Cardiac Point of Care Testing Market by Product, Biomarker Type, End-User

Description

List of Tables

[183 Pages Report] The Cardiac Point of Care Testing Market size was estimated at USD 8.31 billion in 2023 and expected to reach USD 9.38 billion in 2024, at a CAGR 13.14% to reach USD 19.74 billion by 2030.

Cardiac point of care testing refers to the bedside or near-patient testing of cardiac patients that facilitates immediate clinical decision-making. This form of diagnostic testing is performed outside of traditional laboratory environments, typically at the time and place of patient care, such as in emergency departments, clinics, ambulance services, or critical care units. The primary goal of cardiac point of care testing is to obtain rapid test results that can be used to assess the condition of a patient's heart, enabling timely and informed treatment interventions. It is often utilized for the detection of biomarkers associated with cardiac events, including myoglobin, homocysteine, and hs C-reactive protein (CRP). In the rapidly advancing domain of healthcare, the cardiac point of care (POC) testing market is gaining momentum, driven by the escalating need for swift and precise cardiovascular diagnostics. This market is defined by the engineering, manufacturing, and commerce of user-friendly diagnostic instruments and their corresponding reactive agents that facilitate on-site cardiovascular health assessments. These devices, instrumental within acute medical scenarios, cater to a diverse clientele across hospitals, outpatient clinics, and home healthcare. The proliferation of cardiac point of care testing is driven by increasing incidences of cardiovascular diseases among the population, technological strides that promise enhanced diagnostic veracity, and rising global healthcare investment. Despite obstacles such as stringent regulatory frameworks, concerns over diagnostic accuracy, and financial limitations in developing health ecosystems hinder the scope of the global cardiac point of care market. Improvements and robust advancements in cardiac POC testing technologies, including devices and biomarkers to improve testing capabilities, portray promising opportunities for the market vendors.

KEY MARKET STATISTICS
Base Year [2023]	USD 8.31 billion
Estimated Year [2024]	USD 9.38 billion
Forecast Year [2030]	USD 19.74 billion
CAGR (%)	13.14%

Regional Insights

In the Americas, the market for cardiac point of care testing continues to display robust growth, driven by the prevalence of cardiovascular diseases, rising healthcare expenditure, and the presence of robust healthcare infrastructure. Additionally, the growth is facilitated by the adoption of cutting-edge technologies, active government initiatives, and the availability of a wide range of products owing to the presence of significant market players. The EMEA region experiences a dynamic market landscape for cardiac point of care testing, where the European market benefits from favorable government policies, a high geriatric population, and an increasing number of initiatives aimed at lowering the burden of cardiovascular diseases. The Middle East and Africa showcase a growing market due to rising healthcare investments in the Middle Eastern countries and the growing awareness of cardiac health in Africa. The APAC region represents a promising market for cardiac point of care testing, with expectations for the highest growth rate in comparison to the Americas and EMEA. This is attributed to the vast population base, rapidly developing healthcare infrastructure in countries including China and India, and an increase in healthcare spending. Additionally, the region is experiencing a rise in lifestyle-related diseases, including heart conditions, which further propels the demand for quick and efficient diagnostic methods.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Cardiac Point of Care Testing Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing incidences of cardiovascular disorders among the population
- Favorable government initiatives for the introduction of POC testing
- Improving healthcare expenditure across economies worldwide

Market Restraints
- Fluctuating cost of materials and components used in cardiac POC testing

Market Opportunities
- Improvements and continuous advancements in cardiac POC testing
- Advances in the development of new biomarkers to improve testing capabilities

Market Challenges
- Operational and technical complexities in cardiac POC testing

Market Segmentation Analysis
- Product: Increasing demand for multiplex assays across clinics
- Biomarker Type: Increasing demand for heart-type fatty acid-binding protein (H-FABP) and ischemia-modified albumin (IMA) for early cardiac detection
- End-user: Rising usage of cardiac POC testing in diagnostic laboratories for complex systems with high sample capacities

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Cardiac Point of Care Testing Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Cardiac Point of Care Testing Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Hipro Point-of-Care Diagnostics Launched in India

Analyzers are instruments used to detect the presence and concentration of cardiac biomarkers, such as troponin, B-type natriuretic peptide (BNP), and other substances indicative of cardiovascular diseases. The need for analyzers arises when immediate results are critical for diagnosing and managing cardiac conditions, particularly in emergency settings. [Published On: 2023-04-22]

Jana Care to Enter Collaboration with Roche to Develop and Distribute Blood Testing Platform to Improve Remote Care for Patients With Chronic Kidney and Heart Disease

Jana Care Inc. partnered with Roche Diagnostics, to develop and distribute a blood testing platform to enhance remote care for patients with chronic kidney and heart disease. The initial phase of this collaborative effort spotlights the management and surveillance of chronic conditions, specifically chronic kidney disease and heart failure. Aimed at bridging gaps created by geographical and socio-economic barriers, this platform is poised to enhance early detection and consistent monitoring, thereby optimizing the management and mitigation of disease progression. [Published On: 2023-01-30]

