Market Overview:
The global Cardiac Biomarker Market is estimated to be valued at US$ 8,099.9 Mn in 2022 and is expected to exhibit a CAGR of 10.2% over the forecast period (2021-2028), as highlighted in a new report published by Coherent Market Insights. Cardiac biomarkers are substances released into the bloodstream when the heart is damaged or under stress. These biomarkers play a crucial role in the diagnosis, risk stratification, and clinical management of patients with cardiovascular diseases. The increasing prevalence of cardiovascular diseases across the globe and the growing demand for accurate and early diagnostic methods are driving the market growth. Cardiac biomarkers offer several advantages, including rapid results, high sensitivity, and specificity. They aid in the early detection of cardiac disorders, facilitating timely interventions and improving patient outcomes.
Market Key Trends:
One key trend in the Cardiac Biomarker Market is the growing adoption of novel biomarkers for risk stratification. Traditional biomarkers, such as troponins and B-type natriuretic peptide (BNP), have been widely used for diagnosis and prognosis. However, researchers and healthcare providers are exploring the utility of newer biomarkers, such as growth differentiation factor-15 (GDF-15) and high-sensitivity cardiac troponin (hs-cTn), for better risk assessment. These biomarkers offer improved predictive value and can aid in identifying high-risk patients who require intensive treatment or interventions. Moreover, the integration of artificial intelligence (AI) and machine learning algorithms in analyzing biomarker data is enhancing the accuracy and reliability of risk prediction models. This trend is expected to drive the demand for cardiac biomarkers and fuel market growth over the forecast period.
Note: The provided data on key players has been excluded from
Segment Analysis:
One of the key segments in the cardiac biomarker market is the Troponin sub-segment. Troponin is a protein found in cardiac muscle cells and is released into the bloodstream following damage to the heart. It serves as a critical biomarker for diagnosing acute myocardial infarction (AMI) or heart attacks. The Troponin sub-segment dominates the market due to its high specificity and sensitivity in detecting cardiac injury. It allows for early diagnosis, risk stratification, and monitoring of patients with suspected or confirmed heart attacks. Troponin testing is widely adopted in hospitals, clinics, and diagnostic laboratories, driving its dominant position in the market.
Key Takeaways:
The global cardiac biomarker market is expected to witness high growth, exhibiting a CAGR of 10.2% over the forecast period of 2021-2028. This growth can be attributed to several factors. Firstly, there is an increasing prevalence of cardiovascular diseases worldwide, leading to a rising demand for cardiac biomarker testing. Additionally, advancements in technology have resulted in the development of more sensitive and specific biomarkers, allowing for improved diagnosis and treatment monitoring. Furthermore, the growing geriatric population and the adoption of sedentary lifestyles contribute to the increasing incidence of cardiovascular diseases, further fueling market growth.
In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the cardiac biomarker market. This can be attributed to the presence of well-established healthcare infrastructure, high healthcare expenditure, and a significant patient pool suffering from cardiovascular diseases in the region. Additionally, the presence of key market players and their continuous efforts towards technological advancements and product innovation further drive the market growth in North America.
Key players operating in the cardiac biomarker 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 BioMérieux SA. These key players focus on strategic collaborations, product launches, and acquisitions to strengthen their market position and expand their product portfolios. For instance, Abbott Laboratories recently launched a new point-of-care cardiac biomarker test, which provides rapid and accurate results, enabling early diagnosis and intervention for patients with suspected heart attacks.
