LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global POC cardiovascular diagnostic market to record a revenue of more than USD 1 billion during the forecast period, according to their latest market research report.
The online marketing of POC cardiovascular diagnostics is one of the major trends being witnessed in the global POC cardiovascular diagnostic market 2018-2022. Online marketing helps end-users, who seek time-efficient tests, to obtain the requested products within a limited amount of time. Vendors are using promotional strategies, such as online marketing, to increase the accessibility to their products, which in turn drives the product sales. Online marketing strategies also help vendors minimize business setup, distribution, and operational costs.
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According to Technavio analysts, one of the key factors contributing to the growth of the global POC cardiovascular diagnostic market is the rise in geriatric population:
Global POC cardiovascular diagnostic market: Rise in geriatric population
The rise in the older adult population across the globe will drive the adoption of POC devices. This increase in population has extensive implications on the public health systems of various countries in the Americas, EMEA, and APAC, which will boost the demand for POC devices in all diagnostic areas, especially cardiovascular diagnostics.
According to a senior analyst at Technavio for research on in-vitro diagnostics, “As per CDC, by 2030, the number of US adults aged above 65 years will double to about 71 million, which is about 20% of the US population. The highest ratio was observed in Japan with 42%, which is driving the adoption rate of POC diagnostics in these regions. POC diagnosis for cardiovascular diseases is one of the focus areas of non-traditional healthcare companies as POC diagnosis provides rapid results and is increasingly being adopted by people.”
Global POC cardiovascular diagnostic market: Segmentation analysis
The global POC cardiovascular diagnostic market research report provides market segmentation by product (consumables and systems) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the consumables segment held the largest market share in 2017, contributing to over 59% of the market. Consumables are generally assays that can be used only once depending on the type of test. The segment is expected to continue to dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for around 42% share. It was followed by EMEA and APAC respectively. According to the Organization for Economic Co-operation and Development (OCED), in 2015, 2.7 million of the US population had at least one CVD condition. The region is expected to continue to dominate the market by 2022.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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