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Cardiac Biomarkers Market Size, Overview, Outlook, Trends, Size 2024-2033
Cardiac Biomarkers Market Size
According to The Business Research Company's, The cardiac biomarkers market size has grown rapidly in recent years. It will grow from $17.22 billion in 2023 to $19.48 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increased healthcare expenditure, fda approvals and regulatory support, aging population, awareness programs, high sensitivity troponin tests, increasing cardiovascular diseases.
The cardiac biomarkers market size is expected to see rapid growth in the next few years. It will grow to $31.88 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%. The growth in the forecast period can be attributed to rising burden of chronic diseases, growing emphasis on early disease detection, expansion of geriatric population, emerging markets development, focus on biomarker panels. Major trends in the forecast period include patient-centric healthcare models, ai and machine learning applications, digital health integration, technological innovations in biomarker discovery, multi-marker panels, liquid biopsy in cardiovascular medicine.
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Market Drivers and Trends:
The rising prevalence of cardiovascular disorders is expected to propel the growth of the cardiac biomarker market going forward. Cardiovascular disorders are diseases that affect the heart and blood vessels and include conditions such as coronary artery disease, heart failure, and stroke. Cardiac biomarkers are released into the bloodstream in response to certain cardiovascular disorders, such as myocardial infarction (heart attack), heart failure, and arrhythmias, that can be measured using laboratory tests, and their levels can provide important diagnostic and prognostic information. For instance, in May 2023, according to the Centers for Disease Control and Prevention, a US-based public agency, coronary artery disease (CAD) was responsible for killing 375,476 people in 2021, and about 1 in 20 adults age 20 and older had CAD. In addition, about 2 in 10 deaths from CAD happen to adults less than 65 years old. Therefore, the rising prevalence of cardiovascular disorders is driving the growth of the cardiac biomarker market.
Technological advancements are a key trend gaining popularity in the cardiac biomarker market. Companies operating in the cardiac biomarker market are adopting new technologies to sustain their position in the market. For instance, in April 2021, Roche Diagnostics, a Switzerland-based healthcare company, introduced five new solutions for two significant cardiac biomarkers, highly sensitive cardiac troponin T (cTnT-hs) and the N-terminal pro-brain natriuretic peptide test (NT-proBNP), using Elecsys technology. These solutions support cardiac risk identification and improve diagnosis and help identify cardiovascular risk, better diagnose patients and support early treatment.
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Major Key Players of the Market:
bioMerieux Inc.; Bio-Rad Laboratories; F. Hoffmann-La Roche AG; Siemens AG; Thermo Fisher Scientific Inc.; Creative Diagnostics; Randox Laboratories Ltd.; Becton Dickinson and Company; Tosoh Corporation; Life Diagnostics; PerkinElmer Inc.; Quidel Corporation; ACS Biomarker BV; LSI Medience Corp.; BioDot; Alere Inc.; Biosensors International Group; Biosynex SA; CardioGenics Holdings Inc.; Danaher Corporation; Cortez Diagnostics Inc.; DIALAB GmbH; Eurolyser Diagnostica GmbH; Grifols SA; Hologic Inc.; InfraRedx Inc.; Labcorp Corp.; Lepu Medical Technology; Myriad Genetics; Nanosphere Inc.; Biora Therapeutics Inc.; Quest Diagnostics
Cardiac Biomarkers Market 2024 Key Insights:
• The cardiac biomarkers market size will grow to $31.88 billion in 2028 at a compound annual growth rate (CAGR) of 13.1%.
• Rising Prevalence Of Cardiovascular Disorders Drives Expansion Of Cardiac Biomarker Market
• Key Players Introduce Advanced Solutions In Cardiac Biomarker Market
• North America was the largest region in the cardiac biomarkers market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide."
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