HOME › Research Insight › Product Launches and Showcase Were the Key Growth Strategies Adopted by Leading Market Players in the Global Cardiac Marker Testing Market
Product Launches and Showcase Were the Key Growth Strategies Adopted by Leading Market Players in the Global Cardiac Marker Testing Market
The global cardiac marker testing market is expected to grow at a CAGR of 8.8% between 2016 and 2021. The major players in the global cardiac marker testing market are Roche Diagnostics Ltd. (Switzerland), Abbott Laboratories (U.S.), Siemens AG (Germany), Danaher Corporation (U.S.) Alere, Inc. (U.S.), bioMérieux SA (France), LSI Medience Corporation (a subsidiary of Mitsubishi Chemical Holdings Corporation, Japan), Ortho Clinical Diagnostics (a subsidiary of The Carlyle Group, U.S.), Randox laboratories Ltd (U.K.), and Guangzhou Wondfo Biotech Co., Ltd (Wondfo) (China).
An analysis of the market developments between 2013 and 2016 reveals that product launches and showcase was the most widely adopted growth strategy by players in the global cardiac marker testing market. Players adopted this strategy to strengthen their product portfolios and maintain a competitive position in the market. Roche Diagnostics (Switzerland), Abbott Laboratories (U.S.), Siemens AG (Germany), Danaher Corporation (U.S.), and bioMérieux SA (France) are players that primarily adopted this strategy.
Roche Diagnostics held the leadership position in the global cardiac marker testing market in 2015. The company has been focusing on the development of new products and technologies in the field of diagnostics. Through this, it introduced innovative products in the market, which enabled it to garner a high market share. In June 2016, Roche launched its new high-volume testing immunoassay solution, namely, cobas E 801 and in June 2015, the company launched Troponin T test for its Cobas h 232 system. These launches helped the company strengthen its product portfolio and presence in the cardiac marker testing market. In addition, the company has a strong global presence, with manufacturing facilities in Europe and the U.S. and strong distribution channels to serve markets in Europe, the Middle East, Africa, Asia-Pacific, and Latin and North America.
Abbott Laboratories (U.S.) held the second position in the global cardiac marker testing market in 2015. The company has a diversified portfolio, which includes a wide range of diagnostic tests, immunoassays, integrated systems, antibodies, fluorescent in situ hybridization (FISH) kits, and antibodies. The company’s leadership in the market can be attributed to its strong distribution network across the globe, which enables it to serve customers in the Americas, Europe, Africa, the Middle East and Asia-Pacific. The company’s key strategy is to focus on partnerships and agreements to strengthen its portfolio and enhance its share in the global cardiac marker testing market. For instance, in June 2016, Ortho Clinical Diagnostics (Ortho) entered into a strategic partnership with Beckman Coulter, Inc., (U.S.), a global developer and manufacturer of clinical diagnostic products. Through this partnership, Beckman Coulter, Inc. will place Ortho’s VITROS 3600 System in labs that run Beckman’s Power Processor Sample Handling Systems.
Cardiac Marker Testing Market by Type (Troponin I & T, CK-MB, Myoglobin, BNP, hsCRP), Product (Reagent, Instrument), Method (Chemiluminescence, ELISA), Disease (Myocardial Infarction, Congestive Heart Failure), Testing (Lab, POC) - Global Forecast to 2021
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