Global Cardiac Biomarkers Market - 2022-2029
The global cardiac biomarkers market size was valued at US$ YY million in 2021 and is estimated to reach US$ YY million by 2029, growing at a CAGR of 10.5% during the forecast period (2022-2029).
Cardiac biomarkers are biological molecules released into the blood as the heart is damaged or under stress. Identifying and estimating such biomarkers help diagnose acute coronary syndrome (ACS) and cardiac ischemia or other conditions associated with impaired blood flow to the heart.
The rising heart disease cases, growing geriatric population and market developments fuel the growth of the global cardiac biomarkers market.
The growing incidences of cardiovascular disease and the geriatric population propel the global cardiac biomarkers market growth.
The growing cases of cardiovascular diseases are anticipated to expand the market over the forecast period. According to the British Heart Foundation, in 2020, over 168,319 deaths were caused by cardiovascular diseases. Since the global geriatric population is growing at an increased rate, and the adoption of modern lifestyles are contributing factors to the growing incidences of cardiovascular cases. According to the world health organization data, in 2020, over 1 billion people were aged 60 and above, which is predicted to be 2.1 billion by 2050. Furthermore, annually 8 million people are dead due to tobacco consumption worldwide. Out of these 8 million, about 7 million are due to the direct use of tobacco, and around 1.2 million are because non-smokers are exposed to secondhand smoke. Thus, with the data mentioned earlier, the growing cardiovascular cases and geriatric population will drive the global cardiovascular biomarkers market growth.
The absence of specificity and the necessity of a more sensitive cardiac biomarker analysis system hinder the global cardiac biomarkers market growth.
However, the absence of specificity and the necessity of a more sensitive cardiac biomarker analysis system is a major restraint for the global cardiac biomarker market growth. According to American Association for Clinical Chemistry (AACC), using cardiac biomarkers as point-of-care testing (POCT) needs a high-sensitivity diagnostic tool since POCT cannot identify low levels of a cardiac biomarker such as troponin. Since it takes several hours to increase troponin levels for the system to detect, such a diagnostic method cannot be employed in rapid decision-requiring situations.
There was a positive impact of the COVID-19 pandemic on the global cardiac biomarker market since the use of cardiac biomarkers increased during the pandemic to reduce the risk of cardiac diseases. According to the NCBI, in 2021, complicated cases of COVID-19 exhibited raised cardiac biomarkers associated with adverse disease outcomes. Therefore, the sales of cardiac biomarkers were elevated for severe COVID-19 cases during the pandemic, positively impacting the global cardiac biomarker market.
Point-of-care testing is predicted to have a high demand during the forecast period (2022-2029).
Point-of-care testing is expected to dominate the global cardiac biomarkers market during the forecast period (2022-2029). Point-of-care testing is a test conducted at or near the site of the patient. Importantly it is a laboratory test performed outside of the laboratory setting. Point-of-care testing gives a quicker completion time than traditional laboratory testing, with the potential for immediate impact on patient care. Point-of-care testing enhances patient experience with a higher quality of care via delivering rapid details to the physicians regarding the patient's condition.
The benefits offered by point-of-care testing fuel this segment's dominance over the global cardiac biomarkers market. For instance, the results are available immediately and practice workflow is enhanced, resulting in operational and economic benefits. Point-of-care testing is more convenient than conventional laboratory testing for patients, which has improved patient satisfaction. Furthermore, point of care can support health screenings in those at risk of cardiovascular disease (CVD) and enhance patient adherence with testing frequency, benefitting in reducing cardiovascular mortality. Since 80% of premature deaths from heart attack and stroke are avoidable, as per the World Health Organization. Thus, from the data mentioned, it is anticipated that the point of care will dominate the global cardiac biomarkers market throughout the forecast period.
North America is predicted to command the global Cardiac Biomarkers market.
North America dominated the global cardiac biomarkers market. It is evaluated to hold a significant market size over the forecast period (2022-2029). As there are a high number of cardiovascular cases, for example, according to the CDC, in 2020, a U.S. American died every 34 seconds of cardiovascular disease, causing over 697,000 deaths. Furthermore, the presence of most of the key market players like Abbott Laboratories, Beckman Coulter, Roche Diagnostics Corporation, Becton Dickinson And Co., Bio-Rad Laboratories, and Thermo Fisher Scientific, holding a large share of the global cardiac biomarkers market through various market tactics are based in the United States ensuring the dominance of North America over the global cardiac biomarkers market. For instance, in April 2021, Roche introduced a series of five new intended applications for two key cardiac biomarkers using the Elecsys technology, a high-sensitive cardiac troponin T (cTnT-hs) and N-terminal pro-brain natriuretic peptide test (NT-proBNP). Also, in JULY 2021, Beckman Coulter formed a definitive agreement with Quidel Corporation to obtain all rights associated with the manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers.
The major players operating in the global Cardiac Biomarkers market are Abbott Laboratories, Beckman Coulter, Roche Diagnostics Corporation, Becton Dickinson and Co., Bio-Rad Laboratories, BioMerieux, Siemens Healthcare, LumiraDx, Randox laboratories and Thermo Fisher Scientific. The key players are adopting various strategies such as product launches, mergers & acquisitions, partnerships, and collaborations, contributing to the growth of the cardiac biomarkers market globally. For instance, in June 2022, LumiraDx Limited diversified its portfolio with CE Mark for its D-Dimer and NT-proBNP tests.
Thermo Fisher is a U.S.-based company founded in 1956. It is the world leader in serving science with annual revenue of approx. $40 billion has industry-leading brands such as Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon, and PPD.
The product portfolio of Thermo Fisher for cardiac biomarkers contains Thermo Scientific MAS CardioImmune XL Controls: Monitor serum cardiac marker test methods with ready-to-use, liquid-assayed multi-analyte Thermo Scientific MAS CardioImmune XL Controls. These controls are also available in a suitable Vista vial format.
The global cardiac biomarkers market report would provide access to approximately 40+ market data tables, 45+ figures, and in the range of 200 (approximate) pages.
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