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Heart Failure POC and LOC Devices Market - By Test Type (Proteomic, Metabolomic, Genomic), Technology (Microfluidics, Array-based Systems), End-use (Hospitals, Specialty Clinics, Assisted Living & Homecare Settings) – Global Forecast (2024 – 2032)
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Heart Failure POC and LOC Devices Market
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Base Year: 2023
Companies covered: 15
Tables & Figures: 221
Countries covered: 23
Pages: 160
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Heart Failure POC and LOC Devices Market Size
Heart failure POC and LOC Devices Market size was valued at around USD 91.7 million in 2023 and is estimated to grow at 16.4% CAGR from 2024 to 2032. Heart failure POC (Point-of-Care) and LOC (Low-oxygen concentration) devices are medical devices designed to assist in the diagnosis, monitoring, and management of heart failure, a chronic condition characterized by the heart's inability to pump blood effectively. These devices are intended for use at the point of care, such as clinics, hospitals, or home settings, to provide rapid and convenient assessment of heart function and oxygenation status.
The advancement in diagnostic technologies is a significant driver for the heart failure POC and LOC devices market. For instance, National Institutes of Health, in 2023, paper-based microfluidics offers inherent microfluidic benefits along with the performance of lateral flow strips. Further, chemiluminescence techniques on paper microfluidics can perform multiplexed analysis of antibodies like cardiac troponin I (cTnI), heart-type fatty acid-binding protein (H-FABP), and copeptin for acute myocardial infarction diagnosis.
Moreover, increasing use of heart pump devices (market size is estimated to account for USD 9.2 billion by the end of year 2032), rising adoption of prosthetic heart valves, advancement in structural heart devices, rising healthcare expenditure globally, government initiatives and funding, and increasing education & awareness, are the stretching factors advancing the growth of the market.
Heart Failure POC and LOC Devices Market Trends
The increasing prevalence of heart failure and cardiovascular diseases is a significant driver for market. These diseases are major global health concerns affecting millions of individuals worldwide.
Heart Failure POC and LOC Devices Market Analysis
Based on test type, the market is segmented into proteomic testing, metabolomic testing, and genomic testing. The proteomic testing segment is estimated to account for USD 155.9 million by the end of 2032.
Based on technology, the heart failure POC and LOC devices market is divided into microfluidics, array-based systems, and other technologies. The microfluidics segment accounted for USD 43.7 million in 2023.
Based on end-use, the heart failure POC and LOC devices market is divided into hospitals, specialty clinics, assisted living healthcare facilities, homecare settings, and other end-users. The hospitals segment accounted for a market share of 35.9% in 2023.
The U.S. heart failure POC and LOC devices market is anticipated to grow at CAGR of 16% during the analysis time.
Germany heart failure POC and LOC devices market is anticipated to witness lucrative growth between 2024 – 2032.
Japan heart failure POC and LOC devices market is expected to grow significantly over the years.
UAE heart failure POC and LOC devices market is anticipated to witness lucrative growth between 2024 – 2032.
Heart Failure POC and LOC Devices Market Share
The heart failure POC and LOC devices industry is highly competitive, marked by several players striving for market dominance. Providers offer comprehensive devices with improved efficiency and affordability. This includes advancements in reading, automation, data reporting, sensor design, and customization. Competition is driven by factors such as the quality, reliability, performance, cost, and compliance with regulatory standards. Strategic partnerships with companies and healthcare networks play a crucial role in market positioning.
Heart Failure POC and LOC Devices Market Companies
Some of the eminent market participants operating in the heart failure POC and LOC devices industry include:
Heart Failure POC and LOC Devices Industry News:
The heart failure POC and LOC devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Test Type
Market, By Technology
Market, By End-use
The above information is provided for the following regions and countries: