Cardiac Marker Testing Market by Product (Reagent, Instrument), Component (Troponin I & T, CK-MB, Myoglobin, BNP, hs-CRP), Disease (Myocardial Infarction, Congestive Heart Failure, Atheresclerosis), Enduser (Lab, PoC, Academia) - Global Forecast to 2027
[210 Pages Report] The global cardiac marker testing market is projected to reach USD 7.7 billion by 2027 from USD 5.0 billion in 2022, at a CAGR of 8.7% during the forecast period.
The major factors such as rising geriatric population globally and the subsequent increase in chronic heart conditions; the rising prevalence of cardiovascular diseases worldwide; and increasing research & funding initiatives from public/private organizations to discover novel cardiac biomarkers are anticipated to drive the growth of the market.
However, technical challenges associated with sampling collection and storage, regulatory issues, and limited reimbursements are expected to restrain the market growth during the forecast period.
Attractive opportunities cardiac marker testing Market
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Cardiac marker testing Market Dynamics
Driver: Growing incidence of cardiovascular diseases
Cardiac biomarkers help in the early detection and diagnosis of various cardiovascular diseases, such as myocardial infarction, acute coronary syndrome, heart attack, and heart failure. According to the World Health Organization (WHO), approximately 32.4 million myocardial infarctions or strokes are reported globally annually. In addition, acute coronary syndrome (ACS), a common complication of coronary heart disease, is associated with more than 2.5 million hospitalizations worldwide. Thus, the rising incidence of cardiovascular diseases is anticipated to increase the demand for early diagnosis, further accelerating the adoption of cardiac biomarker tests.
Restraint: Technical problems related to sample collection and storage
Cardiac biomarkers are used in epidemiology study to carry out investigation of different stages of diseases in humans. This process demand a careful handling and storage of precious biological samples to obtain a large amount of information from a limited samples.
A stringent quality control is needed for these samples to provide right condition of storage to avoid the loss of data. Cardiac biomarker studies using archived specimens is dependent on the integrity of specimens and way in which they are collected, processed, and stored. The technical issues in both sample collection and storage are likely to hamper the growth of the overall cardiac biomarkers market, especially the laboratory-based testing segment.
Opportunity: Emerging markets offer high-growth opportunities
Emerging markets such as India and China offer significant growth opportunities for cardiac diagnostics due to the growing patient population due to the increasing burden of cardiovascular diseases in these countries. According to the Indian Heart Association (IHA) 2019, India accounted for 60% of the global heart disease burden, and around 50% of all heart attacks in Indian men occur under the age of 50 years. Similarly, the burden of cardiovascular disease (CVD) has rapidly increased in China owing to the increased risk d cardiovascular disease factors such as high blood cholesterol, obesity, and diabetes mellitus. The increasing burden of cardiovascular diseases in emerging countries will drive the demand for early disease diagnostic, accelerating the adoption of cardiac marker testing products.
By product, the reagents and kits segment is expected to grow at the highest CAGR during the forecast period
The growth of the cardiac marker testing reagents & kits market is attributed to the increasing number of cardiac biomarker tests performed owing to the high burden of cardiovascular diseases (CVD) and rising geriatric patient population worldwide. This has accelerated the demand for rapid diagnosis of CVD, resulting in the adoption of cardiac biomarker rapid test kits. Moreover, the introduction of new cardiac biomarker test kit by players is anticipated to support the growth of the segment.
Troponin I and T is the largest biomarker type segment of the cardiac marker testing market
Cardiac troponin are preferred biomarker for the diagnosis of acute myocardial infarction ( AMI) owing to its higher sensitivity and specificity. Several high-sensitivity troponin assays have been launched in the market in recent times. These high-sensitivity troponin assays can detect the protein quickly and at much lower levels than standard troponin tests. Troponin biomarker are also useful in detecting the risk of future heart events, such as heart attacks, in people with no symptoms. All these factors are anticipated to fuel the growth of the segment in coming years.
The Asia Pacific market is expected to grow at the highest CAGR during the forecast period.
The cardiac marker testing market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. In 2021, North America commanded the largest share of the global diagnostic imaging service market. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period primarily due by the increasing incidence of cardiovascular disease (CVD), increasing testing procedures, improving healthcare infrastructure and rising adoption fo of advanced immunoassay technology among clinical laboratories. Moreover, growing number of local manufacturers offering cardiac marker testing and increasing number of diagnostic laboratories in the region are expected to provide boost the growth of the market in the region
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Key Market Players
F. Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), PerkinElmer, Inc. (US), bioMérieux SA (France), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), DiaSorin (Italy), and Tosoh Corporation (Japan), LSI Medience Corporation (Japan), Quidel Corporation (US), Randox Laboratories (UK), Guangzhou Wondfo Biotech Co., Ltd. (China), Boditech Med Inc. (South Korea), Tulip Diagnostics (P) Ltd (India), BTNX Inc. (Canada), Response Biomedical (Canada), Alfa Scientific Designs, Inc. (US), CTK Biotech, Inc. (US), Creative Diagnostics (US), LifeSign LLC. (US), CardioGenics Holdings Inc (Canada), and Atlas Medical GmbH (Germany).
F. Hoffmann-La Roche: F. Hoffmann-La Roche is one of the key players in the global cardiac marker testing market. The company is a well-established player in the diagnostics segment, and it has a large customer base in diagnostic products, including cardiac marker testing kits. The company focuses on inorganic growth strategies such as agreements and acquisitions to remain competitive in the market. These strategies enable it to expand its point-of-care testing portfolio. Roche Diagnostics strongly invests in R&D activities to improve its existing product portfolio, as it has a strong pipeline of products for the growing market.
Siemens Healthineers AG Due to its robust product portfolio in diagnostic segment, Siemens Healthineers AG is among the leading players in the cardiac marker testing market. The company has a broad range of testing systems for various segments, including hematology, molecular, urinalysis, cardiac, and blood gas testing. The company is engaged in developing and manufacturing new products in the cardiac marker testing market. The company commercializes its products to healthcare providers in more than 180 countries. The distribution of its R&D workforce across international sites has enabled the firm to strengthen its foothold in the market.
