Understanding the Cardiac Marker Market’s Growth Prospects from 2024 to 2033
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2024-2033 Forecast: What is the Projected Growth Rate for the Cardiac Marker Market?
In recent times, the cardiac marker market has seen a fast-paced growth. The market size is predicted to rise from $10.4 billion in 2023 to $11.55 billion in 2024, demonstrating a compound annual growth rate (CAGR) of 11.0%. Factors such as an uptick in cardiovascular diseases, an aging population with heightened risk of heart issues, efforts towards health awareness and screening programs, the incorporation of biomarkers in clinical practice, and strict regulatory standards and guidelines, have contributed to the growth experienced during the historical period.
The market size of cardiac markers is projected to experience accelerated growth in the coming years, expanding to $18.08 billion in 2028 with a compound annual growth rate (CAGR) of 11.8%. The growth during the forecast period can be credited to factors such as the increasing incidences of diseases linked to lifestyle, the rise of remote monitoring and telemedicine, advancements in personalized medicine and precision diagnostics, and the adoption of point-of-care testing (poct). The forecast period will also witness trends such as the discovery and validation of biomarkers, the utilization of personalized medicine techniques, tech-forward developments in assay platforms, the integration of high-sensitivity troponin tests, and a spike in cardiovascular disease cases.
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What Are the Main Drivers Behind the Growth of the cardiac marker Market?
The cardiac marker market’s expansion is anticipated to be driven by the surging incidences of heart diseases. These diseases, associating to the structure or function of the heart, cause a variety of health complications. The use of cardiac markers for diagnosing and tracking heart attacks, angina, heart failure, and other cardiovascular conditions is becoming increasingly common. As a result, there is an increased need for diagnostic tests or cardiac markers. For example, the British Heart Foundation, a UK-based cardiovascular research charity, has released data indicating an additional 30,000 deaths from coronary heart disease in England since the onset of the pandemic till August 2022. It was further reported that by the end of August 2022, a staggering 346,000 people were added to the cardiac waiting list. Given these factors, the escalating occurrences of heart diseases can be expected to stimulate the growth of the cardiac marker market.
What Are the Primary Segments of the Cardiac Marker Market?
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
Which Trends Are Revolutionizing the Cardiac Marker Market?
The cardiac marker market is increasingly embracing product innovation as a dominant trend. The leading players in this market are channeling their resources towards the development of unique solutions to assert their market dominance. An example of this occurred in September 2022 when MiRxes, a biotechnology corporation originating from Singapore, confirmed the successful validation of a diagnostic test built on microRNA technology. This test enables swift disease detection and diagnosis. It will, upon its commercial launch, diversify MiRxes’ suite of blood tests used in cancer diagnosis, thereby presenting a comprehensive assortment of early detection methods and decreasing the escalating clinical and socio-economic toll inflicted by severe ailments including cancer and disorders affecting the cardio-pulmonary system.
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Which Geographical Regions Are Pioneering Growth in the Cardiac Marker Market?
North America was the largest region in the cardiac marker market in 2023. The regions covered in the cardiac marker market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Cardiac Marker Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the cardiac marker market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Cardiac Marker Market Include
1. Cardiac Marker Market Executive Summary
2. Cardiac Marker Market Segments
3. Cardiac Marker Market Size And Template Market Growth Rate
4. Key Cardiac Marker Market Trends
5. Major Cardiac Marker Market Drivers
……
25. Key Mergers And Acquisitions In The Cardiac Marker Market
26. Top Cardiac Marker Companies
27. Cardiac Marker Market Opportunities And Strategies
28. Cardiac Marker Market, Conclusions And Recommendations
29. Appendix
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