CAGR: 8%Current Market Size: USD 4 BillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The Global Cardiac Biomarkers Testing market is expected to grow from USD 4 billion in 2022 to USD 7.4 billion by 2030, at a CAGR of 8% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the rising incidences of cardiac attacks.
A blood test called an enzyme marker test measures particular biological markers, or biomarkers, in your blood. The presence of elevated or high levels of cardiac enzymes may indicate a heart attack or other heart condition. The term "cardiac biomarker" also refers to heart enzymes. Cardiac biomarkers assist medical professionals in determining whether a heart attack (myocardial infarction), angina, heart failure, or another issue is to blame for a patient's symptoms. Increases in cardiac enzymes might indicate myocardial ischemia or acute coronary syndrome (ACS). These conditions are treated in various ways. Making sure you receive the right care depends on a precise diagnosis. Healthcare professionals measure cardiovascular marker levels to Screen for heart disease and other issues. Determine the aetiology of cardiac disorders that result in symptoms including shortness of breath, angina, and chest pain, among others.
A blood sample must be taken for a cardiac enzyme marker test. It only takes a few minutes to draw blood. A hospital's emergency room or other medical facility draws blood in an emergency. The test may be performed at a blood testing lab or at your healthcare practitioner's office in less urgent circumstances. Cardiac biomarkers come in a variety of forms. They are all either proteins or enzymes. Elevated heart enzyme levels may indicate cardiovascular disease or other heart issues. The only organ that produces troponin is the heart, hence the main test used by medical professionals to identify heart damage from a heart attack or ACS is a biomarker test for this enzyme. After a heart attack, troponin levels might increase for up to 12 hours.
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Market Dynamics:
Drivers:
The market for cardiac biomarkers testing is expanding due to factors like rising healthcare costs, partnerships and collaborations between large players, and increased R&D. For instance, HeartFlow declared on July 15, 2021, that it would combine with Longview Acquisition Corp. II to become a publicly traded business. Through this merger, HeartFlow will be able to broaden its user base and advance its objective to revolutionize the continuum of treatment for people with heart disease. The leading companies in the sector are motivated by various strategies and concentrate on developing new test types and ongoing technology breakthroughs and product modifications. For instance, Abbott introduced the RX Implantable Cardiac Monitor (ICM) in May 2019, which monitors heartbeat to track heart rhythm.
Restraints:
A team of highly certified, skilled, and experienced healthcare experts is needed to carry out an efficient cardiac catheterization operation because it is a challenging treatment that demands high precision and accuracy. It is anticipated that throughout the projection period, the market expansion will be somewhat constrained by a dearth of skilled specialists to perform coronary angiograms, particularly in emerging nations due to the absence of comprehensive training programs. According to a study by NCBI, approximately one million cardiac catheterization procedures will be performed annually on July 26. Despite significant advancements in cardiac catheterization equipment, improved operator skills, and adoption of cutting-edge procedures, patients’ and procedure-related issues still occur.
Opportunities:
Heart failure, myocardial infarction, acute coronary syndrome, and other cardiovascular disorders can all be detected and diagnosed early due to cardiac biomarkers. The World Health Organization (WHO) estimates that 32.4 million myocardial infarctions or strokes occur each year around the world. In addition, over 2.5 million hospitalizations globally are related to acute coronary syndrome (ACS), a frequent consequence of coronary heart disease. Thus, it is projected that the increased prevalence of cardiovascular disorders will spur demand for early detection and hasten the implementation of cardiac biomarker tests.
Challenges:
Cardiovascular biomarkers are utilized in epidemiology research to investigate various illness stages in people. This technique necessitates careful management and storage of priceless biological samples to get the most information out of a small number of samples. A strict quality check is required for these samples to provide the proper storage conditions and prevent data loss. The quality of the samples and how they are collected, handled, and stored will determine how successfully cardiac biomarker studies employing archived specimens are conducted. The total market for cardiac biomarkers, particularly laboratory-based testing, is projected to experience growth challenges due to technical problems with sample collection and storage.
Segmentation Analysis:
The global Cardiac Biomarkers Testing market has been segmented based on biomarker type, application, end-user, and region.
By Biomarker Type
The biomarker type segment includes troponin, Creatine Kinase-Mb, B-Type Natriuretic Peptide, and Others. The troponin segment led the Cardiac Biomarkers Testing market with a market share of around 29% in 2022. Compared to other tests, the diagnostic efficiency, specificity, and accurate prediction detection of cardiac events drive the segment’s growth. The global increase in myocardial infarction and stroke rates also helps the segment's growth. Due to its application in detecting stress and cardiac injury, the BNP and NT-proBNP segment is anticipated to grow significantly. For instance, LumiraDx Limited announced in June 2022 that its CE Mark for the D-Dimer and NT-proBNP tests would diversify its range. By the end of 2022, it is anticipated that the latter will be commercially available, which should make clinical decision-making easier.
