August 08, 2022 04:11 ET | Source: Facts & Factors Facts & Factors
LONDON, United Kingdom, Aug. 08, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Cardiac POC Testing Devices Market Size, Share, Growth Analysis Report By Product Type (Cardiac Markers Test and Analyzers), By End User (Research Laboratories, Hospitals, Ambulatory Surgical Centers, Diagnostic Laboratories and Others), and By Region- Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the demand of global Cardiac POC Testing Devices Market size & share was approximately USD 1,319.4 million in 2021. The market is expected to grow above a CAGR of 5.50% and is anticipated to reach over USD 1,819.25 million by 2028.”
The report analyses the Cardiac POC Testing Devices market’s drivers and restraints, as well as the impact they have on-demand throughout the projection period. In addition, the report examines global opportunities in the global Cardiac POC Testing Devices market.
POC (point of care) devices are mostly used for medical diagnostic tests. These tests are performed at a convenient time and location for patient care. Cardiac POC testing is a diagnostic procedure for the heart that is performed at the patient's point of care or very close by. In addition, POC testing is a blood diagnostic procedure used to find cholesterol and blood clotting issues. Cardiac POCT considerably reduces the time needed to retrieve reports and data.
These cardiac POC devices help patients save significant time by shipping medical samples to labs and waiting for long periods for findings. Owing to the rise in demand for Cardiac POC Testing Devices, the global Cardiac POC Testing Devices market is estimated to grow at a CAGR of 5.50% during the forecast period.
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Rising government spending on the construction of healthcare infrastructure to enable advanced healthcare facilities is a crucial factor accelerating market growth. Other important factors driving the cardiac point of care testing market include growing numbers of cardiac patients, changing lifestyle patterns, an increase in infectious diseases, and rapid economic growth in emerging economies. In addition, the cardiac point-of-care testing kits market will see new growth potential during the anticipated period due to the rising technology developments and modernization in the healthcare industry.
However, strict government regulations concerning product approval, rising costs for point-of-care testing equipment, product recalls, and industry resistance to changing the status quo are the main factors, among others, that will restrain market growth and pose additional challenges to the development of the cardiac point-of-care testing kits market over the course of the forecast period.
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Cardiac POC Testing Devices Market: COVID-19 Impact Analysis
Because of the COVID-19 outbreak, the production and distribution of cardiac POC testing equipment was significantly impeded. In addition, the decline in testing for cardiovascular disease that came about as a direct result of the activities undertaken in relation to COVID-19 had a detrimental impact, notably in the year 2020, on the market for POC testing equipment for cardiac conditions. As a result of the allocation of healthcare resources to COVID-19 patients, there is a delay in the diagnosis of cardiovascular illnesses, which has a negative impact on the market. In addition, the market for cardiac POC testing devices has been hampered because of lockdowns that have been enforced by the government, disruptions in the supply chain, and trade bans.
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Cardiac POC Testing Devices Market: Segmentation Analysis
The Global Cardiac POC Testing DevicesMarket is segregated based on product type, end-user, and region. Based on product type, the market is divided into Cardiac Markers Test and Analyzers. Among these, the Analyzerssegment dominated the market in 2021. Based on end-user, the market is divided into Research Laboratories, Hospitals, Ambulatory Surgical Centers, Diagnostic Laboratories and Others. Over the forecast period, the Hospitals segment is expected to develop at the fastest rate in 2021.
North America is expected to dominate the Global Cardiac POC Testing Devices Market in 2021. The highly developed healthcare infrastructure, incredibly favorable reimbursement standards, and the existence of a number of key industry players all contribute to the rapid rise of the North American regional market. However, over the forecast period, the Asia Pacific regional market is expected to grow at a significant rate in 2021.
The Asia Pacific region is also steadily growing due to increased awareness of cardiac diagnosis and treatment and rising healthcare expenditure. In addition, expansion in government investments in the construction of healthcare infrastructure and the launch of novel products by leading market participants are also driving the market growth.
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The report contains qualitative and quantitative research on the global cardiac POC testing devices Market, as well as detailed insights and development strategies employed by the leading competitors. The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts.
Some of the main players in the global cardiac POC testing devices market include
Browse the full “Cardiac POC Testing Devices Market Size, Share, Growth Analysis Report By Product Type (Cardiac Markers Test and Analyzers), By End User (Research Laboratories, Hospitals, Ambulatory Surgical Centers, Diagnostic Laboratories and Others), and By Region- Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/cardiac-poc-testing-devices-market
The global Cardiac POC Testing Devices market is segmented as follows:
Key Insights from Primary Research
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