Heart Failure Point of Care Devices Market Size, Share, and Industry Analysis, By Product Type (Analyzers, ECG Devices, and Others), By End-user (Hospitals, Diagnostic Laboratories, and Others), and Regional Forecast, 2024-2032

Heart failure point of care (POC) devices are designed to monitor, diagnose, and treat heart failure in patients remotely and accurately. They are typically portable and can analyze the exact conditions, providing rapid and sensitive results in a time-bound scenario.

Point of care devices can be used in various settings, including primary care and low-resource areas, to simplify the diagnosis and management of cardiometabolic diseases such as heart failure. They offer several benefits, including improved patient outcomes, enhanced patient engagement, and reduced healthcare costs.

The growth of the heart failure point of care devices market is attributed to the rising prevalence of heart failure across the globe. Heart failure is often characterized by the nonspecific symptoms, making accurate diagnosis challenging. Point of care devices can help in the timely and accurate diagnoses, which is crucial for effective management and treatment of the condition.

• For instance, according to the Journal of Cardiac Failure, around 6.7 million U.S. individuals over the age of 20 are suffering from heart failure. Furthermore, the prevalence of heart failure is projected to rise to 8.5 million individuals by 2030.

The development of these devices is crucial for addressing the growing burden of heart failure worldwide, particularly in areas where access to advanced diagnostic facilities is limited. This is significantly increasing the demand for heart failure point of care devices globally, which is expected to propel the market growth during the forecast period.

The COVID-19 outbreak led to a slight positive growth in the heart failure point of care devices market in 2020. This growth was primarily attributed to the increased adoption of telehealth, which included point of care devices to manage heart failure patients during the pandemic. Moreover, the point of care devices such as ultrasound devices were highly utilized for diagnosis of complications associated with COVID-19 in 2020.

• For instance, as per the article published by American Heart Association, Inc. in July 2020, point of care ultrasound devices were used in patient rooms to diagnose suspected COVID-19-related cardiac complications, further emphasizing the increased demand for point of care devices during the pandemic. This surged the market growth in 2020.

Segmentation

Key Insights

The report covers the following key insights:

• Prevalence of Key Diseases, By Key Countries/Region, 2023


• Key Industry Developments By Key Players


• New Product Launches, By Key Players


• Regulatory Overview of Spinal Surgeries By Key Countries/Regions


• Impact of COVID-19 on the Market  

Analysis by Product Type

Based on product type, the market is divided into analyzers, ECG Devices, and others. The analyzers segment is projected to account for a significant share of the global heart failure point of care devices market during the forecast period. Cardiac biomarker analyzers are devices used to measure and detect the cardiac biomarkers in a patient's blood sample. These allow for rapid testing and results at the patient's bedside or in the emergency department. These devices enable faster diagnosis and treatment decisions compared to the other traditional laboratory testing. This is expected to increase the adoption of analyzers, fueling market growth in the coming years.

On the other hand, the ECG devices segment is projected to expand at a significant CAGR during the forecast timeframe. The ability of these devices to perform echocardiography at the bedside, including in intensive care environments, makes it an indispensable tool for the management of heart failure patients. This is propelling their adoption, offering greater convenience, which is expected to boost segmental growth in the coming years. Furthermore, risk factors such as growing tobacco users, alcohol consumption, and other unhealthy habits of individuals globally are leading to an increase in heart failure cases. This is expected to boost the utilization of ECG devices, driving segmental growth in the forthcoming years.

• For instance, as per the data published by the World Health Organization (WHO) in July 2023, the low-and middle-income countries accounted for approximately 80.0% of the tobacco users worldwide.

Regional Analysis

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The global market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is expected to hold a significant share of the heart failure point of care devices market during the forecast period. The growth is primarily attributed to the growing adoption of unhealthy lifestyle habits of individuals, such as diet, smoking, heavy alcohol consumption, and illegal drug use in the region.

• For instance, according to the survey by the National Institute on Alcohol Abuse and Alcoholism (NIAAA) in 2022, nearly 221 million people (adults aged 12 years and above) in the U.S. consumed alcohol at some point in their lifetime.

These unhealthy habits are increasing the risk of heart failure in the region, driving the demand for heart failure point of care devices. Furthermore, in order to overcome the high burden of heart failure in the region, several key players are focusing on the diversification of their portfolios, which is expected to boost the regional market growth.

Asia Pacific is projected to grow at a significant CAGR during the forecast timeframe. The growing awareness of heart failure is increasing the demand for early detection of such conditions in the region. This is expected to increase the utilization of point of care devices in the region. Furthermore, the large number of patient pools in the region represents a significant opportunity for key players to enter the Asia Pacific market with new products. This is expected to spur the market growth in the coming years.

Key Players Covered

The market consists of significant players, such as Abbott, Siemens Healthcare Private Limited, Baxter, Medtronic, Koninklijke Philips N.V., Murata Vios, and Danaher. The increasing focus of these players on new product launches has been fueling their revenue growth.

Key Industry Developments

• In May 2024, OMRON Healthcare, Inc. collaborated with AliveCor, Inc. to launch portable ECG monitoring devices in India.


• In January 2024, Medtronic partnered with Cardiac Design Labs to launch an external loop recorder (ELR) patch designed for comprehensive, long-term heart monitoring and diagnosis.


• In December 2022, Ultromics Limited announced that it had received FDA clearance for its EchoGo heart failure, an artificial intelligence (AI)-based platform. This enabled the precise detection of heart failure with preserved ejection fraction (HFpEF).