"Cardiac biomarker diagnostic kits market to exhibit dynamic growth during the forecast period"
The global cardiac biomarker diagnostic kits market is growing competently, expected to grow at a CAGR of 5.3%. Globally, the rising prevalence of chronic diseases, cardiac disorders along with numerous lifestyle diseases will drive the market growth globally. Major factors such as growing elderly population, increasing hospital admissions for cardiovascular diseases and enhanced product penetration in the developing nations are driving the global market. Present clinical trials for identification of innovative cardiac biomarkers, public and private funding for improved R&D is also increasing the market growth on a global scale. Globally, a gradual shift towards overall treatment along with diagnosis for various lifestyle and chronic diseases is one of the key factors driving the overall growth of the market.
"Troponin test kits expected to register higher growth by the end of 2030"
The troponin diagnostic test kits estimated to grow significantly during the forecast period, generated maximum revenue in 2021, and estimated to dominate by 2030. Top manufacturers are receiving the U.S. FDA clearance. Product penetration of this segment can be accredited to an increase in the demand for high sensitive troponin assay applications. For e.g. Alere recently launched next generation products such as Troponin I, Cardio2 and Cardio3. Prevalence of acute myocardial infarction (AMI) will boost the need for advanced diagnostic kits on a global scale. Additionally, huge number of pipeline products along with advancement in point-of-care (POC) cardiac testing will increasing the market share of diagnostic kits during the forecast period.
"Angina Pectoris segment to witness a significant CAGR"
Increasing prevalence of cardiovascular diseases, and growing number of adult population with increased incidence rate of stroke, diseases in the arteries, and other lifestyle diseases will upsurge the market demand for diagnostic kits. As per the statistics by American Heart Association, cardiovascular disease is the leading global cause of death, accounting for more than 17 Mn deaths per year globally, expected to grow to more than 23 million by 2030 worldwide. Additionally, more than 9 million people in the U.S are projected to experience angina pectoris every year, with more than 500,000 new cases of angina pectoris occurring annually. Increasing prevalence of these diseases along with new launch of products for various disease indications globally will further revenue growth during the forecast period. In 2014-2015, stroke and CVD accounted for around 14% of total health expenditures, more than any major diagnostic segment globally. The total direct and indirect costs were more than US$ 350 Bn.
"Increased research and development with strong product pipelines in the developed regions"
Major manufacturers such as Abbott, Roche, Danaher and others are developing novel products with enhanced applications in the point of care and laboratory testing segment. Increasing demand for laboratory investigation for the identification and diagnostic testing of various cardiac diseases is driving the market growth. Novel diagnostic kit launch with higher compatibility, strategic collaborations, and innovative technology assessment in the emerging countries and improved clinical outcomes in the field of overall cardiac testing globally will further spur revenue growth on a global scale. For e.g. In March 2017, Fujirebio Europe (leader in IVD testing) launched Lumipulse G Myoglobin immunoassays and Lumipulse® G hs Troponin I for both LUMIPULSE G600II and G1200 platforms.
Key Industry Developments:
Top Companies
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cardiac Biomarker Diagnostic Kits market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
|---|---|
| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
| Segmentation | |
Product Type
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Disease Indication
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Testing Segment
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
