The global point-of-care cholesterol monitoring device market is set to experience substantial growth, with projections indicating a rise from USD 440.6 million in 2022 to USD 514.7 million by 2028. According to a comprehensive survey conducted by Future Market Insights (FMI), the market is expected to register a compound annual growth rate (CAGR) of 2.6% over the forecast period.
Driving Market Expansion:
The accelerating prevalence of chronic diseases such as diabetes, cardiovascular disorders, and dyslipidemia is a major driver of this market expansion. The increasing incidences of obesity and cardiovascular ailments worldwide have led to a growing demand for efficient cholesterol testing solutions. Point-of-care cholesterol monitoring devices provide rapid, accurate results, addressing the need for effective healthcare diagnostics at the point of patient care.
“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 offer healthcare providers and patients timely insights, facilitating prompt medical interventions and improving health outcomes.”
Technological Advancements and Preventive Healthcare:
The integration of advanced technologies in healthcare, coupled with initiatives promoting preventive healthcare measures, is further bolstering the demand for point-of-care cholesterol monitoring devices. These devices empower healthcare professionals to perform on-the-spot testing, enhancing patient convenience and treatment efficacy.
Challenges and Market Constraints:
Despite the positive outlook, there are challenges impacting market growth. Concerns regarding accuracy and reliability, as well as regulatory hurdles, pose potential restraints. Point-of-care tests may not always match the accuracy of laboratory tests, and user errors can lead to result fluctuations. Additionally, stringent regulations for new device approval can cause delays and limit device variety, making healthcare providers and patients cautious in adopting these technologies.
Discover Market Trends: Access the Full Point-of-care Cholesterol Monitoring Device Market Report
Competitive Landscape:
The market for point-of-care cholesterol monitoring devices is dominated by a few major players, who frequently engage in strategic partnerships, product launches, and acquisitions to enhance their market presence. Recent developments include:
- In November 2019, ACON Laboratories, San Diego, CA, launched the On Call® Extra Mobile Glucose Monitoring Systems in Europe and Latin America.
- In April 2020, PTS Diagnostics partnered with MedPro Healthcare Sales Solutions, a leading healthcare contract sales organization.
Key Companies:
The market features several prominent companies, including:
- F. Hoffmann-La Roche Ltd.
- Abbott Laboratories
- Abaxis, Inc. (a subsidiary 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. (a subsidiary of Danaher Corporation)
- SAMSUNG HEALTH CARE, Inc.
Market Segmentation:
The point-of-care cholesterol monitoring device market is segmented as follows:
- By Product: Instruments (Table-top Analyzers, Hand-held Analyzers), Testing Kits
- By Technology: Electrochemical Biosensor, Reflectance Photometry
- By Application: Dyslipidemia, Atherosclerosis, Hypercholesterolemia, Hypocholesterolemia, Others
- By End User: Hospitals, Diagnostics Centers & Laboratories, Ambulatory Surgical Centers, Home Care Settings
- By Region: North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding China & Japan (APECJ), China, Japan, Middle East and Africa (MEA)
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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