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Cardiac Marker Testing Market by Product, Component, Disease, Enduser - Global Forecasts to 2025

Cardiac Marker Testing Market by Product, Component, Disease, Enduser - Global Forecasts to 2025

  • January 2021
  • 163 pages
  • ID: 4263042
  • Format: PDF
  • MarketsandMarkets

Summary

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The global cardiac marker testing market size is projected to reach USD 5.5 billion by 2025 from USD 3.6 billion in 2020, at a CAGR of 8.9%. The growth in the cardiac marker testing market is majorly driven by the growing incidence of cardiovascular diseases, rapidly increasing geriatric population, growing funding from public and private organizations for research on cardiac biomarkers, and ongoing clinical trials for the identification of novel cardiac biomarkers. However, factors such as technical problems related to sample collection and storage and issues related to regulatory and reimbursement systems are expected to restrain market growth to a certain extent.

The cardiac marker testing market is also faced a period of short-term negative growth, which can be attributed to factors such as a greater than 50% drop in the number of patients with cardiovascular conditions and those diagnosed with myocardial infarction. All areas of cardiology service provision sustained significant reductions, which included outpatient clinics, investigations, procedures, and cardiology community services such as cardiac rehabilitation.

Wide use of reagents and kits in all basic diagnostic activities in laboratories, academic institutes, and POC settings is expected to result in the segment occupying the majority of the cardiac marker testing market share
Growing number of cardiac marker testing procedures, accessibility to a wide range of cardiac biomarker reagents and kits, and the growing demand for reliable, specific, and faster detection of cardiovascular diseases at an early stage are the key growth factors for this segment.

Troponin I and T estimated to be the fastest-growing market “
Troponin I and T is estimated to be the fastest-growing segment in the cardiac marker testing market. The large share of this segment can be attributed high sensitivity and specificity, long elevation times, and rapid prediction of outcome or mortality.

The Asia Pacific market to grow at the highest CAGR during the forecast period
The cardiac marker testing market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.Asia Pacific is estimated to be the fastest-growing market for cardiac marker testing during the forecast period.

The Asia Pacific market is driven due increased healthcare spending by a larger population base, healthcare infrastructure modernization, and the rising penetration of cutting-edge clinical laboratory technologies (especially in rural areas) in Asia Pacific countries.

Breakdown of supply-side primary interviews:
• By Company Type: Tier 1: 48%, Tier 2: 36%, and Tier 3: 16%
• By Designation: C-level: 10%, D-level: 14%, and Others: 76%
• By Region: North America: 40%, Europe: 32%, APAC: 20%, Latin America: 5%, and the Middle East & Africa: 3%

The major players operating in the cardiac marker testing market are Roche Diagnostics Ltd. (Switzerland), Abbott Laboratories (US), Siemens Healthineers AG (Germany), Danaher Corporation (US), bioMérieux SA (France), LSI Medience Corporation (Japan), Ortho Clinical Diagnostics (US), Randox laboratories Ltd. (UK), Guangzhou Wondfo Biotech Co., Ltd (China), DiaSorin S.p.A. (Italy), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), PerkinElmer Inc. (US), Thermo Fisher Scientific Inc. (US), and Tosoh Corporation (Japan)

Research Coverage
This report studies the cardiac marker testing market based on the product, biomarker type, disease, end user, and region.The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders.

Furthermore, the report analyzes micromarkets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).

Key Benefits of Buying the Report
This report focuses on various levels of analysis—industry trends, market share of top players, and company profiles, which together form basic views and analyze the competitive landscape, emerging segments of the cardiac marker testing market, and high-growth regions and their drivers, restraints, opportunities, and challenges. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.

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