Cardiac Biomarkers Testing Market CAGR of 11.4% Size 2021 Growth Statistics, Industry Demand, Top Players Data, Future Innovation Sales, Consumption Status, Global Share, Upcoming Trends, Business Boosting Strategies, Revenue and Forecast 2027
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 Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market’s future growth.
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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.
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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.
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.
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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.
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Key Findings of the Cardiac Biomarkers Testing Market:
By type, the troponin segment is projected to dominate the market during the forecast period.
The myocardial infarction segment is expected to grow more than twofold during the forecast period.
Laboratory testing market is expected to garner $$ of the overall market revenue by 2026
Based on location of testing segment, the point of care cardiac biomarker testing segment is projected to grow at a CAGR of $$% throughout the forecast period.
Asia-Pacific region holds immense future market potential as there is a higher count of undiagnosed Cardiac patients diagnosed precisely
The report provides a comprehensive analysis of the key players operating in the global cardiac biomarkers testing market , namely, Roche Diagnostics, Abbott Laboratories, Siemens Healthcare, Becton, Dickinson and Company, Bio-Rad Laboratories, BioMerieux, PerkinElmer Inc., Tosoh Corporation, Danaher Corporation, and Thermo Fisher Scientific.
CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings
2.1.1. Top impacting factors
2.1.2. Top investment pockets
2.2. CXO perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Biomarker diagnosis vs. conventional diagnosis
3.3. Assessment of key advantages and buying criteria for diagnostic biomarkers
........and view more in complete table of Contents
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What are the aspects of this report that relate to regional analysis?
The report's geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
Following are the questions answered by the Market report:
What are the goals of the report?
This market report shows the projected market size for the pain management devices market at the end of the forecast period. The report also examines the historical and current market sizes.
On the basis of various indicators, the charts present the year-over-year growth (%) and compound annual growth rate (CAGR) for the given forecast period.
The report includes an overview of the market, its geographical scope, its segmentation, and the financial performance of key players.
The report examines the current state of the industry and the potential growth opportunities in North America, Asia Pacific, Europe, Latin America, and the Middle East, and Africa.
The research report includes various factors contributing to the market's growth.
The report analyzes the growth rate, market size, and market valuation for the forecast period.
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What factors are taken into consideration when assessing the key market players?
The report analyzes companies across the globe in detail.
The report provides an overview of major vendors in the market, including key players.
Reports include information about each manufacturer, such as profiles, revenue, product pricing, and other pertinent information about the manufactured products.
This report includes a comparison of market competitors and a discussion of the standpoints of the major players.
Market reports provide information regarding recent developments, mergers, and acquisitions involving key players.
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
Combined with Porter's Five Forces analysis, it serves as SWOT analysis and competitive landscape analysis.
It provides an in-depth analysis of the market, highlighting its growth rates and opportunities for growth.
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