The global Cardiac Biomarkers Market size is expected to hit around US$ 20.3 billion by 2030 and is projected to grow at a CAGR of 15.2% during forecast period 2021 to 2030.
The global Cardiac Biomarkers Market size is expected to hit around US$ 20.3 billion by 2030 and is projected to grow at a CAGR of 15.2% during forecast period 2021 to 2030.
Growth Factors
The cardiac biomarkers market is anticipated to witness a lucrative growth during the forecast period from 2016 to 2024. Analysis of global market trends focuses on the increasing demand for cardiac biomarkers owing to its increased adoption in cardiovascular disease diagnosis. Furthermore, this growth is attributed to a majority of factors, such as the high prevalence of Acute Coronary Syndrome (ACS), continual technological advancements in the development of cardiovascular biomarkers, increasing number of new product launches by the key market players, rising demand for point of care cardiac testing kits, along with the high specificity and sensitivity of these biomarkers in the detection of cardiovascular diseases, especially acute myocardial infarction.
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The cardiac biomarkers market has been classified by type into troponin, Creatine kinase-MB(CK-MB), B-type Natriuretic Peptide (BNP), and N-terminal pro b-type natriuretic peptide (NT-proBNP), myoglobin, and others. Troponin is a heteromeric protein and comprises cardiac troponin T & I, which are abbreviated as cTnT&cTnI, respectively. The troponin biomarkers segment is expected to grow lucratively in the forecast period at a significant CAGR. The diagnostic efficiency and specificity related to cardiac biomarker testing renders it a universally gold standard test to diagnose cardiovascular disorders worldwide. The market by application is segmented into acute coronary syndrome, myocardial infarction, congestive heart failure, and others. ACS is expected to be the highest grossing segment according to the study. ACS is responsible for huge medical costs globally and is responsible for most hospital readmission cases. The increasing efforts to cut down worldwide ACS prevalence rates are expected to drive the growth of the biomarkers market.
Report Highlights
The cardiac biomarkers market, by type, is classified into troponin, Creatine kinase-MB (CK-MB), Natriuretic peptides - B-type Natriuretic Peptide (BNP) &N-terminal pro-b-type Natriuretic peptide (NT-proBNP), myoglobin, and others. Troponin tests are growing into a very lucrative market owing to their benefits in the identification of AMI and their efficiency in timely and accurate diagnosis of cardiovascular disorders in comparison to the other tests, which aids in averting adverse cardiac events. On the other hand, natriuretic peptides are expected to be the second-largest segment due to its efficiency in accurately diagnosing CHF.
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The cardiac biomarkers market, by application, is segmented into ACS, AMI, CHF, and others. The cardiovascular biomarkers employed in the diagnosis of ACS are expected to form the highest-grossing segment. High ACS incidence poses an immense economic and social global burden. Americans incur an estimated amount of USD 150 billion for the treatment of ACS. Myocardial infarction, on the other hand, is expected to be the second-largest segment, which is attributable to factors, such as the increasing base of geriatric population, the prevalence of an unhealthy &sedentary lifestyle among individuals, smoking & alcohol consumption, and unhealthy food habits, inevitably leading to obesity.
The cardiac biomarkers market, by end-use, is categorized into laboratory testing and point of care (POC) testing. The rising demand for POC testing acts as a significant market driver, nurturing the growth of the cardiac biomarkers market. The increasing popularity of in the developed economies is attributed to the implementation of the Affordable Care Act in the U.S., which favored the acceptance of personalized medicine and diagnostics in this region. POC test kits are small and handy, offering ease-of-use and convenience, thus making them popular as medical equipment in the home healthcare segment.
The key regions considered in the cardiac biomarkers sector are North America, Europe, Asia Pacific, Latin America, and the Middle East &Africa. North America is estimated to dominate the market in terms of revenue share of the total market. The significant disease burden stemming from the high incidence of CHD in North America and the increasing popularity of PoC diagnostics is expected to contribute to the demand for cardiovascular disease diagnostics.
Asia Pacific region is forecasted to exhibit the fastest growth rate due to the large population of approximately4.2 billion people and the high prevalence of cardiovascular diseases in this region. This fast-paced growth is expected to drive the emergence of the cardiac biomarkers vertical in the APAC region.
Key Players
Alere, Inc., Siemens Healthcare GmbH, Roche Diagnostics, Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., and Randox Laboratories Ltd.
Market Segmentation
Cardiac Biomarkers Type Outlook
- Troponin
- CK-MB
- Natriuretic peptides - BNP and NT-proBNP
- Myoglobin
- Others
Cardiac Biomarkers Market Application Outlook
- Acute Coronary Syndrome
- Myocardial infarction
- Congestive heart failure
- Others
Cardiac Biomarkers Market End-use Outlook
- Laboratory Testing
- Point of Care Testing
Cardiac Biomarkers Regional Outlook
- North America
- Europe
- Asia Pacific
- Latin America
- MEA
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