POCT (Point of Care Testing) Cardiac Disease Market Opportunities and Strategies to 2033

This report describes and explains the POCT (point of care testing) cardiac disease market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global POCT (point of care testing) cardiac disease market reached a value of nearly $1.8 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6.11% since 2018. The market is expected to grow from $1.8 billion in 2023 to $2.6 billion in 2028 at a rate of 8.12%. The market is then expected to grow at a CAGR of 6.60% from 2028 and reach $3.6 billion in 2033.

Growth in the historic period resulted from the expansion of healthcare infrastructure, increasing adoption of portable and wearable devices and growing demand for home healthcare. Factors that negatively affected growth in the historic period include low healthcare access in developing countries and economic uncertainties or downturns.

Going forward, the rising healthcare expenditure globally, increasing aging population worldwide, rising incidence of cardiovascular diseases, favorable government initiatives and increased patient awareness about heart health will drive the growth. Factor that could hinder the growth of the POCT (point of care testing) cardiac disease market in the future include a lack of trained healthcare professionals.

The POCT (point of care testing) cardiac disease market is segmented by type into digital apps (healthcare solutions) and small specimen devices. The small specimen devices market was the largest segment of the POCT (point of care testing) cardiac disease market segmented by type, accounting for 69.78% or $306.09 million of the total in 2023. Going forward, the digital apps (healthcare solutions) segment is expected to be the fastest growing segment in the POCT (point of care testing) cardiac disease market segmented by type, at a CAGR of 12.37% during 2023-2028.

The POCT (point of care testing) cardiac disease market is segmented by end-user into hospitals, diagnostic laboratories and other end-users. The hospitals market was the largest segment of the POCT (point of care testing) cardiac disease market segmented by end-user, accounting for 51.98% or $228.03 million of the total in 2023. Going forward, the other end-users segment is expected to be the fastest growing segment in the POCT (point of care testing) cardiac disease market segmented by end-user, at a CAGR of 11.97% during 2023-2028.

North America was the largest region in the POCT (point of care testing) cardiac disease market, accounting for 41.74% or $748.28 million of the total in 2023. It was followed by Asia-Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the POCT (point of care testing) cardiac disease market will be Asia-Pacific and Africa, where growth will be at CAGRs of 10.38% and 9.97% respectively. These will be followed by the Middle East and South America, where the markets are expected to grow at CAGRs of 9.66% and 8.84% respectively.

The global POCT (point of care testing) cardiac disease market is fragmented, with a large number of players operating in the market. The top ten competitors in the market made up to 6.37% of the total market in 2023. Wondfo Biotech Co. Ltd. was the largest competitor with a 1.12% share of the market, followed by Siemens Healthineers AG with 1.10%, QuidelOrtho Corporation with 0.95%, F. Hoffmann-La Roche Ltd. with 0.84%, Abbott Laboratories with 0.54%, OraSure Technologies Inc. with 0.52%, Hologic Inc. with 0.52%, Thermo Fisher Scientific Inc. with 0.41%, SARSTEDT AG & Co. KG with 0.38% and Nova Biomedical Corporation with 0.36%.

The top opportunities in the POCT (point of care testing) cardiac disease market segmented by type will arise in the small specimen devices segment, which will gain $499.34 million of global annual sales by 2028. The top opportunities in the POCT (point of care testing) cardiac disease market segmented by end-user will arise in the hospitals segment, which will gain $466.07 million of global annual sales by 2028. The POCT (point of care testing) cardiac disease market size will gain the most in the USA at $251.59 million.

Market-trend-based strategies for the POCT (point of care testing) cardiac disease market include increase in approvals of point-of-care test that deliver fast cardiac troponin results, launch of new point-of-care tests for heart failure, advanced point-of-care testing devices to revolutionize health diagnostics and mergers and acquisitions to strengthen market position.

Player-adopted strategies in the POCT (point of care testing) cardiac disease market include focus on new product developments to expand business expertise, expanding business through new product launches and expanding business through new acquisition and merger deals.

To take advantage of the opportunities, the analyst recommends the POCT (point of care testing) cardiac disease companies to focus on rapid testing innovations, focus on targeted heart failure testing, focus on comprehensive testing solutions, focus on digital healthcare solutions, expand in emerging markets, focus on strategic mergers and acquisitions, focus on competitive pricing strategies, focus on targeted marketing campaigns, focus on educational initiatives and focus on other end-users segment.