Market Snapshot
| Study Period: | 2018 - 2026 |
| Base Year: | 2021 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | North America |
| CAGR: | 4.3 % |
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Market Overview
The growing prevalence of cardiovascular diseases is the major factor that is driving the growth of the market studied. According to WHO, around 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Myocardial infarction is one of the conditions that occur due to cardiovascular diseases. It causes significant mortality and morbidity. A timely diagnosis of heart conditions allows clinicians to analyze the risk of their patients and prescribe relevant treatment. Additionally, growing funding from public and private organizations for R&D and technological advancements is expected to drive the market in the forecast period.
Scope of the Report
Myoglobin (Mb) is a cytoplasmic hemoprotein that binds and stores oxygen in cardiac myocytes and oxidative skeletal muscle fibers when there is insufficient delivery of blood oxygen. Myoglobin is a potential biomarker detected in the blood and serve as indices for physiological and pathological assessment in the diagnosis of various cardiological disorders.
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| Human | |
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| Hospitals | |
| Diagnostic Laboratories | |
| Research and Academic Institutes |
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Key Market Trends
Diagnostic Laboratories Segment Holds Significant Share in Myoglobin Market
Diagnostic laboratories are diagnostic centers where all different types of diagnostics are performed. Usually, they have high-quality equipment, and the results obtained from these laboratories are accurate. Diagnostic laboratories are found to be crucial to the entire healthcare system, in terms of both quality of care and financial performance.
The demand for diagnostics labs is increasing, as the patient population is found increasing and people mostly prefer to visit diagnostics labs to diagnose the diseases. Additionally, these labs can process high workloads faster.
The diagnostic laboratories segment is poised for strong growth, owing to the rising demand for healthcare services. However, the lack of regulation remains a major concern, considering the risks it poses to patients.
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North America dominates the Global Myoglobin Market
Myoglobin market holds the largest share in the North America region. According to the American Heart Association (AHA), in the United States, each year, about 8,36,546 deaths occur due to cardiovascular diseases and nearly 92.1 million Americans are suffering from some form of cardiovascular disease. As per the estimates of the CDC, around 2.7 to 6.1 million people in the United States are suffering from atrial fibrillation.
Hence, with the rising concerns regarding cardiovascular disorders and increasing spending on R&D of novel biomarkers, the market is expected to grow over the forecast period.
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Competitive Landscape
In Global Myoglobin Market, major players are focused on expanding their business in different areas by adopting various market strategies such as partnerships, collaborations, acquisitions, and mergers, etc. Key players in the market are Bio-Rad Laboratories, Inc., Merck KgaA, OriGene Technologies, Inc., Scripps Laboratories, Thermo Fisher Scientific.
Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Market Overview
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4.2 Market Drivers
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4.2.1 Increasing Prevalence of Cardiovascular Diseases
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4.2.2 Growing Funding From Public and Private Organizations for R&D
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4.3 Market Restraints
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4.3.1 Lack of Awareness about Myoglobin
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4.4 Porter's Five Force Analysis
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4.4.1 Threat of New Entrants
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4.4.2 Bargaining Power of Buyers/Consumers
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4.4.3 Bargaining Power of Suppliers
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4.4.4 Threat of Substitute Products
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4.4.5 Intensity of Competitive Rivalry
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5. MARKET SEGMENTATION
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5.1 By Type
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5.1.1 Human
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5.1.2 Animal
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5.2 By End-User
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5.2.1 Hospitals
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5.2.2 Diagnostic Laboratories
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5.2.3 Research and Academic Institutes
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5.3 Geography
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5.3.1 North America
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5.3.1.1 United States
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5.3.1.2 Canada
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5.3.1.3 Mexico
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5.3.2 Europe
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5.3.2.1 Germany
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5.3.2.2 United Kingdom
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5.3.2.3 France
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5.3.2.4 Italy
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5.3.2.5 Spain
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5.3.2.6 Rest of Europe
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5.3.3 Asia-Pacific
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5.3.3.1 China
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5.3.3.2 Japan
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5.3.3.3 India
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5.3.3.4 Australia
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5.3.3.5 South Korea
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5.3.3.6 Rest of Asia-Pacific
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5.3.4 Middle East and Africa
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5.3.4.1 GCC
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5.3.4.2 South Africa
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5.3.4.3 Rest of Middle East and Africa
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5.3.5 South America
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5.3.5.1 Brazil
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5.3.5.2 Argentina
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5.3.5.3 Rest of South America
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6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
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6.1.1 Bio-Rad Laboratories, Inc.
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6.1.2 BODITECH MED INC
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6.1.3 Calzyme
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6.1.4 Lee BioSolutions
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6.1.5 Merck KGaA
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6.1.6 OriGene Technologies, Inc.
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6.1.7 Scripps Laboratories
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6.1.8 Thermo Fisher Scientific
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*List Not Exhaustive -
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Myoglobin Market market is studied from 2018 - 2026.
What is the growth rate of Myoglobin Market?
The Myoglobin Market is growing at a CAGR of 4.3% over the next 5 years.
Which region has highest growth rate in Myoglobin Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Myoglobin Market?
North America holds highest share in 2021.
Who are the key players in Myoglobin Market?
Bio-Rad Laboratories, Inc., Merck KGaA, OriGene Technologies, Inc., Scripps Laboratories, Thermo Fisher Scientific are the major companies operating in Myoglobin Market.
