Market Size of Cardiac Biomarkers Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR (2024 - 2029) | 8.50 % |
Fastest Growing Market | Asia-Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cardiac Biomarkers Market Analysis
The Cardiac Biomarkers Market is expected to register a CAGR of 8.5% during the forecast period.
The market was significantly impacted by the COVID-19 pandemic. According to an NCBI study published in Current Problems in Cardiology in October 2021, in the majority of the complex cases of COVID-19, cardiac injury biomarkers were elevated. This elevation is inversely correlated with the worst outcome. A more reliable tool for predicting case fatalities and outcomes is provided by the evaluation of cardiac biomarkers in combination with markers of other organ damage. Thus, the use of cardiac biomarkers enables the disease management of severely ill patients, thereby impacting the growth of the market during the pandemic period. Also, the demand for cardiac biomarkers is expected to remain intact due to the increasing focus on the diagnosis of cardiovascular diseases during the post-pandemic period, thereby contributing to the growth of the market over the forecast period.
The cardiac biomarker market is driven by the rising burden of cardiovascular diseases, technological advances in cardiac biomarkers, and growing research and development funding. For instance, the British Heart Foundation (BHF) data published in January 2022 reported that in 2021, the most common heart conditions affected globally were coronary (ischemic) heart disease (global prevalence estimated at 200 million), peripheral arterial (vascular) disease (110 million), stroke (100 million), and atrial fibrillation (60 million). The report also mentioned that the prevalence of heart and circulatory diseases in North America was 46 million, in Europe it was 99 million, in Africa it was 58 million, in South America it was 32 million, and in Asia and Australia it was 310 million. Thus, the high prevalence of cardiovascular diseases is expected to drive the demand for early diagnosis and treatment, which may expand the scope of the market studied over the forecast period.
Moreover, the launch of technologically advanced cardiac biomarkers by various market players is also anticipated to boost the market. For instance, in April 2021, Roche launched a series of five new intended uses for two key cardiac biomarkers using the Elecsys technology, i.e., high-sensitive cardiac troponin T (cTnT-hs) and N-terminal pro-brain natriuretic peptide test (NT-proBNP). These gold-standard biomarkers have proven to be successful in supporting cardiovascular disease management and can help clinicians diagnose heart attacks (cTnT-hs) and better manage heart failure (NT-proBNP).
Therefore, the rising incidence of cardiovascular diseases among the global population and increasing innovative product launches are expected to drive the growth of the market over the forecast period. However, the stringent regulatory framework is expected to impede the growth of the market over the forecast period.
Cardiac Biomarkers Industry Segmentation
As per the scope of the report, cardiac biomarkers are of great importance in the timely and accurate diagnosis and management of acute coronary syndrome, as well as the prognosis. The Cardiac Biomarkers Market is segmented by Type (Creatine Kinase, Troponins, Myoglobin, Ischemia Modified Albumin, and Other Types), Application (Congestive Heart Failure, Acute Coronary Syndrome, Myocardial Infarction, Atherosclerosis, and Other Applications), Location of Testing (Point-of-Care Testing and Laboratory Testing), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers market sizes and forecasts in terms of value (USD million) for all the above segments.
By Type | |
Creatine Kinase | |
Troponins | |
Myoglobin | |
Ischemia Modified Albumin | |
Other Types |
By Application | |
Congestive Heart Failure | |
Acute Coronary Syndrome | |
Myocardial Infarction | |
Atherosclerosis | |
Other Applications |
By Location of Testing | |
Point-of-care Testing | |
Laboratory Testing |
Geography | ||||||||
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Cardiac Biomarkers Market Size Summary
The cardiac biomarkers market is poised for significant growth, driven by the increasing prevalence of cardiovascular diseases and advancements in diagnostic technologies. The market experienced a notable impact during the COVID-19 pandemic, as cardiac biomarkers became crucial in managing severely ill patients by predicting outcomes and fatalities. This trend is expected to continue post-pandemic, with a sustained demand for these biomarkers due to the heightened focus on cardiovascular disease diagnosis. The market is further bolstered by substantial research and development investments and the introduction of innovative products by key players, such as Roche and Siemens Healthcare, which enhance the accuracy and efficiency of cardiovascular diagnostics.
North America is anticipated to maintain a substantial share of the cardiac biomarkers market, supported by the region's high burden of cardiovascular diseases and robust research funding. The presence of major market players in this region, coupled with their strategic initiatives to develop advanced diagnostic tests, is expected to drive market growth. The troponin biomarkers segment, in particular, is gaining traction due to its efficacy in detecting myocardial infarction and heart failure, offering timely and accurate diagnostics. Despite the competitive landscape, with key players like Abbott Laboratories and Thermo Fisher Scientific leading the charge, the market remains moderately fragmented, with ongoing efforts to enhance test specificity and develop new diagnostic solutions.
Cardiac Biomarkers Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Cardiovascular Diseases
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1.2.2 Technological Advancements in Cardiac Biomarkers
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1.2.3 Growing Funding from Public and Private Organizations for R&D
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Frameworks
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD Million)
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2.1 By Type
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2.1.1 Creatine Kinase
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2.1.2 Troponins
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2.1.3 Myoglobin
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2.1.4 Ischemia Modified Albumin
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2.1.5 Other Types
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2.2 By Application
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2.2.1 Congestive Heart Failure
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2.2.2 Acute Coronary Syndrome
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2.2.3 Myocardial Infarction
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2.2.4 Atherosclerosis
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2.2.5 Other Applications
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2.3 By Location of Testing
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2.3.1 Point-of-care Testing
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2.3.2 Laboratory Testing
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2.4 Geography
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Mexico
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2.4.2 Europe
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2.4.2.1 Germany
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2.4.2.2 United Kingdom
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2.4.2.3 France
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2.4.2.4 Italy
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2.4.2.5 Spain
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2.4.2.6 Rest of Europe
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2.4.3 Asia-Pacific
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2.4.3.1 China
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2.4.3.2 Japan
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2.4.3.3 India
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2.4.3.4 Australia
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2.4.3.5 South Korea
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2.4.3.6 Rest of Asia-Pacific
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2.4.4 Middle East and Africa
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2.4.4.1 GCC
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2.4.4.2 South Africa
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2.4.4.3 Rest of Middle East and Africa
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2.4.5 South America
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2.4.5.1 Brazil
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2.4.5.2 Argentina
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2.4.5.3 Rest of South America
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Cardiac Biomarkers Market Size FAQs
What is the current Cardiac Biomarkers Market size?
The Cardiac Biomarkers Market is projected to register a CAGR of 8.5% during the forecast period (2024-2029)
Who are the key players in Cardiac Biomarkers Market?
Abbott Laboratories, Becton, Dickinson and Company, BioMérieux, Bio-Rad Laboratories, Inc. and Danaher Corporation are the major companies operating in the Cardiac Biomarkers Market.