Cipla expands diagnostics portfolio, launches point-of-care testing device

Cipla Limited has broadened its position in diagnostics with the rollout of Cippoint, a cutting-edge point-of-care testing device. This versatile innovation is engineered to facilitate an expansive array of diagnostic evaluations encompassing cardiac markers, making it particularly vital for rapid cardiac care. Additionally, it serves a multifunctional purpose by enabling the testing for diabetes, a variety of infectious diseases, fertility concerns, thyroid irregularities, inflammation, metabolic markers, and coagulation profiles. [Published On: 2023-01-18]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Cardiac Point of Care Testing Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Cardiac Point of Care Testing Market, highlighting leading vendors and their innovative profiles. These include Abaxis, Inc. by Zoetis Inc, Abbott Laboratories, ACON Laboratories, Inc., Beckman Coulter, Becton, Dickinson and Company, Bio-Rad Laboratories, Inc., bioMerieux SA, Cardiac Insight Inc., CardioGenics Holdings Inc., Chembio Diagnostic Systems, Inc. by Biosynex, EKF Diagnostics, F. Hoffmann-La Roche Ltd., Fujirebio, Horiba, Ltd., I-Sens Inc., LifeSign LLC, Nexus Dx, Inc. by Sinocare, Nova Biomedical, PTS Diagnostics by Danaher Corporation, Quidel Corporation, Radiometer Medical ApS, Randox Laboratories Ltd., Siemens Healthineers AG, Thermo Fisher Scientific Inc., and Trividia Health, Inc..

Market Segmentation & Coverage

This research report categorizes the Cardiac Point of Care Testing Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- Analyzers
- Kits & Assays
- Software & Services

Biomarker Type
- Cardiac Troponins
- CK-MB Fraction
- D-Dimer
- Heart-Type Fatty Acid-Binding Protein (H-FABP)
- Homocysteine
- hs C-reactive Protein (CRP)
- Ischemia-Modified Albumin (IMA)
- Myoglobin
- Natriuretic Peptides (NPs)
  - Atrial Natriuretic Peptide (ANP)
  - B-type Natriuretic Peptide (BNP)
  - N-terminal proBNP (NT-proBNP)

sCD40L

End-User
- Diagnostic Laboratories
- Hospitals & Clinics
- Research & Academic Institutes

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-3F5063247F53

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing incidences of cardiovascular disorders among the population
  - 5.1.1.2. Favorable government initiatives for the introduction of POC testing
  - 5.1.1.3. Improving healthcare expenditure across economies worldwide
- 5.1.2. Restraints
  - 5.1.2.1. Fluctuating cost of materials and components used in cardiac POC testing
- 5.1.3. Opportunities
  - 5.1.3.1. Improvements and continuous advancements in cardiac POC testing
  - 5.1.3.2. Advances in the development of new biomarkers to improve testing capabilities
- 5.1.4. Challenges
  - 5.1.4.1. Operational and technical complexities in cardiac POC testing
5.2. Market Segmentation Analysis
- 5.2.1. Product: Increasing demand for multiplex assays across clinics
- 5.2.2. Biomarker Type: Increasing demand for heart-type fatty acid-binding protein (H-FABP) and ischemia-modified albumin (IMA) for early cardiac detection
- 5.2.3. End-user: Rising usage of cardiac POC testing in diagnostic laboratories for complex systems with high sample capacities
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Cardiac Point of Care Testing Market, by Product

6.1. Introduction
6.2. Analyzers
6.3. Kits & Assays
6.4. Software & Services

7. Cardiac Point of Care Testing Market, by Biomarker Type

7.1. Introduction
7.2. Cardiac Troponins
7.3. CK-MB Fraction
7.4. D-Dimer
7.5. Heart-Type Fatty Acid-Binding Protein (H-FABP)
7.6. Homocysteine
7.7. hs C-reactive Protein (CRP)
7.8. Ischemia-Modified Albumin (IMA)
7.9. Myoglobin
7.10. Natriuretic Peptides (NPs)
7.11. sCD40L

8. Cardiac Point of Care Testing Market, by End-User

8.1. Introduction
8.2. Diagnostic Laboratories
8.3. Hospitals & Clinics
8.4. Research & Academic Institutes

9. Americas Cardiac Point of Care Testing Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Cardiac Point of Care Testing Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Cardiac Point of Care Testing Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Hipro Point-of-Care Diagnostics Launched in India
- 12.3.2. Jana Care to Enter Collaboration with Roche to Develop and Distribute Blood Testing Platform to Improve Remote Care for Patients With Chronic Kidney and Heart Disease
- 12.3.3. Cipla expands diagnostics portfolio, launches point-of-care testing device
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio