Cardiovascular Diagnostic Testing Market Expected to Reach $15.4 Billion by 2030

Cardiovascular Diagnostic Testing Market Report, published by Allied Market Research, Predicted that the Cardiovascular diagnostic market was valued at $6,876.29 million in 2020, and is projected to reach $15,430.46 million by 2030, registering a CAGR of 8.3% from 2021 to 2030. 

Cardiovascular diseases are a leading cause of mortality in humans, and millions of individuals worldwide die from acute cardiovascular events every year. Several Laboratory developed tests as well as in-vitro diagnostic tests are used for diagnostic and prognostic purposes.  

The most important behavioral risk factors of stroke and heart disease are unhealthy diet, lack of physical activity, tobacco and alcohol consumption. The effects of behavioral risk factors may show up in individuals as raised blood pressure, raised glucose level, raised blood lipids, overweight and obesity.

Cardiovascular diagnostic testing can provide a wealth of information about the electrical activity of the heart, heartbeat rhythm, how well blood is pumping through the heart’s chamber and valves, how easily blood is flowing through the coronary arteries to the heart muscle, and whether there are tumors or abnormalities in the structure of the cardiovascular system. Laboratory tests are used to detect the risk factors for heart diseases. These include detection of the fats, cholesterol and lipid components of blood including LDL, HDL, triglycerides. Blood sugar and glycosylated hemoglobin is measured for detection of diabetes. C-reactive protein is protein (CRP) and other protein markers like apolipoprotein A1 and B are used to detect inflammation that may lead to heart disease.

The factors contribute to the growth of the market include, the rising geriatric population, unhealthy diet & sedentary lifestyle. Moreover, technological advancements in the treatment and devices, introduction of developed treatment procedures have boosted the growth of cardiovascular diagnostic testing market.

By type the market is fragmented into laboratory developed test and In-vitro diagnostic test. Laboratory developed test is further categorized into lipoprotein test, angiotensin test, fibrinogen test, serum uric acid test, and High-sensitivity C-reactive protein (hsCRP). In-vitro diagnostic test is further categorized into electrocardiogram test, echocardiography test, transesophageal echocardiogram test, and others. The In-vitro diagnostic test segment led the market in 2020, and is expected to retain its dominance during the forecast period. 

By panel the market includes Atherosclerotic cardiovascular disease (ASCVD) risk panel with score.

By end user the market is categorized into laboratory testing facilities, academic institutes, and point-of-care testing facilities. The laboratory testing facilities exhibited the highest growth in 2020, and is expected to continue this trend during the forecast period, owing to rise in cardiovascular diseases.

North America accounted for a majority of the global cardiovascular diagnostics testing market share in 2020, and is anticipated to remain dominant during the forecast period. This is attributed to rise in prevalence of cardiovascular diseases, presence of key players, increase in healthcare expenditure, advancements in technology and rise in government initiatives in the region.

This report provides comprehensive competitive analysis and profiles of prominent market players such as 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

• By type, the in- vitro diagnostic test segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
• By end user, the laboratory testing facilities segment held the largest market share in 2020 and is expected to remain dominant during the forecast period. 
• By region, North America is expected to experience market growth at the highest rate, registering a CAGR of 8.3% during the forecast period.