Cardiac Biomarker Diagnostic Test Kits Market to Reflect Steady Growth Rate by 2028 | Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories

Market Value and Forecast

The global cardiac biomarker diagnostic test kits market is expected to be worth US$ 2,540.8 Mn in 2028, and is projected to increase at a CAGR of 5.1% through 2028. North America is expected to be a dominant market, which accounted for US$ 522.5 Mn in 2017, and is expected to grow at a CAGR of 4.3%.

Key Insights

Troponin biomarkers among all the cardiac biomarker diagnostic test kits are more sensitive, hence they are mostly preferred by the medical professionals for the diagnosis of cardiovascular diseases.

Chest pain is a common emergency department (ED) presentation accounting for 8–10 million visits per year in the U.S., among which 20% of patients are diagnosed with the help of cardiac biomarker diagnostic test kits for cardiovascular diseases.

Adoption of BNP test kits is growing in the global cardiac biomarker diagnostic test kits market due to rising incidence of heart failure, where BNP cardiac biomarker diagnostic test test kits are mostly preferred for the detection of heart failure.

Assay-based cardiac biomarker diagnostic test is most often performed at diagnostic laboratories, hence the end-use segment it estimated to gain maximum value share in the cardiac biomarker diagnostic test kits market.

India is expected to grow at a significant rate in the APECJ cardiac biomarker diagnostic test kits market among all the countries, as approximately 3.1% adult population in India is suffering from angina pectoris due to obesity.

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Cardiovascular diseases (CVDs) constitute the second leading cause of deaths in France, accounting for 27% of the 535,000 deaths in 2011. Thus, increasing prevalence of CVDs is expected to contribute to the growth of the cardiac biomarker diagnostic test kits market in France.

Approximately, 6.5% adult population is suffering from angina pectoris due to obesity in China, which consequently is expected to lead to robust growth of the cardiac biomarker diagnostic test kits market in China.

MEA is expected to witness sluggish growth owing to less adoption of cardiac biomarker diagnostic test kits for the diagnosis of cardiovascular disease and lack of awareness regarding their benefits among the general population.

Factors and Trends Impacting the Growth of the Market

The per capita healthcare expenditure is currently following an uptrend across both developed and developing economies, which is expected to increase the need for quality patient care treatment options and ultimately increase the demand for cardiac biomarker diagnostic test kits. The rising demand for lab diagnostics for detection of cardiovascular diseases throughout the globe has led the manufacturers to launch their cardiac biomarker diagnostic test kits across various geographies. Inorganic strategies are contributing to the revenue growth of the participants operating in the cardiac biomarker diagnostic test market—a well noted phenomenon in developed markets, e.g., the acquisition of Alere Inc. by Abbott Laboratories.

This inorganic growth strategy followed by the key players in the cardiac biomarker diagnostic test kits market has led to a stiff competition among the existing players. Heart attack has become a global issue, affecting more than 26 million people throughout the globe. The prevalence of heart failure is increasing rapidly due to rising geriatric population throughout the globe, which will ultimately increase the demand for cardiac biomarker diagnostic test kits. On the other hand, less availability of cardiac biomarker diagnostic test kits to diagnose strokes is expected to deter the growth of the cardiac biomarker diagnostic test market over the forecast period.

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Key Players

Examples of some of the key players operating in the global cardiac biomarker diagnostic test kits market are Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories, Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Siemens AG, bioMérieux SA, and Randox Laboratories Ltd., among others. The leading manufacturers of cardiac biomarker diagnostic test kits are focusing on collaborating with universities to manufacture innovative products for the diagnosis of cardiovascular diseases. Some of the companies are focusing on to collaborate directly with hospitals to promote their cardiac biomarker diagnostic test kits. On the other hand, few players of cardiac biomarker diagnostic test kits are emphasizing on collaboration with distributors to expand their regional presence.

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This release was published on openPR.