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|
Report Metric |
Details |
|
Market Size Available for Years |
2020–2027 |
|
Base Year Considered |
2021 |
|
Forecast Period |
2022–2027 |
|
Forecast Units |
Value (USD) |
|
Segments Covered |
Product, Biomarker Type, Disease, End User, and Region |
|
Geographies Covered |
North America (US & Canada), Europe (Germany, UK, France, Italy, Spain, and RoE), APAC (Japan, China, India, Australia, South Korea, and the RoAPAC), LATAM (Brazil, Mexico, and RoLATAM), and MEA |
|
Companies Covered |
F. Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), PerkinElmer, Inc. (US), bioMérieux SA (France), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), DiaSorin (Italy), and Tosoh Corporation (Japan), LSI Medience Corporation (Japan), Quidel Corporation (US), Randox Laboratories (UK), Guangzhou Wondfo Biotech Co., among others |
This research report categorizes the cardiac marker testing market based on product, biomarker type, disease, end user, and region
By Product
- Reagents and Kits
-
Instruments
- Chemiluminescence
- Immunofluorescence
- ELISA
- Immunochromatography
By Biomarker Type
- Troponin I and T
- Creatine kinase-MB(CK-MB)
- Natriuretic peptide (Bnp Or Nt-Probnp)
- Myoglobin
- High-sensitivity C-reactive protein(hs-CRP)
- Other Cardiac Biomarkers
By Disease
- Myocardial Infarction
- Congestive Heart Failure
- Acute Coronary Syndrome
- Atherosclerosis
- Ischemia
By End User
-
Laboratory Testing Facilities
- Hospital Labs
- Reference Labs
- Contract Testing Labs
- Point-Of-Care Testing Facilities
- Academic Institutions
By Region
-
North America
- US
- Canada
-
Europe
- Germany
- UK
- France
- Italy
- Spain
- RoE
-
Asia Pacific
- Japan
- China
- India
- South Korea
- Australia
- RoAPAC
-
Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
Recent Developments
- In 2022, Tosoh Corporation announced the launch of the ST AIA-PACK BNP cardiac biomarker for the early diagnosis of heart failure.
- In 2021, Siemens Healthineers AG entered a strategic partnership with Biognosys AG to accelerate diagnostic protein biomarkers discovery and assay development.
- In 2019, Abbott Laboratories received FDA approval for the ARCHITECT STAT High Sensitivity Troponin-I blood test used in the diagnosis of myocardial infarction
Frequently Asked Questions (FAQ):
What are the drivers for the cardiac marker testing market?
The growth in the cardiac marker testing market is driven majorly growing incidence of cardiovascular diseases, rapidly increasing geriatric population, growing funding from public and private organizations for research on cardiac biomarkers, and ongoing clinical trials for the identification of novel cardiac biomarkers.
Which segment provides the most opportunity for growth?
Among products, reagents and kits in product segment is expected to show the most opportunity for growth.
Which segment among the diagnostic imaging services market is expected to grow at a significant rate?
Among end users, point-of-care testing facilities segment is expected to grow at a significant rate.
Who are the leading vendors operating in this market?
F. Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), Siemens Healthineers AG (Germany), Danaher Corporation (US), bioMérieux SA (France), LSI Medience Corporation (Japan), Randox laboratories Ltd. (UK), Guangzhou Wondfo Biotech Co., Ltd (China), DiaSorin S.p.A. (Italy), Becton, Dickinson and Company (US), Bio-Rad Laboratories, Inc. (US), PerkinElmer Inc. (US), Thermo Fisher Scientific Inc. (US), and Tosoh Corporation (Japan)
Which region is expected to witness significant demand for cardiac marker testing in the coming years?
The Asia Pacific is the fastest-growing geographic segment in the cardiac marker testing market, with a CAGR of 12.2% during the forecast period. This is attributed to the improved healthcare infrastructure, increased healthcare spending, growing penetration of cutting-edge clinical laboratory technologies, rising number of diagnostic laboratories, and increasing prevalence of cardiovascular diseases in Asia Pacific countries. .
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TABLE OF CONTENTS
1 INTRODUCTION (Page No. - 28)
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 MARKETS COVERED
1.3.2 GEOGRAPHIC SCOPE
1.3.3 INCLUSIONS & EXCLUSIONS
1.3.4 YEARS CONSIDERED
1.4 CURRENCY CONSIDERED
1.5 LIMITATIONS
1.6 MARKET STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY (Page No. - 32)
2.1 RESEARCH DATA
FIGURE 1 RESEARCH DESIGN
2.1.1 SECONDARY RESEARCH
2.1.2 PRIMARY RESEARCH
2.1.2.1 Key data from primary sources
FIGURE 2 BREAKDOWN OF PRIMARY INTERVIEWS:
FIGURE 3 CARDIAC MARKER TESTING MARKET: BREAKDOWN OF PRIMARIES
2.2 MARKET SIZE ESTIMATION
FIGURE 4 RESEARCH METHODOLOGY: HYPOTHESIS BUILDING
2.2.1 REVENUE MAPPING-BASED MARKET ESTIMATION
2.2.2 MARKET ESTIMATION BASED ON END USERS
FIGURE 5 CARDIAC MARKER TESTING MARKET: MARKET SIZE ESTIMATION
2.2.3 PRIMARY RESEARCH VALIDATION
2.3 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION METHODOLOGY
2.4 RESEARCH ASSUMPTIONS AND LIMITATIONS
2.4.1 RESEARCH ASSUMPTIONS
2.4.2 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY (Page No. - 40)
FIGURE 7 CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE, 2022 VS. 2027 (USD MILLION)
FIGURE 8 CARDIAC MARKER TESTING MARKET, BY END USER, 2022 VS. 2027 (USD MILLION)
FIGURE 9 GEOGRAPHICAL SNAPSHOT OF CARDIAC MARKER TESTING MARKET
4 PREMIUM INSIGHTS (Page No. - 43)
4.1 CARDIAC MARKER TESTING MARKET OVERVIEW
FIGURE 10 RISING INCIDENCE OF CARDIOVASCULAR DISEASES AND ONGOING CLINICAL TRIALS FOR NOVEL BIOMARKERS TO DRIVE MARKET
4.2 CARDIAC MARKER TESTING MARKET SHARE, BY PRODUCT, 2022 VS. 2027
FIGURE 11 REAGENTS & KITS TO CONTINUE TO DOMINATE MARKET DURING FORECAST PERIOD
4.3 EUROPE: CARDIAC MARKER TESTING MARKET, BY END USER AND REGION
FIGURE 12 LABORATORY TESTING FACILITIES SEGMENT ACCOUNTED FOR LARGEST SHARE IN 2021
4.4 CARDIAC MARKER TESTING MARKET: GEOGRAPHICAL SNAPSHOT
FIGURE 13 CHINA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD
5 MARKET OVERVIEW (Page No. - 45)
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 14 CARDIAC MARKER TESTING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
5.2.1 DRIVERS
5.2.1.1 Rising incidence of cardiovascular diseases
5.2.1.2 Increasing geriatric population and subsequent rise in heart conditions worldwide
5.2.1.3 Growing research & funding initiatives from public & private organizations
5.2.1.4 Rising clinical studies for identification of novel cardiac biomarkers
5.2.2 RESTRAINTS
5.2.2.1 Technical issues related to sample collection & storage
5.2.2.2 Unfavorable regulatory processes and limited reimbursement structure
5.2.3 OPPORTUNITIES
5.2.3.1 Point-of-care testing with cardiac biomarkers
5.2.3.2 Ongoing research on novel cardiac biomarkers for cardiovascular diseases
5.2.3.3 Emerging markets offer high-growth opportunities
5.2.4 CHALLENGES
5.2.4.1 Challenges associated with biomarker assay validation
5.3 REGULATORY SCENARIO
TABLE 1 KEY REGULATORY BODIES & GOVERNMENT AGENCIES
5.3.1 KEY REGULATORY GUIDELINES
5.3.1.1 US
TABLE 2 US: CLASSIFICATION OF IN VITRO DIAGNOSTIC DEVICES
FIGURE 15 US: REGULATORY PROCESS FOR IVD DEVICES
5.3.1.2 Canada
FIGURE 16 CANADA: REGULATORY PROCESS FOR IVD DEVICES IN CANADA
5.3.1.3 Europe
TABLE 3 EUROPE: CLASSIFICATION OF IVD DEVICES
FIGURE 17 EUROPE: REGULATORY PROCESS FOR IVD DEVICES
5.3.1.4 Japan
FIGURE 18 REGULATORY PROCESS FOR IVD DEVICES IN JAPAN
TABLE 4 JAPAN: CLASSIFICATION OF IVD REAGENTS CLASSIFICATION OF IVD REAGENTS IN JAPAN
TABLE 5 JAPAN: TIME, COST, AND COMPLEXITY OF REGISTRATION PROCESS
5.3.1.5 China
TABLE 6 CHINA: TIME, COST, AND COMPLEXITY OF REGISTRATION PROCESS
5.3.1.6 India
FIGURE 19 INDIA: REGULATORY PROCESS FOR IVD DEVICES
5.3.1.7 Russia
TABLE 7 RUSSIA: CLASSIFICATION OF IVD DEVICES
5.3.1.8 Mexico
FIGURE 20 MEXICO: REGULATORY PROCESS FOR IVD DEVICES
TABLE 8 MEXICO: TIME, COST, AND COMPLEXITY OF REGISTRATION PROCESS
5.3.1.9 Brazil
FIGURE 21 BRAZIL: REGULATORY PROCESS FOR IVD DEVICES
5.3.1.10 South Korea
TABLE 9 SOUTH KOREA: TIME, COST, AND COMPLEXITY OF REGISTRATION PROCESS
5.4 REIMBURSEMENT SCENARIO
TABLE 10 REIMBURSEMENT CODES FOR VARIOUS BIOMARKERS
5.5 VALUE CHAIN ANALYSIS
FIGURE 22 CARDIAC MARKER TESTING MARKET: VALUE CHAIN ANALYSIS
5.6 SUPPLY CHAIN ANALYSIS
FIGURE 23 DIRECT DISTRIBUTION—PREFERRED STRATEGY FOR PROMINENT COMPANIES
5.7 ECOSYSTEM ANALYSIS: PARENT MARKET (IN VITRO DIAGNOSTICS)
5.8 PRICING ANALYSIS
5.8.1 AVERAGE SELLING PRICE OF CARDIAC MARKET TEST KITS BY KEY PLAYERS
TABLE 11 CARDIAC BIOMARKER TROPONIN I AND T TEST KITS
TABLE 12 CARDIAC BIOMARKER CK-MB TEST KITS
TABLE 13 CARDIAC BIOMARKER BPN OR NT-PROBNP TEST KITS
TABLE 14 CARDIAC BIOMARKER MYOGLOBIN TEST KITS
TABLE 15 CARDIAC BIOMARKER C-REACTIVE PROTEIN (HS-CRP) TEST KITS
TABLE 16 AVERAGE SELLING PRICE OF CARDIAC MARKET TEST KITS TREND, BY COUNTRY (USD)
5.9 PORTER’S FIVE FORCES ANALYSIS
TABLE 17 CARDIAC MARKER TESTING MARKET: PORTER’S FIVE FORCES ANALYSIS
5.9.1 BARGAINING POWER OF BUYERS
5.9.2 BARGAINING POWER OF SUPPLIERS
5.9.3 THREAT OF NEW ENTRANTS
5.9.4 THREAT OF SUBSTITUTES
5.9.5 INTENSITY OF COMPETITIVE RIVALRY
5.10 PATENT ANALYSIS
FIGURE 24 TOP 10 PATENT APPLICANTS FOR CARDIAC MARKER TESTING (JANUARY 2012–SEPTEMBER 2022)
FIGURE 25 TOP 10 PATENT OWNERS FOR CARDIAC MARKER TESTING (JANUARY 2012–SEPTEMBER 2022)
5.11 KEY CONFERENCES & EVENTS (2022–2024)
TABLE 18 CARDIAC MARKER TESTING MARKET: DETAILED LIST OF MAJOR CONFERENCES & EVENTS
5.12 CASE STUDY
5.12.1 DEVELOPMENT OF HIGH-SENSITIVITY TROPONIN I
TABLE 19 CASE 1: DIAGNOSING LOWER LEVEL OF TROPONIN IN CARDIAC PATIENTS
5.13 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES
5.14 KEY STAKEHOLDERS & BUYING CRITERIA
5.14.1 KEY STAKEHOLDERS
FIGURE 26 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR CARDIAC MARKER TESTING KITS AND INSTRUMENTS
TABLE 20 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR PRODUCT SEGMENTS (%)
5.15 KEY BUYING CRITERIA BY END USERS
TABLE 21 KEY BUYING CRITERIA FOR PRODUCTS
6 CARDIAC MARKER TESTING MARKET, BY PRODUCT (Page No. - 72)
6.1 INTRODUCTION
TABLE 22 CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
6.2 REAGENTS & KITS
