According to the latest report published by Credence Research, Inc. “Cardiac POC Testing Devices and Kits Market (Device type: Cardiac POC testing analyzer, Cardiac POC test kits (Cardiac Troponin Biomarker Test, Myoglobin Biomarker Test, Brain Natriuretic Peptide (BNP) Test Myoglobin Biomarker Test, Creatine Kinase Myoglobin (CK-MB) Biomarker Test, Hybrid test))- Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global cardiac POC testing devices and kits market was valued at US$ 2.03 Bn in 2016, expanding at a CAGR of 12.4%.
Browse the full report Cardiac POC Testing Devices and Kits Market – Growth, Future Prospects and Competitive Analysis, 2017–2025 report at http://www.credenceresearch.com/report/cardiac-poc-testing-devices-and-kits-market
Implementation of point of care testing have been increasing in past years in various clinical domain including cardiology. Point of care (POC) testing improves patient diagnostic approaches by reducing turnaround time and providing efficient clinical outcome. As per Center for Disease Control and Prevention (CDC), around 790,000 people suffer from myocardial infarction each year in America which remains the leading cause of death. Changing lifestyle, eating habits, increasing daily stress being the main reasons behind myocardial infarction lead to increasing popularity of cardiac point of care testing devices among healthcare providers and public for easy, quick and accurate diagnosis of cardiac disease.
Ease in sample processing and improved quality of patient reports with precise and actionable clinical result play as key factors of increasing preference towards cardiac POC testing devices and kits in medical centers. Increasing consumer awareness, inclination of patients to self-diagnosis and patient satisfaction with effective outcomes fuel the growth of cardiac POC testing devices and kits market. Cardiac POC testing devices reduce the burden of overcrowded medical centers in developed nations by lowering the chances of patient’s readmission to hospital and also minimize need of skilled healthcare personnel which act as driving factors for the growth of cardiac POC testing devices and kits market. On the basis of device type, cardiac POC test kit is estimated to be the leading segment owing to cheaper cost and surging demand among healthcare professionals. Approach towards innovative POC testing using microfluidics, novel schemes of detection of diseases and application of advanced connectivity between assay device and medical record are expected to contribute major growth in the cardiac POC testing devices and kits market in coming years.
Geographically, North America dominated the cardiac POC testing devices and kits market in the year 2016 due to steady growth in prevalence of myocardial infarction, developed healthcare infrastructure, healthcare reform, adoption of advanced technology, health awareness among patients and wide ranges of Clinical Laboratory Improvement Amendments (CLIA) waved procedures. Europe is anticipated to be largely driven by growing prevalence of chronic ailments, increasing demand of POC testing devices and growing focus on technologically advanced connected healthcare. Asia-Pacific is predicted to witness fastest growth as a result of growing consumer awareness, emerging economies and developing healthcare infrastructure.
Market Competition Assessment:
The cardiac POC testing devices and kits market presently comprises various companies having their products marketed. The key industry players include Nexus Dx, Inc., LifeSign LLC., Alfa Scientific Designs, Inc., Spectral Diagnostics, Roche Diagnostics International Ltd., American Screening Corporation, Inc., Alere, Abbott, Siemens Ltd., Mitsubishi Chemical, bioMérieux, Inc., Nano-Ditech Corp. and other notable players.
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Key Market Movements:
- The increasing awareness of public regarding to better health, increasing expenditure in R&D for product innovation, growing prevalence of chronic cardiac diseases to propel growth of cardiac POC testing devices and kits market.
- Meeting regulatory guidelines for product approval and pricing competition among manufacturers might hamper the growth of cardiac POC testing devices and kits market. Overall increased cost of healthcare and potential errors due to lack of skilled technician might pose some challenges on the growth of this market.