Cardiac POC Testing Devices - Global Market Trajectory & Analytics

Global Cardiac POC Testing Devices Market to Reach US$1.7 Billion by the Year 2026

Cardiac POC testing devices help in assessing cholesterol and blood glucose levels. Cardiac POC assay test kits deliver accurate results promptly and cost-effectively with standardization for minimizing operational errors. The POC cardiac marker market is a fast-growing segment of the overall global IVD industry. The increasing adoption of sensitivity and premium-priced POC Troponin tests is contributing to the growth of the global market. The growing move towards value-based and efficient healthcare service delivery against the backdrop of stringent budgets is boosting the prospects for POC Cardiac testing market. Moreover, the majority of medical professionals opt of POC cardiac testing to quickly monitor the condition of patients experiencing chest pain or other heart ailment symptoms in emergency care environments. The global phenomenon of the burgeoning aging populace is driving demand for POC test kits for use in home healthcare and old age homes. Growing patient awareness and the increasing availability of over the counter POC tests is a major factor propelling the POC tests market. At a time when the global healthcare industry is transitioning from disease treatment to disease prevention through increased involvement with patients, POC diagnostic kits are playing an instrumental role in reducing the risk of occurrence and the intensity of prevailing diseases by facilitating prompt diagnosis and earlier clinical intervention.

Amid the COVID-19 crisis, the global market for Cardiac POC Testing Devices estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.7 Billion by 2026, growing at a CAGR of 5.8% over the analysis period. Cardiac Markers Test, one of the segments analyzed in the report, is projected to grow at a 6.1% CAGR to reach US$1.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Analyzers segment is readjusted to a revised 5.1% CAGR for the next 7-year period. This segment currently accounts for a 29.7% share of the global Cardiac POC Testing Devices market. The blood cardiac biomarkers based evaluation of cardiac abnormalities is becoming more and more accurate, which is a major factor for the growing popularity of cardiac biomarkers. The increasing consumer awareness, coupled with growing adoption of cardiac kits, is set to drive the cardio biomarker market in the medium term.

The U.S. Market is Estimated at $500.5 Million in 2021, While China is Forecast to Reach $192.6 Million by 2026

The Cardiac POC Testing Devices market in the U.S. is estimated at US$500.5 Million in the year 2021. The country currently accounts for a 37.36% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$192.6 Million in the year 2026 trailing a CAGR of 7.4% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.6% and 5.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4.8% CAGR while Rest of European market (as defined in the study) will reach US$204.7 Million by the end of the analysis period. The United States represents the largest market, driven by high prevalence of cardiovascular diseases, higher levels of physician and patient awareness, favorable government policies, and high usage of cardiac tests. The Asia Pacific region is also growing steadily on account of the increasing awareness about cardiac diagnosis and treatment as well as rising healthcare expenditure.

Select Competitors (Total 50 Featured) -

• Abbott Laboratories
• ACON Laboratories, Inc.
• Alfa Scientific Designs, Inc.
• American Screening Corporation, Inc.
• BD Medical device company
• Beckman Coulter Inc.
• Biomerica, Inc.
• Bio-Rad Laboratories, Inc.
• Danaher Corporation
• F. Hoffmann-La Roche AG
• LifeSign LLC
• Medtronic plc
• Nano-Ditech Corporation
• Nexus Dx, Inc.
• Nova Biomedical Corporation
• PTS Diagnostics
• Sekisui Medical Co., Ltd.
• Siemens Healthineers AG
• Werfen Life Group