Thursday, June 13, 2024

Cardiac Biomarkers Market Size Worth USD 17.55 Billion By 2028

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Market Overview The global Cardiac Biomarkers market reached a value of USD 7.96 billion in 2020 and is projected to attain USD 17.55 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 10.4%. Cardiovascular disease (CVD) is the leading cause of death, often resulting from conditions such as narrowed or blocked blood vessels, which can lead to events like strokes, heart attacks, or angina (chest pain). According to the World Health Organization, adopting measures like quitting tobacco, reducing dietary salt, consuming fruits and vegetables, engaging in regular physical activity, and avoiding excessive alcohol use can mitigate the risk of cardiovascular diseases. Cardiac biomarkers are naturally occurring substances, including enzymes, hormones, and proteins, released into the bloodstream when the heart is under stress or pressure. They serve as indicators to detect the presence and severity of cardiovascular diseases, with symptoms such as chest pain, discomfort, sweating, dizziness, and shortness of breath. These biomarkers aid in diagnosing cardiac ischemia and acute coronary syndrome (ACS).

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Market Synopsis Rising public and private investments, increased awareness of early diagnostics, and the development of regulatory frameworks for biomarkers are driving market growth while reducing the incidence of CDVs. Due to the rising rates of CVD morbidity and mortality and substantial government funding, research activities have intensified to prevent and treat cardiac diseases, making it a global health priority. Cardiac biomarkers are known for their accuracy and fast delivery systems, fueling market growth.

Market limitations include operational costs in the manufacturing process, stringent clinical trial guidelines, regulatory challenges, and cost-effective developments related to approvals, which hinder market expansion.

Pharmaceutical and biotechnology companies have shifted their focus toward the research and development of biomarkers and related products for rapid treatment, contributing to market growth. For example, Philips launched the Minicare I-20 Troponin blood test device in August 2016, offering rapid detection in under 10 minutes to save patients’ lives.

Key Report Highlights:

  • Regional and country-specific analysis from 2019 to 2028, using historical data from 2016-2017, a base year of 2020, and forecasts for 2019-2028.
  • Clinical pipeline analysis of regional competitors.
  • Demand and supply gap analysis.
  • Market share analysis of key industry players.
  • Strategic recommendations for newcomers.
  • Market forecasts for a minimum of 6 years for all mentioned segments and regional markets.
  • Market trends, including drivers, constraints, opportunities, threats, challenges, and recommendations.
  • Strategic recommendations for key business segments based on market estimates.
  • Competitive landscape mapping common trends.
  • Company profiles with detailed strategies, financials, and recent developments.

Notable Trends in the Cardiac Biomarkers Market:

  • Cardiovascular diseases (CVDs) are the leading global cause of death, responsible for an estimated 9.6 million deaths in 2020.
  • The World Health Organization attributes 17.9 million annual deaths to CVDs, accounting for 31% of all global deaths, primarily due to tobacco use, unhealthy diets, physical inactivity, and alcohol abuse.
  • Cardiovascular disease is the underlying cause of nearly 836,546 deaths in the United States, representing one in three deaths.
  • Beckman Coulter received FDA clearance for its Early Sepsis Indicator in April 2019, a hematology-based cancer cell biomarker.
  • Abbott Laboratories received CE mark for its High Sensitive Troponin-I diagnostic test in September 2020, enabling the early prediction of heart attacks.
  • In March 2017, Fujirebio Europe launched the LUMIPULSE G HS TROPONIN I assay for diagnosing Acute Myocardial Infarction (AMI).
  • Roche received FDA clearance for its Elecsys Troponin T Gen 5 STAT (TnT Gen 5 STAT) blood test in January 2017 for patients with suspected heart attacks.
  • The Cortez Diagnostics introduced the 3 in 1 Troponin I/CK-MB and Myoglobin Serum whole blood RapiCard InstaTest for myocardial infarction diagnosis.
  • The Abbott-Alere merger in October 2017 expanded Abbott’s global point-of-care testing portfolio.
  • In June 2015, Roche launched an improved CARDIAC point-of-care (POC) Troponin T test for diagnosing heart attacks.
  • HyTest’s troponin I-T-C complex was chosen as reference material for troponin I assays by the American Association for Clinical Chemistry in 2004.
  • Promising products in the clinical pipeline are expected to support market growth.

Market-O-Nomics:

  • Ischemia Modified Albumin (IMA) is the fastest-growing product type segment, projected to grow at a 12.1% CAGR during the forecast period due to extensive research by many companies for developing new drugs.
  • The Congestive Heart Failure segment exhibits the highest CAGR of 11.3%.
  • The Asia Pacific region has the highest prevalence of undiagnosed cardiac patients, with an anticipated 24.90% market share.
  • The laboratory testing segment dominated the market in 2020 due to the demand for highly reliable and accurate results, attracting vendors to produce biomarkers for laboratory services.
  • The Troponins segment is the leading segment, valued at USD 2663.6 million, known for its accurate detection of cardiovascular diseases and identification of Acute Myocardial Infarction (AMI).
  • The Acute Coronary Syndrome (ACS) segment held the largest market share in 2020 at 40.8%, owing to its high prevalence among CVDs.
  • Hospitals and clinics are the primary users of cardiac biomarkers, given their high acceptance for detecting myocardial necrosis and using imaging procedures to identify abnormalities leading to heart attacks.
  • The North America regional segment of the cardiac biomarkers market is growing at a rate of 10.2% due to the need for cardiac testing and a high incidence of cardiovascular disease.

Report Segmentation: The Global Cardiac Biomarkers Market is segmented based on product type, location of testing type, application, end user, and regional outlook at a global, regional, and country level, providing market trend analysis for each sub-segment from 2020 to 2028.

Product Type (Revenue, USD Million; 2020–2028):

  • Brain Natriuretic Peptide (BNPs) or NT-proBNP
  • Ischemia Modified Albumin (IMA)
  • Myoglobin
  • Troponins (T and I)
  • Myocardial muscle Creatine Kinase (CK-MB)
  • Others

Location of Testing (Revenue, USD Million; 2020–2028):

  • Laboratory Testing
  • Point of Care Testing

Application (Revenue, USD Million; 2020–2028):

  • Myocardial Infarction
  • Congestive Heart Failure
  • Acute Coronary Syndrome
  • Atherosclerosis
  • Others

End User (Revenue, USD Million; 2020–2028):

  • Diagnostic Laboratories
  • Hospitals and Clinics

Regional Outlook (Revenue, USD Million; 2020–2028):

  • North America (U.S., Canada)
  • Europe (Germany, UK, Spain, France, Italy, Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Rest of Asia-Pacific)
  • Latin America (Brazil, Mexico)

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