Cardiac Biomarkers Testing Market is projected to Grasp $18,232 Million by 2026 with a CAGR of 11.4% Says Allied Market Research

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Global Cardiac Biomarkers Testing Market

The global cardiac biomarkers testing market size generated $7,638 million in 2018, and is projected to reach $18,232 million by 2026, growing at a CAGR of 11.4% from 2019 to 2026. The cardiac troponins segment, both T and I, forefronts among all other cardiac biomarker types, holding the largest share due to its strong performance, as cardiac troponins are the most sensitive and specific biomarkers for subsequent events of myocardium injury.

North America is anticipated to continue to lead the market in the near future, owing to high awareness regarding the importance of early diagnosis of any cardiac event and favorable healthcare reimbursement policies. In addition, Asia-Pacific is expected to emerge as one of the most lucrative regions, and would closely follow Europe in terms of revenue generation. The prime factors fueling the growth of the Asia-Pacific cardiac bio markers market include presence of a large number of undiagnosed cardiac patients, rapid urbanization, rise in disposable income, and increase in awareness about cardiac disease management programs.

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The global cardiac biomarkers testing market has witnessed significant growth in the past few years, and is anticipated to continue to grow at a consistent pace, due to high prevalence of cardiac diseases that widely remain undiagnosed. Large number of cardiac biomarkers in pipeline, augmented patient awareness toward the importance of early detection of cardiovascular diseases, and opportunities in untapped countries such as India, China, and other Asia-Pacific countries are the key factors that contribute toward the growth of the market. In addition, introduction of novel cardiac biomarkers for point of care (POC) testing and facilitating quick results for chronic patients serve as opportunistic approaches to drive the market growth. However, premium pricing of approved and novel single used cardiac biomarkers and uncertain government regulation regarding the approval for biomarker tests and assays are expected to hinder the market growth during the analysis period.

Presence of large undiagnosed patient population, rise in incidence of cardiovascular diseases (CVDs), rapid urbanization, increase in disposable income, improved government funding toward healthcare, and surge in awareness about cardiac events, i.e., quick checkups after the onset of chest pain are the prime reasons responsible for the market growth in North America. Furthermore, the market growth is driven by novel progress in the treatments with improved overall survival benefits using multi-assay biomarkers. The survival benefit would be influential in governing the peak sales and market penetration of novel approved cardiac biomarker-based devices.

The applications covered in the study include myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and others. The congestive heart failure segment is expected to register the highest growth rate, owing to increased demand for biomarker tests for early detection of heart failure.

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Based on cardiac biomarker type, the market is segmented into creatine kinase (CK-MB), troponins T and I, myoglobin, BNPs, IMA, and others. The IMA segment is expected to grow at high CAGR, as these biomarkers improve the sensitivity and negative predictive value for the diagnosis of myocardial ischemia when used in combination with standard cardiac biomarkers.

North America led the global market in 2018, due to high demand for cardiac testing, increase in prevalence rate of CVD, and rise in awareness toward cardiac diagnostics solutions. Moreover, intensive efforts taken by government and research institutes to deal with critical cardiac diseases and increase in R&D activities related to cardiac biomarkers are expected to boost the market growth in North America.

Leading industry players:

Roche Diagnostics, Abbott Laboratories, Siemens Healthcare, Becton, Dickinson and Company, Bio-Rad Laboratories, BioMerieux, PerkinElmer Inc., Tosoh Corporation, Danaher Corporation, and Thermo Fisher Scientific.

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