Point of Care Lipid Test Market: Rapidly Evolving Industry…… COVID-19….


Global point of care lipid test market size is expected to reach USD 280.02 million by 2022 according to a new report by Grand View Research Inc. Growing geriatric population base, increasing global prevalence of cardiovascular diseases, and rising healthcare awareness due to patient education are the driving forces for the PoC Lipid Test industry growth during the forecast period.
Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in the midst of a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc, the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a considerable amount of funds are being put into the R&D. With multiple candidates in trial, the public and private sectors are anticipated to work in unison for the foreseeable period, until a vaccine is developed for Covid-19. The report will account for Covid19 as a key market contributor.
Furthermore, continuous efforts by the government to reduce hospital stays and curb healthcare expenditure, establishments attempting to provide effective and rapid diagnostic results, and improvement in technology with the provision of cheap and high-quality medical solutions aimed at achieving lab automation are some factors contributing to the growth of the PoC Lipid Test market.
Key players of this market include Roche Diagnostics, Abaxis Inc., Alere Inc., Samsung Electronics Corporation, and Polymer Technology Systems. 
Market players are adopting sustainability strategies like venture capital investments, novel product development, mergers, and acquisitions owing to changing economic conditions worldwide. For instance, in 2013, Samsung launched in-vitro diagnostic systems and technology in India under the brand GEO. Samsung’s LABGEOPT10 caters to the lipid testing target population in India.
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Further key findings from the study suggest:
·         Alere Cholestech LDx market was estimated at over 6,400 units in 2014 and is expected to reach over 11,000 units by 2022, growing at a CAGR of 7.8% over the forecast period. The analyzer is included in the CLIA waived test list and is certified by the Cholesterol Reference Method Laboratory Method Network (CRMLN) program and Lipid Standardization Program (LSP)
·         Global launch of Roche Cobas b 101 at the end of 2013 excluding the U.S. region and the introduction of Samsung LABGEO PT10 in the Indian market are expected to drive the point of care Lipid Test market at a lucrative rate over the next six years
·         Consumables Piccolo Express by Abaxis market was valued over 1,000 thousand units in 2014 owing to the presence of CLIA-waived capillary or venous lipid and liver panel used for monitoring statin medications results. Abaxis is the only company, which provides a venous or capillary or CLIA waived Lipid and Liver panel.
·         Hyperlipidemia is the largest application area for PoC Lipid Test industry with revenue of over USD 55 million in 2014. Whereas, hypertriglyceridemia is the fastest growing application area with the expected growth rate of 5.6% during the forecast period due to increasing incidences of hypertriglyceridemia and the introduction of technologically advanced products such as CardioChek PA by PTS Diagnostics.
·         Europe constituted the largest share of over 35% in 2014 of the total market. Presence of favorable regulations and initiatives pertaining to the development of healthcare infrastructure, and also high disease prevalence levels in the region are the major factors responsible for its growth
·         Asia Pacific accounted for over 19% share in 2014 of the total market. However, the market share of this region is estimated to increase at a CAGR of 5.8% by 2022 due to increasing demand for rapid diagnostic testing in developing countries such as India and China.
·         Some key players of this market include Abaxis Inc., Roche Diagnostics, Alere Inc., Polymer Technology Systems (PTS Diagnostics), and Samsung Electronics Corporation. Alere with its product portfolio including Alere Cholestech LDx and Alere Afinion AS100 Analyzer was the leader in the POC lipid testing market with a share of over 22% in 2014.
Global point of care Lipid Test market size was valued at USD 200.0 million in 2014. Increasing prevalence of target diseases such as cardiovascular diseases, diabetes, and dyslipidemia is identified as a key driving factor. 
The presence of favorable regulatory initiatives pertaining to diagnosis is expected to serve the point of care Lipid Test market as a high impact rendering driver. For instance, the introduction of Clinical Laboratory Improvement Amendments (CLIA) in the U.S. is expected to boost usage rates during the forecast period.
Cardiovascular diseases are one of the most fatal disorders and is the leading cause of death across the globe. Cardiovascular diseases have become the most dominant cause of mortality and morbidity in the world during the last three decades. According to a report published by the World Health Organization (WHO), cardiovascular diseases will cause approximately 23.3 million deaths by 2030. 
Growing global geriatric population base coupled with increasing awareness levels is expected to drive market growth over the next six years. Moreover, rising demand for technological advancements designed to enhance speed, accuracy, user-friendliness, and increasing market penetration rates of technologies such as self-testing handheld devices are expected to boost demand. For instance, in 2013, Polymer Technology Systems Inc. launched the advanced version of point of care multi-analyte system, CardioChek Plus analyzer. Rise in sedentary lifestyles and unhealthy lifestyle habits are expected to provide the manufacturers with a constantly widening user base.
Roche Reflotron, Roche Cobas b101, Abaxis Piccolo, Alere Cholestech LDx, Alere Afinion, Samsung LABGEO PT10, and PTS Cardiochek family of Lipid analyzers are the most used set of instruments and therefore, form the core of this study. The PoC lipid testing market by instruments was valued at over USD 142 million in 2014 and is expected to grow at a CAGR of 10.5% over the forecast period. .
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Grand View Research has segmented the global PoC Lipid Test market on the basis of instrument, consumables, application:
Global PoC Lipid Test Instrument Outlook (Revenue, USD Million, Volume, Units 2015 - 2022)
·         Roche Reflotron
·         Roche Cobas b 101
·         Abaxis Piccolo
·         Alere Cholestech LDX
·         Alere Afinion
·         Samsung LABGEO
·         PTS Cardiochek
Global PoC Lipid Test Consumables Outlook (Revenue, USD Million, Volume, Units 2015 - 2022)
·         Roche Reflotron
·         Roche Cobas b 101
·         Abaxis Piccolo
·         Alere Cholestech LDX
·         Alere Afinion
·         PTS Cardiochek
·         Samsung LABGEO
Global PoC Lipid Test Application Outlook (Revenue, USD Million, 2015 - 2022)
·         Hyperlipidemia
·         Hypertriglyceridemia
·         Familial Hypercholesterolemia
·         Hyperlipoproteinemia
·         Tangier disease
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.



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