The global 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 refers to proteins found in the blood that indicate damage or stress to the heart. Some of the commonly used cardiac biomarkers are troponin, CK-MB and myoglobin. Cardiac biomarkers testing helps in early detection of various cardiac conditions like myocardial infarction, congestive heart failure and myocardial injury.
Market key trends:
One of the key trends in the cardiac biomarkers market is the development and launch of high sensitivity troponin assays. Troponin is considered the gold standard for detection of myocardial injury. Traditionally used troponin assays lacked sufficient sensitivity to detect minor heart damage. However, with advancement in technology, companies are introducing high sensitive troponin assays which can detect even small amounts of troponin released during minor heart damage. This is allowing for early detection and treatment of cardiac conditions. Other trends include development of novel cardiac biomarker panels and automated immunoassay systems for rapid cardiac biomarkers testing.
Market key trends:
The cardiac biomarkers market is witnessing increasing adoption of high-sensitivity assays due to their ability to detect very low concentrations of biomarkers. These assays aid in early diagnosis of myocardial injury as they can detect the biomarkers at very minute concentration levels. Moreover, cardiac biomarker point-of-care testing is gaining traction as it allows near-patient or bedside testing and provides quick diagnosis. This helps in prompt clinical decision making and treatment of patients.
SWOT Analysis
Strengths: High sensitivity of assays to detect biomarkers at low concentrations resulting in early diagnosis.
Weaknesses: Expensive diagnostic platforms and lack of skilled professionals in developing countries.
Opportunities: Rising geriatric population susceptible to cardiovascular diseases and increasing adoption of point-of-care testing.
Threats: Stringent regulatory framework and reimbursement issues in some regions.
Key Takeaways
The Cardiac Biomarkers Market Growth was valued at USD 9836.55 million in 2023 and is expected to expand at a CAGR of 10% from 2023 to 2030. The growth is attributed to increase in incidence of cardiovascular diseases due to risk factors such as rising obesity, smoking, and stressful lifestyle. Moreover, increasing adoption of high sensitivity assays, growing geriatric population, and technological advancements in diagnostic platforms are supporting the market growth.
Regionally, North America dominated the global market and accounted for maximum share in 2023 due to supportive healthcare infrastructure and presence of major market players. However, Asia Pacific is anticipated to exhibit fastest growth over the forecast period. Growth in this region is driven by expansion of healthcare facilities, large patient population, and increasing medical tourism.
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. Major players are focusing on new product innovations to consolidate their market position through geographic expansion.
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