Increasing Accuracy in Prediction & Diagnosis of Cardiovascular Diseases to Spur Growth of Cardiac Biomarkers

Increasing consumer awareness, coupled with commercialization of increasingly accurate cardiac biomarkers for diagnosis of various cardiovascular diseases (CVD), rising incidence of CVD itself, and robust demand for remote or point-of-care cardiac tests are poised to drive the global market for Cardiac Biomarkers to reach about US$10 billion by 2024.

Biomarkers emerged as an important diagnostic tool for cardiac diseases because of their precision in detection of CVD-associated risks. Cardiac biomarkers are typically released into the blood, following an adverse cardiac event, and their detection in blood helps to diagnose the corresponding CVD event. This early detection and diagnosis is extremely crucial for combating cardiovascular disease and brings down the associated costs for treatment. Because CVD is a major cause of mortality worldwide, biomarkers evolved as an invaluable tool for diagnosis and prognosis of myocardial infarction and cardiac failure, thereby driving growth of the cardiac biomarker market.  The most widely used cardiac biomarkers are creatine kinase-MB (CK-MB), troponin, and myoglobin for Myocardial Infarction (MI); and B-type Natriuretic Peptide (BNP) and NT-proBNP for suspected Congestive Heart Failure (CHF). Galectin-3 is also a rapidly growing cardiac biomarker segment.

Health institutes are recommending biomarker testing for low-risk cardiac patients as well, for better management of a potential infarction that can occur later in life. Moreover, single tests that can detect multiple biomarkers are being developed to test for multiple disorders via a single blood draw and thereby enhance patient comfort. The growing accuracy of biomarkers in the detection of cardiac abnormalities is a huge factor in their growing market demand. As a result, R&D in the area is also attracting significant public and private funding.

Laboratory Cardiac Testing remains the gold standard for cardiac biomarker assay testing, because most cardiac diagnostic tests continue to be done in laboratories. However, the Point-of-Care (POC) Cardiac Testing market is expanding rapidly owing to the availability of POC assay test kits that are cost-effective and deliver accurate results promptly. The increasing adoption of highly sensitive and premium-priced POC Troponin tests is contributing to the growth of the global cardiac POC tests market. Though not as accurate as lab tests, doctors across the world are increasingly using POC biomarker testing to expedite patient movement through the hospital, reduce hospitalization and avoid ER crowding. The move towards value-based and efficient healthcare service delivery against the backdrop of stringent budgets is boosting the prospects for POC Cardiac testing market. POC cardiac testing is especially relevant in remote areas of developing countries with a dearth of laboratory infrastructure. Factors challenging the cardiac biomarkers market include unfavorable reimbursement policies for these tests, the long and stringent regulatory procedures, high competition in terms of strategic product pricing, and a few clinical concerns and product-related issues with troponin-I and troponin-T testing.

As stated by the new market research report on Cardiac Biomarkers, the United States represents the largest market worldwide. Dominance of the US market may be attributed to high prevalence of CVD; vast usage of cardiac tests by healthcare institutions; high awareness of the same by physicians and general public; and favorable government policies and reimbursements for cardiac tests. Asia-Pacific ranks as the fastest growing market with a CAGR of 13.2% over the analysis period, supported by the growing population with high incidence of CVD, yet high unmet cardiac care needs, growing use of cardiac tests in healthcare institutions,  ambitious initiatives for modernizing healthcare infrastructure, and improved healthcare access and affordability of advanced cardiac therapies.

Major players in the market include Abbott Diagnostics, Quidel Corporation, 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 Healthineers, and Merck KGaA, 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. The report analyses the market based on two testing locations – Laboratory Testing and Point-of-Care (POC) Testing.

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