Cardiac Biomarkers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Cardiac Biomarkers Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Cardiac Biomarkers Market

The cardiac biomarkers market size was valued at USD 13.15 billion in 2019, and the market is now projected to grow from USD 48.26 billion by 2032, exhibiting a CAGR of 11.9% during the forecast period of 2019-2032.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the market switched to treating covid patients as priority over the other procedures which led the cardiac biomarkers market growth. Additionally, manpower shortages affected manufacturing plants and slowed production due to movement restrictions and lockdowns in several regions. The pandemic has also had a negative impact on facial recognition door lock manufacturing and production facilities. The disruption in the supply chain and the decreased availability of labor, staff, and resources are the causes of this. The market is expected to grow slowly. However, subject to the treatment segment returning to its regular operations, the product demand will gradually revert to its historical estimations as lockdown requirements are gradually relaxed.

The market will be driven by the rising prevalence of cardiovascular diseases during forecast period. Numerous variables, including smoking, diabetes, obesity, and changes in lifestyle, are contributing to the increasing global burden of cardiovascular diseases (CVDs). Furthermore, around 103,000 people in the UK get myocardial infarction annually, according to Patient Platform Limited. One of the key factors expected to propel market expansion during the forecast period is the rising frequency of cardiovascular illnesses. New biomarker tests are introduced to drive the cardiac biomarkers market growth. The U.S. Food and Drug Administration (FDA) approved Siemens' high-sensitivity troponin I tests (TnIH) in July 2019 to help in the early detection of myocardial infarctions.

Using Point-of-Care biomarker testing to accelerate cardiac biomarkers market growth during forecast period. One of the main causes anticipated to raise demand for quick and point-of-care cardiac biomarker testing is the rising prevalence of cardiovascular illnesses. Rapid biomarker test kits are being developed by major market players, which is anticipated to propel market expansion. When compared to Roche's traditional TnT test, the test yields result in 9 minutes, cutting the time to diagnosis by nearly 3 hours. Rapid POC tests are gradually becoming more popular in both developed and emerging nations for the identification of these biomarkers.

Comprehensive Analysis of Cardiac Biomarkers Market

The cardiac biomarkers market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by indication, by biomarker and by end users. The Indication segmentations include Acute Coronary Syndrome, Congestive Heart Failure, Myocardial Infarction, and Others, and By Biomarker segmentations include Troponin, Creatine kinase-MB (CK-MB), B-type Natriuretic Peptide (BNP), Myoglobin, and Others. However, By End User segmentations include Hospitals, and Specialty Clinics.

The North America region lead the cardiac biomarkers market by benefitting a market size of USD 5.23 billion in 2027 due to robust healthcare infrastructure and adoption of advanced treatment options.

The top players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These prominent key industry players include, F. Hoffmann-La Roche AG, Abbott, Siemens AG, Creative Diagnostics, Beckman Coulter, Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., bioMérieux SA, Others these market players provide a level-playing competitive landscape.

In April 2021, Siemens AG declared that their high sensitivity troponin I test, the point-of-care Atellica VTLiPatient-Side Immunoassay Analyzer, has been approved with the CE Mark. Protein biomarkers for acute myocardial infraction are detected by the authorized instrument.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2016-2027

Base Year 2019

Forecast Period 2020-2027

Historical Period 2016-2018

Unit Value (USD billion)

SegmentationBy Indication

Myocardial Infarction

Congestive Heart Failure

Acute Coronary Syndrome

Others

By Biomarker

Troponin

Creatine Kinase-MB (CK-MB)

B-type Natriuretic Peptide (BNP)

Myoglobin

Others

By End User

Hospitals

Specialty Clinics

By Geography

North America (the U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

Latin America (Brazil, Mexico, and the Rest of Latin America)

The Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)


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