Cardiac Biomarker Diagnostic Kits Market Size, Share, Growth, Trends, Revenue, Consumption, Company Analysis and Forecast 2020-2027

Published Date : Aug 2019 | No. of Pages : 200 Pages | Category : Healthcare

The global cardiac biomarker diagnostic kits market size surpassed US$ 2,180 million in 2019. It is anticipated to reach US$ 3,500 million by 2027, expanding at a CAGR of 5.8% from 2020 to 2027.

Chest pain is a common emergency department (ED) presentation accounting for 8-10 million visits per year in the U.S. The increasing number of patient visits in the emergency department is expected to create growth opportunities for the cardiac biomarker diagnostic test kits market. Obesity has become a global health challenge in the past few decades, with every sixth person being obese. According to the WHO, the number of obese population around the globe has doubled in the last two decades. The growing obese population, which is at a high risk of developing cardiovascular diseases, is expected to consequently increase the demand for cardiac biomarker diagnostic test kits. Moreover, the leading manufacturers of cardiac biomarker diagnostic test kits are focusing on collaborating with universities and associations to develop and expand their product portfolio. On the other hand, less availability of novel cardiac biomarker diagnostic test kits due to tedious approval procedures is expected to hamper the growth of the cardiac biomarker diagnostic test kits market over the next decade.

Overview

  • Cardiac biomarkers are also called cardiac markers. In a condition when the heart is damaged or stressed, cardiac biomarkers (endogenous substances including enzymes, hormones, and proteins) are released into the blood.
  • Generally, cardiac markers are used to diagnose heart attack and acute coronary syndrome (ACS) or conditions associated with insufficient blood flow to the heart. These markers are also utilized in the diagnosis and risk stratification of patients with chest pain.
  • Among cardiac biomarker tests, troponin is the biomarker test of choice for detecting heart damage. The test is performed with a blood sample using a needle to draw blood from a vein in the hand or arm. Troponin is elevated within a few hours of heart damage and stays elevated up to two weeks.
  • There are other established biomarkers, such as myoglobin (test used along with troponin for early detection of heart attack) and creatinine kinase isoenzymes (also called cardiac enzyme, which is linked with injury of heart muscle and detection of a second heart attack anticipated shortly after the first)

Rise in prevalence of cardiovascular diseases across the world to Drive Market

  • Growing prevalence of cardiovascular diseases across the world is the major driver for the growth of global cardiac biomarker diagnostic kits market.
  • For instance, the American Heart Association estimated that 121.5 million adults had cardiovascular diseases between 2013 and 2016
  • Advancements in novel technologies and increasing government funding for cardiovascular disease treatment are some of the major factors responsible for the growth of global cardiac biomarker diagnostic kits market
  • Moreover, early detection to track the heart condition and integration of cardiology & IT are also some of the major factors fuelling the growth of global cardiac biomarker diagnostic kits market

Troponin Test Kits Segment to Dominate Market

  • Based on product, the global cardiac biomarker diagnostic kits market has been segmented into troponin test kits, CK-MB test kits, myoglobin test kits, BNP test kits, C-reactive Protein (hsCRP), and other biomarkers
  • Troponin test kits segment is accounted for major market share in global cardiac biomarker diagnostic kits market in 2018
  • Growth of troponin test kits segment can be ascribed to its prodigious specificity and ability to accurately detect the cardiac events of acute coronary syndrome (ACS).

Cardiac Heart Failure – Promising Application Segment

  • In terms of application, the global cardiac biomarker diagnostic kits market has been divided into angina pectoris, myocardial infarction (MI), cardiac heart failure, and others
  • Angina pectoris dominated the global market in 2018 and is projected to dominate by the end of 2027 due to high incidence rate of angina pectoris across the globe
  • Cardiac heart failure is more lucrative segment during the forecast period which is growing with a higher CAGR during the same period of 2019-2027 owing to rise in number of patient cases for cardiac heart failure across the world

Pont-of-care testing Segment– Higher Growth Rate

  • On the basis of testing, the global cardiac biomarker diagnostic kits market has been bifurcated into laboratory testing, and point-of-care testing
  • Point-of-care testing is more promising segment which is expected to grow with higher CAGR during the forecast period.
  • Easy accessibility of point-of-care testing, increase in preference for point-of-care testing, and new kits & assays being offered by market players for rapid tests are expected to drive the point-of-care testing segment during the forecast period.

Diagnostic Laboratory End-user Segment- Major Market Share

  • Based on end-user, the global cardiac biomarker diagnostic kits market has been segmented into hospitals, clinics, and diagnostic laboratory
  • Diagnostic laboratory segment dominated the global cardiac biomarker diagnostic kits market in 2018 due to rise in hospital admissions for dental procedures, favorable reimbursement scenario, and increase in number of advanced diagnostic laboratories in the last decade which has led to a higher number of diagnostic tests being performed at these settings

North America to Dominate Global Market

  • In terms of region, the global cardiac biomarker diagnostic kits market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
  • North America accounted for major share of the global cardiac biomarker diagnostic kits market in 2018 due to higher cardiovascular disease patient population, significant average selling price of analyzers, rise in demand for technologically advanced diagnostic instruments with enhanced specificity and precision among cardiologist, and favorable coverage as per the Clinical Laboratory Improvement Amendments for in-vitro diagnostic procedures in the region
  • For instance, an article published in the Medscape states that more than 9.8 million people in the U.S. experience symptoms of angina, annually, and more than 500,000 cases are registered every year
  • The cardiac biomarker diagnostic kits market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be ascribed to growing aging population, developing health care infrastructure, large patient population, increase in funding and investment toward the development of cardiac analyzers, and surge in focus of both international and domestic players in the region.

The report analyzes and forecasts the cardiac biomarker diagnostic kit market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report comprises a detailed value chain analysis, which provides a comprehensive view of the global cardiac biomarker diagnostic kit market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the cardiac biomarker diagnostic kit market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides size (in terms of volume and value) of cardiac biomarker diagnostic kit market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

Companies Mentioned in the Report

The report profiles major players operating in the global Cardiac Biomarker Diagnostic Kits market in terms of attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Major companies profiled in this report include Abbott Laboratories, Hoffmann-La Roche AG, Bio-Rad Laboratories, Danaher Corporation, Seimens Healthineers, Thermofisher Scientific, bioMérieux, Randox Laboratories Ltd., and Ortho Clinical Diagnostics. 

Market Segmentation

By Disease Indication

  • Angina pectoris
  • Myocardial Infraction (MI)
  • Cardiac Heart Failure
  • Others

By Product

  • Troponin Test Kits
  • CK-MB Test Kits
  • Myoglobin Test Kits
  • BNP Test Kit
  • C-reactive Protein (hsCRP)
  • Other Biomarkers (galectin-3, H-FABP, myeloperoxidase, ischemia-modified albumin, and homocysteine)

By Testing

  • Laboratory Testing
  • Pont-of-care Testing

By End-user

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Others

By Region

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • U.K
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • Australia & New Zealand
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Reasons to Purchase this Report:

- Estimates 2019-2026 cardiac biomarker diagnostic kit market development trends with the recent trends and SWOT analysis
- Market dynamics scenario, along with growth opportunities of the market in the years to come
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.

Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.

The study objectives of this report are:

  • To analyze and study the global cardiac biomarker diagnostic kit capacity, production, value, consumption, status (2014-2018) and forecast (2019-2026);
  • Focuses on the key cardiac biomarker diagnostic kit manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Focuses on the global key manufacturers, to define, describe and analyze the market competition landscape, SWOT analysis.
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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