6.2.1 RISING VOLUME OF DIAGNOSTIC TESTS TO DRIVE DEMAND
TABLE 23 CARDIAC MARKER TESTING MARKET FOR REAGENTS & KITS, BY REGION, 2020–2027 (USD MILLION)
TABLE 24 CARDIAC MARKER TESTING MARKET FOR REAGENTS & KITS, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
6.3 INSTRUMENTS
TABLE 25 CARDIAC MARKER TESTING MARKET FOR INSTRUMENTS, BY REGION, 2020–2027 (USD MILLION)
TABLE 26 CARDIAC MARKER TESTING MARKET FOR INSTRUMENTS, BY TECHNOLOGY, 2020–2027 (USD MILLION)
TABLE 27 CARDIAC MARKER TESTING MARKET FOR INSTRUMENTS, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
6.3.1 CHEMILUMINESCENCE
6.3.1.1 Most preferred method for quantification of cardiac biomarkers to drive segment growth
TABLE 28 CARDIAC MARKER TESTING MARKET FOR CHEMILUMINESCENCE, BY REGION, 2020–2027 (USD MILLION)
TABLE 29 CARDIAC MARKER TESTING MARKET FOR CHEMILUMINESCENCE, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
6.3.2 IMMUNOFLUORESCENCE
6.3.2.1 Demand for stable and safer reagents to support market growth
TABLE 30 CARDIAC MARKER TESTING MARKET FOR IMMUNOFLUORESCENCE, BY REGION, 2020–2027 (USD MILLION)
TABLE 31 CARDIAC MARKER TESTING MARKET FOR IMMUNOFLUORESCENCE, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
6.3.3 ELISA
6.3.3.1 Long shelf life and ease of use to propel segment growth
TABLE 32 CARDIAC MARKER TESTING MARKET FOR ELISA, BY REGION, 2020–2027 (USD MILLION)
TABLE 33 CARDIAC MARKER TESTING MARKET FOR ELISA, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
6.3.4 IMMUNOCHROMATOGRAPHY
6.3.4.1 Increasing use in point-of-care settings to drive adoption of this technique
TABLE 34 CARDIAC MARKER TESTING MARKET FOR IMMUNOCHROMATOGRAPHY, BY REGION, 2020–2027 (USD MILLION)
TABLE 35 CARDIAC MARKER TESTING MARKET FOR IMMUNOCHROMATOGRAPHY, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
7 CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE (Page No. - 82)
7.1 INTRODUCTION
TABLE 36 CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
7.2 TROPONIN I AND T
7.2.1 HIGH SENSITIVITY AND SPECIFICITY IN DETECTION OF CVD TO DRIVE MARKET
TABLE 37 CHARACTERISTICS OF TROPONIN CARDIAC MARKERS
TABLE 38 CARDIAC MARKER TESTING MARKET FOR TROPONIN I AND T, BY REGION, 2020–2027 (USD MILLION)
TABLE 39 CARDIAC MARKER TESTING MARKET FOR TROPONIN I AND T, BY DISEASE, 2020–2027 (USD MILLION)
TABLE 40 CARDIAC MARKER TESTING MARKET FOR TROPONIN I AND T, BY END USER, 2020–2027 (USD MILLION)
7.3 CREATINE KINASE-MB (CK-MB)
7.3.1 DIAGNOSIS OF ACUTE MYOCARDIAL INJURY USING CK-MB TO DRIVE MARKET
TABLE 41 CHARACTERISTICS OF CK-MB CARDIAC MARKER
TABLE 42 CARDIAC MARKER TESTING MARKET FOR CREATINE KINASE-MB (CK-MB), BY REGION, 2020–2027 (USD MILLION)
TABLE 43 CARDIAC MARKER TESTING MARKET FOR CREATINE KINASE-MB (CK-MB), BY DISEASE, 2020–2027 (USD MILLION)
TABLE 44 CARDIAC MARKER TESTING MARKET FOR CREATINE KINASE-MB (CK-MB), BY END USER, 2020–2027 (USD MILLION)
7.4 NATRIURETIC PEPTIDE (BNP AND NT-PROBNP)
7.4.1 USE OF BNP WITH OTHER CARDIAC MARKERS TO ENHANCE UTILIZATION
TABLE 45 CARDIAC MARKER TESTING MARKET FOR NATRIURETIC PEPTIDE (BNP AND NT-PROBNP), BY REGION, 2020–2027 (USD MILLION)
TABLE 46 CARDIAC MARKER TESTING MARKET FOR NATRIURETIC PEPTIDE (BNP AND NT-PROBNP), BY DISEASE, 2020–2027 (USD MILLION)
TABLE 47 CARDIAC MARKER TESTING MARKET FOR NATRIURETIC PEPTIDE (BNP AND NT-PROBNP), BY END USER, 2020–2027 (USD MILLION)
7.5 MYOGLOBIN
7.5.1 RAPID INCREASE AND NORMALIZATION ASSOCIATED WITH MYOGLOBIN TO DRIVE MARKET
TABLE 48 CHARACTERISTICS OF MYOGLOBIN CARDIAC MARKERS
TABLE 49 CARDIAC MARKER TESTING MARKET FOR MYOGLOBIN, BY REGION, 2020–2027 (USD MILLION)
TABLE 50 CARDIAC MARKER TESTING MARKET FOR MYOGLOBIN, BY DISEASE, 2020–2027 (USD MILLION)
TABLE 51 CARDIAC MARKER TESTING MARKET FOR MYOGLOBIN, BY END USER, 2020–2027 (USD MILLION)
7.6 HIGH-SENSITIVITY C-REACTIVE PROTEIN (HSCRP)
7.6.1 ABILITY OF HSCRP TESTS TO ACCURATELY MEASURE LOW LEVELS OF CRP TO SUPPORT MARKET GROWTH
TABLE 52 CUT-OFFS FOR CRP USING STANDARDIZED ASSAYS
TABLE 53 CARDIAC MARKER TESTING MARKET FOR HIGH-SENSITIVITY C-REACTIVE PROTEIN (HSCRP), BY REGION, 2020–2027 (USD MILLION)
TABLE 54 CARDIAC MARKER TESTING MARKET FOR HIGH-SENSITIVITY C-REACTIVE PROTEIN (HSCRP), BY DISEASE, 2020–2027 (USD MILLION)
TABLE 55 CARDIAC MARKER TESTING MARKET FOR HIGH-SENSITIVITY C-REACTIVE PROTEIN (HSCRP), BY END USER, 2020–2027 (USD MILLION)
7.7 OTHER CARDIAC BIOMARKERS
TABLE 56 CARDIAC MARKER TESTING MARKET FOR OTHER CARDIAC BIOMARKERS, BY REGION, 2020–2027 (USD MILLION)
TABLE 57 CARDIAC MARKER TESTING MARKET FOR OTHER CARDIAC BIOMARKERS, BY DISEASE, 2020–2027 (USD MILLION)
TABLE 58 CARDIAC MARKER TESTING MARKET FOR OTHER CARDIAC BIOMARKERS, BY END USER, 2020–2027 (USD MILLION)
8 CARDIAC MARKER TESTING MARKET, BY DISEASE (Page No. - 96)
8.1 INTRODUCTION
TABLE 59 CARDIAC MARKER TESTING MARKET, BY DISEASE, 2020–2027 (USD MILLION)
8.2 MYOCARDIAL INFARCTION
8.2.1 AVAILABILITY OF HIGH-SENSITIVITY BIOMARKERS FOR DETECTION OF MI TO DRIVE MARKET
TABLE 60 CARDIAC MARKER TESTING MARKET FOR MYOCARDIAL INFARCTION, BY REGION, 2020–2027 (USD MILLION)
8.3 CONGESTIVE HEART FAILURE