By Application
The application segment includes acute coronary syndrome, congestive heart failure, myocardial infarction, and others. The acute coronary syndrome segment led the Cardiac Biomarkers Testing market with a market share of around 33% in 2022. The market is growing due to the sharp increase in disease burden in low- and middle-income nations relative to high-income countries. Rapid urbanization and a rise in sedentary jobs contribute to the disease's prevalence. The most common diagnostic tests used to identify the condition are cardiac troponin T and I biomarker testing.
By End-User
The end user segment is pathology labs, hospitals, and others. The pathology labs segment led the largest share of the Cardiac Biomarkers Testing market with a market share of around 39% in 2022. Most of the diagnosis of diseases using biomarkers is made in pathology, which increases the demand for cardiac biomarker testing in pathology labs. The demand for cancer biomarkers in pathology labs is increasing owing to their high sensitivity, specificity, scalability, and cost-effectiveness. Additionally, these labs make it possible to test any kind of sample, which are essential for clinical decision-making.
Global Cardiac Biomarkers Testing Market- Sales Analysis.
The sale of cardiac biomarkers testing market expanded at a CAGR of 7.9% from 2016 to 2022.
With the increasing prevalence of heart attacks and companies are spending money on R&D to create improved solutions for the Cardiac Biomarkers Testing industry. Due to the high prevalence of acute coronary syndrome, technological advancements in cardiac biomarkers testing, increasing demand for point-of-care (POC) cardiac testing kits, and high specificity in the detection of cardiac diseases, particularly myocardial infarction, cardiac biomarkers are experiencing growth. The need is also being fueled by the increased use of cardiac biomarkers in SARS-CoV-2 patients to reduce the risk of heart disorders. For instance, according to NCBI in 2021, increased levels of cardiac injury biomarkers were found in difficult COVID-19 patient cases, and these biomarkers were directly linked to poor illness prognoses. As a result, the use of cardiac biomarkers made it possible to manage patients with advanced illnesses.
A variety of combination tests that identify the presence of biomarkers are also included in cardiac test kits, making it easier to diagnose heart problems. These kits are in higher demand since they enable speedy diagnosis and prompt results, which cut down on the amount of time needed for diagnosis and speed up the healing process. Additionally, they aid in identifying risk factors before bad cardiac events happen and diagnose chest pain.
The prevalence of cardiovascular illnesses is predicted to rise, accelerating segment growth. According to the WHO, 17.9 million deaths globally from cardiovascular illnesses will occur annually by 2021, accounting for 32% of all fatalities. In the United States, cardiovascular illnesses constitute the main cause of mortality and morbidity. Since they help to understand the pathophysiology of cardiovascular disorders better, businesses are currently concentrating on identifying cardiac biomarkers. Roche Diagnostics' Elecsys Troponin T-Gen 5 STAT, a cardiac biomarker, provides data in 9 minutes and aids in prompt decision-making.
Thus, owing to the aforementioned factors, the global cardiac biomarker testing Market is expected to grow at a CAGR of 8% during the Projection period from 2023 to 2030.
Global Cardiac Biomarkers Testing Market- By Regional Analysis:
The regions analyzed for the Cardiac Biomarkers Testing market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the Cardiac Biomarkers Testing market and held a 39% share of the market revenue in 2022.
Global Cardiac Biomarkers Testing Market- Country Analysis:
Germany's Cardiac Biomarkers Testing market size was valued at USD 0.31 billion in 2022 and is expected to reach USD 0.49 billion by 2030, at a CAGR of 6% from 2023 to 2030. The region's market is growing due to the steady increase in people suffering from conditions including peripheral artery disease and coronary artery disease, among others. According to data published by the European Union, cardiovascular diseases were the leading cause of death in Germany on March 21, 2022. Additionally, technical developments enable portable characteristics in testing equipment, supporting the expansion of the market's revenue.
China’s Cardiac Biomarkers Testing’ market size was valued at USD 0.59 billion in 2022 and is expected to reach USD 1.05 billion by 2030, at a CAGR of 7.5% from 2023 to 2030. Due to the high prevalence of heart disease in some areas and the substantial patient population needing treatment in nations like China, the market in the region is growing. According to a report released by BioSpectrum on June 23, 2022, the number of heart attacks among people under 50 has dramatically grown in China over the past ten years. All age groups, including those under 50, have shown a rise in the age-specific incidence rate of heart attacks per 100,000 persons.
India's Cardiac Biomarkers Testing market size was valued at USD 0.36 billion in 2022 and is expected to reach USD 0.61 billion by 2030, at a CAGR of 7% from 2023 to 2030. Over the Projection period, it is expected that the rising prevalence of cardiovascular diseases, improved healthcare facilities, the presence of major market players, and higher investment in research and development activities in the region will significantly impact the market for cardiac biomarker testing.
