Myoglobin Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The market is segmented by Type (Human and Animal), End User and Geography

Market Snapshot

Myoglobin Market, Myoglobin Market Size
Study Period: 2018 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 4.3 %
Myoglobin Market Major Players

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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.

By Type
Human
Animal
By End-User
Hospitals
Diagnostic Laboratories
Research and Academic Institutes
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America

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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.

Myoglobin Market Share

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.

Myoglobin Market Growth

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

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Increasing Prevalence of Cardiovascular Diseases

      2. 4.2.2 Growing Funding From Public and Private Organizations for R&D

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Awareness about Myoglobin

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Human

      2. 5.1.2 Animal

    2. 5.2 By End-User

      1. 5.2.1 Hospitals

      2. 5.2.2 Diagnostic Laboratories

      3. 5.2.3 Research and Academic Institutes

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Italy

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 South Korea

        6. 5.3.3.6 Rest of Asia-Pacific

      4. 5.3.4 Middle East and Africa

        1. 5.3.4.1 GCC

        2. 5.3.4.2 South Africa

        3. 5.3.4.3 Rest of Middle East and Africa

      5. 5.3.5 South America

        1. 5.3.5.1 Brazil

        2. 5.3.5.2 Argentina

        3. 5.3.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Bio-Rad Laboratories, Inc.

      2. 6.1.2 BODITECH MED INC

      3. 6.1.3 Calzyme

      4. 6.1.4 Lee BioSolutions

      5. 6.1.5 Merck KGaA

      6. 6.1.6 OriGene Technologies, Inc.

      7. 6.1.7 Scripps Laboratories

      8. 6.1.8 Thermo Fisher Scientific

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Myoglobin Market market is studied from 2018 - 2026.

The Myoglobin Market is growing at a CAGR of 4.3% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2021.

Bio-Rad Laboratories, Inc., Merck KGaA, OriGene Technologies, Inc., Scripps Laboratories, Thermo Fisher Scientific are the major companies operating in Myoglobin Market.

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