The Europe Heart Failure POC And LOC Devices Market would witness market growth of 16.2% CAGR during the forecast period (2023-2030).
The integration of artificial intelligence in POC and LOC devices is a notable trend, enhancing diagnostic accuracy and predictive capabilities. AI algorithms analyze complex datasets generated by these devices, providing insights into disease progression and personalized treatment strategies. The improvement of telehealth and remote patient monitoring is influencing the development of POC and LOC devices that can be used outside traditional healthcare settings. These technologies enable patients to monitor their heart health at home, fostering early detection of deterioration and reducing hospital admissions.
Multiplexed assays on POC and LOC devices allow simultaneous measurement of multiple biomarkers, providing a comprehensive patient's cardiac status profile. This trend aligns with the need for a holistic understanding of heart failure and facilitates personalized treatment approaches. Collaborations between technology developers, pharmaceutical companies, and healthcare providers are becoming increasingly common. These partnerships desire to leverage the strengths of each stakeholder to accelerate the development and adoption of POC and LOC devices in heart failure management.
European countries' Governments and health agencies often support initiatives to improve healthcare outcomes. Funding support for research and development and initiatives focused on cardiovascular health. According to Eurostat, diseases of the circulatory system are the leading cause of death in the EU, responsible for almost one-third (32.7 %) of all deaths in 2020. Europe is experiencing a notable increase in the prevalence of circulatory system diseases, including heart failure. Demographic shifts, an aging population, and lifestyle changes contribute to the growing burden of cardiovascular conditions, necessitating advanced diagnostic tools. Therefore, the factors mentioned above will propel the market growth in this region.
The Germany market dominated the Europe Heart Failure POC And LOC Devices Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $16,864.5 Thousands by 2030. The UK market is exhibiting a CAGR of 15.3% during (2023 - 2030). Additionally, The France market would experience a CAGR of 17.1% during (2023 - 2030).
Based on Test Type, the market is segmented into Proteomic Testing, Metabolomic Testing, and Genomic Testing. Based on End Use, the market is segmented into Clinics, Hospitals, Laboratory, Assisted Living Healthcare Facilities, and Home. Based on Technology, the market is segmented into Microfluidics, Array-Based Systems, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Heart Failure POC And LOC Devices Market will Hit $252.9 Million by 2030, at a CAGR of 16.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Siemens Healthineers AG (Siemens AG), Danaher Corporation, F. Hoffmann-La Roche Ltd., BioMerieux S.A., QuidelOrtho Corporation, Trinity Biotech Plc, Jant Pharmacal Corporation, Abaxis, Inc. (Zoetis Services LLC) and Werfen, S.A.
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