The Global Market for Cardiac Biomarkers is Projected to Reach US$4.5 Billion by 2022

Growing Prevalence of Cardiovascular Diseases to Spur Demand for Cardiac Biomarkers, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Cardiac Biomarkers market. The global market for Cardiac Biomarkers is projected to reach US$4.5 billion by 2022, spurred by increasing prevalence of cardiovascular diseases (CVDs), commercialization of high-accuracy markers, and robust demand for POC Cardiac Tests.

Early diagnosis of cardiac disease is essential for combating disease risks and associated treatment costs. Owing to their precision in early detection of risks associated with cardiac diseases, biomarkers emerged as an invaluable tool in detecting cardiovascular diseases that constitute a leading cause of mortality in several nations, globally. Cardiac biomarkers, used in the diagnosis and prognosis of myocardial infarction and heart failure, are one of the fastest growing segments of the clinical immunoassay diagnostics market. The markers are released into the blood, following an event, as a result of necrotic tissue. Cardiac biomarkers allow physicians to accurately diagnose and stratify patients with major cardiovascular diseases, and also provide required therapies. Creatine kinase-MB (CK-MB), Troponin, and Myoglobin are the widely used cardiac biomarkers that enable quick and accurate diagnosis and prognosis of Myocardial Infarction (MI); while B-type Natriuretic Peptide (BNP) and NT-proBNP help in the diagnosis of suspected Congestive Heart Failure (CHF).

While Laboratory Cardiac Testing remains the gold standard for cardiac biomarker assay testing, the Point-of-Care (POC) Cardiac Testing market is expanding rapidly owing to the availability of POC assay test kits that deliver accurate results promptly and cost-effectively with standardization for minimizing operational errors. The increasing adoption of sensitivity and premium-priced POC Troponin tests is contributing to the growth of the global cardiac POC tests market. The move towards value-based and efficient healthcare service delivery against the backdrop of stringent budgets is boosting the prospects for the POC Cardiac testing market. Moreover, a large number of medical professionals prefer POC cardiac testing to quickly monitor the condition of patients experiencing chest pain or other heart ailment symptoms in emergency care environments.

As stated by the new market research report on Cardiac Biomarkers, the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 13.0% over the analysis period, supported by high prevalence of cardiovascular diseases, yet high unmet cardiac care needs, growing use of cardiac tests in healthcare institutions, growing levels of physician and patient awareness, favorable government policies, the availability of reimbursements for cardiac diagnostics, ambitious initiatives for modernizing healthcare infrastructure, improving healthcare access, and increasing affordability of advanced cardiac therapies. Notably, the mortality rate attributed to cardiovascular diseases is declining in developed countries, mirroring the developments in cardiology care. Emerging markets are setting the pace for market growth, fuelled by the growing pool of patients with heart diseases, such as ACS and unmet medical needs, which in turn drives the need for in-vitro diagnostic testing.

Major players in the market include Abbott Diagnostics, Alere Inc., Beckman Coulter Inc., BG Medicine, bioMérieux SA, Boditech Med Inc., Labsystems Diagnostics OY, LifeSign LLC, LSI Medience Corp., Ortho-Clinical Diagnostics Inc., Randox Laboratories, Response Biomedical Corp., Roche Diagnostics Corp., Siemens Healthcare Diagnostics Inc., Singulex Inc., and Trinity Biotech PLC, among others.

The research report titled “Cardiac Biomarkers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies.  The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, Rest of Europe), Asia-Pacific (China, India and Rest of Asia-Pacific), Latin America (Brazil, and Rest of Latin America) and Rest of World.

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