Cardiac PoC Testing Devices Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Cardiac PoC Testing Devices Market is segmented by Product Type (Cardiac Markers Test and Analyzers), by End User (Hospitals, Diagnostic Laboratories, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report offers the value (in USD million) for the above segments.

Market Snapshot

Market Snapshot
Study Period: 2019-2027
Base Year: 2021
Fastest Growing Market: Asia-Pacific
Largest Market: North America
CAGR: 6.5 %

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Market Overview

Cardiac PoC Testing Devices Market is expected to grow at a CAGR of 6.5% over the forecast period (2022-2027).

The COVID-19 pandemic has significantly impacted the manufacturing and distribution of cardiac POC testing devices. In addition, the reduction in cardiovascular disease testing due to the measures related to COVID-19 has adversely affected the cardiac POC testing devices market, especially in 2020. Another factor that is negatively impacting the market is the delay in the diagnosis of cardiovascular diseases due to healthcare resources. reserved for patients with COVID-19. However, government-mandated lockdowns, supply chain disruptions, and trade bans have also affected the cardiac POC testing devices market.

According to a research article by Tarun Dalia et al., published in the Indian Heart Journal in February 2021, the occurrence of congestive heart failure (CHF) in patients with COVID is associated with increased mortality and worse outcomes. In addition, there is an increased risk of acute heart damage and cardiac arrhythmia in non-survivors and in patients with severe COVID-19 disease. Such studies show the importance of diagnosing heart disease in patients infected with the coronavirus. Therefore, the growing need for rapid tests and early diagnosis of heart diseases among people is expected to create lucrative opportunities for the target market during the forecast period.

In addition, the increasing prevalence of cardiovascular disorders, technological advancements, increase in the use of ambulatory services for testing, and favorable reimbursement policies are key factors driving the growth of the cardiac POC testing devices market. For example, according to World Health Organization (WHO) data updated in June 2021, nearly 33.5 million people worldwide suffer from atrial fibrillation (AFib), the most common type of serious arrhythmia. Additionally, according to the American Heart Association's 2020 Heart and Stroke Statistics Update, more than 356,000 out-of-hospital cardiac arrests (OHCAs) occur in the United States each year, and more than 90.0% of them are fatal. The annual incidence of non-traumatic OHCA is estimated to be 356,461, or about 1,000 people every day. This will lead to an increased need for rapid POC tests for early detection of cardiac diseases or infections and is therefore expected to boost the growth of this market over the study period. Moreover, with the increase in the aging population worldwide, the number of patients suffering from cardiac disorders is likely to increase and the demand for cardiac POC testing devices is anticipated to rise over the forecast period.

The rising demand for point-of-care testing due to the increasing burden of heart diseases along with rising investment in research and development activities is likely to fuel the growth of the target market. For example, according to a November 2021 report from the United States Department of Health and Human Services, the Biden administration announced that it would invest approximately USD 650.0 million in rapid diagnostic testing and strengthening domestic diagnostic manufacturing capacity. This is expected to have a significant impact on the growth of the studied market as the demand for rapid testing and point-of-care testing increases.

However, a lack of operating knowledge among workforce and stringent regulations are expected to restrain the market growth.

Scope of the Report

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. Cardiac POC Testing Devices Market is segmented by Product Type (Cardiac Markers Test and Analyzers), by End User (Hospitals, Diagnostic Laboratories, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East & 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
Analyzers
By End User
Hospitals
Diagnostic Laboratories
Other End Users
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Analyzer Segment is Expected to Witness Growth Over the Forecast Period

The analyzers offer high-resolution point-of-care diagnostics for the detection of heart diseases such as myocardial infarction, atrial fibrillation, and more. These devices monitor the number of enzymes and proteins secreted by the heart. Moreover, it is a key factor driving the growth of the analyzer segment such as its ability to quantify the concentration of biomarkers in whole blood, serum, and plasma, which helps in clinical diagnosis. Different types of biomarkers can be tested using the analyzers including cardiac markers Troponin I, NT-proBNP, h-FABP, CK-MB, Myoglobin, and others.

In addition, the growth of the segment is driven by the launch of innovative products from major companies that can offer highly sensitive, rapid, and accurate results in one-step and ancillary clinical diagnosis. For example, in April 2021, Siemens Healthineers received the CE mark for the Atellica VTLi Patient-Side Immunoassay Analyzer. The Atellica VTLi analyzer provides laboratory-standard high-sensitivity cardiac troponin I (hs-cTnI) results to clinicians in eight minutes using a patient fingertip blood sample.

