Creatine Kinase Market Size to Grow Substantially Over 2020-2027
The research report on ‘global Creatine Kinase market’ covers vital aspects like current market share and industry size, technological trends as well as projected remuneration over 2020-2027. The study scrutinizes the prevalent restraints and growth opportunities, alongside various updates pertaining to COVID-19 outbreak on the business outlook.
Growing patient population suffering from myocardial infarction, favorable reimbursement scenario and increasing healthcare expenditure & funding are the few factors responsible for high CAGR of the market over the forecast period. For instance, according to the Centers for Medicare & Medicaid Services (CMS), the national health expenditure was estimated around 4.8% in 2019, an increase from 4.4% growth in 2018, and to reach almost USD 3.8 trillion. Also, as per Statista, the public health expenditure in India was about 1.58 trillion Indian rupees in 2018. This factor would boost the demand for Creatine Kinase in the global market thereby, aiding to the market growth in the forthcoming years.
Creatine kinase (also referred as phosphocreatine kinase or creatine phosphokinase), is a protein enzyme, which is recognized through different types tissues and cell. Creatine kinase catalyzes the transformation of creatine and uses adenosine triphosphate (ATP) to produce phosphocreatine (PCr) and adenosine diphosphate (ADP). Creatine kinase enzyme reaction is revocable, and thus, ATP can be produced from ADP and PCr. It is usually found in skeletal muscles and heart and in smaller amounts in the brain. It works with bones to move and give strength and power to the individual's body.
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Furthermore, rapid launch of novel creatine kinase reagents to enhance the creatine kinase testing is further contemplating the market growth around the world. With the disruption in product supply chain because of COVID-19 crisis, several leading suppliers are under lockdown to prevent the spread of novel coronavirus therefore, the industry is recently faced several significant challenges with concerns to ramping up the manufacturing facilities to reduce the risk of supply shortage. Thus, this factor is expected to create a major obstacle to market growth in the recent year. However, un favorable regulatory guideline for product approval in some of the developed and developing nations is always being considered as one of the major restraining factors to the market growth during the forecast period of 2020-2027.
Global Creatine Kinase Market Competitive Landscape Analysis (Revenue, USD billion, 2020-2027)
- Beckman Coulter Inc.
- F. Hoffmann-La Roche AG
- Abbott Laboratories
- Siemens Healthcare AG
- LSI Medicine Corp.
The regional analysis of global Creatine Kinase market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of strong and advanced healthcare facilities, coupled with increasing product launch of new creatine kinase reagents testing kits in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027, due to growing healthcare expenditure in the countries such as China and India.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market.
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Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Global Creatine Kinase Market Regional Analysis (Revenue, USD billion, 2020-2027)
- Rest of Europe
- South Korea
- Rest of Asia Pacific
Rest of the World
COVID-19 Detection Kits Market Size By Product, By Specimen Type, By End-use, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
The COVID-19 detection kits market is projected to experience a remunerative growth phase over the coming years due to rising coronavirus cases across the globe, and the undertaking of extensive efforts towards the containment of the pandemic. Currently, value and demand for COVID-19 detection kits is continuously rising owing to ongoing industry efforts towards the innovation of more effective detection kits. In fact, the resulting advancements in healthcare technologies is effectively helping the fight towards controlling the spread of novel coronavirus. One of the major factors responsible for helping control the spread of the infection worldwide is testing.
Considering the rapid spread of the virus, containing it is calling for the tests to be more accurate and rapid. Recently, in September 2020, researchers in Boston reportedly developed a novel rapid test to detect COVID-19 in less than one hour, with the need of minimum equipment. Further, the new test can also detect a higher number of cases in comparison to the traditional COVID-19 diagnostic.
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