Key Industry Players Analysis:
To increase their market position in the global Cardiac Biomarkers Testing business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
8% |
Market Size |
4 billion in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Biomarker Type, By Application, By End-User, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Beckman Coulter, Inc, F. Hoffmann-La Roche Ltd, Abbott, bioMérieux SA, Thermo Fischer Scientific Inc, Bio-Rad Laboratories Inc, Eurolyser Diagnostica GmbH, Diagnostic Automation / Cortez Diagnostics, Inc, Randox Laboratories Ltd, Tosoh Corporation, DIALAB GmbH, CardioGenics Holdings Inc, Lepu Medical Technology (Beijing) Co. Ltd., Biosynex, and Siemens Healthcare GmbH. |
By Biomarker Type |
|
By Application |
|
By End-User |
|
Regional scope |
|
Scope of the Report
Global Cardiac Biomarkers Testing Market By Biomarker Type:
Global Cardiac Biomarkers Testing Market By Application:
Global Cardiac Biomarkers Testing Market By End-User:
Global Cardiac Biomarkers Testing Market by Region:
Global Cardiac Biomarkers Testing market size is USD 4 billion in 2022.
The global market for Cardiac Biomarkers Testing is expected to grow at a CAGR of 8% over the Projection period.
Global Cardiac Biomarkers Testing market is hampered owing to a lack of professionals.
Pathology labs dominated the Cardiac Biomarkers Testing market in the end users.
The North American region accounted for the highest Cardiac Biomarkers Testing market share.
Political Factors- Several variables affect the profitability of the worldwide cardiac biomarkers testing market. Politics-related factors that could affect the industry include changes to tax laws, consumer protection, employment laws, and insurance obligations. For instance, a change in tax laws may need a strategy modification that either capitalizes on increasing government healthcare spending or accounts for decreased government subsidies. A significant shift in the workforce and overtime requirements may also result from changes in employment law, such as the 2016 legislation that affected employee overtime requirements.
Economical Factors- Examples of economic problems impacting healthcare companies' financial performance include unemployment, inflation, and interest rates. These shifting situations may impact the general public's purchasing power and expenditure policies. For instance, if a business produces cardiac biomarkers for healthcare, a high unemployment rate will result in fewer people being able to make purchases. Additionally, if fewer people can work, they will not be eligible for employment benefits, such as healthcare.
Social Factor- The cardiac biomarkers sector should be able to recognize shifts in the values, attitudes, and demography of your different consumer groups. To avoid going against accepted beliefs or conventions, a manufacturer, for instance, should be aware of the society it serves. These kinds of elements must be considered in the company's marketing plan as well. The effectiveness of marketing will increase, and it will positively affect performance if you use content that demonstrates alignment with a particular sociocultural set of beliefs/values.
Technological Factors- Cardiac biomarkers are expanding, and one factor driving to this expansion is increased R&D spending by healthcare companies. Spending on R&D and the release of new medications have both increased during the past 20 years. For instance, Investments in healthcare innovation are boosting contributions to the American economy and strengthening the nation's reputation as a leader in medical innovation. The current IQVIA report, which reflects trust in scientific innovation to address unmet health needs, states that investment in future medical advances grew in 2018. In 2018, venture capital firms made over $23 billion in investments, and the 15 top pharmaceutical corporations spent over $100 billion on R&D for the first time, an increase of 32% over the previous five years. A few technological characteristics are the speed of technological advancement, automation, R&D initiatives, and technology incentives. Today, technology is all around us, and the development of new technologies is likely to affect the industry.
Environmental Factors- For firms that assemble cardiac biomarkers, environmental sustainability measures have financial and environmental advantages. Environmentally friendly building designs are now being sought after by many firms, and waste disposal practices are also being scrutinized. Corporate social responsibility (CSR), which ought to be a significant component of any business plan, is demonstrated by leadership in green environmental practices. Implementing the closed-loop, the circular economy approach is starting to become the standard in several nations. Industries with enabling institutional frameworks facilitate material recycling and reuse.
Legal Factors- Laws pertaining to consumer protection, antitrust, employment, and health and safety regulations are only a few of them. These factors could affect a business' operations, costs, and product demand. Failure to abide by the new regulations and legal processes governing cardiac biomarkers could result in the immediate demise of a business and a market. The overall plan should consider the legal repercussions of ongoing cases, HIPAA compliance, future acquisitions, and more. Additionally, there is employment law, which is a catch-all word for a number of laws defending workers' rights, including fair pay, equality, equity, inclusion, and justice, as well as health and safety. While some nations lack efficient enforcement of employment laws, others have harsh penalties for violating any of the specified rights of employees. Therefore, breaking these regulations could result in severe consequences.
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