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Market Size in USD Billion
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USD 12,098.97 Billion |
| USD 28,491.13 Billion | |
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Global Cardiac Biomarkers Testing Market, By Type (Myocardial muscle Creatine Kinase (CK-MB), Troponins (T and I), Myoglobin, Brain Natriuretic Peptide (BNPs) or NT-proBNP, Ischemia Modified Albumin (IMA)), Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis), Location of Testing (Point of Care, Laboratory) – Industry Trends and Forecast to 2030.
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According to the World Health Organization, approximately 4.77 million people in India suffer from cardiovascular diseases, with obesity causing angina pectoris in approximately 3.1% of the population. To reduce the burden of disease, the Government of India is launching a number of initiatives to raise awareness in rural areas. Several government and private healthcare institutes and diagnostic laboratories are implementing cardiac biomarkers diagnostic test kits to meet the growing patient population.
Data Bridge Market Research analyses that the cardiac biomarkers testing market which is USD 12098.97 million in 2022, is expected to reach USD 28491.13 million by 2030, at a CAGR of 11.30% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Myocardial muscle Creatine Kinase (CK-MB), Troponins (T and I), Myoglobin, Brain Natriuretic Peptide (BNPs) or NT-proBNP, Ischemia Modified Albumin (IMA)), Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis), Location of Testing (Point of Care, Laboratory)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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F. Hoffmann-La Roche Ltd. (Switzerland), Thermo Fisher Scientific Inc. (U.S.), Abbott (U.S.), QIAGEN (Germany), PerkinElmer, Inc. (U.S.), Merck KGaA (Germany), Bio-Rad Laboratories, Inc. (U.S.), Enzo Biochem, Inc. (U.S), Charles River Laboratories (U.S.), Eurofins Scientific (Luxembourg), Agilent Technologies, Inc. (U.S.), Bruker (U.S.), Siemens (Germany), Epigenomics AG (Germany), General Electric (U.S.)
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Market Opportunities
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Market Definition
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 enzymes, hormones, and proteins such as cardiac troponins, creatine kinase (CK), ischemia-modified albumin (IMA), and myoglobin. The measurement and testing of these markers can aid in the diagnosis of heart conditions such as cardiac ischemia and acute coronary syndrome (ACS). At the moment, the triage and diagnostic systems used to determine the risk of these conditions are based on electrocardiograms (ECGs) and clinical history.
Drivers
With the rising prevalence of cardiovascular diseases, the demand for these diagnostic test kits is expected to rise in the coming years. According to WHO, the mortality rate from heart failure is rising, accounting for more than 15.60% of total deaths in the country. To slow the rate of increase, the government and healthcare organizations are taking preventive measures to educate the public about the benefits of these test kits. As a result of the above-mentioned factors, the market for cardiac biomarkers testing is expected to grow during the forecast period.
The rising prevalence of coronary heart disease has increased the number of cases of angina pectoris/chest pain, particularly among the elderly. According to the World Health Organization, nearly 17 million people died from cardiovascular diseases in 2019. Around 20% of those were diagnosed with angina pectoris. In addition, as millennials consume unhealthier foods, the prevalence of angina pectoris has increased. As a result, demand for cardiac biomarkers testing is expected to rise in order to meet the growing patient population.
Opportunities
In the outbreak of COVID-19, governments around the world have launched a number of initiatives to improve healthcare infrastructure. Increasing healthcare spending, particularly in emerging economies such as India, South Korea, and Japan, has increased demand for advanced medical devices such as cardiac biomarkers diagnostic test kits. According to the India Brand Equity Foundation (IBEF), the Government of India approved the continuation of the "National Health Mission" in the Union Budget for 2021-22 with a budget of US$ 5.10 billion. Under this policy, the government will provide advanced medical devices in rural areas for cardiology, neurology, and other diseases in order to reduce global mortality. A slew of such initiatives around the world are expected to create market growth opportunities.
Restraints/Challenges
Rising side effects such as skeletal muscle injury and limited specificity in some cases will obstruct market growth and will further challenge the growth of the cardiac biomarkers testing market during the forecast period.
This cardiac biomarkers testing market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the cardiac biomarkers testing market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Developments
The cardiac biomarkers testing market is segmented on the basis of type, application and location of testing. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
Application
Location of Testing
The cardiac biomarkers testing market is analyzed and market size insights and trends are provided by country, type, application and location of testing as referenced above.
The countries covered in the cardiac biomarkers testing market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the cardiac biomarkers testing market because of increased demand for cardiac testing, high CVD prevalence, and increased awareness of cardiac diagnostics solutions.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the region's rising modernization, rising disposable incomes, and rising affordability.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure Growth Installed base and New Technology Penetration
The cardiac biomarkers testing market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for cardiac biomarkers testing market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the cardiac biomarkers testing market. The data is available for historic period 2011-2021.
The cardiac biomarkers testing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to cardiac biomarkers testing market.
Some of the major players operating in the cardiac biomarkers testing market are:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.