8.3.1 INCREASING USE OF MULTI-MARKER TESTING TO SUPPORT MARKET GROWTH
TABLE 61 CARDIAC MARKER TESTING MARKET FOR CONGESTIVE HEART FAILURE, BY REGION, 2020–2027 (USD MILLION)
8.4 ACUTE CORONARY SYNDROME
8.4.1 INCREASING INCIDENCE OF RISK FACTORS ASSOCIATED WITH ACS TO DRIVE ADOPTION OF CARDIAC MARKERS
TABLE 62 CARDIAC MARKER TESTING MARKET FOR ACUTE CORONARY SYNDROME, BY REGION, 2020–2027 (USD MILLION)
8.5 ATHEROSCLEROSIS
8.5.1 HIGH PREVALENCE OF ATHEROSCLEROSIS TO DRIVE UPTAKE OF CARDIAC MARKERS
TABLE 63 CARDIAC MARKER TESTING MARKET FOR ATHEROSCLEROSIS, BY REGION, 2020–2027 (USD MILLION)
8.6 ISCHEMIA
8.6.1 MULTIPLE COMPLICATIONS CAUSED BY ISCHEMIA TO DRIVE ADOPTION OF DIAGNOSTIC TESTS
TABLE 64 CARDIAC MARKER TESTING MARKET FOR ISCHEMIA, BY REGION, 2020–2027 (USD MILLION)
9 CARDIAC MARKER TESTING MARKET, BY END USER (Page No. - 102)
9.1 INTRODUCTION
TABLE 65 CARDIAC MARKER TESTING MARKET, BY END USER, 2020–2027 (USD MILLION)
9.2 LABORATORY TESTING FACILITIES
TABLE 66 CARDIAC MARKER TESTING MARKET FOR LABORATORY TESTING FACILITIES, BY TYPE, 2020–2027 (USD MILLION)
TABLE 67 CARDIAC MARKER TESTING MARKET FOR LABORATORY TESTING FACILITIES, BY REGION, 2020–2027 (USD MILLION)
9.2.1 HOSPITAL LABORATORIES
9.2.1.1 Emergency patient care and early diagnosis associated with in-house labs to drive market
TABLE 68 CARDIAC MARKER TESTING MARKET FOR HOSPITAL LABORATORIES, BY REGION, 2020–2027 (USD MILLION)
9.2.2 REFERENCE LABORATORIES
9.2.2.1 Affordable and time-efficient services associated with reference laboratories to support market growth
TABLE 69 CARDIAC MARKER TESTING MARKET FOR REFERENCE LABORATORIES, BY REGION, 2020–2027 (USD MILLION)
9.2.3 CONTRACT TESTING LABORATORIES
9.2.3.1 Ability to perform multiple tests and cover wider matrices to support market growth
TABLE 70 CARDIAC MARKER TESTING MARKET FOR CONTRACT TESTING LABORATORIES, BY REGION, 2020–2027 (USD MILLION)
9.3 ACADEMIC INSTITUTES
9.3.1 CONTINUOUS RESEARCH & DEVELOPMENT OF NOVEL BIOMARKERS TO DRIVE MARKET
TABLE 71 CARDIAC MARKER TESTING MARKET FOR ACADEMIC INSTITUTES, BY REGION, 2020–2027 (USD MILLION)
9.4 POINT-OF-CARE TESTING FACILITIES
9.4.1 EARLY DETECTION AND LOWER TURNAROUND TIME TO DRIVE MARKET
TABLE 72 CARDIAC MARKER TESTING MARKET FOR POINT-OF-CARE TESTING FACILITIES, BY REGION, 2020–2027 (USD MILLION)
10 CARDIAC MARKER TESTING MARKET, BY REGION (Page No. - 109)
10.1 INTRODUCTION
TABLE 73 CARDIAC MARKER TESTING MARKET, BY REGION, 2020–2027 (USD MILLION)
10.2 NORTH AMERICA
FIGURE 27 NORTH AMERICA: CARDIAC MARKER TESTING MARKET SNAPSHOT
TABLE 74 NORTH AMERICA: CARDIAC MARKER TESTING MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
TABLE 75 NORTH AMERICA: CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
TABLE 76 NORTH AMERICA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
TABLE 77 NORTH AMERICA: CARDIAC MARKER TESTING INSTRUMENTS, BY TECHNOLOGY, 2020–2027 (USD MILLION)
TABLE 78 NORTH AMERICA: CARDIAC MARKER TESTING MARKET, BY END USER, 2020–2027 (USD MILLION)
10.2.1 US
10.2.1.1 Growing support from NIH for development of novel cardiac biomarkers to drive market
TABLE 79 US: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.2.2 CANADA
10.2.2.1 Increasing government initiatives supporting cardiac marker testing to boost market growth
TABLE 80 CANADA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.3 EUROPE
TABLE 81 EUROPE: CARDIAC MARKER TESTING MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
TABLE 82 EUROPE CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
TABLE 83 EUROPE: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
TABLE 84 EUROPE: CARDIAC MARKER TESTING MARKET FOR INSTRUMENTS, BY TECHNOLOGY, 2020–2027 (USD MILLION)
TABLE 85 EUROPE: CARDIAC MARKER TESTING MARKET, BY END USER, 2020–2027 (USD MILLION)
10.3.1 GERMANY
10.3.1.1 Higher healthcare expenditure to drive demand for diagnostic tests
TABLE 86 GERMANY: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.3.2 UK
10.3.2.1 Government initiatives to expand diagnostic facilities to boost adoption of cardiac biomarkers
TABLE 87 UK: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.3.3 FRANCE
10.3.3.1 Rising demand for early CVD diagnosis to drive market
TABLE 88 FRANCE: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.3.4 ITALY
10.3.4.1 Adoption of advanced diagnostic technologies to drive market
TABLE 89 ITALY: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.3.5 SPAIN
10.3.5.1 Establishment of large and advanced laboratories to drive uptake of cardiac marker testing
TABLE 90 SPAIN: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.3.6 REST OF EUROPE (ROE)
TABLE 91 REST OF EUROPE: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.4 ASIA PACIFIC
FIGURE 28 ASIA PACIFIC: CARDIAC MARKER TESTING MARKET SNAPSHOT
TABLE 92 ASIA PACIFIC: CARDIAC MARKER TESTING MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
TABLE 93 ASIA PACIFIC: CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
TABLE 94 ASIA PACIFIC: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
TABLE 95 ASIA PACIFIC: CARDIAC MARKER TESTING MARKET FOR INSTRUMENTS, BY TECHNOLOGY, 2020–2027 (USD MILLION)
