Cardiac Biomarkers Market Forecast 2023-2027 By The Business Research Company
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s cardiac biomarkers market report forecasts the cardiac biomarkers market size to grow to $27.88 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.
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Cardiac Biomarkers Market Size Forecast
The global cardiac biomarkers market is expected to grow from $15.22 billion in 2022 to $17.22 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiac biomarkers market size is expected to reach $27.88 billion in 2027 at a CAGR of 12.8%.
North America held the largest cardiac biomarkers market share.
Key Cardiac Biomarkers Market Driver – Rise In The Prevalence Of Cardiovascular Disorders
According to the Centres for Disease Control and Prevention, the US national public health agency, around 697,000 individuals died from heart disease in the United States in 2020, accounting for one out of every five deaths. Furthermore, by 2030, approximately 12.1 million persons in the United States are predicted to suffer from atrial fibrillation (A-Fib). As a result, the increased prevalence of cardiovascular illnesses is propelling the cardiac biomarker market forward.
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Key Cardiac Biomarkers Market Trend – Technological Advancement
Companies in the cardiac biomarker market are embracing new technologies in order to maintain their market position. For example, in April 2021, Roche Diagnostics, a Swiss healthcare business, announced five new Elecsys-based solutions for two important cardiac biomarkers, highly sensitive cardiac troponin T (cTnT-hs) and the N-terminal pro-brain natriuretic peptide test (NT-proBNP). These solutions aid in the identification of cardiac risk and the improvement of diagnosis. They also aid in the identification of cardiovascular risk, the better diagnosis of patients, and the support of early treatment.
Cardiac Biomarkers Market Segment
1) By Biomarkers Type: Creatine Kinase (CK-Mb), Troponins, Myoglobin, Natriuretic Peptides (BNP And NT-proBNP), Ischemia Modified Albumin (IMA), Other Biomarker Types
2) By Location Of Testing: Point Of Care Testing, Laboratory Testing
3) By Application: Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome (ACS), Atherosclerosis, Other Applications
4) By End User: Hospitals, Specialty Clinics
Cardiac Biomarkers Market Major Players and Strategies
Major players in the cardiac biomarkers market are bioMerieux Inc., Bio-Rad Laboratories Inc., F. Hoffmann-La Roche AG, Siemens AG, Thermo Fisher Scientific Inc., Creative Diagnostics, Randox Laboratories Ltd., Becton Dickinson and Company, Tosoh Corporation, Life Diagnostics, PerkinElmer Inc., Quidel Corporation, ACS Biomarker BV, LSI Medience Corp., and Roche Diagnostics.
Shenzhen Mindray Bio-Medical Electronics Co., Ltd., a China-based medical equipment and solutions supplier, acquired HyTest Ltd. for an unknown sum in September 2021. Mindray intends to use this acquisition to increase its position in the worldwide IVD market and grow its footprint in Europe and other international markets. Mindray also intends to expand its research and development operations, as well as stimulate the discovery of new technologies and academic collaborations. HyTest Ltd. is a Finnish company that specialises in in-vitro diagnostic (IVD) reagents for cardiac biomarkers.
The Cardiac Biomarkers Global Market Report 2023 covers regional data on cardiac biomarkers market size, cardiac biomarkers market trends and drivers, opportunities, strategies, and cardiac biomarkers market competitor analysis. The countries covered in the cardiac biomarkers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Cardiac biomarkers are substances produced into the bloodstream by the heart when it is wounded or stressed. It is used to diagnose and measure various heart vascular disorders.
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