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Cardiac Biomarkers Market To Witness Enhanced Growth Owing To Rising Appications in Diagnosis of ACS, CHF and Escalating Popularity of POC Testing Till 2024 | Million Insights
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The Global Cardiac Biomarkers Market size was estimated at USD 4.7 billion in 2015. Rising prevalence of cardiovascular diseases globally and escalating popularity of POC testing are some of the main factors contributing toward the market growth.
Cardiac biomarkers are the substances released in the bloodstream due to heart related damage and stress. as a result of insufficient blood supply to the heart. The detection of the biomarkers is used for the identification of various heart conditions such as, acute coronary syndrome, acute myocardial infarction, ischemia, congestive heart failure.
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High prevalence of cardiovascular diseases worldwide has resulted into a significant growth in the cardiac biomarkers market. According to the WHO, about 17.5 million people globally suffer from some heart condition. The increasing preference to the use of the cardiac kits and more awareness among the people regarding the application of the cardiac biomarkers is expected to augment the market in the near future.
Type Insights
Based on the types, the cardiac biomarker market is classified into the troponin, creatinine- kinase MB, Natriuretic peptides- b-type Natriuretic peptide and N terminal pro b–type Natriuretic peptide, myoglobin, and others. Troponin tests are in large demand for the detection of the AMI with efficient diagnosis of cardiovascular disorders. This growing demand has resulted in tremendous market growth of this segment.
Natriuretic peptides held the second largest share in 2015. The increasing incidence of the cardiovascular disorders has led to the surge in demand of these products, further attributing to the growth of the segment.
Application Insights
Based on application, the market is segmented into ACS (acute coronary syndrome), AMI (acute myocardial infarction), and CHF (congestive heart failure). The cardiac biomarkers have major application in the diagnosis of ACS and thus, this segment accounted for largest revenue generating sector. According to American Heart Association (AHA), the Americans are estimated to spend around USD 150 billion for treating ACS posing a huge social and economic burden.
Followed by ACS, myocardial infarction held the second largest market share in 2015. The increasing number of the geriatric population has led to the growth of the sector, in this segment, as the elderly population is more prone to cardiac-related ailments. In addition, the growing unhealthy, sedentary lifestyle and alcohol consumption has further augmented the chances of the heart problems, hence, boosting the cardiac biomarker market growth.
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End User Insights
The end user segment is fragmented into two types namely, laboratory testing and point of testing (PoC). The laboratory testing held the largest revenue share in 2015. Increasing incidence and prevalence of heart-related diseases is expected to flourish the segment growth.
The PoC testing segment is projected to witness growth at the highest CAGR during the forecast period. The rising demand for the PoC segment has led to the growth of the segment. Moreover, the rising awareness in the developing countries regarding the use of PoC testing and its application in cardiac biomarkers has nurtured the market growth.
Regional Insights
The regional market considered in the cardiac biomarkers sector are North America, Europe, Asia Pacific, Latin America, and MEA. North America is estimated to account for the largest revenue share in 2015. The high prevalence of the cardiac disorders in the North America has boosted the application of cardiac biomarkers in North America. Moreover, the increasing popularity of the PoC testing has added to the growth of the market.
The Asia Pacific region is anticipated to witness fastest growth owing to large population base with target disease. The high prevalence of the cardiovascular diseases has augmented the cardiac biomarker products in the Asia Pacific region. The major emerging markets such as India and China attributes for the major growth in the cardiac biomarker segment in the Asia Pacific region.
Competitive Insights
The major players in the cardiac biomarker market include Roche Diagnostics; Siemens Healthcare; Alere, Inc.; Beckman Coulter, Inc.; Thermo Fisher Scientific, Inc.; Bio-Rad Laboratories, Inc.; Becton, Dickinson and Company; bioMérieux SA; and Randox Laboratories Ltd.
The new product launches and increasing development in the products are major growth trends in the cardiac biomarker market. The rising demand for efficient and rapid diagnostics of cardiovascular diseases is the key contributing factor to the sector growth. Alere triage panel, manufactured by Alere, Inc., is a combination of three major biomarkers namely, CK-MB, myoglobin, and troponin I. The test is handy due to efficient detection of the cardiovascular disease and, being a combination product, there is a great demand for the test in the market.
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/healthcare
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