Point-of-care Cholesterol Monitoring Device Market to Grow at a CAGR of 2.6% by 2028

The prevalence of obesity and cardiovascular diseases is increasing due to modern-day sedentary life style, which is projected to surge the growth of the point-of-care cholesterol monitoring device market. Physical inactivity is the vital cause of cardiovascular diseases. It is almost affecting every section of the society. Wide spread incidence of cardiovascular diseases is expected to increase the demand for point-of-care cholesterol monitoring devices. The rising demand for point-of-care cholesterol devices is further expected to create enormous growth opportunities for the manufactures operating in the point-of-care cholesterol monitoring device market. People now prefer self-testing and daily monitoring of the condition of a disease, which has increased the adoption of point-of-care cholesterol monitoring devices.

According to the World Health Organization (WHO), it is estimated that nearly 17.9 million people die due to cardiovascular diseases worldwide, which accounts for 31% of all the deaths worldwide. The growing incidence of cardiac arrest, high blood pressure and strokes is also a factor expected to surge the demand for point-of-care cholesterol monitoring devices.

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Numerous awareness programs to control and prevent high cholesterol are organized by the governmental organizations these days. For instance, the National Heart Disease and Stroke Prevention Program and Lipid Standardization Program are conducted by CDC (Centre for Disease control and prevention) for creating awareness among population. These programs are conducting trainings and campaigns to spread awareness regarding the ill effects of cholesterol and they also are giving education to the staff of the hospitals. In the recent years, the trend of healthy living and eating has increased due to various government initiatives such as campaigns leading to higher adoption of the cholesterol self-testing devices resulting in the growth of point-of-care cholesterol monitoring device market in the forecast period. It is reported by CDC (Center for Disease control and prevention) that more than half the U.S population, i.e., 55% of U.S adults are taking medication for cholesterol-related health problems. Thus, rising incidence of cardiovascular diseases and complications due to high cholesterol is projected to trigger the growth of the global point-of-care cholesterol monitoring device market.

Point-of-care monitoring devices are helpful in critical situations requiring rapid turn-around time of test results for clinical decision-making. But there are many challenges associated with POCT, mainly related to quality assurance. The tests performed in laboratories are carried out by trained professionals under GLP (Good lab practices) and certain measures are implemented for delivering acute results for patient safety.

The company has segmented the point-of-care cholesterol monitoring device market on the basis of product type, technology, application, end user and regions. Based on product type, the point-of-care cholesterol monitoring device market has been segmented into point-of-care instruments and testing kits. Testing kits segment is projected to hold large share in the point-of-care cholesterol monitoring device market. According to the company, the testing kits segment accounted for a revenue share of over 60% in the global point-of-care cholesterol monitoring device market in 2017.

Geographically, the global point-of-care cholesterol monitoring device market has been segmented across regions, namely North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding China & Japan, China, Japan and MEA. North America, followed by Asia Pacific, is expected to hold substantial revenue share in the global point-of-care cholesterol monitoring device market. Many local players in Japan are focusing on increasing their market share in emerging regions such as MEA and APECJ.

Based on end users, the point-of-care cholesterol monitoring device market is segmented into hospitals, diagnostic centers & laboratory, ambulatory surgical center and home care sittings. The diagnostic centre & laboratory segment is expected to hold large share in the point-of-care cholesterol monitoring device market.

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The company’s report tracks some of the key companies operating in the point-of-care cholesterol monitoring device market, which include F. Hoffmann-La Roche Ltd., Acon Laboratories, Inc., Abaxis, Inc., Abbott Laboratories, SD Biosensor, Inc., Jant Pharmacal Corporation, DiaSys Diagnostic Systems GmbH, Bioptik Ltd., and Fitech UK Ltd., among others.

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