Cardiac Bio Marker Diagnostic Test Market Set to Witness an Uptick during 2015-2025
Cardiovascular diseases are one of the leading causes of deaths globally with around 35% cardiovascular related deaths worldwide in 2013. As per WHO, 17.5 million people died from CVDs in 2012, representing 31% of all global deaths. Of these deaths, an estimated 7.4 million were due to coronary heart disease or ACS which represent around 42% of the cardiovascular deaths.
It is also estimated that each year approximately around 17 million people die of cardiovascular disease due to inappropriate diagnosis and it represents untapped market opportunity for cardiac biomarker diagnostic test market.
Cardiac Bio-Marker Diagnostic Test Market: Drivers & Restraints
In-Vitro Diagnostics is the parent market for cardiac biomarker diagnostic test. In-vitro diagnostic refers to tests done using body samples of blood, urine, biopsies or tissue sections outside the body.
The increasing incidences of CVD is major driver for cardiac biomarkers market. Cardiac biomarkers are used in hospitals either to diagnose cardiac injury in an emergency or to evaluate the future risk of cardiovascular disease. The use of cardiac biomarker diagnostic tests will reduce the expenditure of patients on hospitals. Increase adoption of new diagnostic tools among healthcare professionals and affordability for patients are some of the few factors driving the growth of this market.
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With continuous development of the market, few tests reaching its saturation will always remain a key restrains for this market.
Cardiac Bio-Marker Diagnostic Test Market: Segmentation
Cardiac Bio-Marker tests are broadly classified based on indications and usage:
Creatine Kinase MB (CK-MB) Tests
B-type Natriuretic Peptide (BNP) Tests
Cardiac Bio-Marker Diagnostic Test Market: Overview
With rapid acceptance of these tests worldwide by healthcare professionals, Cardiac Bio-Markers diagnostic test have huge potential and is expected to grow at a higher rate in the forecast period (2016-2025). Effective implementation of these bio-markers have enabled healthcare institutions with decreased bed occupancy, reduction in the hospital cost and physician time.
Cardiac Bio-Marker Diagnostic Test Market: Regional Outlook
The number of deaths due to cardiovascular diseases are increasing in developing nations, while the number has decreased in the developed nations. Europe is a lucrative market for cardiac biomarker diagnostic test due to the initiatives of constant heart health monitoring through cardiac biomarker diagnostic test to reduce this high death rate.
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The global cardiac bio-marker diagnostic test market is expected to register a significant growth for the forecast period. Depending on geographic regions, global cardiac bio-marker diagnostic test devices market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. As of 2015, North America, and Western Europe dominated global cardiac bio-marker diagnostic test market in terms of market revenue. Asia-Pacific & Japan is projected to grow at a substantial growth and will contribute to the global cardiac bio-marker diagnostic test market value exhibiting a robust CAGR during the forecast period, 2016?2025.
Cardiac Bio-Marker Diagnostic Test Market: Key Players
The key players in cardiac biomarker diagnostic test market are Abbott Laboratories, Beckman Coulter, Roche Diagnostics, Bio-Rad Laboratories Inc., Siemens Healthcare Diagnostics, Cardiogenics Inc., and Life Sign LLC. The cardiac biomarker diagnostic test market players can develop prospects in customised cardiac biomarker diagnostic test solutions. They can opt for improving the cardiac biomarker diagnostic test efficiency by including multiple options in it. The cardiac biomarker diagnostic test market players can form associations with pharmaceutical companies to deliver better performing cardiac biomarker diagnostic tests that meet patient needs appropriately.
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