SEATTLE, April 16, 2021, (MEDGADGET) — Cardiac POC testing is a point-of-care diagnostic test that is carried out to diagnose heart-related disease. This test involves the detection of cholesterol and blood coagulation. This diagnosis helps physicians to determine the risk of developing thrombosis and extreme bleeding inside a blood vessel, which leads to cardiac arrest. Moreover, cardiac POC includes troponin and brain natriuretic peptide analysis tests to identify cardiovascular disorders such as coronary artery disease, myocardial infarction, and heart failure. Cardiac POC test significantly lowers the time consumed in extracting data/reports. Therefore, allowing instant patient response and effective management of cardiac diseases.
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According to the World Health Organization (WHO) 2016, one-third of ischemic heart disease cases are observed due to high cholesterol levels. An increase in cholesterol and blood coagulants in blood arteries are estimated to cause cardiac disorders. For instance, according to WHO, 2016, over 2.5 million deaths and around 29 million individuals were reported to be suffering from cardiac disorders. The cardiac POC testing device provides an easy-to-use system with the correct assessment of cholesterol levels and heart ailments.
The global cardiac POC testing market is estimated to be valued at US$ 2,104.1 million in 2017 and is expected to witness a CAGR of 7.1 % during the forecast period (2017 – 2025).
Figure 1. Global Cardiac POC Testing Devices Market Share, By Product Type (%)
Source: Coherent market insights 2017
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Growing prevalence of cardiac disorders significantly is expected to fuel the growth of the cardiac POC testing devices market
According to the FH Foundation, a patient-centered organization devoted to research and education of Familial Hypercholesterolemia (FH), 2015, 1 in 200-500 people suffered from familial hypercholesterolemia worldwide. With the increasing population, this number expected to increase in the future, thereby leading to growth in demand for testing cholesterol levels in individuals. This, in turn, is expected to propel the overall growth of the cardiac POC testing devices market. According to the World Health Organization 2013, around 33.5 million of the global population was estimated to have suffered from coronary artery disease, a major condition leading to a heart attack. The rising prevalence of cardiovascular ailments is projected to raise the demand for cardiac POC testing devices, in turn, propelling the growth of the market. Additionally, The Patient Protection and Affordable Care Act, called Obamacare, was implemented under the Hospital Readmissions Reduction Program (HRRP), by the U.S. government in 2015 to impose penalties on hospitals. According to the penalty, the government had reduced up to 1-2% in the Medicare payment per patient, for hospital readmission within 30 days. This reduces the diagnosis cost, which in turn, accelerating the growth of the cardiac POC testing devices market.
Increasing purchasing power and high prevalence rate of cardiovascular disease are factors fueling the growth of the cardiac POC testing device market
The growing geriatric population, associated with high susceptibility to chronic diseases related to cardiac disorders, is the prime factor fueling the market growth. The cardiac POC testing devices market in the Asia Pacific is projected to experience rapid growth over the forecast period, owing to the increasing population and rising purchasing power of patients. Moreover, major players are adopting new strategies such as mergers and acquisitions, product launch, and medical symposium for better exposure of their products and to increase market share. This is also projected to propel the market growth. For instance, the global healthcare company, Abbott Laboratories has launched a software firmware in July 2017, which is embedded in the cardiac testing device. Moreover, Abbott Laboratories has acquired cardiac device maker, St. Jude Medical, at the stock deal of US$ 25 billion. The collaboration aims to produce a significant amount of new medical devices centered on patients suffering from cardiovascular disorders.
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