Number of pages: 100 | Report Format: PDF | Published date: December 14, 2022
Historical Years – 2020 | Base Year – 2021 | Forecasted Years – 2022-2030
According to the deep-dive market assessment study by Growth Plus Reports, the global cardiac biomarker market was pegged at US$ 14.10 billion in 2021 and is expected to witness a CAGR of 10.8% to reach US$ 35.49 billion by 2030.
Cardiac biomarkers are enzymes, proteins, and/or hormones released due to some damage in the heart muscles or some heart-related medical conditions/illnesses. Cardiac biomarkers are indicators that may be used to evaluate heart health. These may be helpful in the early diagnosis or prediction of cancer.
The growing incidences of cardiac disorders such as acute coronary syndrome (ACS) or cardiac ischemia are driving the global cardiac biomarkers market with a significant rise in revenue share, as these biomarkers are viewed as the gold standard for diagnosing different heart conditions with accuracy. The global cardiac biomarkers market is a vast industry expected to grow rapidly during the forecast period. The market revenue growth is attributed to the growing prevalence of cardiovascular diseases, rising awareness among the patient populations, and technological advancements. Furthermore, growing demands for POC (point of care) cardiac biomarker testing kits and growing government & private sector initiatives are major drivers of the market revenue. Additionally, the rising investments in R&D activities to advance diagnostic techniques are also propelling market revenue expansion. However, complicated procedures for diagnosis and strict government regulatory policies can obstruct the cardiac biomarkers market revenue growth. Moreover, technical problems related to the collection and storage of samples could also restrain revenue share to some extent.
The global cardiac biomarkers market has been analyzed from four perspectives: biomarker types, applications, end-user, and region.
Cardiac Biomarkers Market by Biomarker Types
Based on biomarker types, the global cardiac biomarkers market has been segmented into cardiac troponin, CK-MB (myocardial muscle creatine kinase), BNP & NT-proBNP (brain natriuretic peptide), myoglobin, and others (IMA (Ischemia Modified Albumin), ALT/AST, etc.).
The troponin segment accounts for the largest revenue share in the global market, attributed to the increasing incidences of myocardial infarction, acute coronary syndrome, etc., as the troponin test is imperative in such cases. Moreover, the troponin test provides better accuracy in cardiovascular disease detection with efficient diagnostic procedures, thus, contributing to the market revenue expansion. Moreover, the CK-MB segment is estimated to register rapid revenue growth during the forecast period owing to its accuracy in detecting cardiovascular diseases.
Cardiac Biomarkers Market by Application
Based on the application, the global cardiac biomarkers market has been segmented into congestive heart failure, acute coronary syndrome, myocardial infarction, and others (atherosclerosis, cardiac ischemia, etc.).
The acute coronary syndrome segment dominates the market with the largest revenue share. This significant revenue share of this segment can be attributed to the prevalence of acute coronary syndrome and the rapid adoption of urbanization leading to the adoption of a sedentary lifestyle.
Cardiac Biomarkers Market by End-user
Based on end-user, the global cardiac biomarkers market is segmented into hospitals and specialty clinics.
The hospital segment dominates the global market with the largest revenue share. The large patient footfall and better healthcare infrastructure are attributed to the dominance of the segment. Additionally, the availability of advanced technologies, better facilities, and medical experts also contribute to the revenue growth of this segment.
The specialty clinics segment is growing rapidly with a significant revenue share owing to the availability of favorable reimbursement policies.
Cardiac Biomarkers Market by Region
Based on regions, the global cardiac biomarkers market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global market with the largest revenue share. This revenue growth can be attributed to various factors such as developed healthcare infrastructure, large healthcare expenditures, and government & private initiatives. Furthermore, a large geriatric population and a noticeable base for market key players also drive market revenue.
Europe accounts for the second largest revenue share in the cardiac biomarkers market, attributed to the factors such as the rapid adoption of advanced technologies, well-defined healthcare infrastructure, and growth in the aged population.
Asia Pacific is a rapidly emerging region in market revenue share, owing to the expansion of healthcare expenditure, development in healthcare infrastructure, and rising adoption of advanced technologies. Additionally, growing medical tourism and expanding market players in this region further contribute to regional revenue growth.
The prominent players operating in the global cardiac biomarkers market are:
The key companies operating in the global cardiac biomarkers market are Siemens AG, Bio-Rad Laboratories Inc., bioMérieux SA, Beckman Coulter Inc., F. Hoffmann-La Roche AG, and Thermo Fisher Scientific Inc.
The troponin biomarker segment accounts for the largest revenue share in the global cardiac biomarkers market.
The expected revenue CAGR of the global cardiac biomarkers market is 10.8% during the forecast period.
The global cardiac biomarkers market was valued at US$ 14.10 billion in 2021.
*Insights on financial performance are subject to the availability of information in the public domain