Cardiac Biomarkers Testing Market is expected to reach $28.1 billion by 2030-Allied Market Research

According to a new report published by Allied Market Research, titled, “Cardiac Biomarkers Testing Market by Biomarkers Type, Application, and Location of Testing: Opportunity Analysis and Industry Forecast, 2020-2030,” the global cardiac biomarkers testing market was valued at $9,766.93 million in 2020, and is projected to reach $28,098.07 million by 2030, registering a CAGR of 10.9% from 2021 to 2030.

Cardiac markers are biomarkers measured to evaluate heart function. They can be useful in the early prediction or diagnosis of disease. Measurements of these biomarkers are used to help diagnose acute coronary syndrome (ACS) and cardiac ischemia; conditions associated with insufficient blood flow to the heart. Increase in one or more cardiac biomarkers in the blood can identify people with ACS or cardiac ischemia, allowing rapid and accurate diagnosis and appropriate treatment of their condition.

The impact of COVID-19 pandemic is expected to remain positive for the cardiac biomarker testing market. Owing to increase in medical condition such as diabetes heart diseases among others which are more vulnerable to COVID-19. Also, patients with pre-existing heart disease are suffering from COVID-19 are more prone to heart attacks or develop congestive heart failure. According to the national health commission about 35% of the total patient diagnosed with COVID-19 are suffering from hypertension and 17% from heart disease.  Furthermore, it was estimated that Troponin levels were significantly higher in COVID-19 patients who died or were critically ill due to which cardiac injury biomarkers were elevated in most of the complicated cases of COVID-19. In addition, significant association of cardiac biomarkers in COVID-19 cases helps disease management and prognosis, especially in severely ill patients This has led to increase in the demand of cardiac biomarker testing for the patients suffering from COVID-19. Thus, considering all these factors, the global cardiac biomarkers testing market exhibits positive growth during this pandemic and is expected to gain traction in the upcoming years.

Rise due to high prevalence of cardiac diseases that widely remain undiagnosed. Large number of cardiac biomarkers in pipeline, augmented patient awareness toward the importance of early detection of cardiovascular diseases, and opportunities in untapped countries such as India, China, and other Asia-Pacific countries are the key factors that contribute toward the growth of the cardiac biomarkers testing market. In addition, introduction of novel cardiac biomarkers for point of care (POC) testing and facilitating quick results for chronic patients serve as opportunistic approaches to drive the market growth. However, premium pricing of approved and novel single used cardiac biomarkers and uncertain government regulation regarding the approval for biomarker tests and assays are expected to hinder the market growth during the analysis period.

By biomarkers type, the troponin segment held the largest share in 2020 and is anticipated to maintain its dominance during the forecast period, owing to increase in geriatric population with increase in cardiovascular cases including congestive heart failure, myocardial infarction and among others. Further, creatine kinase (CK-MB), segment is estimated the fastest growing segment at a CAGR of 13.0% and respectively during the forecast period.

North America accounted for the largest share in 2020, and is anticipated to maintain its dominance from 2020 to 2030, due to high expenditure on R&D, presence of major players & their product availability, and well-established healthcare infrastructure in the region. However, Asia-Pacific is expected to register the highest CAGR during the forecast period, as Governments of Asian countries are investing in the development of healthcare infrastructure

The cardiac biomarkers testing market is segmented on the basis of biomarker type, application, location of testing. Based on cardiac biomarker type, the market is segmented into creatine kinase (CK-MB), troponins, myoglobin, natriuretic peptides (BNP and NT-proBNP), ischemia modified albumins, and other biomarkers type. Based on the application, the market is segmented into myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and others. Based on location of testing, the market is segmented into point of care testing and laboratory testing. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report provides some of the key players operating in the cardiac biomarkers testing market include Abbott Laboratories, Becton, Dickinson and Company, bioMerieux, Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd., PerkinElmer Inc., Siemens AG, Thermo Fisher Scientific, Inc., and Tosoh Corporation.

Key Findings Of The Study

• North America occupied 37.0% share of the global cardiac biomarkers testing market in 2020
• Asia-Pacific is estimated to grow at the highest CAGR 12.5% during the forecast period
• By application, myocardial infarction segment was the highest contributor to the market in 2020
• By biomarkers type, troponins segment dominated the market in 2020
• By location of testing, the point-of-care testing segment is expected to register the fastest cardiac biomarkers testing market growth during the forecast period