Global Point-of-Care Cholesterol Monitoring Device Market Set to Expand, Surpassing US$ 514.7 Million by 2028

The global point-of-care cholesterol monitoring device market is poised for substantial growth, projected to reach US$ 514.7 Million by 2028, according to a recent survey conducted by Future Market Insights (FMI). This marks a significant increase from its value of US$ 440.6 Million in 2022.

The surge in market growth is attributed to the escalating prevalence of target diseases such as diabetes, cardiovascular diseases, and dyslipidemia. As the incidence of obesity and cardiovascular ailments rises, so does the need for cholesterol testing, propelling the demand for point-of-care cholesterol monitoring devices.

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Elevated cholesterol levels contribute to the buildup of cholesterol, fats, and other substances along artery walls, leading to atherosclerosis and potentially fatal conditions like stroke and heart attack. Consequently, there is a heightened demand for point-of-care cholesterol testing to facilitate early diagnosis and mitigate the risk of complications.

Accounting for approximately 5.6% of the Diagnostics Market, valued at around US$ 7.6 Billion in 2021, the point-of-care cholesterol monitoring device market is gaining traction due to its cost-effectiveness and ability to enable early diagnosis, thereby reducing the likelihood of further health complications.

In response to this growing demand, leading market players are focusing on enhancing their product portfolios by introducing technologically advanced testing kits and devices. For instance, DiaSys unveiled the LDL-c direct FS in May 2021, a novel homogeneous assay for the direct determination of LDL-cholesterol (LDL-C).

The market is projected to witness a steady rise in sales, with a Compound Annual Growth Rate (CAGR) of 2.6% through 2028, driven by the introduction of innovative technologies and the increasing awareness regarding the importance of cholesterol monitoring for preventive healthcare.

As the global Point-of-Care Cholesterol Monitoring Device Market continues to expand, stakeholders are urged to capitalize on emerging opportunities and contribute to the advancement of healthcare through accessible and efficient cholesterol management solutions.

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)

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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