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Cardiac Biomarkers Testing Market To See Record Break Revenue $18.23 billion By 2026 | Becton, Dickinson and Company
Cardiac Biomarkers Testing Market
The global cardiac biomarkers testing market was estimated at $7.63 billion in 2018 and is expected to reach $18.23 billion by 2026, growing at a CAGR of 11.4% from 2019 to 2026.
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COVID-19 scenario-
1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.
2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.
3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.
Growing prevalence of cardiovascular diseases, technological advancements using cardio biomarkers combinations and increasing point of care (POC) testing have fueled the growth of the global cardiac biomarkers testing market. On the other hand, the complex process related to the course and several stringent government regulations hamper the growth to some extent. However, increase in the use of personalized medicine and rise in point of care testing using cardiac biomarkers are expected to create multiple opportunities in the market.
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The myocardial infarction segment to lead the trail during 2019–2026
Based on application, the myocardial infarction segment accounted for nearly two-fifths of the total market share in 2018 and is expected to lead the trail throughout the estimated period. Its high prevalence rate as compared to all other cardiovascular diseases (CVDs) has driven the growth of the segment. At the same time, the congestive heart failure segment is anticipated to cite the highest CAGR of 12.3% through 2019–2026.
The troponins segment to maintain its dominance till 2026
Based on application, the troponins segment held the major share, accounting for nearly two-fifths of the total market in 2018. Its prodigious specificity and its ability to accurately detect the cardiac events of acute coronary syndrome, MI, and other cardiac injuries have spurred the growth. Simultaneously, the IMA segment is projected to showcase the fastest CAGR of 12.8% during the study period.
North America to rule the roost
Based on geography, North America contributed to more than one-third of the total market share in 2018 and is expected to dominate throughout the forecast period. High demand for cardiac testing, high CVD prevalence rate, and increase in awareness toward cardiac diagnostics solutions have driven the growth of the segment. The Asia-Pacific region, on the other hand, is projected to grow at the fastest CAGR of 12.8% throughout the forecast period.
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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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