SEATTLE, Aug. 16, 2021 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global cardiac biomarkers market is estimated to be valued at US$ 4,869.2 million in 2021 and is expected to exhibit a CAGR of 10.4% during the forecast period (2021-2028).
Key Trends and Analysis of the Global Cardiac Biomarkers Market:
Key trends in the market include increasing prevalence of cardiovascular diseases, increasing product launches and approvals, increasing research and development activities, inorganic activities such as mergers, partnerships, acquisitions, collaborations, and others.
Increasing prevalence of cardiovascular diseases and rising awareness in people across the globe is expected to fuel the market growth of cardiac biomarkers over the forecast period. For instance, according to the World Health Organization, in 2019 around 17.9 million deaths were reported globally due to cardiovascular diseases, out of which 85% deaths were caused by strokes and heart attacks, while 32% of the globally reported deaths were caused by other diseases, which makes cardiovascular disease as the top cause of death worldwide. The fatality of cardiovascular diseases has led to an increased awareness in people with regards to their health. People are making active efforts to get themselves tested for cardiovascular diseases as soon as they suspect any signs and symptoms. This is expected to drive the growth of cardiac biomarkers market.
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Increasing number of research and development activities for launching novel cardiac biomarkers and to improve the efficiency of currently existing cardiac biomarkers is expected to bolster the growth of cardiac biomarkers market. For instance, in April 2021, F. Hoffmann-La Roche AG, a Swiss pharmaceutical and diagnostic company, announced five new uses of its cardiac biomarkers test NT-proBNP and cTnT-hs. These diagnostic kits use novel technology for precise and timely diagnosis of heart attacks and heart failure. These diagnostic kits have been certified under European in-vitro Diagnostic Regulation (IVDR) and can be marketed and distributed in countries accepting CE mark. Growing research by market players to introduce newer technologies is expected to fuel the growth of cardiac biomarkers market.
The increasing number of product approval and launch is expected to drive growth of the cardiac biomarkers market over the forecast period. For instance, in September 2019, Abbott Laboratories, an American medical device manufacturer, launched its U.S. Food and Drug Administration (FDA) approved product Architect Stat High Sensitivity Troponin-I blood assay, to measure the quantity of cardiac troponin-I in plasma and serum. This assay aids in early detection of cardiac events in people at higher risk as well as those who are at lower risk of having a cardiovascular condition such as heart attack, heart failure and others.
However, lack of specificity in available cardiac biomarkers assays for heart failure is expected to hamper the growth of the market. For instance, according to an article published by the European Medical Journal in October 2020, brain natriuretic peptide (BNP) levels in blood may increase due to extra cardiac factors such as obesity. Also, people with lower BNP levels in blood can suffer from heart failure. Thus, use of BNP as a cardiac biomarker is related to lower specificity with regards to diagnosis of heart failure. Limited specificity of certain cardiac biomarkers thus may act as a restraint to the growth of cardiac biomarkers market.
Key Market Takeaways:
Rising product launches and approvals, increasing research and development activities, business strategies such as mergers, collaborations, partnerships and others are expected to drive growth of the global cardiac biomarkers market over the forecast period. For instance, in July 2018, Siemens Healthineers, a Germany based healthcare company, bagged U.S. FDA approval for its product high-sensitivity troponin I (TnIH) assays. This cardiac biomarker-based assay aids in rapid and early diagnosis of heart conditions such as myocardial infarction, heart failure, and others.
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Competitive Landscape:
Key players operating in the global cardiac biomarkers market include Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Bio-Rad Laboratories, Danaher Corporation, Randox laboratories, Beckman Coulter, Siemens Healthcare, Becton, Dickinson and Company, BioMerieux, Creative Diagnostics, and Alere Inc.
Market Segmentation:
- Global Cardiac Biomarkers Market, By Product Type:
- Myocardial Muscle Creatine Kinase (CK-MB)
- Troponins (T and I)
- Myoglobin
- Brain Natriuretic Peptide (BNPs) or NT-proBNP
- Ischemia-modified Albumin (IMA)
- Others
- Global Cardiac Biomarkers Market, By Application:
- Myocardial Infarction
- Congestive Heart Failure
- Acute Coronary Syndrome
- Atherosclerosis
- Others
- Global Cardiac Biomarkers Market, By Location of Testing:
- Laboratory Testing
- Point-of-Care Testing
- Global Cardiac Biomarkers Market, By Region:
- North America
- By Country:
- U.S.
- Canada
- By Country:
- Latin America
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country:
- Europe
- By Country:
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country:
- Asia Pacific
- By Country
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Country
- Middle East
- By Country:
- GCC
- Israel
- Rest of Middle East
- By Country:
- Africa
- By Country/Region:
- South Africa
- Central Africa
- North Africa
- By Country/Region:
- North America
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