Cardiac Biomarkers Market Size
|Fastest Growing Market:||Asia-Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Cardiac Biomarkers Market Analysis
The cardiac biomarkers market is expected to grow at an annual rate of 8.5% over the next few years.
The market was significantly impacted by the COVID-19 pandemic. According to an NCBI study published in Current Problems in Cardiology in October 2021, in the majority of the complex cases of COVID-19, cardiac injury biomarkers were elevated. This elevation is inversely correlated with the worst outcome. A more reliable tool for predicting case fatalities and outcomes is provided by the evaluation of cardiac biomarkers in combination with markers of other organ damage. Thus, the use of cardiac biomarkers enables the disease management of severely ill patients, thereby impacting the growth of the market during the pandemic period. Also, the demand for cardiac biomarkers is expected to remain intact due to the increasing focus on the diagnosis of cardiovascular diseases during the post-pandemic period, thereby contributing to the growth of the market over the forecast period.
The cardiac biomarker market is driven by the rising burden of cardiovascular diseases, technological advances in cardiac biomarkers, and growing research and development funding. For instance, the British Heart Foundation (BHF) data published in January 2022 reported that in 2021, the most common heart conditions affected globally were coronary (ischemic) heart disease (global prevalence estimated at 200 million), peripheral arterial (vascular) disease (110 million), stroke (100 million), and atrial fibrillation (60 million). The report also mentioned that the prevalence of heart and circulatory diseases in North America was 46 million, in Europe it was 99 million, in Africa it was 58 million, in South America it was 32 million, and in Asia and Australia it was 310 million. Thus, the high prevalence of cardiovascular diseases is expected to drive the demand for early diagnosis and treatment, which may expand the scope of the market studied over the forecast period.
Moreover, the launch of technologically advanced cardiac biomarkers by various market players is also anticipated to boost the market. For instance, in April 2021, Roche launched a series of five new intended uses for two key cardiac biomarkers using the Elecsys technology, i.e., high-sensitive cardiac troponin T (cTnT-hs) and N-terminal pro-brain natriuretic peptide test (NT-proBNP). These gold-standard biomarkers have proven to be successful in supporting cardiovascular disease management and can help clinicians diagnose heart attacks (cTnT-hs) and better manage heart failure (NT-proBNP).
Therefore, the rising incidence of cardiovascular diseases among the global population and increasing innovative product launches are expected to drive the growth of the market over the forecast period. However, the stringent regulatory framework is expected to impede the growth of the market over the forecast period.
Cardiac Biomarkers Industry Segmentation
As per the scope of the report, cardiac biomarkers are of great importance in the timely and accurate diagnosis and management of acute coronary syndrome, as well as the prognosis. The Cardiac Biomarkers Market is segmented by Type (Creatine Kinase, Troponins, Myoglobin, Ischemia Modified Albumin, and Other Types), Application (Congestive Heart Failure, Acute Coronary Syndrome, Myocardial Infarction, Atherosclerosis, and Other Applications), Location of Testing (Point-of-Care Testing and Laboratory Testing), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers market sizes and forecasts in terms of value (USD million) for all the above segments.
|Ischemia Modified Albumin|
|Congestive Heart Failure|
|Acute Coronary Syndrome|
|By Location of Testing|
Cardiac Biomarkers Market Trends
This section covers the major market trends shaping the Cardiac Biomarkers Market according to our research experts:
Troponin is Expected to be the Fastest Growing Segment During the Forecast Period
Troponin tests are becoming a lucrative market due to their benefits in detecting myocardial infarction and congestive heart failure and their efficiency in diagnosing cardiovascular disorders in a timely and accurate manner compared to other tests. According to a study that came out in August 2021 in the National Library of Medicine, cardiac troponins are the best blood test for people who might have acute myocardial infarction or cardiac heart failure.This is because they are specific and sensitive biomarkers of cardiac ischemia. The levels of cardiac troponin in the blood can be detected using sensitive and highly sensitive assays. Such high levels of specificity and efficacy of troponin tests are expected to drive the growth of the studied segment.
The growing burden of cardiac diseases is anticipated to drive the demand for the troponin biomarkers segment. For instance, according to the study published in Frontiers in Cardiovascular Medicine in September 2021, in the United States, a myocardial infarction occurs every 40 seconds, with an estimated annual incidence of 605,000 new cases and 200,000 recurrent cases and a prevalence of 3.0% among adults aged 20 years and older. Also, the MDPI Journal research article published in September 2021 reported that the worldwide prevalence of peripheral arterial disease (PAD) is estimated to be 3–12%, affecting nearly 27 million people in America and Europe. The same source also reported that in Europe, the prevalence of PAD is estimated at around 17.8% between the ages of 45 and 55. Such a high prevalence of cardiovascular diseases is expected to contribute to the growing demand for effective diagnostics such as troponin tests, thereby fueling segment growth.
Moreover, the major market players are focusing on developing advanced products for the diagnosis of cardiovascular diseases. For instance, in April 2021, Siemens Healthcare earned the CE Mark for its cardiac troponin point-of-care test. The Atellica VTLi Patient-Side Immunoassay Analyzer is a device that offers a point-of-care test to help diagnose heart attacks.
