Cardiac Biomarkers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
The global cardiac biomarkers market was worth US$ 6.9 Billion in 2018. Cardiac markers, also known as cardiac biomarkers, are released into the bloodstream when the heart is stressed, or its muscles are damaged. These markers include different types of enzymes, hormones, and proteins, such as cardiac troponins, creatine kinase (CK), ischemia-modified albumin (IMA), and myoglobin. Measurement and testing of these markers can help in diagnosing heart conditions like cardiac ischemia and acute coronary syndrome (ACS). At present, the triage and diagnostic systems used for determining the risk of these conditions are based on electrocardiograms (ECGs) and clinical history. However, these systems are insufficient and can lead to misdiagnosis or delay in treatment. As cardiac marker testing offers higher accuracy and can identify the conditions in the early stages of presentation, they are gaining traction across the globe. These markers can also help in monitoring the prognosis of these condition with greater accuracy and providing the most effective treatment to the patients. Looking forward, the market value is projected to reach US$ 11.6 Billion by 2024, expanding at a CAGR of around 9% during 2019-2024.
Global Cardiac Biomarkers Market Drivers:
Over the past few years, there has been a rise in the number of patients suffering from ACS which has created a demand for cardiac marker testing at a global level. Other than this, rising awareness among patients and healthcare providers about the importance of early diagnosis of various CVDs is driving the demand for these markers. In addition, there are numerous private and public organizations which are investing in R&D activities to develop advanced technologies in the field of cardiac biomarkers. For instance, blood tests for high-sensitivity cardiac troponin I have been demonstrated to identify patients who are at a higher risk of a second heart attack. Moreover, high accuracy and rapid results offered by biomarker testing, coupled with the availability of affordable cardiac point-of-care testing, are some of the other factors which are contributing to the growth of the market.
Based on the type, the market has been segmented into troponins (T and I), myocardial muscle creatine kinase (CK-MB), myoglobin, brain natriuretic peptide (BNPs) or NT-proBNP, ischemia modified albumin (IMA) and others.
Based on the location of testing, the market has been segmented into laboratory testing and point of care testing. Laboratory testing currently accounts for a larger share.
Based on the application, the market has been segmented into myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis and others. Myocardial infarction currently accounts for the highest share.
Region-wise, the market has been segmented into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America. Amongst these, North America is the biggest market, accounting for the majority of the global share.
The competitive landscape of the market has also been examined with some of the key players being Abbott Laboratories, Alere Inc., Beckman Coulter, Becton, Dickinson And Co., Biomerieux, Bio-Rad Laboratories, Randox Laboratories, Roche Diagnostics Corporation, Siemens Healthcare and Thermo Fisher Scientific.
Key Questions Answered in This Report:
How has the global cardiac biomarkers market performed so far and how will it perform in the coming years?
What are the key regional markets in the global cardiac biomarkers industry?
What is the breakup of the global cardiac biomarkers market on the basis of type?
What is the breakup of the global cardiac biomarkers market on the basis of location of testing?
What is the breakup of the global cardiac biomarkers market on the basis of application?
What are the various stages in the value chain of the global cardiac biomarkers market?
What are the key driving factors and challenges in the global cardiac biomarkers market?
What is the structure of the global cardiac biomarkers market and who are the key players?
What is the degree of competition in the global cardiac biomarkers market?
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