Market Research Report
Cardiac Biomarker Market 2021-2027
|Cardiac Biomarker Market 2021-2027|
Published: August 13, 2021
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
Cardiac Biomarker Market by Type (Creatine Kinase, Troponins, Myoglobin, Ischemia Modified Albumin, and Others), By Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis, and Others), by Location of Testing (Laboratory Testing and Point Of Care Testing) - Global Industry Share, Growth, Competitive Analysis and Forecast Period 2020-2027
The global cardiac biomarkers market is estimated to grow at a CAGR of over 7% during the forecast period The market growth is attributed to the rise in cardiovascular diseases coupled with the rise in the geriatric population, as the biomarkers are utilized for the detection of cardiac problems. CVD is one of the major global causes of mortality and accounted for around 18.6 million mortalities in 2019. The cardiac biomarkers are utilized to detect and measure the risk factor associated with heart diseases. The cardiac biomarkers have been successfully tested to provide a more accurate prediction of heart failure after chest pain compared to other conventional methods. This is a major factor that may fuel the growth of the market.
Moreover, technological advancement related to biomarkers, robust health care expenditure and high investments for the R& Din developed economies, and urgent need for a more accurate form of diagnosis are other factors driving the growth of the cardiac biomarker market. However, some factors are restraining the growth of the market such as the requirement of a high capital ratio and the low-profit ratio, and strict government rules and regulations. Further, the increasing demand for personalized medicine, development of point of care testing, and advancement in R&D among other factors are estimated to create growth opportunities for the future.
The global cardiac biomarker market is segmented on the basis of type, application, and location of testing. By type, the market is segmented into Creatine Kinase (CK-MB), troponins (T, I), myoglobin, ischemia modified albumin, and others.The troponin is estimated to have a considerable market share in the cardiac biomarker market due to ease and high sensitivity that results in the high adoption of the test. According to the application, the market is segmented into myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and others. By location of testing, the market is segmented into point of care (POC) testing and laboratory testing
The cardiovascular biomarkers used for the diagnosis of acute coronary syndrome are projected to exhibit a considerable growth rate during the forecast period. The high incidence of acute coronary syndrome poses an immense economic and social global burden. Americans incur an estimated amount of $150 billion for the treatment of acute coronary syndrome. Moreover, myocardial infarction is expected to contribute a prominent share owing to factors, such as the increasing base of geriatric population, the growing unhealthy &sedentary lifestyle among individuals, increasing consumption of alcohol, and unhealthy food habits, inevitably leading to obesity.
Geographically, the study of the global cardiac biomarker market covers the analysis of four major regions including North America, Europe, Asia-Pacific, and the Rest of the World. North America is projected to contribute a prominent share in the global market. The regional growth is attributed to the increasing prevalence of cardiovascular diseases coupled with the increasing geriatric population pool. Moreover, the region has a well-established healthcare infrastructure and is home to major players operating in the market which further contribute to the regional growth of the market.
Asia-Pacific is projected to exhibit considerable growth during the forecast period. India, China, and Japan are the major economies contributing to the regional growth of the market. The healthcare system in the region is improving significantly and is expected to contribute to the cardiac biomarker market. The reason behind the potential market is the support from government organizations and funding and investment in cardiac biomarker research.
Market Players Outlook
Some of the key players of the cardiac biomarker market include Abbott Laboratories Inc., Alere Inc., Becton, Dickson &Co., BG Medicine Inc., Biomerieux, Bio-Rad Laboratories, Randox Laboratories Ltd., Response Biomedical Corp., Siemens AG, Signosis Inc., and Thermo Fisher Scientific Inc., among others. In order to survive in the market, these players adopt different marketing strategies such as mergers and acquisitions, product launches, and geographical expansion
The Report Covers
Market value data analysis of 2019 and forecast to 2027
Annualized market revenues ($ million) for each market segment
Country-wise analysis of major geographical regions
Key companies operating in the global cardiac biomarker market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future
Analysis of market entry and market expansion strategies
Competitive strategies by identifying 'who-stands-where' in the market
Scope of the Report
This report covers the analysis cardiac biomarker market on the basis of type, application, location of testing, and region.
Global Cardiac Biomarker Market by Type
Ischemia Modified Albumin
Global Cardiac Biomarker Market by Application
Congestive Heart Failure
Acute Coronary Syndrome
Global Cardiac Biomarker Market by Location of Testing
Point of Care Testing
Global Cardiac Biomarker Market by Region
Rest of the World
With the given market data, customization is available according to the specific requirements of the client. The customization options (not limited to) available for the report are:
Further breakdown of a region with respect to a particular country
Additional country information
Analysis and profiles of additional market players