PUBLISHER: Allied Market Research | PRODUCT CODE: 1566812
PUBLISHER: Allied Market Research | PRODUCT CODE: 1566812
Heart Attack Diagnostics Market
The heart attack diagnostics market was valued at $9.2 billion in 2023 and is projected to reach $21.1 billion by 2033, growing at a CAGR of 8.6% from 2024 to 2033.
Heart attack diagnostic comprises of diagnosing the blood pressure, temperature, and pulse rate of a patient. A series of evaluations are conducted to determine if an individual has experienced a heart attack, also known as myocardial infarction. The series of diagnostic tests includes an electrocardiogram (EKG) which measures the electrical activity of heart, blood tests to detect cardiac enzymes such as troponin which are released into the bloodstream in case of heart muscle damage, and imaging tests such as coronary angiography or echocardiography for the visualization of heart & its blood vessels.
Increase in sedentary lifestyles has led to surge in occurrence of lifestyle diseases, including heart attack. This has led to surge in demand for heart attack diagnostics, hence augmenting the growth of the market. Furthermore, exponential growth in the geriatric population globally is opening avenues for the expansion of the market. The assimilation of AI in the EKG testing is poised to become mainstream in the future as it reduces the diagnosis time. A hospital in Taiwan conducted research regarding the assimilation of AI and EKG, which reduced the diagnosis period by 10 minutes. Constant improvements in AI are enhancing the efficacy of clinical decision support system, encouraging medical practitioners to adopt the technology.
However, these diagnostics tests are extremely expensive and prevent several end users from leveraging their benefits, hence restraining the market development. In addition, the introduction of new diagnostic technologies is subject to various regulatory hurdles, hence presenting challenges for the expansion of the market. Different regulatory bodies such as the U.S. Food and Drug Administration, European Medicines Agency, the Pharmaceuticals and Medical Devices Agency in Japan, and Central Drugs Standard Control Organization in India have mandated the adherence to their respective regulatory guidelines for the entry of new diagnostic technologies into the market. Contrarily, innovative techniques being introduced into the market are an indicator of its promising future. For instance, Siemens Healthineers, a German healthcare company, has introduced a handheld device which claims to detect heart attack in less than 30 minutes. The launch of such devices is expected to quicken treatment delivery and increase the chances of recovery for patients in the future.
Segment Review
The heart attack diagnostics market is segmented into type, end user, and region. On the basis of type, the market is divided into electrocardiogram, blood tests, angiogram, computerized cardiac tomography, and others. By end user, it is classified into hospitals, diagnostics centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competition Analysis
The major players operating in the global heart attack diagnostics market include Bionet Co., Ltd, TOSHIBA CORPORATION, Bio-Rad Laboratories Inc, Life Sign LLC, Schiller AG, Beckman Coulter,Inc., GE Healthcare, Hitachi Medical Systems, F. Hoffmann-La Roche Ltd., and Abbott Laboratories. These players have adopted various key developmental strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the market.
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