TABLE 96 ASIA PACIFIC: CARDIAC MARKER TESTING MARKET, BY END USER, 2020–2027 (USD MILLION)
10.4.1 JAPAN
10.4.1.1 Presence of established healthcare system with advanced laboratory facilities to drive market
TABLE 97 JAPAN: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.4.2 CHINA
10.4.2.1 Increasing number of independent clinical laboratories to drive demand for cardiac markers
TABLE 98 CHINA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.4.3 INDIA
10.4.3.1 Presence of large patient population to drive demand for cardiac marker testing
TABLE 99 INDIA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.4.4 SOUTH KOREA
10.4.4.1 Growing number of private hospitals to drive adoption of advanced testing services
TABLE 100 SOUTH KOREA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.4.5 AUSTRALIA
10.4.5.1 High healthcare expenditure to support market growth
TABLE 101 AUSTRALIA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.4.6 REST OF ASIA PACIFIC (ROAPAC)
TABLE 102 REST OF ASIA PACIFIC: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.5 LATIN AMERICA
TABLE 103 LATIN AMERICA: CARDIAC MARKER TESTING MARKET, BY COUNTRY, 2020–2027 (USD MILLION)
TABLE 104 LATIN AMERICA: CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
TABLE 105 LATIN AMERICA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
TABLE 106 LATIN AMERICA: CARDIAC MARKER TESTING MARKET FOR INSTRUMENTS, BY TECHNOLOGY, 2020–2027 (USD MILLION)
TABLE 107 LATIN AMERICA: CARDIAC MARKER TESTING MARKET, BY END USER, 2020–2027 (USD MILLION)
10.5.1 BRAZIL
10.5.1.1 Rising government support for advancements in healthcare to support market growth
TABLE 108 BRAZIL: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.5.2 MEXICO
10.5.2.1 Rising demand for technologically advanced products to drive uptake for cardiac markers
TABLE 109 MEXICO: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.5.3 REST OF LATIN AMERICA (ROLATAM)
TABLE 110 REST OF LATIN AMERICA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
10.6 MIDDLE EAST & AFRICA
10.6.1 RISING IMPROVEMENTS IN HEALTHCARE INFRASTRUCTURE TO DRIVE DEMAND FOR ADVANCED MARKERS
TABLE 111 MIDDLE EAST & AFRICA: CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE, 2020–2027 (USD MILLION)
TABLE 112 MIDDLE EAST & AFRICA: CARDIAC MARKER TESTING MARKET, BY PRODUCT, 2020–2027 (USD MILLION)
TABLE 113 MIDDLE EAST & AFRICA: CARDIAC MARKER TESTING MARKET FOR INSTRUMENTS, BY TECHNOLOGY, 2020–2027 (USD MILLION)
TABLE 114 MIDDLE EAST & AFRICA: CARDIAC MARKER TESTING MARKET, BY END USER, 2020–2027 (USD MILLION)
11 COMPETITIVE LANDSCAPE (Page No. - 135)
11.1 OVERVIEW
11.2 STRATEGIES ADOPTED BY KEY PLAYERS/RIGHT TO WIN
FIGURE 29 OVERVIEW OF STRATEGIES ADOPTED BY COMPANIES (2019−2022)
11.3 REVENUE ANALYSIS
FIGURE 30 REVENUE SHARE ANALYSIS OF TOP FIVE PLAYERS (2018−2021)
11.4 CARDIAC MARKER TESTING MARKET: MARKET SHARE ANALYSIS, BY KEY PLAYER (2021)
FIGURE 31 CARDIAC MARKER TESTING MARKET SHARE, BY KEY PLAYER (2021)
TABLE 115 CARDIAC MARKER TESTING MARKET: DEGREE OF COMPETITION
11.5 COMPANY EVALUATION QUADRANT FOR MAJOR PLAYERS (AS OF 2021)
11.5.1 STARS
11.5.2 EMERGING LEADERS
11.5.3 PERVASIVE PLAYERS
11.5.4 PARTICIPANTS
FIGURE 32 CARDIAC MARKER TESTING MARKET: COMPANY EVALUATION QUADRANT (2021)
11.6 COMPANY EVALUATION QUADRANT (SMES/STARTUPS)
11.6.1 PROGRESSIVE COMPANIES
11.6.2 RESPONSIVE COMPANIES
11.6.3 DYNAMIC COMPANIES
11.6.4 STARTING BLOCKS
FIGURE 33 CARDIAC MARKER TESTING MARKET:COMPETITIVE LEADERSHIP MAPPING (SMES/STARTUPS)
11.7 COMPETITIVE BENCHMARKING
TABLE 116 OVERALL FOOTPRINT ANALYSIS
TABLE 117 PRODUCT FOOTPRINT ANALYSIS
TABLE 118 REGIONAL FOOTPRINT ANALYSIS
11.8 COMPETITIVE SCENARIO (2019–2022)
11.8.1 PRODUCT LAUNCHES & APPROVALS
11.8.2 DEALS
11.8.3 OTHER DEVELOPMENTS
12 COMPANY PROFILES (Page No. - 148)
(Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
12.1 KEY PLAYERS
12.1.1 F. HOFFMANN-LA ROCHE AG
TABLE 119 F. HOFFMANN-LA ROCHE AG: BUSINESS OVERVIEW
FIGURE 34 F. HOFFMANN-LA ROCHE AG: COMPANY SNAPSHOT (2021)
12.1.2 ABBOTT LABORATORIES
TABLE 120 ABBOTT LABORATORIES: BUSINESS OVERVIEW
FIGURE 35 ABBOTT LABORATORIES: COMPANY SNAPSHOT (2021)
12.1.3 SIEMENS HEALTHINEERS AG
TABLE 121 SIEMENS HEALTHINEERS AG: BUSINESS OVERVIEW
FIGURE 36 SIEMENS HEALTHINEERS AG: COMPANY SNAPSHOT (2021)
12.1.4 DANAHER CORPORATION
TABLE 122 DANAHER CORPORATION: BUSINESS OVERVIEW
FIGURE 37 DANAHER CORPORATION: COMPANY SNAPSHOT (2021)
12.1.5 BIOMÉRIEUX SA
TABLE 123 BIOMÉRIEUX SA: BUSINESS OVERVIEW
FIGURE 38 BIOMÉRIEUX SA: COMPANY SNAPSHOT (2021)
12.1.6 BECTON, DICKINSON AND COMPANY (BD)
TABLE 124 BECTON, DICKINSON AND COMPANY: BUSINESS OVERVIEW
FIGURE 39 BECTON, DICKINSON AND COMPANY: COMPANY SNAPSHOT (2021)
12.1.7 BIO-RAD LABORATORIES, INC.
TABLE 125 BIO-RAD LABORATORIES, INC: BUSINESS OVERVIEW
FIGURE 40 BIO-RAD LABORATORIES, INC.: COMPANY SNAPSHOT (2021)
12.1.8 THERMO FISHER SCIENTIFIC INC.
TABLE 126 THERMO FISHER SCIENTIFIC INC.: BUSINESS OVERVIEW
FIGURE 41 THERMO FISHER SCIENTIFIC INC.: COMPANY SNAPSHOT (2021)
12.1.9 DIASORIN
TABLE 127 DIASORIN: BUSINESS OVERVIEW
FIGURE 42 DIASORIN: COMPANY SNAPSHOT (2021)
