Cardiac Marker Testing Market is Expected to Reach $6.9 billion | MarketsandMarkets.
Chicago, Oct. 30, 2023 (GLOBE NEWSWIRE) — The cardiac marker testing industry is poised for remarkable advancements in the near future, driven by cutting-edge technology and a growing emphasis on preventive healthcare. With an aging global population and a rising incidence of cardiovascular diseases, there is an increasing demand for highly sensitive and specific cardiac biomarker assays that can enable early diagnosis and risk assessment. Furthermore, the integration of artificial intelligence and machine learning algorithms into cardiac marker analysis promises to enhance predictive accuracy and personalized treatment strategies. This synergy of technological innovation and a shifting healthcare landscape is set to transform the cardiac marker testing industry, ultimately leading to more effective and efficient management of cardiovascular health, thereby reducing the burden of heart-related illnesses worldwide.
Cardiac Marker Testing market in terms of revenue was estimated to be worth $4.4 billion in 2023 and is poised to reach $6.9 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The cardiac marker testing market is driven by several factors that contribute to its growth and increasing adoption. These driving factors include growing initiatives by government to propel the discovery of novel cardiac biomarkers, the rising incidence of cardiovascular diseases and aging. However, Challenges related to unfavorable regulatory procedures, restricted reimbursement structures, and technical complexities associated with sample storage and handling in biomarker investigation procedures are anticipated to impede the market’s growth to a certain degree.
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Cardiac Marker Testing Market Scope:
|Market Revenue in 2023||$4.4 billion|
|Estimated Value by 2028||$6.9 billion|
|Growth Rate||Poised to grow at a CAGR of 9.4%|
|Market Size Available for||2020–2028|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, biomarker type, diseases, End User, and Region|
|Geographies Covered||North America, Europe, Asia Pacific, Latin America and Middle East & Africa|
|Report Highlights||Updated financial information / product portfolio of players|
|Key Market Opportunity||Emerging markets offering growth opportunities|
|Key Market Driver||Increase in prevalence of cardiovascular diseases|
Cardiac Marker Testing market major players covered in the report, such as:
- 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.
- and Among Others
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This report has segmented the global cardiac marker testing market based on product, biomarker type, diseases, end-user, and region.
Cardiac marker testing Market, By Product Type
- Reagents and Kits
Cardiac marker testing Market, By biomarker type
- Troponin I and T
- Creatine kinase-MB (CK-MB)
- Brain Natriuretic peptide (Bnp Or Nt-Probnp)
- High-sensitivity C-reactive protein (hs-CRP)
- Other Cardiac Biomarkers
Cardiac marker testing Market, By diseases
- Myocardial Infarction
- Congestive Heart Failure
- Acute Coronary Syndrome
Cardiac marker testing Market, By End User
- Laboratory Testing Facilities
- Hospital Labs
- Reference Labs
- Contract Testing Labs
- Point-Of-Care Testing Facilities
- Academic Institutions
Cardiac Marker testing Market, by region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
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The key stakeholders in the Cardiac Marker Testing market include:
- Product manufacturers, distributors, and suppliers
- Diagnostic laboratories and point-of-care testing centers
- Research laboratories and CROs
- Ambulatory testing centers
- Contract testing laboratories
- Academic universities and medical research centers
- Research and development (R&D) centers
- Market research and consulting firms
- In 2023, BD announced that it had received FDA approval for its BD Vacutainer Troponin I Ultra test to be used in point-of-care settings which makes the BD Vacutainer Troponin I Ultra test the first and only FDA-approved point-of-care troponin test for the diagnosis of acute myocardial infarction (AMI).
- In 2023, Bio-Rad launched the Bio-Plex 2300 Troponin I Assay, a new high-sensitivity troponin I test that can detect cardiac damage earlier than other troponin tests.
Frequently Asked Questions (FAQs) of Cardiac Marker Testing Market:
Question 1: What is the expected addressable market value of the global cardiac marker testing market over five years?
Answer: The global cardiac marker testing market will reach USD 6.9 billion by 2028 from USD 4.4 billion in 2023, at a CAGR of 9.4% from 2020 to 2028.
Question 2: Which segment based on product is expected to garner the highest traction within the cardiac marker testing market?
Answer: The product segment, which includes reagents and kits, is expected to grow at the highest rate.
Question 3: What are the strategies adopted by the top market players to penetrate emerging regions?
Answer: The major players in the market use partnerships, distribution agreements, product launches, and product approvals as important growth tactics
Question 4: What are the major factors expected to limit the growth of the cardiac marker testing?
Answer: Technical problems related to sample collection and storage, regulatory issues, and limited reimbursement. Challenges associated with biomarker assay validation are the major challenge the market faces.
Question 5: Which segment based on biomarker type is expected to garner the highest traction within the cardiac marker testing market?
Answer: In the biomarker type segment, CK-MB is expected to grow at the highest rate.
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- To define, describe, and forecast the cardiac marker testing market based on product, procedure, biomarker type, diseases, end user, and region.
- To provide detailed information regarding the major factors influencing the market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the total market.
- To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
- To profile the key market players and comprehensively analyze their market shares and core competencies.
- To forecast the revenue of the market segments with respect to five main regions, namely, North America (US and Canada), Europe (Germany, France, the UK, Italy, Spain, and Rest of Europe), the Asia Pacific (China, Japan, India, South Korea, Australia, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and the Middle East & Africa.
- To track and analyze competitive developments such as new product launches and approvals; agreements, expansions, acquisitions, partnerships; and collaborations in the cardiac marker testing market.
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