Cardiac PoC Testing Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cardiac PoC Testing Devices Market Analysis
The cardiac POC testing devices market is expected to grow at a CAGR of 6.5% over the forecast period.
The COVID-19 pandemic significantly impacted market growth. The onset of the COVID-19 pandemic caused a nationwide lockdown with the suspension of non-urgent scheduled visits and hospitalizations, which resulted in the delayed diagnosis of patients with cardiac disorders. For instance, according to an article published in Elsevier Public Health Emergency Collection in September 2021, it was observed that the reduction in diagnostic cardiovascular testing around the world led to concerns about the effects of reduced testing for cardiovascular disease (CVD) morbidity and mortality. In addition, as per the same source, the number of procedures decreased differently in each US region, the Northeast (76%) and Midwest (74%) experienced greater declines than the South (62%) and West (44%), impacting the market growth during the pandemic. However, the rising cardiac complications among patients, especially after contracting the coronavirus, increased the demand and need for cardiac POC testing devices to prevent cardiac complications. Currently, the market is expected to have stable growth during the forecast period.
Factors such as the rising incidence and prevalence of cardiovascular diseases and technological advances in cardiac POC testing devices are boosting market growth. For instance, according to the British Heart Foundation England Factsheet, published in January 2022, about 6.4 million people were living with cardiovascular diseases in England in 2021. In addition, according to the March 2022 update of the Australian Bureau of Statistics, the prevalence of heart disease in Australia was 4.0%, about 1 million people, in 2020-21. Also, as per the same source, in Australia, heart disease increased with age, from 2.3% of people aged 45-54 years through to 23.2% of people aged 75 years and over, with males being the most affected by it in the country. Thus, the high burden of CVD among the population increases the need for early detection of the condition, which in turn is anticipated to fuel the demand for cardiac POC testing devices over the forecast period.
Furthermore, according to an article published in Minerva Cardiology and Angiology, in June 2021, it was observed that the age-standardized estimates of CVD prevalence in Italy were similar, but the country's crude prevalence of CVD is almost two times higher than the global prevalence (12.9% vs. 6.6%). Thus, the increasing prevalence of heart diseases raises the need for cardiac POC testing devices for detecting cardiac disorders such as myocardial infarction, heart failure, and coronary syndromes, which help in delivering care based on the results of the POC tests. This is anticipated to fuel the market growth over the forecast period.
Moreover, rising product launches by the market players are expected to drive this market's growth further. For instance, in January 2022, PocDoc, a digital health platform and personal diagnostics provider, launched the world-first smartphone-based test for cardiovascular disease. The PocDoc test encompasses the entire five-marker lipid panel, which has been recognized as the global standard for evaluating cardiovascular health. Also, in July 2021, Beckman Coulter Inc. entered into definitive agreements with Quidel Corporation to acquire all rights related to the manufacture, distribution, and sale of the BNP test for Beckman Coulter analyzers. Under the terms of the agreement, Quidel will continue to manufacture and supply certain test-related components to Beckman Coulter, and it will exclusively manufacture the BNP test.
Therefore, owing to the factors such as the growing burden of cardiovascular diseases and rising technological advancement and product launches, the studied market is expected to grow over the forecast period. However, the lack of operating knowledge among the workforce and stringent regulations in the industry are likely to impede the growth of the cardiac POC testing devices market over the forecast period.
Cardiac PoC Testing Devices Market Trends
This section covers the major market trends shaping the Cardiac POC Testing Devices Market according to our research experts:
Analyzer Segment Expected to Witness Significant Growth Over the Forecast Period
The analyzers segment is expected to witness significant growth in the cardiac POC testing devices market over the forecast period. The factors attributing to the segment growth are the increasing burden of cardiovascular diseases among the population and growing technological advancements in cardiac analyzers.
The cardiac marker analyzers offer high throughput point-of-care solutions for the diagnosis of myocardial infarction and other cardiac-related diseases by measuring levels of STAT, cardiac troponin, CKM and CKB, Myoglobin and/or D-dimer in only 14 minutes or 36 tests per hour. A cardiac analyzer improves efficiency and accuracy with unique features such as software that provides an internal standard to account for membrane variability that is intrinsic to tests and integrated LCD displays for user convenience and visual clarity. Different types of biomarkers can be tested using the analyzers, including cardiac markers Troponin I, NT-proBNP, h-FABP, CK-MB, and Myoglobin.
In addition, the ability of analyzers to quantify the concentration of biomarkers in whole blood, serum, and plasma, which helps in clinical diagnosis, is also expected to increase the demand for cardiac analyzers segment over the forecast period.
