Heart Failure POC And LOC Devices Market Size, Share & Trends Analysis Report By Test Type, By Technology (Microfluidics, Array-based Systems), By End Use (Clinics, Hospitals, Assisted Living Healthcare Facilities), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global heart failure POC and LOC devices market size was valued at USD 82.1 million in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 16.9% from 2023 to 2030. Due to miniaturization, lab-on-chip (LOC) technology exhibits a high potential to improve disease diagnosis concerning cost-effectiveness, throughput, ease of operation, and analysis. R&D towards developing novel LOC-based assays for diagnosing cardiovascular disease (CVD) is expected to drive the market.

Lab-on-a-chip (LOC) technology for diagnostics has been implemented for both Point-of-care (POC) diagnostics and central lab testing. However, only POC tests are commercially available for heart failure diagnosis in the current market. This, in turn, has created lucrative opportunities for emerging diagnostic developers who are striving to establish a substantive position in this market.

The presence of several clinical manifestations of heart failure and symptoms that are often non-specific has made the conventional diagnosis mode complicated. This has triggered the development of many POC tests, accelerating decision-making for individuals with the risk of developing heart disorders. POC tests help detect cardiac markers and other time-critical parameters to address challenges of health disparities efficiently.

Furthermore, government bodies are undertaking several measures to circumvent the rising healthcare expenditure caused due to hospital admissions. For instance, the European Commission has funded a project- KardiaTool, that aimed at developing low-cost LOC assays for detecting biomarkers from saliva samples to detect the risk of heart failure.

The absence of a well-defined reimbursement for the POC devices equipped with a cassette or cartridge that carries out multiple tests restrains the growth to a certain extent. To address this challenge, the manufacturers are engaged in strategizing for effective reimbursement for multi-analyte POC tests.

Test Type Insights

Based on the test type, the market is segmented into proteomic, metabolomic, and genomic testing. The proteomic testing segment accounted for the largest revenue share of 50.4% in 2022. Technological advancements in omics studies have encouraged research on the role of genomics, proteomics, and metabolomics in cardiovascular events. This, in turn, helps identify novel biomarkers and assays to predict the risk of a heart attack before any symptom occurs. For instance, in April 2022, scientists at SomaLogic Inc. developed a blood test that can be used to predict an individual’s risk of heart attack, stroke, failure, and dying from these conditions in the upcoming four years.

The metabolomics testing segment is expected to grow at the fastest CAGR of 17.8% during the forecast period. N-terminal pro-b-type natriuretic peptide (NTproBNP), troponin, and B-type natriuretic peptide (BNP) are some common peptides assessed to monitor cardiovascular events. Particularly, Troponin T (TnT) and Troponin I (TnI) are the most specific protein biomarkers linked with myocardial infarction.

Thus, most companies have targeted this biomarker, considering it a key revenue-generating segment. The presence of a relatively high number of commercial POC devices based on protein marker testing has contributed to the estimated share of proteomic testing.

Technology Insights

The market is segmented based on technology into microfluidics, array-based systems, and others. The microfluidics segment accounted for the largest revenue share of 48.8% in 2022 and is expected to grow at the fastest CAGR of 17.5% during the forecast period. Growing concern about mortality and morbidity rates due to cardiovascular diseases (CVD) has driven the demand for rapid, portable, and inexpensive biosensing devices for screening cardiovascular events. POC biosensors help in the early diagnosis of heart failure without needing hospital visits, eliminating the need for tedious and expensive laboratory tests.

In the past years, microfluidic biosensors have witnessed an increase in adoption rate as they allow functional protocols employed in central laboratories into a portable chip to integrate and miniaturize. Moreover, it offers several benefits, such as less consumption of reagent/sample and rapid turnaround time.

As a result, in the past few years, POC applications of paper-based 3D microfluidics have increased considerably owing to their efficiency in liquid manipulation at a high level. These factors have led to the largest revenue share of microfluidic technology. Growing advances in this technique are expected to drive the segment in the coming years.

End Use Insights

The market is segmented into clinics, hospitals, homes, assisted living healthcare facilities, and laboratories based on end use. The clinic's segment accounted for the largest revenue share of 37.7% in 2022. POC testing has proven efficient in meeting critical needs within various healthcare settings. This includes inpatient settings such as operating rooms, emergency rooms, or intensive care units, as well as outpatient settings such as physician's offices, clinics, and home healthcare nursing centers.

In outpatient clinics, healthcare personnel seek to substitute curative medicines with predictive disease testing for the chances of heart failure. Outpatient clinics are using POC devices at a larger scale for on-time and effective diagnosis to make informed decisions for the treatment of heart failure. This, in turn, has led to the dominance of clinics over other end use settings.