Therefore, the above mentioned factors indicates that the segment is anticipated to witness considerable growth over the forecast period.

Estimated Number of People Living with Cardiovascular Diseases, United Kingdom, 2021

North America is Expected to Dominate the Cardiac POC Testing Devices Market

North America is expected to hold the largest market share in the cardiac POC testing devices market due to factors such as the increasing incidence of cardiovascular diseases in the country. Additionally, increased population, aging demographics, genetic predisposition, and behavioral risk factors are contributing to the increased incidence of heat-related illnesses. Lack of physical exercise, unhealthy lifestyle, poor eating habits, chronic stress, smoking, and excessive alcohol consumption. Such risk factors can have long-term consequences in the form of high blood pressure, high blood glucose, and lipid levels, as well as overweight and obesity. Stroke and cardiac arrest are two typical consequences that can occur as a result of these risk factors. The economic burden associated with the incidence of CVD is a major source of concern in the country. According to data from the American Heart Association updated in January 2021, by 2035, 45.0% of the United States population will likely suffer from heart disease due to high levels of obesity, excessive smoking, and unhealthy lifestyles.

Several companies initiate various strategies such as collaborations, new product launches, and mergers and acquisitions to maintain their market shares. For example, in April 2021, Roche announced five new intended uses for two critical cardiac biomarkers, the high-sensitivity cardiac troponin T (cTnT-hs) and the N-terminal pro-brain natriuretic peptide assay, both based on Elecsys technology. (NT-proBNP). These clinical biomarkers help diagnose heart attacks and effectively manage heart failure.

Thus, due to the above-mentioned developments, the market in North America is expected to grow during the forecast period.

cardiac poc testing devices market report

Competitive Landscape

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 as well as local companies which 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), Biomerica, Inc., Bio-Rad Laboratories, Inc., F. Hoffmann-La Roche AG, LifeSign LLC, Nano-Ditech Corporation, Nexus Dx, Inc., Nova Biomedical Corporation, PTS Diagnostics, Sekisui Medical Co., Ltd., and Siemens Healthineers AG among others.

Recent Development

  • 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 Beckman Coulter will exclusively manufacture the BNP test.
  • In July 2020, SphingoTec GmbH launched IB10 sphingotest bio-ADM, a CE-IVD-marked point-of-care test to quantitatively determine blood levels of Bioactive Adrenomedullin (bio-ADM).

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Incidence and Prevalence of Cardiovascular Disease

      2. 4.2.2 Technological Advances in Cardiac POC Testing Device

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Operating Knowledge among Workforce

      2. 4.3.2 Stringent Regulations in the Industry

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Product Type

      1. 5.1.1 Cardiac Markers Test

        1. 5.1.1.1 Cardiac Troponin (cTn) Test

        2. 5.1.1.2 Myoglobin Test

        3. 5.1.1.3 Creatine Kinase MB Isoenzyme (CK-MB) Test

        4. 5.1.1.4 Combinational Test Kits

        5. 5.1.1.5 Brain Natriuretic Peptide (BNP) Test

      2. 5.1.2 Analyzers

    2. 5.2 By End User

      1. 5.2.1 Hospitals

      2. 5.2.2 Diagnostic Laboratories

      3. 5.2.3 Other End Users

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle-East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle-East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Abbott Laboratories

      2. 6.1.2 ACON Laboratories, Inc.

      3. 6.1.3 Alfa Scientific Designs, Inc.

      4. 6.1.4 American Screening Corporation, Inc.

      5. 6.1.5 Beckman Coulter Inc. (Danaher Corporation)

      6. 6.1.6 Biomerica, Inc.

      7. 6.1.7 Bio-Rad Laboratories, Inc.

      8. 6.1.8 F. Hoffmann-La Roche AG

      9. 6.1.9 LifeSign LLC

      10. 6.1.10 Nano-Ditech Corporation

      11. 6.1.11 Nexus Dx, Inc.

      12. 6.1.12 Nova Biomedical Corporation

      13. 6.1.13 PTS Diagnostics

      14. 6.1.14 Sekisui Medical Co., Ltd.

      15. 6.1.15 Siemens Healthineers AG

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape Covers - Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Global Cardiac PoC Testing Devices Market market is studied from 2019 - 2027.

The Global Cardiac PoC Testing Devices Market is growing at a CAGR of 6.5% over the next 5 years.

Asia-Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Abbott Laboratories, ACON Laboratories, Inc., Beckman Coulter Inc. (Danaher Corporation), Siemens Healthineers AG, Bio-Rad Laboratories, Inc. are the major companies operating in Global Cardiac PoC Testing Devices Market.

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