Furthermore, the rising company activities in developing technologically advanced cardiac biomarker analyzers and rising product launches are also contributing to the market growth. For instance, in April 2022, Hipro and Affimedix launched the Hipro SimplyRead line of IVD reagents and AUTO POCT-Lab Analyzers POC products in India. Also, in April 2021, Siemens Healthineers launched Atellica VTLi Patient-Side Immunoassay Analyzer that provides lab standard, high-sensitivity cardiac troponin I (hs-cTnI) test results to clinicians in eight minutes using a patient's fingerstick blood sample. This launch helps the company transform the patient care paradigm with an innovative technology delivering hs-cTnI results at the patient's side to support clinicians in confidently diagnosing and treating heart attacks.
Therefore, owing to the factors such as the emerging technologically advanced products and rising company activities in developing products, the studied segment is expected to grow over the forecast period.
North America Expected to Have the Significant Market Share in the Cardiac PoC Testing Devices Market Over the Forecast Period
North America is expected to witness significant growth in the market over the forecast period. The factors attributing to the market growth are the rising cardiovascular burden among the population, high healthcare expenditure along with high healthcare spending, rising geriatric population, and growing technological advancements in POC testing devices.
In addition, genetic predisposition and behavioral risk factors are contributing to the increasing incidence of heart-related diseases in the region, which is also expected to raise the demand for cardiac POC testing devices over the forecast period.
The increasing prevalence of cardiovascular diseases among the population is the key factor driving the demand for POC testing devices in the region. For instance, according to the statistics published by AHA in June 2021, the prevalence rate of heart failure in Canada was between 1.5% to 1.9% in 2021. As per the same source, an estimated more than 130 million adults in the United States are expected to have some type of heart disease by 2035. Also, according to the 2022 data published by CDC, heart disease was the leading cause of death in the United States, and every year, about 805,000 people in the United States have a heart attack.
Additionally, a research study published in July 2021 observed that about 6-12 million people in the United States are expected to suffer from atrial fibrillation by 2050 and 17.9 million people by 2060. Thus, the expected increase in the burden of cardiovascular-related health problems among the population is anticipated to fuel the demand for technologically advanced analyzers, which in turn is anticipated to augment the market growth over the forecast period.
Furthermore, the rising company activities, as well as increasing focus on adopting various business strategies such as collaborations, new product launches, and mergers and acquisitions, increase the availability of advanced POC testing devices. This is also expected to boost the market growth in the region. For instance, in May 2021, Roche launched five new solutions for two key cardiac biomarkers, the high-sensitivity cardiac troponin T (cTnT-hs) and the N-terminal pro-brain natriuretic peptide assay, using the Elecsys technology. These clinical biomarkers help diagnose heart attacks and effectively manage heart failure.
Therefore, owing to the aforementioned factors, such as the rising burden of cardiovascular diseases as well as increasing product launches, the studied market is expected to grow over the forecast period.
Cardiac PoC Testing Devices Industry Overview
The cardiac POC testing devices market is competitive in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international and local companies that hold the market shares and are well known, including Abbott Laboratories, ACON Laboratories Inc., Alfa Scientific Designs Inc., American Screening Corporation Inc., Beckman Coulter Inc. (Danaher Corporation), Bio-Rad Laboratories Inc., F. Hoffmann-La Roche Ltd, Nano-Ditech Corporation, Nova Biomedical Corporation, and Siemens Healthineers AG.
Cardiac PoC Testing Devices Market Leaders
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Abbott Laboratories
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ACON Laboratories, Inc.
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Beckman Coulter Inc. (Danaher Corporation)
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Siemens Healthineers AG
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Bio-Rad Laboratories, Inc.
*Disclaimer: Major Players sorted in no particular order
Cardiac PoC Testing Devices Market News
- Mar 2022: Mylab Discovery Solutions launched an entire range of routine diagnostic kits and devices in a conventional and point-of-care format that includes the devices and kits for Immunology, Biochemistry, and Haematology. With this launch, the company helps the laboratories to use its devices and reagent kits to do all routine tests such as liver panels, cardiac profiles, urine panels, hormone panels, and other tests.
- Jan 2022: MEDLAB Middle East, Abbott (Lake Forest, IL, USA), showcased its portfolio of life-changing diagnostic tools and medical devices for point-of-care testing that help manage patients with COVID-19, diabetes, cardiovascular disease, and comorbidities.
