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Cardiac Biomarker Diagnostic Kits Market Analysis & Key Business Strategies by Leading Industry Players

Transparency Market Research (TMR) has published a new report titled, ‘Cardiac Biomarker Diagnostic Kits Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2027’. According to the report, the global cardiac biomarker diagnostic kits market was valued at around US$ 2.2 Bn in 2018 and is projected to grow at a CAGR of 5.2% from 2019 to 2027

Overview

  • Cardiac biomarkers are also called cardiac markers. In a condition when the heart is damaged or stressed, cardiac biomarkers (endogenous substances including enzymes, hormones, and proteins) are released into the blood.
  • Generally, cardiac markers are used to diagnose heart attack and acute coronary syndrome (ACS) or conditions associated with insufficient blood flow to the heart. These markers are also utilized in the diagnosis and risk stratification of patients with chest pain.
  • Among cardiac biomarker tests, troponin is the biomarker test of choice for detecting heart damage. The test is performed with a blood sample using a needle to draw blood from a vein in the hand or arm. Troponin is elevated within a few hours of heart damage and stays elevated up to two weeks.
  • There are other established biomarkers, such as myoglobin (test used along with troponin for early detection of heart attack) and creatinine kinase isoenzymes (also called cardiac enzyme, which is linked with injury of heart muscle and detection of a second heart attack anticipated shortly after the first)

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Rise in prevalence of cardiovascular diseases across the world to Drive Market

  • Growing prevalence of cardiovascular diseases across the world is the major driver for the growth of global cardiac biomarker diagnostic kits market.
  • For instance, the American Heart Association estimated that 5 millionadults had cardiovascular diseases between 2013 and 2016
  • Advancements in novel technologies and increasing government funding for cardiovascular disease treatment are some of the major factors responsible for the growth of global cardiac biomarker diagnostic kits market
  • Moreover, early detection to track the heart condition and integration of cardiology & IT are also some of the major factors fuelling the growth of global cardiac biomarker diagnostic kits market

Troponin Test Kits Segment to Dominate Market

  • Based on product, the global cardiac biomarker diagnostic kits market has been segmented into troponin test kits, CK-MB test kits, myoglobin test kits, BNP test kits, C-reactive Protein (hsCRP), and other biomarkers
  • Troponin test kits segment is accounted for major market share in global cardiac biomarker diagnostic kits market in 2018
  • Growth of troponin test kits segment can be ascribed to its prodigious specificity and ability to accurately detect the cardiac events of acute coronary syndrome (ACS).

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Cardiac Heart Failure – Promising Application Segment

  • In terms of application, the global cardiac biomarker diagnostic kits market has been divided into angina pectoris, myocardial infarction (MI), cardiac heart failure, and others
  • Angina pectoris dominated the global market in 2018 and is projected to dominate by the end of 2027 due to high incidence rate of angina pectoris across the globe
  • Cardiac heart failure is more lucrative segment during the forecast period which is growing with a higher CAGR during the same period of 2019-2027 owing to rise in number of patient cases for cardiac heart failure across the world

Pont-of-care testing Segment– Higher Growth Rate

  • On the basis of testing, the global cardiac biomarker diagnostic kits market has been bifurcated into laboratory testing, and point-of-care testing
  • Point-of-care testing is more promising segment which is expected to grow with higher CAGR during the forecast period.
  • Easy accessibility of point-of-care testing, increase in preference for point-of-care testing, and new kits & assays being offered by market players for rapid tests are expected to drive the point-of-care testing segment during the forecast period.

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Diagnostic Laboratory End-user Segment- Major Market Share

  • Based on end-user, the global cardiac biomarker diagnostic kits market has been segmented into hospitals, clinics, and diagnostic laboratory
  • Diagnostic laboratory segment dominated the global cardiac biomarker diagnostic kits market in 2018 due to rise in hospital admissions for dental procedures, favorable reimbursement scenario, and increase in number of advanced diagnostic laboratories in the last decade which has led to a higher number of diagnostic tests being performed at these settings

North America to Dominate Global Market

  • In terms of region, the global cardiac biomarker diagnostic kits market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
  • North America accounted for major share of the global cardiac biomarker diagnostic kits market in 2018 due to higher cardiovascular disease patient population, significant average selling price of analyzers, rise in demand for technologically advanced diagnostic instruments with enhanced specificity and precision among cardiologist, and favorable coverage as per the Clinical Laboratory Improvement Amendments for in-vitro diagnostic procedures in the region
  • For instance, an article published in the Medscape states that more than8 millionpeople in the U.S. experience symptoms of angina, annually, and more than 500,000 cases are registered every year
  • The cardiac biomarker diagnostic kits market in Asia Pacific is anticipated to expand at a high CAGR from 2019 to 2027. This can be ascribed to growing aging population, developing health care infrastructure, large patient population, increase in funding and investment toward the development of cardiac analyzers, and surge in focus of both international and domestic players in the region.

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Competitive Landscape

  • The global cardiac biomarker diagnostic kits market is consolidated as few players hold major market share in global market. Key players include Abbott Laboratories, F. Hoffmann-La Roche Ltd., Danaher Corporation, Siemens Healthineers, bioMérieux SA, Ortho Clinical Diagnostics, Thermo Fisher Scientific, Inc., Bio-Rad Laboratories, Inc., among other

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