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The global Point-of-Care Cholesterol Monitoring Device Market was valued at US$ 428.8 Mn in 2021 and is expected to reach US$ 514.7 Mn by 2028, finds Future Market Insights (FMI) in a recent market survey.

Growing prevalence of target diseases like diabetes, cardiovascular diseases, and dyslipidemia is expected to be the primary factors driving the point-of-care cholesterol monitoring device market. Rising number of obesity and cardiovascular diseases leads to high blood cholesterol and lipoproteins levels, which increases the cholesterol testing requirement leading to growth of the market.

In addition, higher levels of cholesterol leads to buildup of cholesterol, fats and other substances on and around the artery walls, which is known as atherosclerosis.  This further leads to conditions like stroke and heart attack, thus, increasing the demand for point-of-care cholesterol testing.

Point-of-care cholesterol monitoring device market holds nearly 5.6% market value share of the Diagnostics Market, which is around US$ 7.6 Bn in 2021. The adoption of these point-of-care devices is an economical way, it aids in early diagnosis and reduces the risk of further complications. Thus, the demand for point-of-care cholesterol monitoring kits and device is increasing nowadays.

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Increasing CVD prevalence and a growing number of high-cholesterol cases are sustaining the demand for point of care cholesterol monitoring device worldwide. Although a growing patient population is maintaining a decent consumption rate of point of care cholesterol monitoring devices, high per test cost and tightening regulatory norms regarding medical devices launch continue to limit adoption.

FMI Analyses Key Pull Factors Translating into the Sluggish Revenue Growth of Point of Care Cholesterol Monitoring Device Market

Recently in 2017, FDA approved the SD LipidoCare System launched by SD Biosensor Inc. However, a majority of medical device manufacturers continue to face the challenges to new product launch as a set of certain evolved amendments recently designed by regulatory policies target the lack of standardization across their device portfolios. Local medical device manufacturers exclusively encounter the impediments posed by regulatory-linked issues.

More importantly, the inaccuracy of results delivered by point of care cholesterol monitoring devices still persists that makes the entire procedure less reliable and riskier. This continues to linger as a major concern restraining revenue growth of point of care cholesterol monitoring device market.

Global Point of Care Cholesterol Monitoring Device Market Taxonomy: By Product Type, Technology Type, Application Type, End User, and Region

• According to the product type analysis of point of care cholesterol monitoring device market presented in the report, testing kits are currently more popular but instruments, especially computerized, are gradually gaining ground among end users and thus end use segments.
• The technology type analysis of point of care cholesterol monitoring device market reveals that both the key technologies, i.e. electrochemical biosensor and reflectance photometry currently hold an almost equal share of the market revenue. The overall growth is however sluggish.
• Based on the application type analysis, the point of care cholesterol monitoring device market is likely to witness maximum demand for atherosclerosis patients, whereas sales of point of care cholesterol monitoring devices in the hypercholesterolemia segment is also considerable.
• End user analysis offered in the point of care cholesterol monitoring device market report uncovers considerable product consumption by diagnostic centers, diagnostic laboratories, hospitals, and ambulatory surgical centers. Lucrative adoption prospects for point of care cholesterol monitoring devices have been indicated in home care settings.
• While more than 1/3^rd of the global market revenue belongs to North America, Western Europe and APECJ remain the next two key markets for point of care cholesterol monitoring devices. The report forecasts attractive product innovation and penetration opportunities arising in MEA and Latin America for manufacturers.

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A Growing Self-testing Trend Boosts Point of Care Cholesterol Monitoring Device Demand in Home Care Settings

The point of care cholesterol monitoring device market is currently witnessing a rapid consumer shift to self-testing at home. While home testing of cholesterol level is highly convenient, it also offers the result in a matter of a few minutes. Patients are increasingly aware about the significance of early risk detection that further helps prevention of complications related to the level of cholesterol and thereby heart conditions.

The demand for point of care cholesterol monitoring devices in home care settings is thus witnessing a gradual surge in recent years, and the FMI study points to a higher yearly growth in the revenue of devices designed for home testing.

