The latest market report published by Acute Market Reports, Inc. “Cardiac Biomarker Diagnostic Kits Market – Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the cardiac biomarker diagnostic kits market was valued at US$ 2,106.4 Mn in 2018, expected to grow at a CAGR of 5.3% during the forecast period from 2019 to 2027.
The global cardiac biomarker diagnostic kits market is growing competently from 2019 to 2027 attributed to an increase in prevalence for cardiac diseases, and other lifestyle diseases in the geriatric population. Increased FDA clearance for new cardiac diagnostic kits along with automated systems will enhance the overall market growth in the diagnostics industry. New technology expansion, acquisitions and novel product launch will drive the market in the developed nations globally.
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Cardiac biomarker diagnostic kits further categorized into product types, diseases indication and testing. Angina pectoris in the disease indication show huge opportunity globally.
Launch of ultra-sensitive cardiac troponin-I kits and assays along with improved clinical outcomes will generate maximum revenue share globally. Enhanced guidelines in the manufacturing of diagnostic kits will enhance the overall production. High prevalence of atherosclerotic vascular disease will have a huge impact on a global scale. As per the data by WHO, more than 30% of the mortality rate is due to this CVD. Moreover, as per American Heart Association, in a 2016 study, the total direct medical expenditure of cardiovascular diseases estimated to increase by more than $700 billion in 2035. More than 500,000 new cases of angina pectoris registered every year in the U.S., henceforth, driving the market growth in North America region.
Top organizations are mainly focusing on novel product launch along with increased FDA approval in the U.S. market. An increasing number of admissions with myocardial infraction (mi), cardiac heart failure and angina pectoris in the hospitals and diagnostic centers will increase the demand for cardiac biomarker diagnostic kits globally. Troponin test kit along with BNP test kit will hold a major revenue share globally. Angina Pectoris in the disease indication segment will contribute a significant revenue share on a global scale.
The U.S. market is leading globally accredited to increasing commonness of CVD, chronic diseases, increasing elderly population with unmet needs, and domicile of top diagnostic kit manufacturers in the United States. Major factors accountable for overall market growth include expansion in point of care testing, increased awareness related to CVD, and increased usage of Troponin I and T kits with progressive techniques globally.
Key Market Movements:
• Globally, the cardiac biomarker diagnostic kits is growing
at a CAGR of 5.3% for the period from 2019 to 2027
• Better general health awareness for CVD along with improved treatment and diagnostic options will drive the market growth in the Asia Pacific and MEA region owing to progresses in overall medical care, increase in medical expenditure, and medical tourism
• Increased funding by public and private organizations for better quality medical treatment
• U.S FDA approval, novel diagnostic kit launch along with promising pipeline products for AMI, angina, and other cardiac conditions will drive the market growth.
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Key Market Players
• bioMerieux SA
• Danaher Corporation
• Guangzhou Wondfo Biotech Co., Ltd
• Siemens AG
• Abbott Laboratories
• Alere, Inc.
• LSI Medience Corporation
• Randox laboratories
• Ortho Clinical Diagnostics
• Hoffmann-La Roche AG
• Thermofisher Scientific
• Bio-Rad Laboratories
By Product Type
• Troponin Test Kits
• CK-MB Test Kits
• Myoglobin Test Kits
• BNP Test Kit
• C-reactive Protein
• Other Biomarkers
By Disease Indication
• Angina Pectoris
• Myocardial Infraction (MI)
• Cardiac Heart Failure
By Testing Segment
• Laboratory Testing
• Pont-of-care Testing
By Geography Segment Type
- North America (the U.S., Rest of North America)
- Europe (U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, Japan, India, Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America)