Cardiac Biomarkers Market
Number of pages: 100 | Report Format: PDF | Published date: December 14, 2022
Historical Years – 2023 | Base Year – 2023 | Forecasted Years – 2024-2032
|
Report Attribute |
Details |
|
Market size value in 2023 |
US$ 17.31 billion |
|
Revenue forecast in 2032 |
US$ 43.57 billion |
|
Growth Rate |
CAGR of 10.82% from 2023 to 2032 |
|
Base year for estimation |
2023 |
|
Forecast period |
2024-2032 |
|
Segments covered |
Biomarker Types, Application, End-User, and Region. |
|
Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global cardiac biomarkers market was valued at US$ 17.31 billion in 2023 and is expected to register a revenue CAGR of 10.82% to reach US$ 43.57 billion by 2032.
Cardiac Biomarkers Market Fundamentals
Cardiac biomarkers are substances or molecules released into the bloodstream in response to cardiac stress, injury, or dysfunction. These biomarkers serve as indicators of various cardiovascular conditions and are valuable tools in diagnosing, prognosticating, and monitoring heart-related disorders. They are typically measured through blood tests and can provide crucial information about the heart's health and function. Cardiac biomarkers play a crucial role in modern cardiology by aiding in the early detection, diagnosis, and management of various cardiovascular disorders. The choice of biomarkers depends on the clinical context and the specific condition being evaluated. Continuous research and advancements in biomarker discovery contribute to the evolving landscape of cardiac diagnostics.
[7893274]
Cardiac Biomarkers Market Dynamics
The growing incidences of cardiac disorders such as acute coronary syndrome (ACS) or cardiac ischemia drive the global cardiac biomarkers market with a significant rise in revenue share, as these biomarkers are viewed as the gold standard for diagnosing different heart conditions with accuracy. For instance, according to the Centers for Disease Control and Prevention’s article of May 2023, heart disease is one of the leading causes of death in the U.S., which caused around 695,000 deaths in 2021. Furthermore, growing demands for POC (point of care) cardiac biomarker testing kits and growing government and private sector initiatives are major drivers of the market revenue. The rising investments in R&D activities to advance diagnostic techniques also propel market revenue expansion.
However, complicated procedures for diagnosis and strict government regulatory policies can obstruct the cardiac biomarkers market revenue growth. Cardiovascular diseases are often complex, with multifactorial causes. Relying solely on biomarkers for diagnosis and risk assessment may not capture the full complexity of cardiovascular conditions, leading to limitations in their predictive value. Additionally, resistance to change, concerns about limited specificity and sensitivity, and the cost of biomarker testing are some restraints impeding the overall market growth.
Cardiac Biomarkers Market Ecosystem
The global cardiac biomarkers market is analyzed from the following perspectives: biomarker types, applications, end-user, and region.
Cardiac Biomarkers Market by Biomarker Types
[62432445]
Based on the component, the global cardiac biomarkers market has been segmented into cardiac troponin, CK-MB (myocardial muscle creatine kinase), BNP & NT-proBNP (brain natriuretic peptide), myoglobin, and others (IMA (Ischemia Modified Albumin), ALT/AST, etc.).
The troponin segment dominated the market with the principal revenue share in 2023, attributed to the increasing incidences of myocardial infarction, acute coronary syndrome, etc., as the troponin test is imperative in such cases. Moreover, the troponin test provides better accuracy in cardiovascular disease detection with efficient diagnostic procedures, thus contributing to the market revenue expansion. Moreover, due to its accuracy in detecting cardiovascular diseases, the CK-MB segment is estimated to register rapid revenue growth during the forecast period.
Cardiac Biomarkers Market by Application
Based on the application, the global cardiac biomarkers market is segmented into congestive heart failure, acute coronary syndrome, myocardial infarction, and others.
The acute coronary syndrome segment dominates the market with the largest revenue share. This significant revenue share of this segment can be attributed to the prevalence of acute coronary syndrome and the rapid adoption of urbanization leading to the adoption of a sedentary lifestyle. Cardiac biomarkers in ACS applications are crucial for timely and accurate diagnosis, risk assessment, and ongoing management. These biomarkers play a pivotal role in clinical decision-making, allowing healthcare professionals to tailor interventions based on the severity and type of ACS and the patient's overall cardiovascular risk profile. Advances in biomarker technology contribute to improved sensitivity, specificity, and clinical utility in the context of ACS management. These factors contribute to the growth of the orthopedic surgery segment.
Cardiac Biomarkers Market by End User
Based on the end user, the global cardiac biomarkers market is segmented into hospitals and specialty clinics.
The hospital segment dominates the global market, with the largest revenue share in 2023, attributed to the large patient footfall and better healthcare infrastructure. Additionally, the availability of advanced technologies, better facilities, and medical experts also contribute to the revenue growth of this segment. Hospitals are primary centers for diagnostic testing related to cardiac biomarkers. Hospitals utilize cardiac biomarkers for initial screening and diagnosis of cardiovascular conditions for patients admitted with chest pain or shortness of breath. Hospitals, especially emergency departments, are pivotal in the acute management of patients with cardiac emergencies such as myocardial infarction (heart attack). Cardiac biomarkers, particularly troponins, are crucial for diagnosing and triaging patients requiring immediate intervention. These overall factors contribute to the growth of the hospital segment.
The specialty clinics segment is growing rapidly with a significant revenue share due to the availability of favorable reimbursement policies.
Cardiac Biomarkers Market by Region
The global cardiac biomarkers market has been segmented geographically into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global cardiac biomarkers market with the largest revenue share in 2023, attributed to the growing need for surgical automation, established competitors in the industry, technologically improved healthcare IT, and increased funding to upgrade OR infrastructure. North America, including the United States and Canada, faces a high burden of cardiovascular diseases (CVDs), which include conditions such as coronary artery disease, heart failure, and myocardial infarction. The prevalence of risk factors like obesity, diabetes, and hypertension contributes to the high incidence of cardiovascular diseases in the region. Hospitals, clinics, and diagnostic laboratories across North America extensively utilize cardiac biomarkers for diagnostic testing, risk stratification, and monitoring patients with cardiovascular conditions. Troponins, BNP, NT-proBNP, and other biomarkers are crucial in clinical decision-making.
Europe accounts for the second largest revenue share in the cardiac biomarkers market, attributed to the rapid adoption of advanced technologies, well-defined healthcare infrastructure, and growth in the aged population.
Asia Pacific is a rapidly emerging region in market revenue share, owing to the expansion of healthcare expenditure, development in healthcare infrastructure, and rising adoption of advanced technologies. Additionally, growing medical tourism and expanding market players in this region further contribute to regional revenue growth.
Cardiac Biomarkers Market Competitive Landscape
The prominent players operating in the global cardiac biomarkers market are:
Cardiac Biomarkers Market Strategic Developments
The key companies operating in the global cardiac biomarkers market are Siemens AG, Bio-Rad Laboratories Inc., bioMérieux SA, Beckman Coulter Inc., F. Hoffmann-La Roche AG, and Thermo Fisher Scientific Inc.
The troponin biomarker segment accounts for the largest global cardiac biomarkers market revenue share.
The expected revenue CAGR of the global cardiac biomarkers market is 10.8% during the forecast period.
The expected revenue CAGR of the global cardiac biomarkers market is 10.82% during the forecast period.
The global cardiac biomarkers market was valued at US$ 17.31 billion in 2023.
*Insights on financial performance are subject to the availability of information in the public domain
List of Tables
List of Figures