Press release
Cardiac Biomarkers Testing Market to Play Major Role in $18,232 million Economic Boost | Abbott Laboratories, Siemens Healthcare
Cardiac Biomarkers Testing Market
According to the research report published by Allied Market Research, the global cardiac biomarkers testing market is expected to register a CAGR of 11.4% from 2019 to 2026. The research includes changing market dynamics, top impacting factors, key investment pockets, value chain, and competitive scenario. Through tabular and graphical representation, the report offers key insights on different aspects of the market such as current market size and estimations, region-wise analysis, and opportunities. Porter’s Five Forces analysis has been mentioned in the report to outline competitive intensity. The report is a helpful source of information to unlock potential from emerging countries and expand businesses to gain international presence.
The cardiac troponins segment, both T and I, forefronts among all other cardiac biomarker types, holding the largest share due to its strong performance, as cardiac troponins are the most sensitive and specific biomarkers for subsequent events of myocardium injury.
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The global cardiac biomarkers testing market has witnessed significant growth in the past few years, and is anticipated to continue to grow at a consistent pace, due to high prevalence of cardiac diseases that widely remain undiagnosed. Large number of cardiac biomarkers in pipeline, augmented patient awareness toward the importance of early detection of cardiovascular diseases, and opportunities in untapped countries such as India, China, and other Asia-Pacific countries are the key factors that contribute toward the growth of the market. In addition, introduction of novel cardiac biomarkers for point of care (POC) testing and facilitating quick results for chronic patients serve as opportunistic approaches to drive the market growth.
However, premium pricing of approved and novel single used cardiac biomarkers and uncertain government regulation regarding the approval for biomarker tests and assays are expected to hinder the market growth during the analysis period.
Presence of large undiagnosed patient population, rise in incidence of cardiovascular diseases (CVDs), rapid urbanization, increase in disposable income, improved government funding toward healthcare, and surge in awareness about cardiac events, i.e., quick checkups after the onset of chest pain are the prime reasons responsible for the market growth in North America. Furthermore, the market growth is driven by novel progress in the treatments with improved overall survival benefits using multi-assay biomarkers. The survival benefit would be influential in governing the peak sales and market penetration of novel approved cardiac biomarker-based devices.
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Based on cardiac biomarker type, the market is segmented into creatine kinase (CK-MB), troponins T and I, myoglobin, BNPs, IMA, and others. The IMA segment is expected to grow at high CAGR, as these biomarkers improve the sensitivity and negative predictive value for the diagnosis of myocardial ischemia when used in combination with standard cardiac biomarkers.
The applications covered in the study include myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and others. The congestive heart failure segment is expected to register the highest growth rate, owing to increased demand for biomarker tests for early detection of heart failure.
North America led the global market in 2018, due to high demand for cardiac testing, increase in prevalence rate of CVD, and rise in awareness toward cardiac diagnostics solutions. Moreover, intensive efforts taken by government and research institutes to deal with critical cardiac diseases and increase in R&D activities related to cardiac biomarkers are expected to boost the market growth in North America.
The Major Key Players Are:
• Roche Diagnostics
• Abbott Laboratories
• Siemens Healthcare
• Becton
• Dickinson and Company
• Bio-Rad Laboratories
• BioMerieux, PerkinElmer Inc.
• Tosoh Corporation
• Danaher Corporation
• Thermo Fisher Scientific.
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About Us
Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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