The cardiac biomarkers market is expected to reach USD13.3 billion by 2024, according to a new report by Grand View Research, Inc. The cardiac biomarkers market is anticipated to witness a lucrative growth during the forecast period from 2016 to 2024. Analysis of global market trends focuses on the increasing demand for cardiac biomarkers owing to its increased adoption in cardiovascular disease diagnosis. Furthermore, this growth is attributed to a majority of factors, such as the high prevalence of Acute Coronary Syndrome (ACS), continual technological advancements in the development of cardiovascular biomarkers, increasing number of new product launches by the key market players, rising demand for point of care cardiac testing kits, along with the high specificity and sensitivity of these biomarkers in the detection of cardiovascular diseases, especially acute myocardial infarction.
The cardiac biomarkers market has been classified by type into troponin, Creatine kinase-MB(CK-MB), B-type Natriuretic Peptide (BNP), and N-terminal pro b-type natriuretic peptide (NT-proBNP), myoglobin, and others. Troponin is a heteromeric protein and comprises cardiac troponin T & I, which are abbreviated as cTnT & cTnI, respectively. The troponin biomarkers segment is expected to grow lucratively in the forecast period at a significant CAGR. The diagnostic efficiency and specificity related to cardiac biomarker testing renders it a universally gold standard test to diagnose cardiovascular disorders worldwide. The market by application is segmented into acute coronary syndrome, myocardial infarction, congestive heart failure, and others. ACS is expected to be the highest grossing segment according to the study. ACS is responsible for huge medical costs globally and is responsible for most hospital readmission cases. The increasing efforts to cut down worldwide ACS prevalence rates are expected to drive the growth of the biomarkers market.
The key countries included in the report are U.S., Canada, Germany, UK, China, India, Brazil, Mexico, South Africa, and the Middle East. North America accounted for the largest market in 2015, whereas the Asia Pacific region is anticipated to be the fastest growing region during the forecast period.
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Further key findings from the study suggest:
- North America is estimated to dominate the global cardiac biomarkers market. The high prevalence of coronary heart disease in western countries is one of the major factors contributing to the high demand for cardiac biomarker diagnostics.
- The Asia Pacific region is anticipated to be the fastest growing region in the study period owing to the large population, especially in China and India. Apart from that, there exists a high prevalence rate of myocardial infarction in the region. This prevalence rate is expected to fuel the demand for cardiac biomarker diagnostics.
- The troponin biomarker segment is expected to grow at a significant rate, and is expected to grow at the highest CAGR compared to others and accounts for the largest market share in 2015.
- The sector comprises of several local as well as global players. Some of the major players of this vertical include Alere, Inc., Siemens Healthcare GmbH, Roche Diagnostics, Beckman Coulter, Inc., Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, and bioMerieux SA.
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