Growing prevalence of cardiovascular diseases and increased focus on early disease detection is propelling industry growth.
Market Size – USD 7.10 Billion in 2019
Market Growth – CAGR of 10.4%
Market Trends – Increasing R&D expenditure in the cardiac biomarkers market.
The Global Cardiac Biomarkers Market size is expected to reach USD 15.77 Billion in 2027 from USD 7.10 Billion in 2019 at a CAGR of 10.4% during the forecast period. Market growth is driven by the high occurrence rate of CVDs (cardiovascular diseases) across the globe and the associated increased demand for POC cardiac testing kits.
Key participants in the global cardiac biomarkers market include-
Alere Inc., Roche Diagnostics Corporation, and Abbott Laboratories, among others.
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According to the CDC, nearly 610,000 people die of heart disease in the U.S annually. The numbers are gradually increasing everywhere, which, in turn, will further boost the demand for cardiac biomarkers. Cardiac biomarkers are protein-based materials, which can be used for risk stratification for numerous cardiovascular diseases, including Ischemia, Acute Myocardial Infarction, Acute Coronary Syndrome, Congestive Heart Failure, and others related with insufficient blood flow to the heart.
Rapid product development and advancement by leading companies have been propelling market growth. For instance, the FDA cleared the Healthineers high-sensitivity troponin I assay by Siemens in 2018 to speed up the time for the diagnosis of MI (myocardial infarctions). These innovations will foster the cardiac biomarkers market share through the forecast period. However, limited specificity, pharmacological & manufacturing, issues and regulatory hurdles may negatively impact market growth.
Further key findings from the report suggest:
- On the basis of product type, the brain natriuretic peptide sub-segment held a market share of nearly 27.6% on account of the high accuracy rate for detecting Congestive Heart Failure and large-scale product adoption.
- Based on location of testing, the point of care testing sub-segment is projected to witness the fastest growth rate on account of increased demand for quick monitoring of patients by clinicians and doctors.
- On the basis of application, the Myocardial Infarction (MI) segment accounts for the second-largest share of the market and is estimated to make a revenue contribution of nearly USD 2.12 Billion on account of unhealthy lifestyles and increased alcohol consumption and smoking among the populace.
- In terms of end-use, the diagnostic laboratories sub-segment is anticipated to showcase the highest growth rate over the analysis period.
- In the regional landscape, North America is forecast to hold nearly 40.1% of the global cardiac biomarkers market share through the forecast years on account of the increasing affordability of advanced cardiac treatments in the region.
- Europe is forecast to hold the second-largest share of 28.5% over the analysis period due to the rising prevalence of cardiovascular diseases in France, Ireland, and other key countries in the region.
- The Asia Pacific region is expected to register a CAGR of 3% over the projected timeframe on account of the increasing awareness regarding biomarkers, the growing aging population and an associated rise in the incidences of CVDs across the region.
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Segments covered in the report:
For the purpose of the study, the Global Cardiac Biomarkers Market has been segmented on the basis of product type, location of testing, application, end-user, and region:
Product Type Outlook (Revenue, USD Million; 2017–2027)
- Brain Natriuretic Peptide (BNPs) or NT-proBNP
- Ischemia Modified Albumin (IMA)
- Myoglobin
- Troponins (T and I)
- Myocardial muscle Creatine Kinase (CK-MB)
- Others
Location of Testing Outlook (Revenue, USD Million; 2017–2027)
- Laboratory Testing
- Point of Care Testing
Application Outlook (Revenue, USD Million; 2017–2027)
- Myocardial Infarction
- Congestive Heart Failure
- Acute Coronary Syndrome
- Atherosclerosis
- Others
End-User Outlook (Revenue, USD Million; 2017–2027)
- Diagnostic Laboratories
- Hospitals and Clinics
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- US.
- Canada
- Europe
- Germany
- UK.
- Spain
- France
- Italy
- Rest of Europe
- Asia Pacific
- Japan
- China
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Middle East and Africa (MEA)
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Table of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
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
4.4.1.1. Growing Application Of Point Of Care (POC) Testing
4.4.1.2. Great Accuracy
4.4.1.3. Demand For Multi-Assay Biomarkers
4.4.2. Market restraint analysis
Continued…….
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