Dublin, April 19, 2024 (GLOBE NEWSWIRE) -- The "Cardiac Marker Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global cardiac marker market has grown rapidly in recent years. It will grow from $10.4 billion in 2023 to $11.55 billion in 2024 at a compound annual growth rate (CAGR) of 11%. The growth observed in the previous period can be attributed to several key factors. These include a notable increase in the incidence of cardiovascular diseases, the demographic shift toward an aging population, heightened awareness programs and health screenings aimed at cardiovascular risks, the integration of biomarkers into clinical practice for improved diagnostics, and the establishment of stringent regulatory standards and guidelines governing cardiac diagnostics. These factors collectively contributed to the growth witnessed during that timeframe within the realm of cardiac markers and diagnostics.
The cardiac marker market is expected to see rapid growth in the next few years. It will grow to $18.08 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. Anticipated growth in the upcoming period is expected to stem from several influential factors. These encompass the escalating burden associated with lifestyle-related diseases, the increasing adoption of remote monitoring and telemedicine practices, the shift towards personalized medicine and precision diagnostics, the widespread adoption of point-of-care testing (POCT), and a surge in collaborations and partnerships within the healthcare landscape.
The projected surge in the cardiac marker market is strongly driven by the escalating prevalence of cardiac diseases. For instance, the British Heart Foundation reported an alarming increase of 30,000 deaths from coronary heart disease in England from the pandemic's onset to August 2022. Moreover, a staggering 346,000 individuals were on cardiac waiting lists by August 2022. Hence, the escalating prevalence of cardiac diseases significantly fuels the growth of the cardiac marker market.
The escalating demand within diagnostic centers stands as a pivotal driver for the cardiac marker market's growth trajectory. For instance, according to GOV.UK, the year 2022 witnessed 73 diagnostic centers conducting an additional 30,000 tests per week, with projections suggesting a potential increase to 160 community diagnostic centers by 2025. Consequently, the surging demand within diagnostic centers is steering the growth of the cardiac marker market.
Innovation emerges as a significant trend gaining traction within the cardiac marker market, with major players focusing on pioneering solutions to fortify their market presence. For example, MiRxes, a Singapore-based biotechnology firm, recently validated a microRNA-based diagnostic test designed for early detection and diagnosis of illnesses. The forthcoming commercialization of this test will complement MiRxes' portfolio of blood tests for various conditions, aiming to alleviate the mounting clinical and socioeconomic burdens associated with life-threatening diseases, including cancer and cardio-pulmonary disorders.
Leading companies in the cardiac marker market prioritize innovative products, such as high-sensitivity troponin I (hs-cTnI) and NT-proBNP cardiac biomarkers, to drive market revenue. These biomarkers play crucial roles in diagnosing, categorizing, and treating cardiovascular ailments. For instance, in October 2023, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., a prominent China-based medical equipment and solutions provider, launched troponin I (hs-cTnI) and NT-proBNP cardiac biomarkers. The hs-cTn assay surpasses minimal sensitivity, accuracy, and reliability requirements, aiding in identifying myocardial damage. These advanced products aim to enhance treatment approaches for cardiovascular diseases, offering dependable solutions to improve patient outcomes in both cardiovascular and related health contexts.
In April 2023, Abbott Laboratories, a US-based healthcare company acquired Cardiovascular Systems Inc. for an undisclosed amount. With this acquisition, Abbott will be able to better serve patients with peripheral and coronary artery disease by offering a novel and cutting-edge therapy for those with complicated cardiovascular disease. Through this acquisition, Abbott is able to expand the range of cutting-edge vascular devices it offers doctors, giving them more resources to assist patients. Cardiovascular Systems Inc. a US-based medical technology company.
North America was the largest region in the cardiac marker market in 2023. The regions covered in the cardiac marker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cardiac marker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Markets Covered:
1) By Biomarker: Troponin; Creatine Kinase-MB (CK-MB); B-type Natriuretic Peptide (BNP); Myoglobin; Other Biomarkers
2) By Product: Reagent; Instrument; Chemiluminescence; Immunofluorescence; Immunochromatography; ELISA
3) By Indication: Myocardial Infarction; Congestive Heart Failure; Acute Coronary Syndrome; Other Indications
4) By End User: Laboratory Testing Facilities; Hospital Labs; Reference Labs; Contract Testing Labs; Point-Of-Care Testing Facilities; Academic Institutions
Key Companies Mentioned: Abbott Laboratories Inc.; Siemens AG; Danaher Corporation; bioMerieux SA; F. Hoffmann-La Roche AG
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
A selection of companies mentioned in this report includes, but is not limited to:
- Abbott Laboratories Inc.
- Siemens AG
- Danaher Corporation
- BioMerieux SA
- F. Hoffmann-La Roche AG
- Beckman Coulter Inc.
- Bio-Rad Laboratories Inc.
- Thermo Fisher Scientific Inc.
- Guangzhou Wondifo Biotech Co. Ltd.
- Creative Diagnostics
- PerkinElmer Inc.
- Tosoh Corporation
- Quidel Corporation
- Randox Laboratories Ltd.
- Getinge Group
- LSI Medience Corporation
- Ortho Clinical Diagnostics
- DiaSorin
- Advanced Sterilization Products Services Inc.
- 3M Company
- Belimed AG
- Cantel Medical Corporation
- MELAG Medizintechnik GmbH & Co. KG.
- Atom Medical Corporation
- Bionet America Inc.
- Bistos Inc.
- CareFusion Corporation
- Clinical Innovations LLC
- Abcam plc
- General Electric Company
For more information about this report visit https://www.researchandmarkets.com/r/alsghl
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