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Cardiac Marker Testing Market by Product, Component, Disease, Enduser - Global Forecast to 2027

Cardiac Marker Testing Market by Product, Component, Disease, Enduser - Global Forecast to 2027

  • October 2022
  • 205 pages
  • ID: 4263042
  • Format: PDF
  • MarketsandMarkets

Summary

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The global cardiac marker testing market is projected to reach USD 7.7 Billion by 2027 from USD 5.0 Billion in 2022, at a CAGR of 8.7% during the forecast period. The growth in the cardiac marker testing market is majorly driven by the significant rising cases of cardiovascular diseases, rapid growth in older population, and increasing research & funding initiatives from public/private organizations to discover novel cardiac biomarkers with improved efficacy for diagnosing heart conditions. According to the American Heart Association (AHA), the prevalence of CVD in the US is projected to reach 40.5% of the total population by 2030, from 36.9% in 2010.
However, technical problems associated with sample collection and storage and issues related to regulatory and reimbursement systems are some of the factors expected to restrain market growth to a certain extent.

Troponin I and T estimated held the largest share of cardiac marker testing market in 2021, by Biomarker Type “

Based on biomarker type, the cardiac marker testing market is segmented into Troponin I and T, Creatine Kinase-MB (CK-MB), Natriuretic Peptide (BNP and Nt-proBNP), Myoglobin, High-sensitivity C-reactive Protein (hs-CRP), and other cardiac biomarkers. The Troponin I and T segment accounted for the largest share of 51.1 % of the cardiac marker testing market in 2021.
Factors such as high sensitivity and specificity, long elevation time (rises over 4-8 hours, peaks at 10-24 hours, and declines over ten days), and rapid prediction of outcomes are driving the growth of this segment. In addition, lab technicians are more familiar with the use of these markers as compared to other biomarkers

Laboratory testing facilities segment accounted for the largest share of the cardiac marker testing market in 2021, by End user ”.
Based on end users, the cardiac marker testing market is segmented into laboratory testing facilities, academic institutes, and point-of-care testing facilities. In 2021, the laboratory testing facilities segment accounted for the largest share of 61.4% of the global cardiac marker testing market. Factors such as high testing throughput, better sensitivity & diagnostic accuracy compared to POC testing, and high preference for laboratory testing over POCT testing are driving the growth of this segment.

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 rising growing investments by government agencies in emerging countries of Asia Pacific for the improvement of healthcare infrastructure, growing number of independent clinical laboratories, presence of large patient population, and strategies adopted by players to increase their cardiac testing product reach in Asia Pacific.

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 F.Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), PerkinElmer, Inc. (US), bioMérieux SA (France), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), DiaSorin (Italy), and Tosoh Corporation (Japan), LSI Medience Corporation (Japan), Quidel Corporation (US), Randox Laboratories (UK), Guangzhou Wondfo Biotech Co., Ltd. (China), Boditech Med Inc. (South Korea), Tulip Diagnostics (P) Ltd (India), BTNX Inc. (Canada), Response Biomedical (Canada), Alfa Scientific Designs, Inc. (US), CTK Biotech, Inc. (US), Creative Diagnostics (US), LifeSign LLC. (US), CardioGenics Holdings Inc (Canada), and Atlas Medical GmbH (Germany).

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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