Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Cardiac biomarker is a protein-based substance that can be quantified for prognostic and diagnostic analysis of heart conditions. Cardiac biomarkers are released into the blood when the heart is suffering from an injury or stress such as lack of oxygen. Measurement of cardiac biomarkers such as cardiac troponin, creatinine kinase, myoglobin, and others are used to diagnose several cardiovascular conditions such as acute coronary syndrome (ACS) and cardiac ischemia.
ACS occurs due to the buildup of plaque in the arteries, which results in the narrowing of artery walls. Plaque rupture leads to a sudden decrease in the amount of oxygenated blood reaching the heart. Shortage of blood supply leads to prolonged chest pain. On the other hand, cardiac ischemia reduces the capability of heart muscles to pump enough blood to meet the requirement of heart cells. Reduced flow of blood causes symptoms such as shortness of breath, chest pain, sweating, and others. Blockage of blood supply for a longer period of time can cause death of the heart cells. This condition is called acute myocardial infarction (AMI) or heart attack. Permanent damage to heart muscles can result in irregular heart contractions also called as arrhythmia, which can be fatal. Cardiac biomarker is an essential tool to detect the presence of ACS or cardiac ischemia in patients and also evaluate the severity of their conditions accurately.
Global Cardiac Biomarkers Market - Impact of the Coronavirus (COVID-19) Pandemic
Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on March 11, 2020.
According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 177 million cases and 3.8 million deaths due to COVID-19 were reported till June 20, 2021, across the globe.
Impact of COVID-19 on Demand and Supply of Cardiac Biomarkers
The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. Biotechnology sector is one such sector that has been majorly impacted by the pandemic.
The COVID-19 pandemic has affected the supply chain logistics of biotechnology industry mainly due to strict lockdown in several regions and also halted many ongoing clinical trials. However, the demand for cardiac biomarkers assay is expected to increase in this COVID-19 pandemic, owing to rising number of cardiovascular conditions associated with COVID-19 disease.
According to the article published in the National Center for Biotechnology Information (NCBI) in March 2021, even though novel coronavirus majorly affects the upper respiratory tract, it also leads to several conditions at a systemic level. Existing co-morbid condition such as a cardiovascular disease becomes more complicated during the course of COVID-19 infection. COVID-19 can cause cardiovascular conditions such as arrhythmia, myocarditis, cardiac injury due to septic shock, and acute coronary syndrome. The same study reveals that viral infections such as COVID-19 promote plaque rupture that leads to cardiovascular conditions such as acute coronary syndrome. Cardiac biomarkers aids in the diagnosis and prognosis of COVID-19 infection, which is expected to fuel the growth of cardiac biomarkers market during the pandemic.
Thus, the impact of the coronavirus (COVID-19) pandemic is expected to fuel the growth of the global cardiac biomarkers market during the forecast period, as cardiac biomarkers may act as a measure to determine the severity and mortality of COVID-19 infection. According to a study published by Nature Journal in March 2021, significant higher levels of cardiac biomarker- troponin has been observed in critically-ill COVID-19 patients.
The global cardiac biomarkers market is estimated to be valued at US$ 4,869.2 Mn in 2021, and is expected to exhibit a CAGR of 10.4% over the forecast period (2021-2028).
Cardiac Biomarkers Market Report Coverage
||Market Size in 2021:
||US$ 4,869.2 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 9,732.9 Mn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East: GCC, Israel, and Rest of Middle East
- Africa: South Africa, North Africa, and Central Africa
- By Product Type: Myocardial Muscle Creatine Kinase (CK-MB), Troponins (T and I), Myoglobin, Brain Natriuretic Peptide (BNPs) or NT-proBNP, Ischemia-modified Albumin (IMA), Others
- By Application: Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis, Others
- By Location of Testing: Laboratory Testing, Point of Care Testing
Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Bio-Rad Laboratories, Danaher Corporation, Randox laboratories, Beckman Coulter, Siemens Healthcare, Becton, Dickinson and Company, BioMerieux, Creative Diagnostics, and Alere Inc.
- Increasing prevalence of cardiovascular diseases
- Increasing research and development activities by the market players
|Restraints & Challenges:
- Lack of specificity of cardiac biomarkers
- Limited sensitivity of some cardiac biomarkers
Figure 1: Global Cardiac Biomarkers Market Share (%) Analysis, By Application, 2021
The increasing number of cardiovascular diseases is the major factor that is expected to drive the market growth over the forecast period.
The rising number of cardiovascular disease cases is expected to drive growth of cardiac biomarkers market over the forecast period. For instance, according to the American College of Cardiology Foundation, in 2019, there were approximately 1.05 million people suffering from coronary diseases in the U.S. Moreover, according to the Centers for Disease Control and prevention (CDC) report 2020, around 805,000 Americans have a heart attack every year.
Moreover, increasing number of research and development activities for improving the effectiveness of cardiac biomarkers-based tests is expected to aid in the growth of the market over the forecast period. For instance, in 2019, Ortho Clinical Diagnostics, an American in-vitro diagnostics company, developed a more rapid and accurate assay for the detection of heart attack. This newly developed Vitros High Sensitivity Troponin I Assay is based on the quantitative measurement of troponin, which is a cardiac biomarker.
Rising product launches and approvals is expected to drive the growth of cardiac biomarkers market over the forecast period. For instance, in 2017, F. Hoffmann-La Roche AG received the U.S Food and Drug Administration 510(k) clearance for its product TnT Gen 5 STAT (Elecsys Troponin T Gen 5 STAT), which is a blood test done for the detection of heart attack in high-risk patients such as those who have already experienced a cardiovascular condition in the past.
Global Cardiac Biomarkers Market – Restraints
However, the lack of specificity and the need for a more sensitive cardiac biomarker analysis system may act as a restraint in the growth of cardiac biomarkers market. For instance, according to an article by the American Association for Clinical Chemistry (AACC) in June 2020, use of cardiac biomarkers as point-of-care testing (POCT) requires a high sensitivity diagnostic tool as POCT fails to detect minute levels of cardiac biomarker- troponin. Hence, such assays cannot be used for rapid decision-making as one has to wait for several hours before troponin levels increases in the patient and the system is able to detect it.
Global Cardiac Biomarkers Market – Regional Analysis
On the basis of region, the global cardiac biomarkers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to hold dominant position in the global cardiac biomarkers market over the forecast period, owing to rising number of product approvals. For instance, in 2018, Abbott laboratories, an American medical device company, received the CE mark (which means that this product can be marketed in Europe) by the regulatory authority body European Economic Area (EEA) for its High Sensitive troponin-I blood test. This cardiac biomarker-based diagnostic tool helps in early detection of heart attack in healthy adults.
The rising healthcare funding by the American government to manage cardiovascular diseases is expected to fuel the market growth of cardiac biomarkers. For instance, in 2018, the National Institutes of Health (NIH), U.S made a funding of US$ 2.3 billion for R&D (Research & Development) related to cardiovascular diseases for proper management and early treatment of cardiovascular diseases.
Figure 2: Global Cardiac Biomarkers Market Value (US$ 1,894.1 Mn), by Region, 2021
Global Cardiac Biomarkers Market – Competitive Landscape
Major players operating in the global cardiac biomarkers market include Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific, Bio-Rad Laboratories, Danaher Corporation, Randox laboratories, Beckman Coulter, Siemens Healthcare, Becton, Dickinson and Company, BioMerieux, Creative Diagnostics, and Alere Inc.