Growth Opportunities Estimated to be Experienced by Cardiac PoC Testing Devices Market By 2025 | Abbott Laboratories, Siemens Healthineers, BG Medicine Inc., Roche Diagnostics, Nexus-Dx, LifeSign LLC., Medtronic Inc.

Cardiac POC testing is a heart-related diagnostic test, which is carried out at or near the point-of-care of a patient. POC testing is a blood diagnostic test involved in detection of cholesterol and blood coagulation. This diagnosis helps physicians to examine the risk of developing thrombosis and extreme bleeding inside blood vessel, which leads to cardiac arrest. Moreover, cardiac POC includes troponin and brain natriuretic peptide analysis test to identify cardiovascular disorders such as coronary artery disease, myocardial infarction, and heart failure. Cardiac POC test significantly lowers time consumed in extracting data/reports. In most cases, diagnosis reports are provided within an hour after the submission of test samples. Thus, cardiac POC tests help reduce turnaround time noticeably, allowing instant patient response and effective management of cardiac diseases.

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According to the World Health Organization (WHO) 2016, one-third of ischemic heart disease cases are observed due to high cholesterol levels. Increase in cholesterol and blood coagulants in blood arteries, are estimated to cause cardiac disorders. For instance, according to WHO, 2016, over 2.5 million deaths and around 29 million individuals were recorded to be suffering from cardiac disorders. The cardiac POC testing device provides easy-to-use system with the correct assessment of cholesterol levels and heart ailments.

The global cardiac POC testing market is estimated to be valued at US$ 2,104.1 million in 2017 and is expected to witness a CAGR of 7.1 % during the forecast period (2017 – 2025).

Competitive Landscape

Key companies covered as a part of this study include Abbott Laboratories, Siemens Healthineers, BG Medicine Inc., Roche Diagnostics, Nexus-Dx, LifeSign LLC., and Medtronic Inc.

Market Dynamics

The market for cardiac POC testing devices is gaining significant traction due to rising prevalence of cardiac disorders. According to World Health Organizations (WHO), 2011, around 8 million people suffered from coronary and peripheral heart diseases, which recorded the major cause of all the deaths, accounting for around 44% of total deaths in the U.S. Technological innovations and developments of cardiac POC testing devices are contributing to the market growth. For instance, the FDA approval of Firmware software in August 2017, launched by Abbott Laboratories is embedded in the hardware of a cardiac testing device. With this device, the cardiac rhythm can be easily monitored as well as control for the people at high-risk. However, lack of operating knowledge and economic instability in emerging economies are the factors restraining the market growth.

Increasing prevalence of cardiac disorders significantly drives growth of the cardiac POC testing devices market

According to the FH Foundation, a patient-centered organization devoted to research and education of Familial Hypercholesterolemia (FH), 2015, 1 in 200-500 people suffered from familial hypercholesterolemia worldwide. With increasing population, this number expected to increase in the future, thereby leading to growth in demand for testing cholesterol levels in individuals. This in turn, is expected to propel the overall growth of the cardiac POC testing devices market. According to the World Health Organization 2013, around 33.5 million of the global population was estimated to have suffered from coronary artery disease, a major condition leading to heart attack. The growing prevalence of cardiovascular ailments is expected to increase the demand for cardiac POC testing devices, in turn, driving growth of the market.

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Increasing purchasing power and high prevalence are factors fueling growth of the cardiac POC testing device market

Rise in the geriatric population, associated with high susceptibility to chronic diseases related to cardiac disorders, and economical diagnosis of chronic diseases in rural areas are expected to boost growth of the global market. The cardiac POC testing devices market in Asia Pacific is expected to experience rapid growth over the forecast period, due to growing population and increasing purchasing power of patients. The key players are executing new strategies such as mergers and acquisitions, product launch, and medical symposium for better exposure of their products and to increase market share. The new product launch, collaborations between manufacturers, hospitals, and academic institutions are expected to establish a positive impact on the market growth. For instance, the global healthcare company, Abbott Laboratories has launched a software firmware in July 2017, which is embedded in the cardiac testing device. Moreover, Abbott Laboratories has acquired cardiac device maker, St. Jude Medical, at the stock deal of US$ 25 billion. The collaboration aims to produce a significant amount of new medical devices centered on patients suffering from cardiovascular disorders.

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This release was published on openPR.