High target disease prevalence, product launches, increasing strategic developments such as partnerships and agreements, favourable research funding scenario are key factors contributing to high CAGR of Cardiac Biomarkers during forecast period.
According to the current analysis of Reports and Data, the global Cardiac Biomarkers market was valued at USD 7.96 Billion in 2020 and is expected to reach USD 17.55 Billion by year 2028, at a CAGR of 10.4%.
According to the Centre for Disease Control and Prevention (CDC), for around 610,000 people die of heart disease in United States every year, that’s 1 in every 4 deaths and more than half of the deaths due to heart disease were in men. Cardiac biomarkers are protein-based observable materials discharged into blood when the heart’s muscles are wounded which can be used as risk stratification for numerous cardiovascular diseases (CVDs) that includes Acute Myocardial Infarction (AMI), Ischemia, Congestive Heart Failure (CHF), Acute Coronary Syndrome (ACS) and others related with insufficient blood flow to heart.
The high occurrence rates of CVDs worldwide and the growing demand for POC cardiac testing kits are expected to fuel the market growth. Certain manufacturing, limited specificity and pharmacological issues and regulatory hurdles are hindering the growth of the market.
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The rapid adoption of AI, ML, and IoT and robust data management processes has made the hospitals and clinical settings smarter. New technologies and solutions have improved the normal medical processes such as clinical diagnosis, treatment, diseases management, and monitoring patient recovery after discharge. Rapid digitalization and increasing adoption of virtual care and telemedicine is further expected to positively impact the revenue growth of the market going ahead.
Emergence of new healthcare and telemedicine startups, increasing number of collaborations among healthcare facilities and research institutions, and rising focus on patient engagement solutions has further fueled revenue growth of the market. Key companies are forming strategic alliances and collaborative ventures such as mergers and acquisitions, joint ventures, partnerships, manufacturing and licensing agreements, and product launches among others.
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Leading Players Analyzed in the Report:
Abbott Laboratories, Alere Inc. and Roche Diagnostics Corporation.
Furthermore, to offer a better understanding of the competitive landscape, an extensive SWOT analysis and Porter’s Five Forces analysis are included in the report. Along with this, feasibility analysis and investment return analysis are also covered in the report.
The report further discusses in detail the regional spread of the global Cardiac Biomarkers market along with analysis of production and consumption patterns, import/export analysis, supply and demand ratio, market share and size based on volume and value, trends and demands, revenue share, and presence of the key players of the market.
Key Regions Studied in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Segmentation based on Types:
Product Type (Revenue, USD Million; 2020–2028)
- Brain Natriuretic Peptide (BNPs) or NT-proBNP
- Ischemia Modified Albumin (IMA)
- Troponins (T and I)
- Myocardial muscle Creatine Kinase (CK-MB)
Location of Testing (Revenue, USD Million; 2020–2028)
- Laboratory Testing
- Point of Care Testing
Application (Revenue, USD Million; 2020–2028)
- Myocardial Infarction
- Congestive Heart Failure
- Acute Coronary Syndrome
End User (Revenue, USD Million; 2020–2028)
- Diagnostic Laboratories
- Hospitals and Clinics
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