Cardiac Marker Testing Market worth $7.7 billion by 2027 - Exclusive Report by MarketsandMarkets™
Chicago, Nov. 29, 2022 (GLOBE NEWSWIRE) -- According to the new market research report *"**Cardiac Marker Testing Market** by Product (Reagent, Instrument), Component (Troponin I & T, CK-MB, Myoglobin, BNP, hs-CRP), Disease (Myocardial Infarction, Congestive Heart Failure, Atheresclerosis), Enduser (Lab, PoC, Academia) - Global Forecast to 2027", *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.
Browse in-depth TOC on "*Cardiac Marker Testing Market*"
*138 - Tables*
*46 - Figures*
*210 - Pages*
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*Scope of the Report:*
*Report Coverage* *Details*
Market Size USD 7.7 Billion by 2027
CAGR 8.7%
Historical Data 2020-2027
Base Year 2021
Forecast Period 2022-2027
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered By Product, By Biomarker Type, By Disease, By End User, and By Region
Geographies Covered North America (US & Canada), Europe (Germany, UK, France, Italy, Spain, and RoE), APAC (Japan, China, India, Australia, South Korea, and the RoAPAC), LATAM (Brazil, Mexico, and RoLATAM), and MEA
Key Companies Profiled/Vendors 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., among others
Key Market Opportunities Emerging markets offer high-growth opportunities
Key Market Drivers Growing incidence of cardiovascular diseases
The aging population is increasing at a faster pace globally. Aging is also associated with several medical complications, such as hypertension and high blood pressure, which are also considered major risk factors for cardiovascular disease and old age. According to the National Library of Medicine (NLM) 2020, Congestive heart failure often occurs ten times more in people aged 75 years and above than in younger adults. Additionally, the rising incidence of cardiovascular diseases, growing initiatives by government to propel the discovery of novel cardiac biomarkers and anticipated to drive the growth of the market.
However, unfavourable regulatory processes and limited reimbursement structure along with technical issues related to storage and handling of samples during biomarker investigation procedures are likely to hamper the growth of the market to certain extent.
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Based on product, the cardiac marker testing market is categorized into reagents and kits and instruments. In 2021, the reagents and kits segment are expected to account for the largest share of the market. The growing accessibility of wide range of cardiac biomarker reagents and kits, and rising volume of cardiac marker testing procedures are the key factors fueling the growth of the segment
Based on biomarker type, the cardiac marker testing market is segmented into troponin I and T, CK-MB, Bnp or Nt-Probnp, myoglobin, Hscrp, and other biomarkers. The troponin I and T segment is expected to account for the largest share of the cardiac marker testing market, by biomarker type, in 2021. The large share of this segment can be attributed to the rapid adoption of troponin biomarker owing to the increased sensitivity and specificity offered by it in comparison to other cardiac biomarkers. Cardiac testing manufacturers are introducing high-sensitivity troponin (hsTn) testing assays that allows detection of very low concentration of troponin T, helping to diagnose heart attacks rapidly. This is anticipated to support the growth of the segment
Based on disease, the cardiac marker testing market is segmented into myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and ischemia. Mycardial infarction is expected to account for the largest share of the cardiac marker testing market, by disease, in 2021. This is attributed to increasing incidence of acute myocardial infarction, ongoing research in the development of novel biomarker with increased sensitivity and accuracy for the rapid detection myocardial infarction. According to a report published by British Heart Foundation (BHF) 2022, in the UK, there are ~100,000 hospital admissions each year due to Myocardial Infarction and 260 admissions each day.
Based on end users, the cardiac marker testing market is segmented into laboratory testing facilities, academic institutions, & point-of-care testing facilities. The laboratory testing facilities segment is expected to dominate the market in 2021. The large share of this segment can be attributed to the Increased preference for laboratory testing among doctors and advantages such as increased sensitivity, high diagnostic accuracy, high throughput offered by laboratory facilities over point-of-care testing facilities. Additionally, the growing adoption of new immunoassay technologies and the presence of skilled laboratory testing professionals are likely to support the growth of the segment
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*Geographical Growth Scenario:*
Based on region, the Cardiac marker testing market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East and Africa. North America accounted for the largest share of the Cardiac marker testing market in 2021. The Asia Pacific market is estimated to register the highest growth rate during the forecast period. Some of the factors driving the market growth includes, rising incidence of cardiovascular diseases, healthcare infrastructure modernization, growing geriatric patient pool, rapid adoption of point-of-care assays among large number of hospitals and clinical testing laboratories, and growing presence of local manufacturers in the region. Additionally, increasing healthcare expenditure and ongoing collaborations & partnerships among key players to increase the brand presence in Asia Pacific countries is likely to contribute towards the significant growth of cardiac marker testing market in the Region
*Key Players:*
Prominent players in the cardiac marker testing market include 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).
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