Heart Failure POC & LOC Devices Market to be Boosted by Rising Incidence of Chronic Disease Worldwide
The Global Heart Failure POC LOC Devices Market size is expected to grow from USD 55.9 Million in 2021 to USD 180.1 Million by 2028 at a Compound Annual Growth Rate (CAGR) of 16.5%. Point-of-Care (POC) devices are used to obtain diagnostic results close to patients, while Lab-On-Chip (LOC) devices combine multiple laboratory functions in a single circuit for automatic delivery and advanced exit tests. Heart failure can be detected by POC tests, and LOC device technology can be monitored for both POC and mid-lab testing. An examination of the care facility detects heart symptoms and other important indicators over time, which helps to address the challenges of health inequality.
The Global Market for Heart Failure POC & LOC Devices for heart failure is driven by factors such as increased heart disease (CVDs), an increase in the number of elderly people, and an increase in R&D of Heart Failure POC & LOC Devices. As the global burden of CVD increases, more research and development are needed to find effective drugs and diagnostic tools to delay the progression of CVD infections. The market for Heart Failure POC & LOC Devices for heart failure will be driven by increased R&D costs for heart and CVD in the future, as point-of-care (POCT) testing is an important technology in diagnosing such CVD heart failure. As a result, additional funding will improve the market for Heart Failure POC & LOC Devices in the future. On the other hand, wrong return rules may prevent market expansion during speculation. Recovering from delays or shortages of diagnostic funds is a major obstacle to the growth of markets in many countries. Most of the time, compensation is provided through process or technology rather than value.
The Global Heart Failure POC & LOC Devices Market is divided into three types of tests. These consist of proteomic testing, metabolomic testing, and genomic testing. Due to the growing demand for biomarker testing using proteome testing, the proteomic testing phase retains the largest market share in 2021. The market is divided based on technology into microfluidics, array-based systems, and more. Microfluidic biosensors, which enable the integration and reduction of many operating systems used in central research facilities into a portable chip, held the highest share in 2021. On the basis of end-user, the market is segmented into hospitals and clinics, home-based care, specialized facilities, among other end-users. Due to the widespread use of Heart Failure POC & LOC Devices in the hospitals and clinics set, it dominated the segment.
Heart Failure POC & LOC Devices Market has been studied in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Asia Pacific is expected to grow with the highest CAGR during the forecast period. North America had a share of significant revenue due to the presence of major market participants in the United States, which contributed significantly to the growth of the Global Heart Failure POC & LOC Devices Market. In Asian countries, on the other hand, the demand for diagnostic services continues to rise.
The Heart Failure POC & LOC Devices Market has a valuable insight with an emphasis on the Global Market including some of the major players such as Abbott, Danahar, Siemens Healthineers, and F. Hoffmann-La Roche Ltd. Other emerging players such as Quidel Corporation, bioMérieux S.A, Trinity BiotechInstrumentation Laboratory, and Abaxis, Inc.
Browse the full Report - Heart Failure POC & LOC Devices Market by Test Type (Proteomic Testing, Metabolomic Testing, Genomic Testing), by Technology (Microfluidics, Array-based Systems, Others), by End Use (Clinics, Hospitals, Home, Assisted Living Healthcare Facilities), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)