Cardiac PoC Testing Devices Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Rising Incidence and Prevalence of Cardiovascular Disease
- 4.2.2 Technological Advances in Cardiac POC Testing Device
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4.3 Market Restraints
- 4.3.1 Lack of Operating Knowledge among Workforce
- 4.3.2 Stringent Regulations in the Industry
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product Type
- 5.1.1 Cardiac Markers Test
- 5.1.1.1 Cardiac Troponin (cTn) Test
- 5.1.1.2 Myoglobin Test
- 5.1.1.3 Creatine Kinase MB Isoenzyme (CK-MB) Test
- 5.1.1.4 Combinational Test Kits
- 5.1.1.5 Brain Natriuretic Peptide (BNP) Test
- 5.1.2 Analyzers
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5.2 By End User
- 5.2.1 Hospitals
- 5.2.2 Diagnostic Laboratories
- 5.2.3 Other End Users
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5.3 Geography
- 5.3.1 North America
- 5.3.1.1 United States
- 5.3.1.2 Canada
- 5.3.1.3 Mexico
- 5.3.2 Europe
- 5.3.2.1 Germany
- 5.3.2.2 United Kingdom
- 5.3.2.3 France
- 5.3.2.4 Italy
- 5.3.2.5 Spain
- 5.3.2.6 Rest of Europe
- 5.3.3 Asia-Pacific
- 5.3.3.1 China
- 5.3.3.2 Japan
- 5.3.3.3 India
- 5.3.3.4 Australia
- 5.3.3.5 South Korea
- 5.3.3.6 Rest of Asia-Pacific
- 5.3.4 Middle-East and Africa
- 5.3.4.1 GCC
- 5.3.4.2 South Africa
- 5.3.4.3 Rest of Middle-East and Africa
- 5.3.5 South America
- 5.3.5.1 Brazil
- 5.3.5.2 Argentina
- 5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Abbott Laboratories
- 6.1.2 ACON Laboratories Inc.
- 6.1.3 Alfa Scientific Designs Inc.
- 6.1.4 American Screening Corporation Inc.
- 6.1.5 Beckman Coulter Inc. (Danaher Corporation)
- 6.1.6 Bio-Rad Laboratories Inc.
- 6.1.7 F. Hoffmann-La Roche Ltd
- 6.1.8 Nano-Ditech Corporation
- 6.1.9 Nova Biomedical Corporation
- 6.1.10 Siemens Healthineers AG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cardiac PoC Testing Devices Industry Segmentation
As per the scope of the report, cardiac POC testing is a heart-related diagnostic test that is performed at or near a patient's point of care. Cardiac POC testing devices are frequently used to diagnose cardiac disorders such as myocardial infarction, heart failure, and coronary syndromes. These devices can detect enzymes, including brain natriuretic peptides, kinase, synthesizing troponin, and lactate dehydrogenase isoenzymes that are generated during heart failure and other critical cardiac situations. The Cardiac PoC Testing Devices Market is Segmented by Product Type (Cardiac Markers Test and Analyzers), End User (Hospitals, Diagnostic Laboratories, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the market size and forecasts in value (USD million) for the above segments.
| By Product Type | Cardiac Markers Test | Cardiac Troponin (cTn) Test |
| Myoglobin Test | ||
| Creatine Kinase MB Isoenzyme (CK-MB) Test | ||
| Combinational Test Kits | ||
| Brain Natriuretic Peptide (BNP) Test | ||
| By Product Type | Analyzers | |
| By End User | Hospitals | |
| Diagnostic Laboratories | ||
| Other End Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle-East and Africa | GCC |
| South Africa | ||
| Rest of Middle-East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Cardiac PoC Testing Devices Market Research FAQs
What is the current Cardiac PoC Testing Devices Market size?
The Cardiac PoC Testing Devices Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Cardiac PoC Testing Devices Market?
Abbott Laboratories, ACON Laboratories, Inc., Beckman Coulter Inc. (Danaher Corporation), Siemens Healthineers AG and Bio-Rad Laboratories, Inc. are the major companies operating in the Cardiac PoC Testing Devices Market.
Which is the fastest growing region in Cardiac PoC Testing Devices Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Cardiac PoC Testing Devices Market?
In 2024, the North America accounts for the largest market share in Cardiac PoC Testing Devices Market.
What years does this Cardiac PoC Testing Devices Market cover?
The report covers the Cardiac PoC Testing Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Cardiac PoC Testing Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Cardiac POC Testing Industry Report
Statistics for the 2024 Cardiac POC Testing market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cardiac POC Testing analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
