According to Vision Research Reports, the global cardiac biomarker diagnostic kits market size surpassed at around US$ 2.3 Bn in 2019 and is projected to grow at a CAGR of 5.3% from 2020 to 2027.
The global cardiac biomarker diagnostic kits market size is expected to reach US$ 3.6 billion by 2027, rising prevalence of cardiovascular disorders across the globe and advancements in novel technologies are projected to drive the global cardiac biomarker diagnostic kits market during the forecast period.
- 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 2019 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 2020-2027 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 2019 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 2019 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 global cardiac biomarker diagnostic kits market is consolidated as few players hold major market share in global market. Key players include Abbott Laboratories, F. Hoffmann-La Roche Ltd., Danaher Corporation, Siemens Healthineers, bioMérieux SA, Ortho Clinical Diagnostics, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., among other
- Troponin Test Kits
- CK-MB Test Kits
- Myoglobin Test Kits
- BNP Test Kit
- C-reactive Protein (hsCRP)
- Other Biomarkers
- Permanent Cements
- Angina Pectoris
- Myocardial Infraction (MI)
- Cardiac Heart Failure
- Laboratory Testing
- Point-of-care Testing
- Diagnostic Laboratory
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Scope of Report
VRR’s report on the global cardiac biomarker diagnostic kits market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2019 to 2027. The report provides revenue of the global cardiac biomarker diagnostic kits market for the period 2017–2027, considering 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global cardiac biomarker diagnostic kits market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global cardiac biomarker diagnostic kits market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global cardiac biomarker diagnostic kits market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global cardiac biomarker diagnostic kits market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global cardiac biomarker diagnostic kits market.
The report delves into the competitive landscape of the global cardiac biomarker diagnostic kits market. Key players operating in the global cardiac biomarker diagnostic kits market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global cardiac biomarker diagnostic kits market that have been profiled in this report.
Key Questions Answered in Global Cardiac biomarker diagnostic kits market Report
- What is the scope of growth of product companies in the global cardiac biomarker diagnostic kits market?
- What will be the Y-o-Y growth of the global cardiac biomarker diagnostic kits market between 2019 and 2027?
- What is the influence of changing trends in changing technologies on the global cardiac biomarker diagnostic kits market?
- Will North America continue to be the most profitable market for cardiac biomarker diagnostic kits providers?
- Which factors are anticipated to hamper the growth of the global cardiac biomarker diagnostic kits market during the forecast period?
- Which are the leading companies in the global cardiac biomarker diagnostic kits market?
A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global cardiac biomarker diagnostic kits market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global cardiac biomarker diagnostic kits market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the Cardiac biomarker diagnostic kits market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the cardiac biomarker diagnostic kits market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global cardiac biomarker diagnostic kits market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global Cardiac biomarker diagnostic kits market more reliably and accurately.