The global point-of-care cholesterol monitoring device market is anticipated to witness robust growth, with projections indicating a rise to USD 514.7 million by 2028, up from USD 440.6 million in 2022, register CAGR of 2.6% over the forecast period. These findings come from a comprehensive survey conducted by Future Market Insights (FMI), highlighting a significant upward trajectory in market value over the forecast period.
The accelerating prevalence of chronic diseases such as diabetes, cardiovascular disorders, and dyslipidemia is a key driver propelling this market expansion. With increasing incidences of obesity and cardiovascular ailments globally, there has been a parallel increase in the demand for cholesterol testing solutions. Point-of-care cholesterol monitoring devices offer swift, accurate results, meeting the growing need for efficient healthcare diagnostics at the point of patient care.
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“Rising awareness about the importance of early diagnosis and management of cholesterol levels is fueling the adoption of point-of-care cholesterol monitoring devices,” remarked a Future Market Insights. “These devices provide healthcare providers and patients with timely insights, facilitating prompt medical interventions and improved health outcomes.”
The growing integration of advanced technologies in healthcare, coupled with initiatives promoting preventive healthcare measures, further bolsters the demand for point-of-care cholesterol monitoring devices. These devices empower healthcare professionals to conduct on-the-spot testing, enhancing patient convenience and treatment efficacy.
This factors restraining demand for point-of-care cholesterol monitoring devices:
- Concerns about Accuracy and Reliability:
- Point-of-care tests might not be as accurate or reliable as lab tests performed by professionals.
- User error by untrained users (both healthcare providers and patients) can lead to result fluctuations.
- Regulatory hurdles:
- Strict regulations for new device approval can lead to long delays in getting products to market.
- Stringent standards may limit the variety of available devices.
These factors can make healthcare providers and patients hesitant to adopt point-of-care cholesterol monitoring devices, hindering market growth.
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Competitive Landscape:
The point-of-care cholesterol monitoring device market is dominated by a small number of major players. These companies frequently form strategic partnerships, and they actively release new products and pursue acquisitions to solidify their market share. Here are some recent examples:
- In November 2019, ACON Laboratories, San Diego, CA announced the launch of On Call® Extra Mobile Glucose Monitoring Systems in Europe and Latin America.
- In April 2020, PTS Diagnostics announced that they are partnering with MedPro Healthcare Sales Solutions, a leading healthcare contract sales organization.
Key Companies Profiled:
- F.Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Abaxis, Inc. (Sub of Zoetis Inc.)
- DiaSys Diagnostic Systems GmbH
- ACON Laboratories
- PTS Diagnostics
- Bioptik Technology, Inc.
- SD Biosensor, Inc.
- Jant Pharmacal Corporation, Inc.
- Nova Biomedical Corporation.
- Beckman Coulter Inc. (Sub of Danaher Corporation)
- SAMSUNG HEALTH CARE, Inc.
Point-of-care Cholesterol Monitoring Device Market by Category:
By Product
- Instruments
- Table-top Analyzers
- Hand-held Analyzers
- Testing Kits
By Technology
- Electrochemical Biosensor
- Reflectance Photometry
By Application
- Dyslipidemia
- Atherosclerosis
- Hypercholestrolemia
- Hypocholesterolimea
- Others
By End User
- Hospitals
- Diagnostics centers & Laboratory
- Ambulatory surgical centers
- Home care sittings
By Region
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding China & Japan (APECJ)
- China
- Japan
- Middle East and Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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