PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397152
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1397152
Cardiac point of care Market size was valued at USD 1,600 Million in 2022, expanding at a CAGR of 7.1% from 2023 to 2030.
Point-of-care (POC) testing allows for diagnostic analyses to be conducted in settings such as the emergency department or intensive care unit, where treatment decisions are made and care is provided based on the results of these evaluations. In the field of cardiology, cardiac point-of-care encompasses a range of diagnostic and monitoring tools that offer rapid and immediate information about a patient's cardiac health. In cardiac care, it is crucial to have quick diagnostic tests performed at the bedside or in close proximity to the patient. These tests may involve blood tests for cardiac biomarkers like troponin, creatine kinase-MB (CK-MB), and brain natriuretic peptide (BNP). Currently, there are point-of-care immunoassays available for several cardiac markers, including CK-MB, myoglobin, troponin I, and troponin T, which provide qualitative and quantitative results comparable to traditional central lab assays. The use of point-of-care cardiac markers can improve triage and clinical outcomes when assessing emergency room patients with chest pain. Cardiac point-of-care plays a critical role in delivering timely and effective cardiac diagnostics and monitoring, leading to enhanced patient outcomes, especially in emergency situations or critical care settings.
Early diagnosis and intervention are crucial in addressing the increasing prevalence of cardiovascular diseases and improving patient outcomes. Cardiac point-of-care (POC) testing plays a vital role in this process by allowing healthcare providers to quickly assess cardiac biomarkers and make timely decisions regarding treatment and management. According to the American Heart Association, CVD was responsible for approximately 19.1 million deaths worldwide in 2020, with an age-adjusted death rate of 239.8 per 100,000 population. The age-adjusted prevalence rate was 7354.1 per 100,000. Ischemic heart disease (IHD) affected an estimated 244.1 million individuals globally in 2020, with a higher prevalence among males (141.0 million) compared to females (103.1 million). The market for cardiac POC devices is expected to experience growth opportunities due to rapid technological advancements. However, it is important to note that stringent regulatory requirements for medical devices, including cardiac POC devices, can pose challenges in the cardiac point-of-care market.
The Global Cardiac point-of-care Market is segmented on the basis of Type, Application, and Region.
The market is divided into four categories based on type: Blood Tests Including Cholesterol, Coagulation Testing, Troponin Testing, and Cardiac Marker. The market is primarily dominated by blood tests, with the cholesterol segment taking the lead. Cholesterol testing point-of-care (POC) devices are specifically designed to deliver fast and immediate results. These devices prove to be highly beneficial in emergency situations or regular check-ups, allowing for quick assessments.
The market is divided into four categories based on application: Hospitals, Cardiac Centers, Ambulatory Surgical Centers, and Diagnostic Centers. The market is largely controlled by the hospital sector. POC testing allows for effective patient triage in emergency departments. Hospitals have the ability to promptly evaluate patients who exhibit cardiac symptoms, thus aiding in the prioritization of cases according to the seriousness of the condition.
The Cardiac point-of-care market is geographically widespread across North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided based on the countries involved in business activities. The market growth is expected to be dominated by North America, primarily due to its high adoption rate of advanced technology. In North America, there is ample availability of capital and funding, which facilitates investments in healthcare technologies. Both the public and private sectors contribute to the financial support required for the research, development, and implementation of advanced cardiac POC technologies. According to the Commonwealth Fund, the United States spent approximately 16.8% of its gross domestic product (GDP) on healthcare in 2019. Europe, on the other hand, is the second largest market during the forecast period, mainly due to the growing aging population and the rise in diseases
There is a growing demand for point-of-care testing (POCT) platforms that can perform multi-marker analysis. While troponin remains the primary analyte for diagnosing acute myocardial infarction (AMI), B-type natriuretic peptide (BNP) and NT-proBNP have proven to be valuable for short-term risk assessment. Additionally, there are other biomarkers that can aid in the early exclusion of AMI. In the United States market for point-of-care blood gas testing systems, Abbott and Alere are the main competitors, accounting for 82% and 15% of sales in 2016, respectively. IDEXX Laboratories, Inc. and LifeHealth LLC also offer portable systems, but they are not direct competitors to Abbott and Alere and hold smaller positions in the market. If the proposed Acquisition were to take place, it would likely have a detrimental impact on competition in the markets for point-of-care blood gas testing systems and point-of-care cardiac marker testing systems. Currently, customers can leverage the competition between Abbott and Alere to obtain better prices and improved products. However, the elimination of this direct competition would potentially allow the combined firm to exert unilateral market power, leading to higher prices, reduced innovation, and limited choices for consumers. Furthermore, entering these markets as a new player would require significant investments in research and development, FDA regulatory approval, and the establishment of a sales and service infrastructure in the United States. These endeavors are challenging, time-consuming, and costly, often resulting in failure to bring a competitive product to market.
On July 19, 2023, Roche announced that they will be presenting a patient-focused and science-driven exhibit at the 2023 American Association of Clinical Chemistry (AACC) Scientific Meeting and Clinical Lab Expo in Anaheim, California from July 23-27. Attendees will have the opportunity to witness Roche's latest developments in lab automation, core lab systems, and molecular and point-of-care solutions, as well as gain insight into the latest advancements in high-value medical diagnostic and digital solutions that are revolutionizing patient care.