Key Manufacturing Trends Spotted in Point of Care Cholesterol Monitoring Device Market

• Advanced technology integration
• Devices with a portability feature
• Convenient applicability for home testing

Besides these prominent trends, leading industry manufacturers are investing in strategic acquisitions for a broader approach to the businesses opportunities in global landscape. Moreover, companies are concentrating on product innovation and value chain expansion with an intent to achieve enhanced market positions.

• Abbott’s acquisition of Alere Inc. has been helping the former securing a leading position in the point of care testing space, as the company through this deal expanded its global diagnostics portfolio.
• The recent M&A deal between Abaxis Inc. and Zoetis intends to broaden the manufacturing and marketing scope of point of care veterinary diagnostic instruments.
• ACON Laboratories, Inc. targets the international customer base with the recently released Mission Lipid Data Management Software.

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Competitive Landscape

Companies operating in the point-of-care cholesterol monitoring device market are consolidated by nature, with a presence of few players holding major share. These players are involved in a number of strategic alliances. The product launch and acquisition accelerates the manufacturer’s strategy to capitalize on the market share and capture the significant share of market. Some of the recent instances include:

• 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.

Global sales of MRI pulse oximeters were valued at ~US$ 29 million in 2018, and are estimated to record a Y-o-Y growth of ~2% in 2019. As per the research findings of a new study by Future Market Insights (FMI), constant technological advancements in medical devices that target improved efficiency and convenience, have been sustaining the use of MRI pulse oximeters.

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Siemens leads the packs globally, FMI offers an extensive assessment of the competitive landscape of angio suites market for 2018-2028

With an estimated incremental opportunity of more than US$ 100 million over 2018, the global revenue through sales of angio suites is likely to approach US$ 1.9 Bn in 2019. As reported by a new research intelligence study on the global angio suites market, there will be more than 6% year on year revenue growth in 2019 – reflecting a healthy outlook for the angio suites landscape at a global level.

Key Research Insights Drawn from the Report

• In a consolidated market structure, the top three companies operating in the global angio suites landscape hold a whopping revenue share of around 70%.
• Easy, fast-track FDA clearance holds vital importance in shaping the new product developments and launches.
• Innovative therapy suites and angio suites are receiving wider platforms in recent years, with growing government funds and consistently increasing voluntary funds – pushing R&D activities further.

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More than 1/4^th Share of the Market Revenue Belongs to Siemens

Siemens AG, reportedly the global leader in angio suites landscape, has been highly active in terms of innovation in recent years.

• The company had announced the launch of two products adding value to its innovative offerings in Nov 2017. Siemens Healthineers unveiled two imaging therapy suites that are intraoperative and possess multi-modality imaging capability. While interventional surgeons and radiologists are continuously striving to discover novel procedures that are highly precise yet rapid and affordable, Siemens’ Angio-MR-CT and Angio-CT therapy suites have been presented as a breakthrough innovative solution.
• Later the same year, the company entered a 10-year contractual partnership with Kingston Hospital NHS Foundation Trust over the supply of all-inclusive Managed Equipment Services (MES) to the trust for a wide range of medical imaging systems.

The other two market leaders include Philips Healthcare and GE Healthcare LLC, which are prominently concentrating on innovative product launches for global expansion and introduction of disruptive technology based systems across developing regional markets.

Explaining the most popular developmental strategies adopted by key companies in angio suites landscape, the FMI analyst says, “The strategic focus of angio suites market players is likely to remain on vertical and horizontal integration. Our research concludes that direct selling strategy is allowing companies to cater to the escalating demand for technically innovated products”. Discussing further about the growing significance of having a strong distribution network, “Key players are also prioritizing a stronger distribution network at a global level. Whereas, development of independent distribution channels for personal selling of angio suites is also identified to be one of the key trends among market players,” says the analyst.

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Segmental Analysis: Single Plane Angio Suites and Hospitals Remain Top Performing Segments

• With more than 65% share of the global market revenue, single plane angio suites continue to dominate biplane angio suites, according to the report.
• Although cath labs are likely to demonstrate impressive adoption of angio suites in the near future, hospitals remain the largest end user of angio suites.
• Currently, Asia Pacific accounts for over 45% share of the total market revenue, followed by Europe that holds around 30% share in the market value.

