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The College of American Pathologists (CAP) defines point-of-care testing as testing performed at the site or near a patient with the result leading to a possible change in the care of the patient. Lipid level in the blood can be measured by point-of-care lipid testing, which is used to measure cholesterol, low-density lipoprotein, high-density lipoprotein, and triglycerides. The amount of time consumed between diagnosis and treatment of a patient in hospitals, clinics, ambulances, and patient homes is significantly reduced with POC tests. Popularity of POCT is increasing due to timeliness, convenience, and potential to improve patient outcomes. These tests are generally based on two detection methods: antibody based and microbial particle based. A health care professional or a nurse performs the test, analysis is performed, and lastly the results are recorded. Tests include lateral flow immunochromatography, enzyme-linked immunosorbent assays (ELISA), and agglutination test.

The health care industry has witnessed a major change in the past few years due to emerging technological innovations including biosensors, lab-on-a-chip, smartphone apps, and other wearable devices, contributing to a closer connection with the patient- point-of care technologies due to which it is becoming a part of the transformational healthcare landscape. Increase in geriatric population, rise in prevalence of cardiovascular and diabetic diseases, and increased health care awareness are the major drivers of the market. Other factors augmenting the market are recent technological advancements, user-friendliness, and accuracy. Unhealthy and sedentary lifestyle habits are anticipated to provide new entrants with a wider user group. Improved technology, lab automation to provide cheaper, accurate, and high quality results, and increased home care facilities with rapid and effective diagnostic results also contribute to the growth of the point-of care lipid testing market. Rapidly increasing cost of POC lipid testing and stringent and time-consuming ambiguous regulatory frameworks are expected to hamper market growth during the forecast period. Rural locations with limited lab services and shortage of trained laboratory workers present an opportunity for new entrants in developing countries.

Based on product type, the POC lipid testing market has been segmented into consumables and instruments. In terms of application, the market has been segmented into hypertriglyceridemia, hyperlipoproteinemia, Tangier disease, hyperlipidemia, familial hypercholesterolemia, and others. Based on end-user, the POC lipid testing market has been segmented into hospitals, clinical diagnostic laboratories, and home care settings.

POC lipid testing consumables are inexpensive, easy to handle, and primarily used by the geriatric population, triggering the growth of POC lipid testing in homecare setting due to which this segment is anticipated to grow significantly. The hospitals segment is projected to account for significant share of the POC lipid testing market due to availability of trained professionals and advanced medical infrastructure. Sedentary lifestyle and high fat diet contribute to the increasing incidence of hyperlipidemia followed by hypertriglyceridemia leading to cardiovascular diseases, thus for the management of critical cardiovascular conditions the use of PoC lipid testing device is rising in hospitals.

In terms of region, the POC lipid testing market has been segmented into North America, EMEA, and Asia Pacific. According to European cardiovascular disease statistics (2017), CVD accounts for 45% of all the deaths in Europe and 35% of all deaths in the EU. Europe is anticipated to be the largest market for POC lipid testing due to high prevalence of CVD, development of hospital infrastructure, and favorable regulations. Asia Pacific is likely to be the next major market due to rapid development and increase in demand for diagnostic testing in countries such as China and India. The market is primarily dominated by established companies which has increase competition in terms of pricing, distribution partnership, and upgrade of products and technology.

Key players in the POC lipid testing market include Alere, Inc., Abaxis, Inc., Polymer Technology Systems, Roche Diagnostics, Samsung Electronics Corporation, Bio-Rad Laboratories, The Menarini Group, and Nova Biomedical.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Point Of Care Lipid Testing Market

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