"The high prevalence rates of cardiovascular diseases worldwide and the rise in popularity in POC cardiac testing kits are expected to fuel the market growth"
The cardiac biomarkers market was estimated to reach USD 4.7 billion in 2015. Cardiac biomarkers refer to the substances released in the bloodstream due to heart-related damage or stress, mainly caused by insufficient blood flow. The quantification of biomarkers is employed for the diagnosis of various heart conditions, such as Acute Coronary Syndrome (ACS), Acute Myocardial Infarction (AMI), ischemia, Congestive Heart Failure (CHF), and others.
The cardiac biomarkers market is expected to witness significant growth in the near future owing to the high prevalence of cardiovascular diseases worldwide (17.5 million worldwide, according to the World Health Organization). According to Everyday Health Media, LLC, in the U.S., ACS cases are reported every second. The high worldwide prevalence of ACS acts as one of the major factors driving the growth rate of the market. Furthermore, the market is expected to grow significantly due to the progressive development of biomarkers, increasing the preference for Point of Care (PoC) cardiac testing kits, and the high specificity and sensitivity of these biomarker-based tests for efficient and accurate diagnosis of cardiovascular disorders.
"Troponin cardiac biomarkers segment is anticipated to witness the highest growth"
The cardiac biomarkers market, by type, is classified into troponin, Creatine kinase-MB (CK-MB), Natriuretic peptides - B-type Natriuretic Peptide (BNP) &N-terminal pro b-type Natriuretic peptide (NT-proBNP), myoglobin, and others. Troponin tests are growing into a very lucrative market owing to their benefits in the identification of AMI and their efficiency in timely and accurate diagnosis of cardiovascular disorders in comparison to the other tests, which aids in averting adverse cardiac events. On the other hand, natriuretic peptides are expected to be the second largest segment due to its efficiency in accurately diagnosing CHF.
"Acute coronary syndrome is anticipated to be the most lucrative segment contributing to the growth of the cardiac biomarkers market"
The cardiac biomarkers market, by application, is segmented into ACS, AMI, CHF, and others. The cardiovascular biomarkers employed in the diagnosis of ACS are expected to form the highest grossing segment. High ACS incidence poses an immense economic and social global burden. Americans incur an estimated amount of USD 150 billion for the treatment of ACS. Myocardial infarction, on the other hand, is expected to be the second largest segment, which is attributable to factors, such as the increasing base of geriatric population, the prevalence of an unhealthy & sedentary lifestyle among individuals, smoking & alcohol consumption, and unhealthy food habits, inevitably leading to obesity.
"PoC testing end-use segment is expected to witness significant growth in the study period"
The cardiac biomarkers market, by end-use, is categorized into laboratory testing and point of care testing (PoC). The rising demand for PoC testing acts as a significant market driver, nurturing the growth of the cardiac biomarkers market. The increasing popularity of PoC diagnostics in the developed economies is attributed to the implementation of the Affordable Care Act in the U.S., which favored the acceptance of personalized medicine and diagnostics in this region. PoC test kits are small and handy, offering ease-of-use and convenience, thus making them a popular equipment in the home healthcare segment.
"Asia Pacific is the fastest regional cardiac biomarkers market"
The key regions considered in the cardiac biomarkers sector are North America, Europe, Asia Pacific, Latin America, and the Middle East &Africa. North America is estimated to dominate the market in terms of revenue share of the total market. The significant disease burden stemming from the high incidence of CHD in North America and the increasing popularity of PoC diagnostics is expected to contribute to the demand for cardiovascular disease diagnostics.
Asia Pacific region is forecasted to exhibit the fastest growth rate due to the large population of approximately4.2 billion people and the high prevalence of cardiovascular diseases in this region. This fast-paced growth is expected to drive the emergence of the cardiac biomarkers vertical in the APAC region.
"New product launch is the key strategy adopted by major companies"
Some of the major players leading the sector are Alere, Inc., Siemens Healthcare GmbH, Roche Diagnostics, Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, bioMérieux SA, Bio-Rad Laboratories, Inc., and Randox Laboratories Ltd. These companies are focused on achieving growth through the development of innovative product designs & new tests and improving upon the specificity of the tests. For instance, Alere, Inc. manufactures the Alere triage panel, which is a combination of three prominent biomarkers CK-MB, myoglobin, and troponin I. This test is handy, convenient to use, and is popular due to it being a combination product &an efficient PoC cardiac testing kit.
Avail customized purchase options to meet your research needs:
Get your queries resolved from an industry expert. Request for a free product review before report purchase.
Speak to the report author to design an exclusive study to serve your research needs.
A testimonial for service excellence represented in the form of BBB "A" Accreditation.
Your personal and confidential information is safe and secure.