Heart Failure POC and LOC Devices Market Overview
Market Research Future (MRFR) assumes that the market for point of care (POC) and lab on chip (LOC) devices for heart failure would be valued at over $ 175.35 million by the end of 2027. Heart Failure POC and LOC Devices Market size will most likely capture a CAGR of around 16.2% over the assessment period (2020 to 2027).
Main boosters and barriers
The Center for Disease Control & Prevention estimates that nearly 7.7 million people in the United States are affected by heart failure. The condition is marked by the inability of the heart to pump enough blood as well as oxygen that is needed to support all other organs in the human body. It is a serious disorder, even though the heart continues to beat. But previous reports show that more than half of patients who have developed heart failure die within 6 years of diagnosis.
Heart failure has become one of the world’s deadliest health problems and affects patients who lead unhealthy lifestyles and face a poor prognosis. The risk factors are hypertension, obesity and diabetes, which have all witnessed an increase in the current world population. Unmet medical needs are quite high, especially in emerging regions, and the demand for mortality reduction is expected to increase the need for more advanced POC and LOC devices in the future.
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People over the age of 60 constitute the largest target patient base in the global market. This age group is marked by compromised immunity levels and, therefore, is more susceptible to chronic diseases such as heart failure. In short, the steadily growing elderly patient base around the world would have a remarkable impact on POC and LOC devices for heart failure over the next several years.
The main types of tests are metabolomics tests, genomics tests and proteomics tests. The first place belongs to the proteomic testing segment, thanks to the increased need for biomarker testing with the use of proteomic testing.
Major technologies covered in the report for Heart Failure POC and LOC Devices industry are Array Based Systems, Microfluidics etc. The microfluidic category obtained the largest part of the market, as this technology facilitates the integration as well as the miniaturization of the majority of the functional protocols used in central laboratories in microfluidic biosensors or portable chips.
The main segments, as far as end user is concerned, are specialist centers, home care, hospitals and clinics, etc.
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North America successfully achieves the top spot in the global market, thanks to the enormous burden of heart disease like cardiovascular disorder, and more. Large-scale healthcare spending combined with increasing cases of obesity are also adding to the value of the market. In addition, the growing importance of a poor lifestyle that includes excessive alcohol consumption, smoking, and lack of exercise has increased people’s vulnerability to heart failure. This has created a favorable scenario for the North American market for POC and LOC devices for heart failure.
The second market position for POC and LOC devices for heart failure is in Europe, and the region can expect greater growth over the next two years. The increasing incidence of cardiovascular disease combined with the growing number of heavy smokers is also amplifying the demand for these devices. European industry is also benefiting from the proliferation of elderly patients facing a multitude of heart problems due to advancing age.
Asia-Pacific could expect rapid expansion in the years to come, thanks to the booming patient base and growing number of technological innovations in healthcare. The rapid growth of business in the region, particularly in India, Singapore, Japan and China, is also a result of rising per capita income and increased government initiatives to modernize health infrastructure. .
Leading manufacturers of POC and LOC devices for heart failure in the market include health Danaher (US), bioMÃ©rieux SA (France), Quidel Corporation (US), Siemens Healthineers (Germany), F. Hoffmann-La Roche Ltd. (Switzerland), Abaxis, Inc. (US), JantPharmacal Corporation (US), Trinity Biotech (Ireland), Instrumentation Laboratory Company (US), Abbott (US), and more.
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EBR Systems has successfully achieved a total of A $ 110 million in initial public offering on the Australian Securities Exchange (ASX). The Company’s WiSE CRT System is the very first and only heart failure-based wireless left ventricular endocardial pacing system. The device provides treatment for people unable to obtain CRT from a conventional probe-based device or for patients who are at high risk associated with leveling surgery.
TABLE OF CONTENTS
2. INTRODUCTION TO THE MARKET
2.2. Scope of the study
2.2.1. Research objective
3. RESEARCH METHODOLOGY
3.2. Data mining
3.3. Secondary research
3.4. Primary research
3.4.1. Primary interviews and information gathering process
3.4.2. Distribution of main respondents
3.5. Forecasting technology
3.6. Market size estimate
3.6.1. An in-depth approach
3.6.2. Top-down approach
3.7. Data triangulation
4. MARKET DYNAMICS
5. MARKET FACTOR ANALYSIS
â¦ Continued from the table of contents.
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