Cardiac Biomarkers Market Overview
The cardiac biomarkers market was value USD 4236.02 Million in 2019 and is expected to register a CAGR of 16.36% during the forecast period. Cardiac biomarkers are protein molecules released into the bloodstream due to cardiac injury or stress. These biomarkers could be used to identify cardiac ischemia, congestive heart failure, myocardial infarction, and acute coronary syndrome, among other cardiovascular illnesses (ACS). Cardiac biomarker testing enables doctors to assess a patient’s likelihood of developing such conditions. These tests are carried out if a patient experiences chest pain.
Cardiac Biomarkers Market Segmentation
The troponin segment dominated the cardiac biomarker type segment in 2020 and is expected to continue over the forecast period. The cardiac biomarkers market is expected to grow because of an increase in the prevalence of acute coronary syndrome and myocardial infarction and an increase in the number of congestive heart failure cases around the world. The creatine kinase is expected to expand at the fastest rate of 13.0 percent during the forecast period.
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The rise in cardiovascular disease and increased demand for biomarker tests for early diagnosis of heart failure are major factors expected to boost the growth of the global cardiac biomarkers market in the future. Myocardial infarction, congestive heart failure, atherosclerosis, acute coronary syndrome, and others are the applications that make up the market. In 2020, myocardial infarction accounted for the largest share, although congestive heart failure accounted for the fastest-growing segment with a CAGR of 12.2 percent.
Due to the reform in healthcare infrastructure, increase in healthcare spending, rise in disposable incomes, and government initiatives to prevent heart attack, the laboratory testing segment accounted for the largest in 2020 and is expected to sustain its dominance even during the forecast period. The cardiac biomarkers market within the Asia-Pacific area is anticipated to be driven by the reform in healthcare infrastructure, increase in healthcare spending, increase in disposable incomes, and government initiatives to prevent heart attack are anticipated to drive the demand. As a result, the global growth in cardiovascular illnesses (CVDs) has increased the demand for cardiac biomarkers testing to reduce the burden of heart attacks and other CVDs.
Cardiac Biomarkers Market Regional Classification
Latin America, North America, Asia Pacific, Europe, the Middle East, and Africa are the primary areas evaluated in the cardiac biomarkers business. In terms of the revenue share of the whole market, North America is expected to lead. The large illness burden resulting from North America’s high CHD prevalence, as well as the growing popularity of point-of-care diagnostics, are projected to drive demand for cardiovascular disease diagnostics.
Due to its vast population of nearly 4.2 million individuals and high prevalence of cardiovascular disorders, the Asia Pacific area is expected to increase quickly. The rise of the cardiac biomarkers vertical in the APAC area is projected to be fueled by this rapid growth.
Top companies in the global cardiac biomarkers market are F. Hoffman La Roche Ltd (Switzerland), Johnson & Johnson Services Inc (US), Abbott Laboratories (US), Novartis AG (Switzerland), Quidel Corporation (US), ACSBiomarker B.V (Netherlands), Randox Laboratories Ltd (UK), Trivitron Healthcare (India), Siemens (Germany), Thermo Fisher Scientific Inc (US), Bio-Rad Laboratories, Inc (US), Danaher Corporation (US), and Biomérieux SA (France).
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Cardiac Biomarkers Industry News
Biomarkers allow for the early detection of cardiovascular diseases and aid in preventing disorders such as myocardial infarction and acute coronary syndrome. As per the World Health Organization, CVDs claimed the lives of 17.9 million individuals in 2016, accounting for 31% of all fatalities worldwide. One of the conditions that can occur due to cardiovascular disease is myocardial infarction. It has a high rate of mortality as well as morbidity. Clinicians can assess their patients’ risk and offer appropriate treatment if they are diagnosed with cardiac problems on time. The market is likely to be driven by factors such as expanding funding from public and private organizations for R&D and technical improvements and increasing awareness about early detection using cardiovascular biomarkers amongst patients and healthcare professionals.
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