The report projects emergence of lucrative business opportunities in developing regional markets, besides APAC, i.e. MEA and Latin America. While the opportunity assessment of emerging regional markets for angio suites analyses the sales force expansion and third party payer coverage in the regions, remarkable reimbursement support and improving customer care are identified to be the primary factors boosting revenue growth of angio suites market in these regions. In a bid to achieve high operational efficiency, a number of companies are strategizing the shifting of their manufacturing facilities to low-cost production bases in emerging economies of Latin America and APAC.

Competitive Landscape

This section of the report features profiles of key players operating in the angio suites market based on their market share, market structure, product offerings, differential strategies, company dashboard and marketing approach. Examples of some of the key players featured in this report include GE Healthcare, Koninklijke Philips N.V., Siemens AG, Shimadzu Corporation, Canon, Inc., and others. Emerging players operating in the angio suites market are majorly focusing on new marketing strategies in order to expand their product footprint in the global angio suites market.

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Additional Questions Answered

Some of the additional questions addressed in this report on angio suites market-

• What is the revenue potential across regions of North America and Europe?
• Who are the key competitors in the market and what are their portfolios?
• What are the major challenges influencing the growth of the angio suites market?
• How is intervention from regulatory authorities shaping the market growth?

Future Market Insights (FMI), in its latest publication, outlines the future trajectory of the global nucleic acid isolation and purification market through 2029. According to the report, worldwide sales of nucleic acid isolation and purification kits were valued at ~US$ 830 million in 2018, and are estimated to register a Y-o-Y growth of ~4% in 2019. As the consistency and reliability of molecular diagnostic results relies heavily on the quality of genetic material i.e. DNA and RNA, manufacturers are focusing on offering high-quality products, ensuring improved yield and purity.

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With growing need to understand and characterize microbial diversity, including that associated with human body, governments as well as private companies are increasingly investing in life science projects, thereby creating a greater demand for nucleic acid isolation and purification. While the high cost challenge persists, shortage of skilled professionals in healthcare and biopharma industries remain the longstanding challenges.

“Rapid and efficient methods or products to extract genomic RNA and DNA from virtually any biological sample have been growing in demand to ensure the success of downstream applications in molecular biology. With growing research on detection of tumor specific changes, FMI study finds that nucleic acid isolation and purification market vendors are exploring new technologies to facilitate ease-of-use and minimize user-error of their products.”

Future market Insights’ study reveals that the nucleic acid isolation and purification market is likely to expand at a CAGR of ~5% during the period 2019-2029. One of the key influencing factors is manufacturers’ focus to direct their investments towards advanced technologies such as magnetic-bead or bead-beating technology, to align with end users’ demand for an effective system for extraction of high-quality starting material and efficient inhibitor removal. The unique challenges for extracting and purifying nucleic acid from different organisms and tissue types, have also brought more focus on customized systems and solutions.

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Advances in Microbiome Research to Dictate Manufacturers’ Growth Strategies

In comparison with RNA isolation kits, manufacturers continue to increase innovations and production of DNA isolation kits, as the category is expected to account for larger share in the market during the forecast period. As per the study, lucrative opportunities are identified in increasing application scope of DNA isolation and purification kits in various academic research institutes, contract research organizations, and biotechnologies companies to not only successfully extract the DNA but also to minimize the presence of contaminants and prevent nucleic acid degradation during preparation. As genomic and microbiome research advances, manufacturers are working on automating the nucleic acid isolation and purifications kits to recover DNA and RNA from the toughest samples used in microbiome work such as soil and stool samples.

Growth prospects of the nucleic acid isolation and purification market, as the study opines, are relatively high in developed countries of North America and Europe. Hefty investments in R&D on molecular biology and precision medicines over gradual increase in the prevalence of cancer, genetic disorders, and complex diseases are likely to influence the manufacturers to enhance their production capabilities.

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Tapping into opportunities in China and Japan for acquiring local players and increasing manufacturing facilities will provide the added advantage to gain a new customer base. As innovations zoom in, a number of market players are working on offering products that are free of toxic organic solvents and enable cost-effective method to extract and purify PCR-ready DNA or RT-PCR-ready RNA from numerous samples.

The report also offers an incisive outlook on the competitive landscape of nucleic acid isolation and purification market. As per the study, extensive M&A activities and new launches remain the key focus areas of the market players. In addition, they are emphasizing on strengthening outsourcing and solutions through strategic collaborations.