Moreover, research and development, advancement in technology, use of AI, and development of new tools and tests are expected to further add to the efficiency of POCs in the market. For instance, in May 2023, research funded by the British Heart Foundation and NIHR developed an algorithm called CoDe-ACS which uses patient information such as age, sex, heart measurements, and other results to predict a person's likelihood of a heart attack.

The home segment is expected to grow at the fastest CAGR of 18.3% due to advancements in POC and LOC devices. Anyone with basic training can monitor some high-tech innovations that are easy to carry and use. Such features allow people to carry these devices anywhere or use them at home to get immediate results. Introducing products such as Minicare I-20 by Philips as a simple and easy-to-use device for non-laboratory ‏staff is driving the adoption of products for tests within home settings. Self-testing at home supports timely clinic visits and improves outpatient care, driving segment growth.

Regional Insights

North America dominated the market and accounted for the largest revenue share of 41.6% in 2022 due to major market participants in the U.S. contributing to substantial organic revenue growth in the global heart failure POC & LOC devices market. For instance, in December 2021, Quidel Corporation and Ortho Clinical Diagnostics Holdings plc signed a business combination agreement. Patients are being provided improved access to immunohematology, immunoassay, molecular diagnostics, clinical chemistry, donor screening, and point-of-care diagnostics products. On the other hand, demand for diagnostic services continues to increase in Asian countries.

Asia Pacific is expected to grow at the fastest CAGR of 20.5% during the forecast period from 2023 to 2030. This growth is due to a shift in focus from infectious to chronic diseases like acute coronary syndrome, myocardial infarction, and cardiac ischemia. In addition, owing to rising standards of medical practice and developing state-of-the-art infrastructure, Asian countries are becoming a preferred choice for several global diagnostic companies to expand their business operations.

For example, Illinois-based Abbott Laboratories gains one-third of its worldwide revenues from Asia. Furthermore, global companies collaborate with state and global government bodies to expand their market access in countries with the lowest market penetration.

For instance, in February 2019, ROYAL Philips collaborated with Saudi Arabia’s Ministry of Health (MOH) to offer an integrated Cardiovascular Information System (CVIS) throughout the country. CVIS would enable the availability of medical information of any patient on demand in each of the connected hospitals. This initiative was undertaken to improve cardiology care in the country.

Key Companies & Market Share Insights

The rising funding for managing CVD has triggered significant investments in developing a product portfolio for heart failure testing in point-of-care settings. Moreover, the growing interest of end users in implementing POC cardiac marker testing in clinics has also prompted the key developers to expand their product portfolio.

The companies are developing disposable and low-cost laboratory-on-a-chip assays that cover testing multiple cardiac biomarkers such as troponin I, CK-MB, BNP, Pro-BNP, D-Dimer, and myoglobin from a single specimen. In addition, key players collaborate with other players to receive exclusive rights for selling and distributing POC devices across the globe to enhance their market presence. For instance, In December 2022, Ultromics' EchoGo obtained US Food and Drug Administration approval for their device EchoGo, an AI-based technology that delivers precise detection of heart failure with intact ejection fraction. In May 2022, BioMérieux acquired Specific Diagnostic. This acquisition contributed to bioMérieux's global leadership in clinical microbiology by bringing significant innovation to the market and enhancing the company's fight against antimicrobial resistance.

Similarly, in October 2020, Abbott launched implantable cardioverter defibrillator and cardiac resynchronization therapy defibrillator devices in India. The gadgets use smartphone connectivity and applications to provide new potential for patient interaction and remote monitoring. Such developments are expected to foster the growth of the market during the forecast period. The following are some of the major participants in the global heart failure POC and LOC devices market:

• Abbott

• Danahar

• Siemens Healthineers

• F. Hoffmann-La Roche Ltd.

• Quidel Corporation

• bioMérieux S.A

• Trinity BiotechInstrumentation Laboratory

• Abaxis, Inc

Heart Failure POC And LOC Devices Market Report Scope

Global Heart Failure POC And LOC Devices Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global heart failure POC and LOC devices market based on test type, technology, end use, and region:

• Test Type Outlook (Revenue in USD Million, 2018 - 2030)

  • Proteomic Testing

  • Metabolomic Testing

  • Genomic Testing

• Technology Outlook (Revenue in USD Million, 2018 - 2030)

  • Microfluidics

  • Array-based Systems

  • Others

• End Use Outlook (Revenue in USD Million, 2018 - 2030)

  • Clinics

  • Hospitals

  • Home

  • Assisted Living Healthcare Facilities

  • Laboratory

• Regional Outlook (Revenue in USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Thailand

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait