Cardiac Marker Testing Market Size to be Worth USD 11.59 Billion Growing at 8.7% CAGR till 2032; Industry Revenue, Statistics, Forecast by Emergen Research
The global cardiac marker testing market size is expected to reach USD 11.59 Billion in 2032 and register a steady revenue CAGR of 8.7% during the forecast period, according to the latest analysis by Emergen Research. One of the major drivers for the cardiac marker testing market is the growing prevalence of Cardiovascular Diseases (CVDs) worldwide. CVDs, such as heart attack and stroke, are leading causes of death globally, and the increasing incidence of these diseases is driving the demand for more efficient and accurate diagnostic tools.
Cardiac marker tests play a significant role in the diagnosis and management of CVDs, as they provide early indicators of heart damage and help healthcare professionals make timely and appropriate treatment decisions. The demand for cardiac marker tests is further driven by the aging population and the growing prevalence of lifestyle-related diseases, such as diabetes and obesity, which are major risk factors for CVDs.
In addition, advancements in technology and the development of more sophisticated diagnostic tools are also driving the growth of the cardiac marker testing market. The introduction of new and innovative testing methods, such as point-of-care testing, is increasing the accessibility and affordability of these tests, making them more widely available to patients in need.
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A major restraint to the cardiac marker testing market is the lack of standardization in testing procedures. There is currently no globally accepted standard for the use of cardiac markers in diagnosing cardiovascular diseases, leading to varying results from different laboratories. This can result in incorrect diagnoses, leading to inappropriate treatment and poor patient outcomes. The need for standardization in testing procedures is therefore imperative for the growth and development of the cardiac marker testing market. The lack of standardization in testing procedures can also hinder the adoption of new diagnostic techniques and technologies, further restricting revenue growth of the market.
The report addresses the following key points:
- On 14 April 2021, a strategic partnership between Biognosys and Siemens Healthineers was established to speed up the discovery and development of diagnostic protein biomarkers. Through this cooperation, Siemens Healthineers expertise in the development of biomarker assays, laboratory testing, and commercialization will be combined with Biognosys expertise in unbiased biomarker discovery technologies and solutions.
- The reagents & kits segment is expected to register a high revenue CAGR during the forecast period. The ease of use and simplicity of cardiac marker testing reagents and kits make them a popular choice among patients and healthcare professionals. Reagents and kits for cardiac marker testing are very affordable when compared to other diagnostic techniques. This has increased their access to more patients, driving revenue growth of the segment.
- The troponin I and T segment is expected to account for the largest revenue share during the forecast period. These diagnostics allow for early cardiac disease detection, prompt treatment start, and better patient outcomes. Growth in the market is also being driven by an increase in the usage of Point-Of-Care Testing (POCT) tools that can rapidly and correctly execute troponin I and T assays.
- Market in North America is expected to account for the largest revenue share during the forecast period. The implementation of cutting-edge medical technologies and testing is facilitating market revenue growth in North America owing to the increasing prevalence of cardiac illnesses, upgraded healthcare infrastructure, and rising healthcare spending. The development of new diagnostic techniques, such as cardiac marker testing, is also being driven by robust research and development in the medical field in North America. For instance, San Francisco, CA-based Tosoh Bioscience, Inc. released the ST AIA-PACK Brain Natriuretic Peptide (BNP) test, a novel diagnostic tool, on 09 September 2020. This assay can only be performed with Tosoh AIA System Analyzers and is specifically designed for the detection of BNP levels in human plasma that includes K2EDTA.
Top competitors of the cardiac marker testing Market profiled in the report include:
Hoffmann-La Roche Ltd, Abbott, Siemens Healthcare GmbH, Danaher, BIOMÉRIEUX, BD, Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., DiaSorin S.p.A., PerkinElmer Inc.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Emergen Research has segmented the global cardiac marker testing market on the basis of product, biomarker type, disease, end-use:
- Product Outlook (Revenue, USD Billion; 2019–2032)
- Reagents & Kits
- Biomarker Type Outlook (Revenue, USD Billion; 2019–2032)
- Troponin I and T
- Creatine Kinase –MB (CK-MB)
- Natriuretic Peptide (BNP and NT-proBNP)
- High-Sensitivity C-Reactive Protein (HSCRP)
- Disease Outlook (Revenue, USD Billion; 2019–2032)
- Myocardial Infarction
- Congestive Heart Failure
- Acute Coronary Syndrome
- End-Use Outlook (Revenue, USD Billion; 2019–2032)
- Laboratory Testing Facilities
- Academic Institutes
- Point-of-Care Testing Facilities
How will this Report Benefit you?
An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global cardiac marker testing market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for cardiac marker testing. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.
Key Objectives of the Report:
- Analysis and estimation of the cardiac marker testing market size and share for the projected period of 2023-2032
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global cardiac marker testing market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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