12.1.10 PERKINELMER, INC.
TABLE 128 PERKINELMER INC: BUSINESS OVERVIEW
FIGURE 43 PERKINELMER INC: COMPANY SNAPSHOT (2021)
12.1.11 TOSOH CORPORATION
TABLE 129 TOSOH CORPORATION: BUSINESS OVERVIEW
FIGURE 44 TOSOH CORPORATION: COMPANY SNAPSHOT (2022)
12.1.12 LSI MEDIENCE CORPORATION (PHC HOLDINGS CORPORATION)
TABLE 130 LSI MEDIENCE CORPORATION: BUSINESS OVERVIEW
FIGURE 45 PHC HOLDINGS CORPORATION: COMPANY SNAPSHOT (2021)
12.1.13 QUIDEL CORPORATION
TABLE 131 QUIDEL CORPORATION: BUSINESS OVERVIEW
FIGURE 46 QUIDEL CORPORATION: COMPANY SNAPSHOT (2021)
12.1.14 RANDOX LABORATORIES
TABLE 132 RANDOX LABORATORIES: BUSINESS OVERVIEW
12.1.15 GUANGZHOU WONDFO BIOTECH CO., LTD.
TABLE 133 GUANGZHOU WONDFO BIOTECH CO., LTD.: BUSINESS OVERVIEW
12.1.16 BODITECH MED INC.
TABLE 134 BODITECH MED INC: BUSINESS OVERVIEW
12.1.17 TULIP (P) DIAGNOSTICS LTD
TABLE 135 TULIP (P) DIAGNOSTICS LTD: BUSINESS OVERVIEW
12.1.18 BTNX INC.
TABLE 136 BTNX INC.: BUSINESS OVERVIEW
12.1.19 RESPONSE BIOMEDICAL
TABLE 137 RESPONSE BIOMEDICAL: BUSINESS OVERVIEW
12.1.20 ALFA SCIENTIFIC DESIGNS, INC.
TABLE 138 ALFA SCIENTIFIC DESIGNS, INC: BUSINESS OVERVIEW
12.2 OTHER PLAYERS
12.2.1 CTK BIOTECH, INC.
12.2.2 CREATIVE DIAGNOSTICS
12.2.3 LIFESIGN LLC.
12.2.4 CARDIOGENICS HOLDINGS INC
12.2.5 ATLAS MEDICAL GMBH
*Details on Business Overview, Products Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
13 APPENDIX (Page No. - 202)
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.3 CUSTOMIZATION OPTIONS
13.4 RELATED REPORTS
13.5 AUTHOR DETAILS
The study involved four major activities to estimate the current size of the cardiac marker testing market. Exhaustive secondary research was carried out to collect information on the market and its different subsegments. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation procedures were used to estimate the size of segments and subsegments.
Secondary Research
The secondary sources referred to in this research study include corporate filings (such as annual reports, SEC filings, investor presentations, and financial statements); research journals; and press releases; trade, business, and professional associations. Secondary sources were used to identify and collect useful information for this extensive and commercial study of the cardiac marker testing market. Secondary research was mainly used to obtain key information about the industry’s total pool of key players, market classification and segmentation according to industry trends to the bottom-most level, market trends, and critical developments by both the public and private organizations in the cardiac marker testing market.
The secondary sources referred to for this research study include government sources, independent or public sources, paid/private databases, and research databases, among others. Secondary data was collected and analyzed to arrive at the overall market size of the cardiac marker testing market, which was further validated by primary research. Some of the key secondary sources referred to during the preparation of this report are listed below-
- Governmental and inter-governmental sources & databases such as World Health Organization (WHO), World Bank, Organisation for Economic Co-operation and Development (OECD), and Centers for Disease Control and Prevention (CDC), among others.
- Business and research articles such as Springer Nature, The Lancet, PubMed, and US National Library of Medicine, among others.
- Company sources involving annual reports, SEC filings, regulatory filings, investor presentations, press releases, and financial statements, among others.
Primary Research
Extensive primary research was conducted after acquiring knowledge about the cardiac marker testing market scenario through secondary research. A significant number of primary interviews were conducted from both the demand (healthcare providers, research and academic institutes, hospitals laboratories, point-of-care testing facilities) and supply sides (developers, manufacturers, and distributors of cardiac marker testing products). The primaries interviewed for this study include experts from the in vitro diagnostics (IVD) industry (such as CEOs, VPs, directors, sales heads, and marketing managers of tier 1, 2, and 3 companies engaged in offering cardiac biomarker test kits and instruments across the globe) and administrators & purchase managers of hospitals and diagnostic centers.
Around 65% and 35% of primary interviews were conducted from the supply and demand side, respectively. A robust primary research methodology has been adopted to validate the contents of the report and to fill gaps. Telephonic and e-mail communications were adopted to conduct interviews (questionnaires were designed and sent to primary participants as per their convenience).
Primary Research
The cardiac marker testing market comprises several stakeholders, such as diagnostic laboratories, clinical testing facilities, research laboratories and academic institutions, and point-of-care testing laboratories. The demand side of this market is characterized growing incidence of cardiovascular diseases, rapidly increasing geriatric population, growing funding from public and private organizations for research on cardiac biomarkers, and ongoing clinical trials for the identification of novel cardiac biomarkers. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information. The following is the breakdown of primary respondents:
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Market Size Estimation
Both top-down and bottom-up approaches were used to estimate and validate the total size of the cardiac marker testing market. These methods were also used extensively to estimate the size of various subsegments in the market. The research methodology used to estimate the market size includes the following:
- The key players in the industry and markets have been identified through extensive secondary research
- The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research
- All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources
To know about the assumptions considered for the study, Request for Free Sample Report
Data Triangulation
After arriving at the overall market size—using the market size estimation processes as explained above—the cardiac marker testing market was split into several segments and subsegments. In order to complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the cardiac marker testing industry.
Report Objectives
- To define, describe, and forecast the cardiac marker testing market by product, biomarker type, disease, end user, and region
- To provide detailed information about major factors influencing market growth (key drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contributions to the overall cardiac marker testing market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for key players
- To forecast the market value of various segments and sub-segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
- To profile the key players active in the cardiac marker testing market and comprehensively analyze their global revenue shares and core competencies2
- To track and analyze competitive market-specific developments such as product approvals & commercialization, agreements, partnerships, collaborations, acquisitions, and expansions in the cardiac marker testing market
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the cardiac marker testing market report:
Product Analysis
- Product Matrix, which gives a detailed comparison of the product portfolios of the top five global players
Product Analysis
- Further breakdown of the Rest of Europe cardiac marker testing market into Russia, Portugal, Belgium, Denmark, and Switzerland, and other European countries (aggregated)
Company Information
- Detailed analysis and profiling of additional market players (up to 5 OEMs)
Market outlook for top 10 players in cardiac biomarker market
Abbott Laboratories: Abbott Laboratories is one of the leading players in the global cardiac biomarker market. The company offers a wide range of products, including cardiac troponin tests, CK-MB tests, and BNP tests. Abbott Laboratories is expected to maintain its dominance in the market due to its strong portfolio of cardiac biomarker products and significant investments in research and development.