Thus, the rising incidence of cardiovascular diseases, the high efficacy of troponin tests, and increasing product launches are expected to contribute to the growth of the studied segment.
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North America is Expected to Witness a Growth in Wireless ECG Devices Market Over the Forecast Period
North America is expected to hold a significant share of the market over the forecast period. The high burden of cardiovascular diseases in the region and the increased spending on the research and development of cardiovascular disease diagnostics are expected to drive the cardiac biomarkers market in the region during the forecast period.
For instance, as per the 2022 Heart Disease and Stroke Statistics Update Fact Sheet, approximately every 40 seconds, a person in the United States is anticipated to have a myocardial infarction. Likewise, the CDC updated its report in September 2021 and reported that approximately 6.5 million people aged 40 and older in the United States have peripheral arterial disease. Also, as per the February 2022 report from the Heart and Stroke Foundation of Canada, 750,000 people are living with heart failure, and 100,000 people are diagnosed with heart failure each year in the country.
Furthermore, the increasing market players' strategies in this region to develop innovative cardiac biomarker tests are expected to contribute to the growth of the market in this region. For instance, in July 2021, Beckman Coulter, a global clinical diagnostics leader, entered into definitive agreements with Quidel Corporation to obtain all rights related to the manufacture, distribution, and sale of a BNP assay for its Beckman Coulter analyzers for congestive heart failure.
Therefore, given the above-mentioned factors, such as the growing demand for effective diagnostics and the increasing incidence of cardiovascular diseases, the presence of major players is expected to contribute to the growth of the market in this region.
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Cardiac Biomarkers Industry Overview
The cardiac biomarkers market is moderately fragmented and competitive due to the presence of major market players. The global players in the cardiac biomarkers market are Abbott Laboratories, Becton, Dickinson and Company, BioMérieux, Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche AG, Randox Laboratories, Siemens Healthineers, and Thermo Fisher Scientific. These companies are focused on achieving growth through the development of innovative products and new tests and improving the specificity of their tests.
Cardiac Biomarkers Market Leaders
Becton, Dickinson and Company
Bio-Rad Laboratories, Inc.
*Disclaimer: Major Players sorted in no particular order
Cardiac Biomarkers Market News
- September 2022: SRL Diagnostics launched "Heart Assure," a specialized test that can predict the risk of a cardiac event in an individual. High-sensitivity troponin I is a simple blood test that can precisely predict a cardiac injury by providing a heart health risk score.
- June 2022: SCIEX, a global leader in life science analytical technologies and a company of Danaher Corporation, launched the Zeno SWATH DIA, a significant step forward in biomarker discovery and translation workflows.
Cardiac Biomarkers Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Cardiovascular Diseases
4.2.2 Technological Advancements in Cardiac Biomarkers
4.2.3 Growing Funding from Public and Private Organizations for R&D
4.3 Market Restraints
4.3.1 Stringent Regulatory Frameworks
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Type
5.1.1 Creatine Kinase
5.1.4 Ischemia Modified Albumin
5.1.5 Other Types
5.2 By Application
5.2.1 Congestive Heart Failure
5.2.2 Acute Coronary Syndrome
5.2.3 Myocardial Infarction
5.2.5 Other Applications
5.3 By Location of Testing
5.3.1 Point-of-care Testing
5.3.2 Laboratory Testing
5.4.1 North America
184.108.40.206 United States
220.127.116.11 United Kingdom
18.104.22.168 Rest of Europe
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.4.4 Middle East and Africa
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
5.4.5 South America
220.127.116.11 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Becton, Dickinson, and Company
6.1.4 Bio-Rad Laboratories Inc.
6.1.5 Danaher Corporation
6.1.6 F. Hoffmann-La Roche AG
6.1.7 Randox Laboratories
6.1.8 Siemens Healthineers
6.1.9 Thermo Fisher Scientific
6.1.10 Quidel Corporation
6.1.11 Life Diagnostics
6.1.12 Perkin Elmer Inc.,
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Cardiac Biomarkers Market Research FAQs
What is the study period of this market?
The Cardiac Biomarkers Market is studied from 2019 - 2027.
What is the growth rate of Cardiac Biomarkers Market?
The Cardiac Biomarkers Market is growing at a CAGR of 8.5% over the next 5 years.
Which region has highest growth rate in Cardiac Biomarkers Market?
Asia-Pacific is growing at the highest CAGR over 2019-2027.
Which region has largest share in Cardiac Biomarkers Market?
North America holds highest share in 2021.
Who are the key players in Cardiac Biomarkers Market?
Abbott Laboratories, Becton, Dickinson and Company, BioMérieux, Bio-Rad Laboratories, Inc., Danaher Corporation are the major companies operating in Cardiac Biomarkers Market.
Cardiac Biomarkers Industry Report
Statistics for the 2023 Cardiac Biomarkers market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Cardiac Biomarkers analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.