Heart Attack Diagnostics Market Size 2021-2028- Rising Global Prevalence Of Coronary Artery Disease Is A Key Revenue Growth Driving Factors

Rising prevalence of coronary artery disease and increasing technological advancements in cardiovascular diagnostics are key factors driving market growth

The global heart attack diagnostics market size is expected to reach USD 21.36 Billion in 2028 and register a CAGR of 7.9% over the forecast period, according to the latest report by Reports and Data. Rising prevalence of Coronary Artery Disease (CAD) and increasing technological advancements in cardiovascular diagnostics are some key factors expected to drive market revenue growth over the forecast period. In addition, various lifestyle factors such as obesity, excessive alcohol drinking and tobacco smoking habits, and sedentary lifestyle are contributing to development of various heart conditions, specifically coronary artery disease, heart attack, and stroke, which are also expected to contribute to revenue growth of the market going ahead.

In addition, recent technological advancements in diagnostic imaging techniques is expected to drive growth of the market. Availability of multiple imaging modalities are enabling healthcare professionals to accurately evaluate patients suspected of having coronary ischemia. Various imaging techniques such as stress echocardiography, stress electrocardiography, myocardial perfusion imaging, and Magnetic Resonance Imaging (MRI) among others, is significantly improving patient outcomes by providing both anatomical and functional information of coronary stenosis. Computed Tomography Angiography (CTA) with perfusion, whole-heart magnetic resonance angiography, and CT fractional flow reserve are evolving diagnostic pathway, which has also been increasingly incorporated into routine clinical practice for diagnosing patients with CAD, and this is expected to further drive market growth over the forecast period. 

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Increasing application of Artificial Intelligence (AI) in cardiovascular imaging is expected to propel market growth going ahead. AI algorithms are showing significant progress in time consuming cardiovascular imaging tasks such as anomaly detection, imaging segmentation, and patient selection. Thus, the application of AI may significantly reduce costs and improve value at all stages of decision making, image acquisition, and interpretation. However, lack of favorable reimbursement scenario is expected to restrain market growth to a certain extent over the forecast period.

Some Key Highlights From the Report:

  • In March 2021, Koninklijke Philips N.V. announced the launch of AI-enabled Precise Suite solution for the company’s incisive CT platform. The new technology provides smart workflows by utilizing AI-enabled image reconstruction technology, facilitates automated patient positioning, and enables motion-free cardiac image capture, thereby enabling healthcare professionals to gain real-time interventional guidance, improve operational efficiency, and provide quality care.
  • Electrocardiogram (ECG) segment is expected to account for largest revenue share during the forecast period, attributable to increasing use of ECG diagnostic procedures in the diagnosis of cardiac conditions such as arrhythmia, congenital heart defects, and coronary occlusion, among others.
  • Hospitals segment is expected to lead in terms of revenue share over the forecast period owing to growing number of transcatheter structural heart surgery and coronary artery bypass grafting procedures performed in hospitals to diagnose and treat coronary artery disease.
  • Non-invasive segment is expected to register robust revenue growth over the forecast period owing to increasing adoption of technologically advanced non-invasive diagnostic imaging modalities for providing real-time visualization of arterial wall and high-resolution image for accurate diagnosis of coronary artery disease.
  • North America is expected to account for largest revenue share over the forecast period, attributable to increasing global elderly population, increasing demand for advanced diagnostic imaging techniques, and rising investment in R&D activities for improving identification and screening of heart diseases and contribute to improved diagnosis and facilitate targeted treatment.
  • Major players in the market include Schiller AG, Siemens Healthineers AG, GE Healthcare Inc., F.Hoffman La-Roche Ltd., Midmark Corporation, Koninklijke Philips N.V., Hitachi Ltd., AstraZeneca PLC, Welch Allyn Inc., and Canon Medical Systems Corporation.

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For the purpose of this report, Reports and Data has segmented the global heart attack diagnostics market on the basis of test type, procedure, end-use, and region:

Test Type Outlook (Revenue, USD Billion; 2018-2028)

  • Electrocardiogram
  • Blood tests
    • Troponin
    • Creatine Kinese MB (CK-MB)
    • C-Reactive Protein (CRP)
    • Brain Natriuretic Peptide (BNP)
    • Other Blood Tests
  •  Coronary Catheterization
  • Cardiac Computed Tomography
  • Exercise Stress Tests
  • Others

Procedure Outlook (Revenue, USD Billion; 2018-2028)

  • Invasive
  • Non-Invasive

End-Use Outlook (Revenue, USD Billion; 2018-2028)

  • Hospitals
  • Ambulatory Surgical Centers
  • Diagnostic Centers
  • Others

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Regional Outlook (Revenue, USD Billion; 2018-2028)

  • North America
    • U.S.
    • Canada
    • Mexico
  •  Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    •  Sweden
    • Rest of Europe
  • Asia Pacific
    • China 
    • India
    • Japan
    • South Korea
    • Rest of APAC
  • Latin America
    •  Brazil
    • Rest of LATAM
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
    • Israel
    • Rest of MEA     

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Some points on how the report benefits stakeholders:

  • The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
  • Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028. 
  • The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
  • The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
  • Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
  • The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.

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