Roche Diagnostics: Roche Diagnostics is another major player in the global cardiac biomarker market. The company offers a range of cardiac biomarker tests, including Troponin T, NT-proBNP, and CK-MB. Roche Diagnostics is expected to remain a significant player in the market due to its strong presence in both developed and emerging markets and ongoing product innovation.
Siemens Healthcare: Siemens Healthcare is a global leader in the medical technology market, including the cardiac biomarker segment. The company offers a range of cardiac biomarker tests, including Troponin I, CK-MB, and myoglobin. Siemens Healthcare is expected to maintain its market position due to its strong brand recognition and extensive global reach.
Beckman Coulter: Beckman Coulter is a leading provider of cardiac biomarker tests, including Troponin I, BNP, and CK-MB. The company's focus on research and development and strategic partnerships with other companies in the industry are expected to help it maintain its market position.
bioMérieux: bioMérieux is a French biotechnology company that offers a range of cardiac biomarker tests, including Troponin I and NT-proBNP. The company's strong presence in the European market and ongoing efforts in product innovation are expected to drive its growth in the global cardiac biomarker market.
Thermo Fisher Scientific: Thermo Fisher Scientific is a leading provider of cardiac biomarker tests, including Troponin I, CK-MB, and myoglobin. The company's strong focus on research and development and strategic partnerships are expected to help it maintain its market position.
Danaher Corporation: Danaher Corporation is a global science and technology company that offers a range of cardiac biomarker tests, including Troponin I and BNP. The company's strong brand recognition and ongoing investments in research and development are expected to drive its growth in the global cardiac biomarker market.
F. Hoffmann-La Roche Ltd.: F. Hoffmann-La Roche Ltd. is a Swiss multinational healthcare company that offers a range of cardiac biomarker tests, including Troponin T and NT-proBNP. The company's strong focus on research and development and strategic partnerships are expected to help it maintain its market position.
bioMérieux SA: bioMérieux SA is a French biotechnology company that offers a range of cardiac biomarker tests, including Troponin I and NT-proBNP. The company's strong presence in the European market and ongoing efforts in product innovation are expected to drive its growth in the global cardiac biomarker market.
Ortho Clinical Diagnostics: Ortho Clinical Diagnostics is a global provider of in vitro diagnostics, including a range of cardiac biomarker tests. The company's focus on research and development and strategic partnerships are expected to help it maintain its market position.
Biggest markets in cardiac biomarker market
North America: North America is one of the largest markets for cardiac biomarkers due to the high prevalence of cardiovascular diseases, well-established healthcare infrastructure, and increasing adoption of point-of-care testing devices. The United States is the major contributor to the North American market.
Europe: Europe is another significant market for cardiac biomarkers due to the high incidence of cardiovascular diseases, growing elderly population, and increasing awareness about the benefits of early diagnosis of cardiovascular diseases. Countries such as Germany, France, and the UK are the major contributors to the European market.
Asia-Pacific: The Asia-Pacific region is expected to be the fastest-growing market for cardiac biomarkers due to the increasing prevalence of cardiovascular diseases, growing geriatric population, and rising healthcare expenditure. China and India are the major contributors to the Asia-Pacific market.
Latin America: Latin America is another significant market for cardiac biomarkers due to the high incidence of cardiovascular diseases, increasing awareness about the benefits of early diagnosis, and improving healthcare infrastructure. Brazil and Mexico are the major contributors to the Latin American market.
Middle East & Africa: The Middle East and Africa region is expected to have significant growth opportunities for cardiac biomarkers due to the increasing prevalence of cardiovascular diseases, growing elderly population, and improving healthcare infrastructure. Countries such as Saudi Arabia, UAE, and South Africa are the major contributors to the Middle East & Africa market.
Growth drivers for cardiac biomarker business from macro to micro
The cardiac biomarker business has several growth drivers, ranging from macroeconomic factors to micro-level factors. Here are some of the key growth drivers for the cardiac biomarker business
Increasing prevalence of cardiovascular diseases: The high and increasing prevalence of cardiovascular diseases globally is a major growth driver for the cardiac biomarker business. According to the World Health Organization (WHO), cardiovascular diseases are the leading cause of death worldwide, accounting for over 17 million deaths annually. The increasing burden of cardiovascular diseases is driving the demand for cardiac biomarkers for early diagnosis, monitoring, and management of these diseases.
Advancements in technology: Technological advancements in the development of cardiac biomarkers and diagnostic tools are also driving the growth of the cardiac biomarker business. The development of high-sensitivity assays and point-of-care testing devices has increased the accuracy and speed of cardiac biomarker testing, leading to improved patient outcomes.
Growing demand for personalized medicine: The increasing demand for personalized medicine is also driving the growth of the cardiac biomarker business. Cardiac biomarkers can help identify patients at high risk of cardiovascular diseases and enable personalized treatment and management strategies.
Increasing healthcare expenditure: The increasing healthcare expenditure in both developed and developing countries is also driving the growth of the cardiac biomarker business. As healthcare spending continues to rise, there is an increasing focus on the early detection and prevention of cardiovascular diseases, which is driving the demand for cardiac biomarkers.
Strategic partnerships and collaborations: Partnerships and collaborations between pharmaceutical companies, diagnostic companies, and academic institutions are also driving the growth of the cardiac biomarker business. These collaborations are leading to the development of novel cardiac biomarkers and diagnostic tools and the expansion of the market through increased access to healthcare services.
Regulatory approvals and guidelines: Regulatory approvals and guidelines for the use of cardiac biomarkers in the diagnosis, monitoring, and management of cardiovascular diseases are also driving the growth of the cardiac biomarker business. The approval of new cardiac biomarkers and the expansion of the indications for existing biomarkers can significantly increase the market potential for cardiac biomarkers.
Latest merger & acquisition in cardiac biomarker market
F. Hoffmann-La Roche acquired Takeda Pharmaceutical's diagnostic division: In 2020, F. Hoffmann-La Roche acquired Takeda Pharmaceutical's diagnostic division, which includes a portfolio of diagnostic products for the detection and management of cardiovascular diseases. The acquisition strengthened Roche's position in the cardiovascular diagnostics market.
Philips acquired BioTelemetry: In 2021, Philips completed its acquisition of BioTelemetry, a leading remote cardiac monitoring company. The acquisition enabled Philips to expand its offerings in the remote monitoring market for cardiac patients.
Abbott Laboratories acquired Walk Vascular: In 2021, Abbott Laboratories completed its acquisition of Walk Vascular, a medical device company that develops minimally invasive devices for the treatment of peripheral arterial disease. The acquisition strengthened Abbott's position in the peripheral vascular market, which is closely linked to the cardiac biomarker market.
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Growth opportunities and latent adjacency in Cardiac Marker Testing Market