PUBLISHER: The Business Research Company | PRODUCT CODE: 1597011
PUBLISHER: The Business Research Company | PRODUCT CODE: 1597011
Cardiac troponin refers to a set of proteins located in the heart muscle (myocardium) that play a crucial role in regulating heart contractions. These troponins are components of the muscle fiber proteins that manage the interaction between actin and myosin, which are vital for muscle contraction. They serve as biomarkers used for diagnosing heart injuries, particularly in the case of heart attacks.
The primary types of cardiac troponin are troponin I and troponin T. Troponin I is a protein present in heart muscle cells that aids in the regulation of muscle contractions, and increased levels of Troponin I in the bloodstream may indicate heart injury or stress, making it critical for precise cardiac diagnostics. Testing can be conducted in laboratory environments as well as through point-of-care (PoC) testing, applicable in scenarios such as acute coronary syndrome, myocardial infarction, and congestive heart failure, among others. The end users of this testing include hospitals, diagnostic centers, home care settings, and more.
The cardiac troponin market research report is one of a series of new reports from the business research company that provides cardiac troponin market statistics, including cardiac troponin industry global market size, regional shares, competitors with an cardiac troponin market share, detailed cardiac troponin market segments, market trends and opportunities, and any further data you may need to thrive in the cardiac troponin industry. This cardiac troponin market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The cardiac troponin market size has grown rapidly in recent years. It will grow from $3.49 billion in 2023 to $3.85 billion in 2024 at a compound annual growth rate (CAGR) of 10.3%. The increase during the historical period can be linked to the growing incidence of cardiovascular diseases, heightened awareness and early detection of heart issues, the development of healthcare infrastructure in emerging markets, a rise in the elderly population, and the introduction of high-sensitivity cardiac troponin assays.
The cardiac troponin market size is expected to see rapid growth in the next few years. It will grow to $5.73 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. In the forecast period, growth can be attributed to the increasing prevalence of lifestyle-related cardiovascular diseases, the expansion of cardiac care units in hospitals, a greater adoption of home healthcare services, advancements in personalized medicine, and the demand for more efficient and cost-effective diagnostic methods. Key trends during the forecast period include the use of machine learning algorithms for data interpretation in cardiac care, expanding the use of cardiac troponin beyond acute coronary syndrome, progress in multiplex testing for simultaneous biomarker analysis, the creation of new biomarkers alongside troponin, and developments in personalized medicine.
The rising incidence of heart-related diseases is anticipated to drive the growth of the cardiac troponin market in the future. These diseases include various cardiovascular issues such as coronary artery disease, heart failure, arrhythmias, and congenital heart defects, all of which impact the heart's structure and functionality. Factors contributing to this increasing prevalence include aging populations, sedentary lifestyles, unhealthy dietary habits, and escalating rates of obesity and hypertension. Cardiac troponin plays a vital role in diagnosing heart-related issues as it serves as a highly sensitive biomarker for identifying heart muscle damage, especially in the context of heart attacks and other cardiac events. For example, the Report on Registration of Births and Deaths 2023 from Singapore's Immigration and Checkpoints Authority and Ministry of Health indicated that deaths from ischemic heart diseases totaled 5,302, marking a slight rise from 5,290 in 2022. Thus, the growing prevalence of heart conditions is expected to boost the cardiac troponin market.
Key players in the cardiac troponin market are concentrating on developing new technologies, such as human serum-based quality control, to enhance the accuracy and reliability of high-sensitivity troponin testing through multi-analyte controls. This quality control approach utilizes human serum with known troponin levels to validate assay performance. For instance, in May 2023, Bio-Rad Laboratories, Inc., a biotechnology research firm based in the U.S., launched Cardiac Advance, a multi-analyte quality control system specifically tailored for high-sensitivity troponin testing. These liquid, human-serum-based controls are provided in InteliQ 3-mL tubes, Liquichek 3-mL standards, and 2.5-mL compact vials. They include 10 cardiac analytes, such as troponin, CK-MB, BNP/proBNP, and myoglobin, and are compatible with testing platforms from Siemens and Roche. These products are available in the U.S., Europe, and select Asian markets.
In February 2022, Prolight Diagnostics AB, a Swedish medical equipment manufacturer, acquired Psyros Diagnostics Ltd. for $5.78 million. This acquisition aims to integrate Psyros Diagnostics' advanced single-molecule counting technology into Prolight Diagnostics' offerings, resulting in the development of highly sensitive, rapid, and cost-effective point-of-care (POC) testing solutions. This move enhances their capabilities across various clinical areas and solidifies their presence in the POC market. Psyros Diagnostics Ltd., a UK-based company, has created the Psyros POC system, a device designed to measure the cardiac troponin biomarker.
Major companies operating in the cardiac troponin market are F. Hoffmann-La Roche Ltd, Thermo Fisher Scientific Inc., Abbott Laboratories, Merck KGaA, Siemens Healthineers AG, Becton Dickinson and Company, Laboratory Corporation of America Holdings (Labcorp), Zoetis Inc., bioMerieux SA, Beckman Coulter Inc., QuidelOrtho Corporation, Sysmex Corporation, Bio-Rad Laboratories Inc., Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Radiometer Medical ApS, Randox Laboratories Ltd., Fujirebio Diagnostics Inc., Meso Scale Diagnostics LLC., Singulex Inc., Diazyme Laboratories Inc., Response Biomedical Corporation, Eurolyser Diagnostica GmbH, LifeSign LLC
North America was the largest region in the cardiac troponin market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiac troponin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the cardiac troponin market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The cardiac troponin market consists of sales of diagnostic assays, test kits, point-of-care testing devices, and high-sensitivity troponin tests. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Cardiac Troponin Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cardiac troponin market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cardiac troponin ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The cardiac troponin market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.