Increase in the prevalence of cardiac diseases and collaborations for product launches are key factors responsible for high CAGR of cardiac biomarkers market.
Market Size: USD 7.10 billion in 2019
Growth Rate: 10.4%
Market Trends: Product launches and R&D for cardiac biomarkers.
The global cardiac biomarkers market is predicted to escalate at a substantial 10.4% CAGR and reach USD 14.29 billion by 2026 from USD 6.44 billion in 2018. According to the Center for Disease Control and Prevention (CDC) about 655,000 people die due to heart diseases every year in the U.S., and 1 in every 4 deaths occurs due to heart diseases.
Cardiovascular Diseases (CVDs) are the leading cause of death globally and account for around 9.6 million deaths in the year 2018. According to WHO, 31% of the total deaths result from CVDs either due to heart attacks or stock due to immense alcohol abuse, physical inactivity, or improper diet. Common symptoms associated with heart diseases are immense pain and discomfort in the neck, chest pains, arms sweating and shortness of breath.
The risk of cardiovascular diseases has been shown to be reduced by the cessation of tobacco use, reduction in dietary salt, extended consumption of fruits and vegetables, regular exercise and physical activity and complete reduction of alcohol consumption.
Cardiac biomarkers are endogenous-based substances released into the blood when the heart muscles are stressed or damaged. They have biochemical properties that act as an indicator for the severity of the heart condition. These biomarkers help to diagnose various cardiovascular diseases like Ischemia, Acute Coronary Synonym (ACS), Acute Myocardial Infarction (AMI), and Congestive Heart Failure (CHF) and many others associated to insufficient blood flow.
The rising number of patients with cardiovascular dysfunctions and growing demand for POC cardiac testing kits are assumed to fuel the growth of the cardiac biomarkers market. High operational costs related to the manufacturing process, stringent clinical trial guidance, and regulatory challenges are significant restrains to the market.
Some of the leading manufacturers are making product development changes to mitigate market risks and increase the market growth.
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- Asia Pacific is the fastest expanding region with a CAGR of 3% due to high cognizance regarding biomarkers and rise in elderly residents and CVD cases.
- The European region holds the second largest market share of around 28.5% with increasing incidences of cardiovascular dysfunctions in countries like France and Ireland.
- North America is predicted to hold a market share of 40.1% due to improved technology, affordability for advanced cardiac treatments.
- Increasing demand for prompt monitoring of patients by doctors and clinicians is expanding the market for care testing type sector. It is estimated to grow with the fastest CAGR.
- NT-proBNP is the second leading sector with a market share of 27.6% due to maximum usage and high accuracy rate to detect Congestive heart failure.
- The Myocardial Infraction sub-segment holds the second-largest market share of USD 2123.6 million. The main reason is due to the growing population of people involved in smoking and alcohol consumption.
- Key Participants in the cardiac biomarkers market include Alere Inc., Abbott Laboratories, and Roche Diagnostics Corporation.
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For the purpose of the study, Reports and Data has segmented the Global Cardiac Biomarkers Market on the basis of product type, location of testing type, application, and regional outlook:
Product Type Outlook (Revenue, USD Million; 2017–2027)
- Myocardial muscle Creatine Kinase (CK-MB)
- Ischemia Modified Albumin (IMA)
- Brain Natriuretic Peptide (BNPs) or NT-proBNP
- Troponins (T and I)
Location of Testing Outlook (Revenue, USD Million; 2017–2027)
- Point of Care Testing
- Laboratory Testing
Application Outlook (Revenue, USD Million; 2017–2027)
- Congestive Heart Failure
- Myocardial Infarction
- Acute Coronary Syndrome
End-User Outlook (Revenue, USD Million; 2017–2027)
- Hospitals and Clinics
- Diagnostic Laboratories
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Regional Outlook (Revenue, USD Million; 2017–2027)
- Rest of Europe
- Rest of Asia Pacific
Middle East and Africa (MEA)
To Identify the Key Trends in the Industry, Click on the Link Below:
Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Rising prevalence of cardiovascular diseases
3.2. Increasing incidences of cardiac biomarkers
3.3. Increasing regulatory approval of new biomarkers
Chapter 4. Cardiac Biomarkers Segmentation & Impact Analysis
4.1. Cardiac Biomarkers Segmentation Analysis
4.2. Cardiac Biomarkers Market Value Chain Analysis, 2016-2026
4.3. Regulatory framework
4.4. Cardiac Biomarkers Market Impact Analysis
4.4.1. Market driver analysis
188.8.131.52. Growing Application Of Point Of Care (POC) Testing
184.108.40.206. Great Accuracy
220.127.116.11. Demand For Multi-Assay Biomarkers
4.4.2. Market restraint analysis
18.104.22.168. Lack Of Full Proof Assurance
22.214.171.124. High Manufacturing Cost
4.5. Key opportunities prioritized
4.6. Cardiac Biomarkers Pricing Analysis
4.7. Industry analysis – Porter’s
4.8. Cardiac Biomarkers PESTEL Analysis
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