Cardiac POC Testing Devices Gaining Momentum Due to Greater Specificity in Cardiac Disease Diagnosis: Fact.MR Study

United States, Rockville MD, Aug. 11, 2022 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, has revealed that the global cardiac POC testing devices market is expected to reach a valuation of US$ 1.9 billion by 2026, rising at a high CAGR of 6% over the forecast period (2022-2026).

Rising occurrence of cardiovascular disorders around the world is one of the key reasons propelling the growth of the global cardiac POC testing devices market. Cardiac POC testing is the result of advanced medical technology. These cutting-edge methods aid in early disease detection and improved cardiac health.

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The number of deaths due to coronary artery disorders is on the rise, which is a cause for concern. Cardiac POC testing devices are gaining popularity due to their ability to diagnose the disease quickly and precisely. Growing public and private support for cardiac biomarker research, continuous clinical trials to find new cardiac biomarkers, the necessity to prevent heart illnesses, and rising awareness about early diagnosis are driving market expansion.

Medical diagnostic tests frequently entail cardiac POC testing devices. They also save time as compared to standard laboratory testing procedures. Additionally, these tools and kits are simple to use and ensure the security and contentment of the patient.

What’s Hampering the Sales of Cardiac POC Testing Devices?

“Lack of Accuracy in Quick POC Diagnostic Tests & Stringent Government Regulations Denting Market Growth”

The main factor impeding the expansion of the global market is the unreliable results produced by cardiac POC testing devices. Point-of-care testing may be advantageous in urgent situations requiring quick test findings for clinical evaluation. However, there are many drawbacks to point-of-care testing, mostly related to quality control.

While point-of-care testing is typically carried out by untrained workers as well as patients themselves, laboratory tests are carried out by trained specialists who ensure accurate results. As a result, there may be fluctuations in the test's results due to a lack of accuracy, which would hinder the point of care diagnostics market expansion.

Another factor impeding market expansion is the strict regulatory requirements for the approval of new devices. The regulatory agencies have recently implemented many changes to address the lack of standardization in the device portfolio, which causes lengthy product approval processes and, as a result, hinders the market for cardiac POC testing devices.

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Key Segments Covered in the Cardiac POC Testing Devices Industry Survey

• By Product:
  
  
  • Cardiac Markers Test
    
  • Analyzers

• By End User:
  
  
  • Hospitals & Laboratories
    
  • Clinics
  • Diagnostic Centers
  • Others

• By Region:
  
  
  • North America
    
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
    

Winning Strategy

Key manufacturers are concentrating on creating quick and accurate diagnostic tools to identify cardiovascular problems earlier. Major companies are working together to develop more advanced and portable testing solutions to make a mark in the industry.

For instance,        

• St. Jude Medical, a manufacturer of cardiac devices, was acquired by Abbott Laboratories. The partnership aims to create a sizable number of novel medical devices focused on patients with cardiovascular problems.
  

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Key players in the Cardiac POC Testing Devices Market

• LifeSign LLC
• Medtronic plc
• Nano-Ditech Corporation
• Nexus Dx, Inc.
• PTS Diagnostics
• Bio-Rad Laboratories, Inc.
• F. Hoffmann-La Roche AG
• Nova Biomedical Corporation

Key Takeaways from Cardiac POC Testing Devices Market Study

• The global cardiac POC testing devices market is predicted to reach US$ 1.9 billion by 2026.
• Market in Canada anticipated to increase at 6% CAGR over forecast period.
• Demand for analyzers expected to rise at 5.3% CAGR from 2022 to 2026.
• Market in Germany projected to increase at 5% CAGR through 2026.

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