Heart Failure POC & LOC Devices Market Worth US$ 286.42 Million by 2030

Heart Failure POC & LOC Devices Market Report Scope & Overview

According to SNS Insider's analysis, the allure of miniaturization combined with its potential to revolutionize disease diagnosis through cost-efficiency, simplicity in operation, and analytical capabilities is a standout feature of lab-on-chip (LOC) technology. Driving the market forward will be the dynamic landscape of research and development endeavors focused on pioneering novel LOC tests tailored for the detection of cardiovascular disease (CVD).

The SNS Insider report, the Heart Failure POC & LOC Devices Market achieved a value of 𝐔𝐒$ 𝟖𝟑.𝟖𝟒 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 in 2022. It is projected to expand to 𝐔𝐒$ 𝟐𝟖𝟔.𝟒𝟐 𝐦𝐢𝐥𝐥𝐢𝐨𝐧 by 2030, with an anticipated compound annual growth rate(𝐂𝐀𝐆𝐑) 𝐨𝐟 𝟏𝟔.𝟔% during the forecast period spanning from 2023 to 2030.

The Heart Failure Point of Care (POC) and Lab on Chip (LOC) Devices Market Report provides a comprehensive analysis of the current trends and future prospects in the rapidly growing field of heart failure diagnostics and management. With an increasing prevalence of heart failure worldwide, there is a pressing need for accurate and efficient diagnostic tools that can help clinicians make timely and informed decisions. The report covers key market players, developments in technology, regulatory frameworks, and potential challenges faced by the industry. Additionally, it offers insights into emerging trends such as personalized medicine, remote monitoring, and precision diagnostics that are shaping the landscape of heart failure care. The information presented in this report will be valuable for healthcare professionals, researchers, policymakers, and investors looking to stay ahead of the curve in this dynamic market segment.

Key Players -

Major Key Players in Heart Failure POC & LOC Devices Market
→ Abaxis, Inc.
→ bioMérieux S.A
→ Danaher
→ Abbott
→ Siemens Healthineers
→ Hoffmann-La Roche Ltd
→ Instrumentation Laboratory Company
→ Jant Pharmacal Corporation
→ Quidel Corporation
→ Trinity Biotech
→ and Other Players.

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Heart Failure POC & LOC Devices Market Growth Factors -

The key factors driving the growth of the worldwide market are advances in diagnostics and omics research which help to detect new assays and biomarkers prior to any manifestation of symptoms leading to a risk of heart failure. The growth of the market is driven by increased research on developing more cost effective and rapid detection devices, as well as a growing focus on early disease diagnosis. Another important factor driving worldwide market growth is the growing adoption of point of sale devices due to increases in incidences of heart diseases and increased investment by governments, as well as other organisations for research and development.

Segmentation Analysis in Heart Failure POC & LOC Devices Market -

The market is classified according to the type of test used: proteome, metabolomics and Geno genomics. The largest revenue share of 50.4% in 2022 was accounted for by the proteomic testing segment. Research into the role of genomics, proteomics and metabolomics in cardiovascular events has been encouraged by technological advances in omics studies. This, in turn, helps to discover new biomarkers and assays that allow early detection of the risk of heart attack before symptoms appear. For instance, in April 2022, scientists at SomaLogic Inc. developed a blood test that can be used to predict an individual's risk of heart attack, stroke, failure, and dying from these conditions in the upcoming four years.

Based on end use, the market is characterised by clinics, hospitals, homes, assisted living facilities and laboratories. In 2022, the clinic segment accounted for the largest revenue share of 37.7%. In a variety of healthcare settings, POC tests have proved to be effective in meeting the specific needs. Inpatient settings such as operating rooms, emergency rooms or intensive care units and outpatients like doctor's offices, clinics etc. are also included in this category.

Key Market Segmentation

By Test Type
→ Proteomic Testing
→ Metabolomic Testing
→ Genomic Testing

By Technology
→ Microfluidics
→ Array-based Systems

By End User
→ Hospitals &Clinics
→ Homecare
→ Specialty Centers

Key Regional Development -

The market was dominated by North America, which accounted for the largest revenue share of 41.6% in 2022, owing to significant US market players that contributed significantly to a strong organic increase in global cardiac failure POC and LOC device revenues. For instance, a business combination agreement was signed between Quidel Corporation and Ortho Clinical Diagnostics Holdings plc in December 2021. Improved access to immunohematology, immunoassays, molecular diagnostics, clinical chemistry, donor screening and point of care diagnostic products has been provided. In contrast, in Asia, demand for diagnostic services continues to increase.

During the forecast period from 2023 to 2030, Asia Pacific is expected to grow at a higher compound annual growth rate of 20.5%. This growth is due to a shift in focus from infectious to chronic diseases like acute coronary syndrome, myocardial infarction, and cardiac ischemia. Furthermore, Asia countries are increasingly being chosen by some Global Diagnostic Companies to expand their business as a result of increasing medical practice standards and the development of infrastructure.

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Key Takeaway from Heart Failure POC & LOC Devices Market Study-

Environmental Concerns As environmental awareness rises, so too do concerns over carbon emissions and environmental damage, driving carbon capture and storage technologies as environmentally friendly technologies. Gas Injection EOR Techniques Thanks to developments in enhanced oil recovery (EOR) techniques that utilize captured CO2, carbon capture is having an increasingly positive effect on market trends.

In terms of carbon capture and storage applications, precombustion technology has a very high share of 65.8% due to its energy efficiency and higher capacity for CO2 capture.

Recent Development Related to Heart Failure POC & LOC Devices Market-

→ In December 2022, Malaysia's state-owned oil and gas company Sarawak Petroleum Bhd has cooperated with a Korean steel producer, Posco Group, to develop business in the carbon capture and storage plant located in Malaysia.

→ In July 2021, Shell's plan to build a large carbon capture and storage facility in Alberta, Canada has been announced. This project will obtain almost 300 million tonnes of carbon dioxide from refineries and chemical plants on the shell.

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Table of Contents - Major Key Points

1.Introduction

2.Research Methodology

3.Market Dynamics

4.Impact Analysis
4.1COVID-19 Impact Analysis
4.2Impact of Ukraine- Russia war
4.3Impact of ongoing Recession

5.Value Chain Analysis

6.Porter's 5 Forces Model

7.PEST Analysis

8.Heart Failure POC & LOC Devices Market Segmentation, By Test Type

9.Heart Failure POC & LOC Devices Market Segmentation, By Technology

10.Heart Failure POC & LOC Devices Market Segmentation, By End User

11.Regional Analysis

12.Company Profiles

13.Competitive Landscape

14.Conclusion
Continued…

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