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Cardiac Marker Testing Market Insights, Competitive Analysis, Latest Trends, And Forecast To 2033
Cardiac Marker Testing Market
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According to The Business Research Company's, The cardiac marker testing market size has grown rapidly in recent years. It will grow from $5.92 billion in 2023 to $6.52 billion in 2024 at a compound annual growth rate (CAGR) of 10%. The growth in the historic period can be attributed to rise in geriatric population, rise in educational campaigns, increasing awareness, rising healthcare infrastructure, and rising patient population.
The cardiac marker testing market size is expected to see rapid growth in the next few years. It will grow to $9.35 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to rising incidences of cardiovascular diseases, increasing strategic collaborations and partnerships, increasing research and development initiatives, favorable reimbursement policies and rising demand for point-of-care (POC) testing. Major trends in the forecast period include advanced diagnostic technologies, automated analyzers, advanced cardiac marker testing assays, digital health technologies, and emergence of integrative technologies.
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Market Drivers and Trends:
The rising incidence of cardiovascular diseases is expected to propel the growth of the cardiac marker testing market going forward. Cardiovascular diseases (CVDs) are a group of disorders affecting the heart and blood vessels, including conditions such as coronary artery disease, heart failure, and stroke. The rising cases of cardiovascular diseases are caused due to an unhealthy diet, physical inactivity, tobacco use, harmful use of alcohol, and air pollution. Cardiac marker testing is required for cardiovascular diseases to accurately diagnose, assess the severity, and monitor the progression or response to treatment of heart conditions by detecting specific biomarkers released during myocardial injury. For instance, in January 2024, according to the American Heart Association, a US-based nonprofit organization, the age-adjusted death rate from cardiovascular disease increased to 233.3 per 100,000, up 4.0% from 224.4 per 100,000 when compared to 2023. Sudden cardiac arrest was responsible for 20,114 deaths in the U.S. in 2021. Therefore, the rising incidence of cardiovascular diseases drives the cardiac marker testing market.
Major companies operating in the cardiac marker testing market are focused on developing technologically advanced products, such as cardiac assays, to provide valuable, precise information about heart health and function. Cardiac assays are diagnostic tests designed to measure biomarkers or other indicators in the blood or other samples to assess heart function, diagnose cardiovascular diseases, or evaluate the risk of heart-related conditions. For instance, in October 2023, Mindray, a China-based medical device company, launched the troponin I (hs-cTnI) and NT-proBNP cardiac biomarkers. The hs-cTnI assay distinguishes itself with exceptional sensitivity, precision, and reliability, surpassing minimum requirements by achieving a 93% detection rate between the limit of detection (LoD) and the 99th percentile upper reference limit (URL) and maintaining an imprecision coefficient of variation (CV) below 5% at the 99th URL, making it highly effective in detecting myocardial injury. Mindray's NT-proBNP assay is an important cardiac marker for heart failure, showing high precision with a coefficient of variation (CV) of =5%. It also effectively minimizes interference from 55 common heart disease medications, ensuring accurate detection and management of heart failure.
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Major Key Players of the Market:
F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific Inc., Abbott Laboratories, Danaher Corporation, Siemens Healthineers AG, Becton Dickinson and Company, Laboratory Corporation of America Holdings, Quest Diagnostics Inc., Tosoh Corporation, bioMérieux SA, Sysmex Corporation, Bio-Rad Laboratories Inc., Guangzhou Wondfo Biotech Co. Ltd., Randox laboratories Ltd., Getein Biotech Inc., Fujirebio Inc., Mayo Clinic Laboratories, Kainos Medicine Inc., Alere Inc., Nano-Ditech Corporation, 1Drop Diagnostics
Cardiac Marker Testing Market 2024 Key Insights:
• The cardiac marker testing market size is expected to see rapid growth in the next few years. It will grow to $9.35 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%.
• Rising Cardiovascular Disease Incidence Fuels Growth In Cardiac Marker Testing Market
• Advancements In Cardiac Marker Testing
• North America was the largest region in the cardiac marker testing market in 2023
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