Heart Failure POC & LOC Devices market and details about each market player, global position, financial standing, license agreement, and product and service portfolio along with business expansion plan. Major players are investing in research and development activities to develop and launch new products and services and are also focusing on adopting key strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations to strengthen their market position and enhance their product base.

Leading companies operating in the global Heart Failure POC & LOC Devices market include:

Abbott, Siemens Healthineers, Danaher, Instrumentation Laboratory, F. Hoffmann-La Roche Ltd., bioMérieux S.A., Abaxis, Inc., Quidel Corporation, Jant Pharmacal Corporation, and Trinity Biotech are some major companies operating in the global hearth failure POC & LOC devices market.

Global Heart Failure POC & LOC Devices market segmentation:

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

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Regional analysis covers:

• North America
o U.S.
o Canada
o Mexico
• Europe
o Russia
o U.K.
o Germany
o France
o BENELUX
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o U.A.E.
o Israel
o Rest of MEA

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About Reports and Data

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