PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423666
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1423666
According to Stratistics MRC, the Global Cardiac Biomarkers Market is accounted for $18.7 billion in 2023 and is expected to reach $54.8 billion by 2030 growing at a CAGR of 16.6% during the forecast period. Cardiac biomarkers are specific molecules or proteins released into the bloodstream due to heart injury, damage or stress. These biomarkers, such as troponins, creatine kinase-MB (CK-MB), and B-type natriuretic peptide (BNP), are used in diagnostics to indicate heart-related conditions. Their detection and levels aid in diagnosing heart attacks, heart failure or other cardiac diseases, guiding treatment decisions and assessing cardiac health.
According to the World Health Organization (WHO), 77 million adults above 18 years have type 2 diabetes, with 25 million prediabetics. This increases cardiovascular disease risk and puts additional pressure on the health system.
Rising cardiovascular diseases
With an increasing global burden of heart-related conditions like heart attacks, heart failure and cardiac ischemia, there's a growing demand for reliable diagnostic tools. Cardiac biomarkers serve as vital indicators, aiding in the early detection, diagnosis, and prognosis of cardiovascular ailments. Their ability to accurately assess heart health, predict risks, and guide treatment strategies aligns with the pressing need for efficient, timely, and precise diagnostics in combating the rising incidence of cardiovascular diseases worldwide.
Stringent regulations
Stringent regulations pose a restraint on cardiac biomarker development and implementation. The rigorous approval processes set by regulatory bodies demand extensive clinical validation, often prolonging the time-to-market for new biomarkers. These stringent guidelines necessitate comprehensive studies to ensure accuracy, sensitivity and specificity in detecting cardiac conditions. Compliance with these regulations involves significant investment in research, clinical trials, and meeting specific performance criteria, leading to increased costs and time constraints.
Increasing focus on point-of-care testing
Point-of-care tests allow for rapid and convenient on-site diagnostics, offering immediate results without the need for sending samples to a central laboratory. In cardiac care, this facilitates quicker detection of biomarkers like troponins, enabling faster diagnosis of heart conditions such as heart attacks. This shift enhances patient care by expediting treatment decisions, especially in emergency settings and supports healthcare systems by reducing turnaround times and improving overall efficiency in managing cardiac emergencies.
Emergence of alternative diagnostic methods
New technologies, such as advanced imaging techniques or point-of-care testing devices, might offer rapid, non-invasive and possibly more cost-effective ways to assess cardiac health. These alternatives could challenge the dominance of traditional biomarker testing, impacting market adoption and preferences among healthcare providers.
The COVID-19 pandemic influenced cardiac biomarker testing by diverting healthcare resources towards managing the virus. Reduced non-COVID medical visits led to fewer cardiac evaluations, impacting biomarker testing frequency. Additionally, some COVID patients experienced cardiac complications, increasing the demand for biomarker assessments. The pandemic's strain on healthcare systems altered priorities, affecting cardiac biomarker utilisation and emphasising the need for adaptable diagnostic strategies during health crises.
The troponins segment is expected to be the largest during the forecast period
The troponins segment is projected to dominate due to its widespread use as a highly sensitive and specific cardiac biomarker for diagnosing heart-related conditions. Troponins, especially troponin I and troponin T, exhibit superior sensitivity in detecting myocardial injury, notably for diagnosing heart attacks. The growing prevalence of cardiovascular diseases globally and the increasing adoption of troponin testing in routine clinical practice contribute to its anticipated prominence, making it the largest segment in cardiac biomarker testing during the forecast period.
The hospitals segment is expected to have the highest CAGR during the forecast period
The hospitals segment is poised for substantial growth due to increased patient access to advanced healthcare services and diagnostic facilities in hospital settings. Hospitals serve as primary centres for acute care, where cardiac biomarker testing plays a pivotal role in diagnosing heart-related conditions. Rising incidences of cardiovascular diseases and the need for timely and accurate diagnostics within hospital environments contribute to the segment's anticipated growth.
North America's anticipated dominance in the cardiac biomarkers market is attributed to well-established healthcare infrastructure, technological advancements and high healthcare spending. The region's robust research and development activities, along with the presence of key market players, contribute to its significant market share. Additionally, the high prevalence of cardiovascular diseases, coupled with increasing awareness and adoption of advanced diagnostic techniques, drives market growth.
The Asia-Pacific region is poised for substantial growth in the cardiac biomarker market due to the increasing prevalence of cardiovascular diseases, a rising ageing population and improving healthcare infrastructure. The region witnesses a growing awareness of cardiac health, driving demand for advanced diagnostic tools. Additionally, initiatives by governments and healthcare organisations to enhance cardiac care contribute to the market's expansion. The increasing adoption of cardiac biomarkers in countries like China and India, along with advancements in healthcare technologies, positions the Asia-Pacific region for significant market growth.
Key players in the market
Some of the key players in Cardiac Biomarkers Market include Abbott Laboratories, Beckman Coulter, Becton, Dickinson and Company (BD), BG Medicine, Bio-Rad Laboratories, Corgenix , Fujirebio, Hologic, Meso Scale Diagnostics (MSD), Mindray, Ortho Clinical Diagnostics, Pathkind Labs, Qiagen, Randox Laboratories, R-Biopharm AG, Response Biomedical, Roche Diagnostics, Siemens Healthineers, Singulex Inc, SRL Diagnostics, Thermo Fisher Scientific and Trinity Biotech.
In October 2023, Mindray has announced the introduction and global launch of two new high-sensitivity troponin I (hs-cTnI) and NT-proBNP cardiac biomarkers. The additions enhance Mindray's diverse portfolio of cardiac biomarkers for diagnosing and managing cardiovascular diseases (CVDs), according to a written statement issued by the global medical devices and solutions provider.
In January 2023, Pathkind Labs, Roche Diagnostics partner to release cardiac biomarker. This announcement of NTProBNP comes in light of the growing burden of heart failure among T2D patients in India, inciting the need for urgent action. NTProBNP can directly predict adverse outcomes and cardiovascular mortality and can evaluate the overall status of a patient with type 2 diabetes to facilitate the establishment of correct therapy management and follow-up.
In September 2022, SRL Diagnostics launched "Heart Assure," a specialized test that can predict the risk of a cardiac event in an individual. High-sensitivity troponin I is a simple blood test that can precisely predict a cardiac injury by providing a heart health risk score.