Major players of the Cardiac Biomarkers Market are facing hurdles keeping their production facilities operational due to the paucity of adequate personnel and resources amidst the COVID-19 (Coronavirus) outbreak. Get a first-hand peek into the key drivers and threats to the Cardiac Biomarkers Market to make your company future-ready post the pandemic. Avail our market reports at unbelievable prices to capitalize on opportunities.
Cardiac Biomarkers Market Key Players
Key companies operating in the global cardiac biomarkers market are Abbott Laboratories, ACS Biomarker (The Netherlands), BD (Becton, Dickinson, and Company) (US), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (US), Danaher Corporation (US), Hoffmann-La Roche Ltd (Switzerland), Johnson and Johnson (US), Quidel Corporation (US), Randox Laboratories Limited (UK), Siemens AG (Germany), Thermo Fisher Scientific, Inc. (the US), Trivitron Healthcare Pvt. Ltd. (India), and Novartis (Switzerland).
Cardiac Biomarkers Market Overview
Cardiac biomarkers are often referred to as cardiac markers. The cardiac biomarkers (endogens, including enzymes, hormones, and proteins) are released into the blood if the heart is damaged or stressed. Generally, they are used to treat heart attack and acute coronary syndrome (ACS) or disorders associated with insufficient blood flow to the core
According to Market Research Future (MRFR), Cardiac Biomarkers Market is expected to cross USD 4236.02 Million 2025 at a CAGR of 16.36% by 2025 (forecast period). The research report serves as insight and knowledge repository for all market aspects including, regional markets, technology, types, and applications.
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Cardiac Biomarkers Market Dynamics
There are a variety of factors that affect the development of the demand for cardiac biomarkers. Some of the main factors include growing demand for the diagnosis and testing of various cardiovascular diseases, the production and advancement of cardiac biomarkers and the growth of the patient population suffering from cardiovascular disease. Other primary growth factors include a rise in the number of new cardiovascular cases diagnosed per year and an increase in demand for disease-specific care in which cardiac biomarkers are used. Increased prevalence of the cardiovascular disease is projected to fuel the demand for cardiac biomarkers during the forecast period. Approximately 17.7 million people die each year from cardiovascular diseases (CVDs), according to the World Health Organization, and it is estimated to be the cause of 31% of the total deaths worldwide. About 80% of all deaths from CVDs are attributed to heart attacks and strokes. Nonetheless, the demand for cardiac biomarkers is experiencing constraints due to the emergence of other methods for cardiovascular disease diagnosis, along with high procedural costs, lack of full proof assurance, and strong competition among existing players.
Cardiac Biomarkers Market Segmentation
The global cardiac biomarkers market can be classified based on type, location of testing, application, and region.
Based on type, the cardiac biomarkers market can be segmented into Myocardial muscle Creatine Kinase (CK-MB), troponins (T and I), myoglobin, Brain Natriuretic Peptide (BNPs) or NT-proBNP, ischemia-modified albumin (IMA), and others. Owing to its prodigious sensitivity and ability to reliably diagnose the heart events of an acute coronary syndrome (ACS), Troponins I and T are the leading revenue-generating segment in the global cardiac biomarkers market.
The location of testing is further segmented into point of care testing and laboratory testing. The point of care testing is projected to see steady growth in the forecast period due to its increasing popularity. The laboratory testing segment dominated the global market for cardiac biomarkers. Increased demand for cardiovascular disease diagnostics is increasing the revenue of this segment.
In terms of application, the demand for cardiac biomarkers can be divided in terms of diagnosis into congestive heart failure, myocardial infarction, acute coronary syndrome, atherosclerosis, and others.
Regionally, the cardiac biomarkers market can be classified into five regional markets, such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe dominate the global market for cardiac biomarkers due to an increasing population of patients suffering from cardiovascular disease (angina pectoris, myocardial infringement, etc.), lack of physical activity, and poor diet. Europe has one of the best healthcare services in the world, and the increasing participation of market players is boosting the European market for cardiac biomarkers. For example, in October 2019, Novartis received FDA approval for Entresto for the treatment of symptomatic heart failure in pediatric patients aged one year and older.
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The Middle East and Africa have mainly been divided into two regions: The Middle East and Africa. The presence of favourable government initiatives and recent health reforms and the development of healthcare infrastructure in the Middle East is expected to increase market growth over the forecast period. Moreover, India, Southeast Asia, and China are evolving markets for cardiac biomarkers due to an increased incidence of coronary artery disease in these regions. Initiatives by the Government of Asia-Pacific towards the development of health care infrastructure are also expected to boost the growth of the market for cardiac biomarkers in the region.
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