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| Cardiac Biomarkers Market Growth |
The Cardiac Biomarkers Market is estimated to be valued at US$ 9836.55 Mn or Mn in 2023 and is expected to exhibit a CAGR of 10.% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market Overview:
Cardiac biomarkers refer to proteins and enzymes that are released into the
bloodstream upon injury or damage to cardiac muscles. Some of the commonly used
cardiac biomarkers include troponin, myoglobin, creatine kinase-MB (CK-MB) and
heart-type fatty acid binding protein (H-FABP). They play a vital role in the
diagnosis and management of various heart diseases such as myocardial
infarction, congestive heart failure and unstable angina. With the rising
prevalence of cardiovascular diseases worldwide, the demand for cardiac
biomarkers is growing significantly.
Market Dynamics:
Increasing geriatric population: The risk of cardiovascular diseases increases
with age. According to the WHO, approximately 17.9 million deaths were caused
due to CVDs in 2016, out of which over 80% occurred in low and middle income
countries. Further, the number of people aged 65 and above is expected to
triple in numbers and reach around 1.6 billion globally by 2050. This growing
geriatric population is expected to drive the demand for early diagnosis and
management of cardiac conditions, thereby propelling the cardiac biomarkers
market growth over the forecast period.
Robust research and development: Vendors in the market are increasingly
investing in research activities to develop novel, highly sensitive and
specific cardiac biomarkers which can help in early diagnosis. For instance,
high-sensitivity troponin assays have emerged as a promising diagnostic
biomarker that can detect myocardial damages with improved accuracy. Continuous
innovation and launch of new biomarkers is expected to fuel the market growth.
Segment Analysis
The Cardiac
Biomarkers Market Growth can be segmented based on type, application
and end-use. Based on type, the market is segmented into troponin I and T,
CK-MB, BNP or NT-proBNP, myoglobin, ischemia modified albumin (IMA). Among
these, troponin I and T segment dominates the market due to use of high
sensitivity and high cardiac specificity. Based on application, the market is
segmented into myocardial infarction, congestive heart failure, acute coronary
syndrome, atherosclerosis and others. Myocardial infarction segment holds a
major share as cardiac biomarkers helps in early detection of myocardial
injury. Based on end-use, the market is segmented into laboratories,
point-of-care testing and others. Laboratories segment dominates the market as
most of the cardiac biomarker tests are carried out by commercial and hospital
laboratories. PEST Analysis
Political: Regulations related to cardiac biomarkers are aligned
internationally to maintain consistency and accuracy of testing. This
encourages adoption among healthcare facilities.
Economic: Developing countries experiencing rise in cardiovascular diseases due
to changing lifestyle and incomes. This fuels demand for advanced diagnostics
including cardiac biomarkers.
Social: Increasing health awareness regarding importance of early detection and
management of cardiovascular conditions drives uptake of cardiac biomarkers
testing.
Technological: Novel tests with high sensitivity and utility in point-of-care
and home settings expanding the market scope. Automation and miniaturization of
instruments further market growth.
Key Takeaways
The global cardiac biomarkers market size was valued at US$ 9836.55 Mn in 2023 and is expected to reach over US$ 30000 Mn
by 2030, expanding at a CAGR of 10.% from 2023 to 2030.
The market is growing owing to increasing prevalence of cardiovascular diseases
coupled with rising geriatric population worldwide. As per WHO, cardiovascular
diseases are the leading cause of death globally, taking an estimated 17.9
million lives each year. Heart attacks and strokes account for 85% of all
cardiovascular disease deaths. Thus, growing disease burden is augmenting
demand for cardiac biomarkers.Regionally, North America dominates the global
market and is expected to continue its lead over the forecast period. Favorable
reimbursement policies, robust healthcare infrastructure and growing adoption
of advanced diagnostics drive the North American market.
Key players operating in the cardiac biomarkers market are Abbott Laboratories,
F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Bio-Rad Laboratories,
Inc., Danaher Corporation, Randox Laboratories Ltd., Siemens Healthineers, and
BioMérieux SA. These companies are focused on developing novel, high
sensitivity biomarker assays and automated testing systems for laboratories and
point-of-care use.
Read More: https://www.rapidwebwire.com/cardiac-biomarkers-market-trends/