Austin, United States, Dec. 07, 2024 (GLOBE NEWSWIRE) -- Heart Failure POC & LOC Devices Market Size & Growth Analysis:
“According to SNS Insider, The Heart Failure POC & LOC Devices Market was valued at USD 95.94 million in 2023 and is expected to reach USD 401.91 million by 2032, growing at a CAGR of 17.26% over the forecast period 2024-2032.”
Rising demand for early detection and monitoring of heart failure, along with technological advancements in diagnostic devices, are key growth drivers for the market.
Market Overview
The Heart Failure POC & LOC Devices market is witnessing significant growth as the demand for early detection and continuous monitoring of heart failure patients increases. Heart failure, being a chronic and recurrent condition, demands timely interventions for effective management and improved patient outcomes. Point-of-care (POC) and lab-on-chip (LOC) devices are playing an increasingly crucial role in this process by providing real-time diagnostic results. These devices are being rapidly adopted across a variety of healthcare settings, including hospitals, outpatient clinics, emergency care units, and even home care environments, where timely diagnosis and treatment are essential.
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The integration of artificial intelligence (AI) and machine learning (ML) in these devices is further enhancing predictive capabilities, enabling healthcare providers to intervene proactively. With the rising preference for home-based care and the decentralization of healthcare, POC and LOC devices offer a cost-effective solution for patients to monitor their condition outside of clinical settings. This trend has been accelerated by public and private investments and the development of user-friendly, miniaturized devices, which allow healthcare providers to make informed decisions swiftly.
Furthermore, the growing awareness of heart failure and the increased focus on strengthening cardiovascular healthcare systems globally are contributing to the expansion of the market. With more advanced technology being incorporated into diagnostic devices, patients benefit from better management of their condition, potentially reducing hospitalizations and improving survival rates.
Major Players Analysis Listed in this Report are:
- Abbott
- Danaher Corporation
- Siemens Healthineers
- F. Hoffmann-La Roche Ltd.
- Quidel Corporation
- bioMérieux S.A.
- Trinity Biotech
- Instrumentation Laboratory
- Abaxis Inc.
- Becton Dickinson and Company
- BioTelemetry Inc.
- Masimo Corporation
- Novartis AG
- Stryker Corporation
Heart Failure POC & LOC Devices Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 95.94 million |
| Market Size by 2032 | US$ 401.91 million |
| CAGR | CAGR of 17.26% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | Rising demand for early detection, AI integration, and decentralized care fuels market expansion |
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Segment Analysis
By Test Type
Dominant Segment: Proteomic Testing
Proteomic testing led the market in 2023, accounting for approximately 53.0% of the total market share. This dominance is driven by the increasing recognition of biomarkers as essential tools for the early diagnosis and effective management of heart failure. Proteomic tests help in identifying specific proteins in blood or tissues that can reveal the presence, severity, and prognosis of heart failure. As precision medicine becomes more prevalent, proteomic testing offers non-invasive, personalized approaches to patient care, allowing healthcare professionals to monitor protein levels for tailored treatment. The widespread adoption of these tests is expected to continue as they contribute to more accurate and timely interventions.
By Technology
Dominant Segment: Microfluidics
Microfluidics technology dominated the market in 2023 due to its ability to miniaturize diagnostic tests. This technology allows for the rapid, affordable, and accurate analysis of heart failure biomarkers using small sample volumes. Microfluidics-based devices are ideal for both POC and LOC applications and are widely used in hospital and home care settings. The growing need for rapid, in-situ diagnostics has contributed to the strong market presence of microfluidics technology.
Heart Failure POC & LOC Devices Market Key Segmentation:
By Test Type
- Proteomic testing
- Metabolomic testing
- Genomic testing
By Technology
- Microfluidics
- Array-based systems
- Others
By End-Use
- Clinics
- Hospitals
- Home
- Assisted living healthcare facilities
- Laboratory
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Regional Analysis
In 2023, North America dominated the Heart Failure POC & LOC Devices market, holding a significant share. The region's market leadership can be attributed to advanced healthcare infrastructure, high awareness levels regarding heart failure, and the presence of key market players. The growing adoption of POC and LOC devices in both hospital and home care settings is further fueling market growth in North America. The U.S. particularly benefits from high public and private investments in healthcare technology, which accelerates the development and adoption of innovative diagnostic devices.
Europe followed closely behind North America, with increasing healthcare spending, higher rates of chronic diseases such as heart failure, and supportive healthcare policies driving the adoption of POC and LOC devices. The rising demand for rapid, accurate, and cost-effective diagnostics in countries such as Germany and the U.K. contributes to the growth of the market in this region.
The Asia Pacific region is also emerging as a key growth market for Heart Failure POC & LOC Devices, driven by the growing prevalence of heart failure, an expanding healthcare sector, and increasing investments in medical technology. With significant developments in India and China, the region is poised to become a major player in the global market in the coming years.
Recent Developments
- November 2024: Emory University Hospital became the first in the U.S. to perform a surgical implantation of a novel ventricular assist device (VAD) designed for patients with heart failure. This marks a significant advancement in heart failure treatment.
- August 2024: Researchers developed a point-of-care electrochemical biosensor prototype for heart failure screening. This device, resembling a lateral flow test, measures two biomarkers for heart failure from a drop of saliva in just 15 minutes, improving access to screening, especially in underserved areas.
- April 2024: Roche Diagnostics India launched its Heart Failure Test for Diabetics on its point-of-care device. This development is set to improve early detection and timely intervention for diabetic patients with heart failure.
Conclusion
The Heart Failure POC & LOC Devices market is poised for significant growth due to the rising demand for early diagnosis, the shift toward decentralized care, and technological advancements. As the market progresses, innovations in test types and technologies, including proteomic and genomic testing as well as microfluidics and array-based systems, will continue to drive expansion. Furthermore, recent product launches and developments highlight the industry's commitment to providing faster, more accessible diagnostics for heart failure patients, ultimately improving patient care worldwide.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Heart Failure POC & LOC Devices Market Segmentation, by Test Type
8. Heart Failure POC & LOC Devices Market Segmentation, by Technology
9. Heart Failure POC & LOC Devices Market Segmentation, by End-Use
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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