Report ID :10293939 |
Published Date : 21 Oct 2022 |
Report Format : |
Delivery Timeline :48-72 Business Hours
REPORT HIGHLIGHT
The Point of Care Lipid Diagnostics market is estimated to represent a global market of USD 210.5 million by 2017 with growth rate of 3.3%.
Market Dynamics
Point of care lipid testing is the testing of lipid content in order to improve the risk of cardiovascular disorders. Growing geriatric population coupled with rising sedentary lifestyle and unhealthy food habits are anticipated to stimulate the market growth. According to the World Health Organization (WHO), global population between the age group, 65 years and above is projected to rise from 7% in 2000 to 16% in 2050. Aging heightens the risk of chronic diseases such as cardiovascular diseases and diabetes. Lipid testing is an important parameter for monitoring variety of chronic diseases including diabetes, asthma, arthritis and other cardiovascular diseases. Increasing prevalence of such diseases is also expected to drive the market growth significantly. As per the statistics released by the WHO, patients affected with diabetes has risen from 108 million (1980) to 422 million (2014). Similarly, the International Diabetes Federation stated that around 425 million patients have diabetes globally. Growing disease incidences is projected to boost the demand for accurate, speedy and user-friendly diagnostic method, hence, driving the market growth.
Application Takeaway
The global Point of Care Lipid testing market is segmented into three levels: applications, instruments, and geography. Application segment is categorized as hyperlipidemia, hypertriglyceridemia, familial hypercholesterolemia, hyperlipoproteinemia, Tangier disease, and others. Hyperlipidemia segment has captured the large share of the total market. As per the Centres for Disease Control and Prevention, more than 78 million people suffer from abnormal cholesterol level in 2012 which is expected to increase in future years. Such facts will boost the use of point of care lipid diagnosis, leading to augment the market growth to great extent. On another hand, hypertriglyceridemia is projected to gain significant market share over the forecast period owing to the development of novel products. The instrument segment is divided into Roche Cobas b 101, Abaxis Piccolo Xpress, Roche Reflotron, Alere Cholestech LDX, Alere Afinion, Samsung LABGEO PT10, and Cardiocheck.
Regional Takeaway
Regionally, the market is categorized as North America, Europe, Asia Pacific and Rest of the World. Advancement in technologies such as the introduction of miniaturized diagnostic devices that renders rapid and accurate results such as CardioCheck Plus are anticipated to drive market growth in developed regions. Furthermore, rising demand for rapid, accurate, and sensitive diagnostic devices coupled with increasing prevalence of chronic diseases boost the market growth to some extent in these regions. Developing regions such as the Asia Pacific and Latin America is projected to grow with the significant growth rate over the forecast period owing to the increasing number of key players operating in this market and rising diabetes and cardiovascular incidences.
Key Vendor Takeaway
Samsung, Roche Diagnostics, Alere, Abaxis, Inc., and Bio-Rad Laboratories are profiled in the study. Extensive product portfolio and strategic collaborations with small-scale industry participants are considered to be the key strategies of these players. Other market leaders are also aggressively involved in new product development and expansion of distribution channels to capture a larger share of the market. Moreover, the companies are highly inclined toward maintaining competition in the market as well as delivering economic value to customers and satiate unmet demands.
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