What Will The Cardiac Marker Market Look Like In 2023?
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 marker market report forecasts the cardiac marker market size to grow to $16.08 Billion by 2027, with a CAGR (compound annual growth rate) of more than 11%.
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Cardiac Marker Market Size Forecast
The global cardiac marker market is expected to grow from $9.40 billion in 2022 to $10.40 billion in 2023 at a compound annual growth rate (CAGR) of 10.66%. 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 global cardiac marker market size is expected to reach $16.08 billion in 2027 at a CAGR of 11.50%.
North America held the largest cardiac marker market share.
Key Cardiac Marker Market Driver – Rise In The Prevalence Of Cardiac Diseases
According to the British Heart Foundation, a cardiovascular research charity in the United Kingdom, there were 30,000 extra deaths from coronary heart disease in England between the start of the epidemic and August 2022. By the end of August 2022, a record 346,000 people were on a cardiac waiting list. As a result, the increased prevalence of heart illnesses will drive the growth of the cardiac marker market.
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Key Cardiac Marker Market Trend – Product Innovation
To strengthen their market position, major market players are focused on innovative solutions. For example, MiRxes, a Singapore-based biotechnology company, validated a microRNA-based diagnostic test for the early identification and diagnosis of the illness in September 2022. When it is commercialised, the test will add to MiRxes’ array of cancer blood tests, providing a full range of early detection alternatives to reduce the growing clinical and socioeconomic burden of life-threatening illnesses such as cancer and cardio-pulmonary ailments.
Cardiac Marker Market Segment
1) By Biomarker: Troponin, Creatine Kinase-MB (CK-MB), B-type Natriuretic Peptide (BNP), Myoglobin, Other Biomarkers
2) By Product: Reagent, Instrument, Chemiluminescence, Immunofluorescence, Immunochromatography, ELISA
3) By Indication: Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Other Indications
4) By End User: Laboratory Testing Facilities, Hospital Labs, Reference Labs, Contract Testing Labs, Point-Of-Care Testing Facilities, Academic Institutions
Cardiac Marker Market Major Players and Strategies
Major players in the cardiac marker market are Abbott Laboratories Inc., Siemens AG, Danaher Corporation, BioMérieux SA, F. Hoffmann-La Roche Ltd., Beckman Coulter Inc., Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., Guangzhou Wondifo Biotech Co. Ltd., Siemens AG, Creative Diagnostics, PerkinElmer Inc., Tosoh Corporation, Quidel Corporation, Randox Laboratories Ltd., Getinge Group, Roche Diagnostics Ltd., ISI Medience Corporation, Ortho Clinical Diagnostics, LSI Medience Corporation, and DiaSorin.
MBio Diagnostics, a US-based manufacturer of laboratory tools and instrumentation systems, merged with Brava Diagnostics in July 2020 for an unknown sum. Brava became MBio’s human in vitro diagnostics branch as a result of this merger, offering a variety of point-of-care tests for which lab-quality data is critical for making quick decisions. Brava Diagnostics is a firm established in the United States that develops and commercialises acute care diagnostic products such as biomarkers and cardiac markers.
The Cardiac Marker Global Market Report 2023 covers regional data on cardiac marker market size, cardiac marker market trends and drivers, opportunities, strategies, and cardiac marker market competitor analysis. The countries covered in the cardiac marker 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 indicators are biomolecules that are released into the bloodstream when the heart muscle is damaged or stressed. It is used to diagnose and monitor a wide range of cardiac illnesses such as heart attacks, angina, and heart failure.
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