Global Cardiac Biomarkers Market, by Product Type (Myocardial Muscle Creatine Kinase (CK-MB), Myoglobin, Troponins (T and I), Brain Natriuretic Peptide (BNPs) or NT-proBNP, Ischemia-modified Albumin (IMA), and Others), by Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis, and Others), by Location of Testing (Laboratory testing and Point of Care Testing), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 8,099.9 Mn in 2021 and is expected to increase to US$ 16,019.9 Mn by 2028, registering a CAGR of 10.2% during the forecast period (2021 - 2028), as highlighted in a new report published by Coherent Market Insights.
The increasing adoption of inorganic growth strategies by key players operating in the market is expected to drive the growth of global cardiac biomarkers market over the forecast period. For instance, in 2021, Amgen Inc., an American biotechnology company, collaborated with Familial hypercholesterolemia (FH) Foundation, Centers for Disease Control and Prevention (CDC) Foundation, the National Association of Chronic Disease Directors, and Bayer Foundation to form an alliance in order to support the ‘million heart 2022’ initiative by CDC. The aim of million heart 2022 initiative is to prevent at least one million stroke and heart attacks by 2022.
Global Cardiac Biomarkers Market– Impact of Coronavirus (COVID-19) Pandemic
COVID-19 pandemic has adversely affected the healthcare industry. However, COVID-19 pandemic is expected to have a positive impact on the global cardiac biomarkers market as cardiovascular diseases are associated with COVID-19 disease.
COVID-19 is expected to have a negative impact on the supply of raw materials required for production of cardiac biomarkers due to the forced quarantine and lack of labor, which has severely affected the supply chain of the global cardiac biomarkers market.
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. 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 cardiovascular disease becomes more complicated during the course of COVID-19. COVID-19 can cause cardiovascular conditions such as arrhythmia, myocarditis, cardiac injury due to septic shock, and acute coronary syndrome. Cardiac biomarkers aids in the diagnosis and prognosis of COVID-19, which is expected to fuel the growth of cardiac biomarkers market during the pandemic.
Browse 35 Market Data Tables and 35 Figures spread through 186 Pages and in-depth TOC on “Global Cardiac Biomarkers Market”- Forecast to 2028, Global Cardiac Biomarkers Market, by Product Type (Myocardial Muscle Creatine Kinase (CK-MB), Myoglobulin, Troponins (T and I), Brain Natriuretic Peptide (BNPs) or NT-proBNP, Ischemia-modified Albumin (IMA), and Others), by Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis, and Others), by Location of Testing (Laboratory testing and Point of Care Testing), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
To know the latest trends and insights prevalent in the Global Cardiac Biomarkers market, click the link below:
https://www.coherentmarketinsights.com/market-insight/cardiac-biomarkers-market-4576
Key Takeaways of the Global Cardiac Biomarkers Market
- The global cardiac biomarkers market is estimated to be valued at US$ 8,099.9 Mn in 2021 and is expected to increase to US$ 16,019.9 Mn by 2028, registering a CAGR of 10.2% during the forecast period (2021-2028). The rising number of cardiovascular disease cases is expected to drive growth of global cardiac biomarkers market over the forecast period. Moreover, the increasing number of research and development activities for development of novel cardiac biomarkers is expected to drive the growth of global cardiac biomarkers market over the forecast period. For instance, in July 2020, SphingoTec GmbH, a diagnostic company, launched IB10 sphingotest bio-ADM, a CE-IVD-marked point-of-care test, to quantitatively determine blood levels of Bioactive Adrenomedullin (bio-ADM). Blood levels of bio-ADM reflect in real-time the functional status of the endothelium, the inner cell sheet of blood vessels. The bio-ADM is a biomarker for life threatening endothelial dysfunctions such as sepsis, septic shock, acute heart failure, and COVID-19.
- Among product type, troponins (T and I) segment is estimated to hold a dominant position in the global cardiac biomarkers market in 2021. A troponin test measures the levels of troponin T or troponin I proteins in the blood. These proteins are released when the heart muscle is damaged, such as in case of heart attack. Thus, the more damage in the heart implies greater amount of troponin T and I in the blood.
- On the basis of application, acute coronary syndrome segment accounted for the largest market share in the global cardiac biomarkers market over the forecast period. The increasing incidence of acute coronary syndrome is expected to drive the segment growth over the forecast period.
- On the basis of region, North America is estimated to account for the highest share during the forecast period. The increasing product approvals by regulatory bodies is expected to boost the cardiac biomarkers market growth in the region over the forecast period. For instance, in September 2019, Abbott Laboratories, an American multinational medical devices and healthcare company, announced that the company had received the U.S. Food and Drug Administration (FDA) approval for its High Sensitive Troponin-I (hsTnI) Blood Test, which is used to identify people at high risk of heart diseases such as heart attack, heart failure, and others.
- Key players operating in the global cardiac biomarkers market include Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Bio-Rad Laboratories Inc., Danaher Corporation, Randox Laboratories Ltd., Siemens Healthineers, and BioMerieux SA.
