F.Hoffmann-La Roche AG (Switzerland) and Siemens Healthineers AG (Germany) are Leading Players in the Cardiac Marker Testing Market
The global cardiac marker testing market 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.
Growing incidence of cardiovascular diseases (CVD) and rising hospitalization rate has accelerated the demand for rapid diagnosis of CVD globally. With the growth in the aging population, the proportion of elderly individuals predisposed to developing CVD will continuously increase. Moreover, the growing initiatives by public and private organizations to boost the clinical trials for the identification of novel cardiac biomarkers are expected to fuel the growth of the market
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On the other hand, challenges related to the collection and storage and limited reimbursement structure and issues associated with regulations are expected to restrain market growth to a certain extent.
Some of the prominent players in the cardiac marker testing market include 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), among others.
An analysis of market developments between 2019 and 2022 revealed that several growth strategies such as partnerships & agreements, joint ventures, and strategic acquisitions were adopted by market players to strengthen their service portfolios and maintain a competitive position in the cardiac marker testing market
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 the 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.
Related Reports:
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
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