Cardiac Marker Testing Market size was valued at around USD 8.5 billion in 2022 and is estimated to reach over USD 18.4 billion by the end of 2032. The increasing prevalence of cardiovascular diseases is anticipated to drive the industry growth globally.
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Heart attack is one of the major causes of mortality that in turn leads to the increasing demand for the cardiac marker testing in hospitals and diagnostic laboratories. Additionally, the severe health concerns associated with chronic cardiac ailments comprising congestive heart failure, acute coronary syndrome, and atherosclerosis among others are anticipated to stimulate the demand for cardiac marker testing. These tests delivers certain clinical benefits over conventional diagnostic procedures, such as rapid specimen handling, simpler sample requirements, increased automation, and rapid results.
Recently, cardiac marker testing solutions has gained acceptance owing to cost-benefits, especially in low-income countries, wherein the point-of-care testing solutions aid in delivering advanced testing for critical diseases including cardiovascular diseases. As a result, the demand for cardiac marker testing is proliferating, especially in the emerging economies that possess immense market growth potential. Moreover, the increased usage and demand for these testing procedures in hospital settings is expected to develop business growth opportunities.
Cardiac marker testing is employed as a performance evaluation metric to assess cardiopulmonary function and to identify heart rhythm disturbances during exertion or under physical stress. The major role for cardiac markers is in the detection of acute coronary syndromes, assessment of the risk for myocardial infraction (MI), etc. However, the stringent regulatory framework related to cardiac biomarker testing may hamper the market growth.
|Cardiac Marker Testing Market Size in 2022:
|USD 8.5 Billion
|2023 to 2032
|Forecast Period 2023 to 2032 CAGR:
|2032 Value Projection:
|USD 18.4 Billion
|Historical Data for:
|2018 to 2022
|No. of Pages:
|Tables, Charts & Figures:
|Product, Biomarker Type, Application, Distribution Channel, End-use, and Region
|Pitfalls & Challenges:
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Significant increase in number of patients suffering from cardiovascular diseases such as myocardial infarction, congestive heart failure, and acute coronary syndrome among others will primarily drive the market growth over the forecast period. According to the World Health Organization report 2021, around 17.9 million people die from cardiovascular disease each year and 85% of these deaths are due to stroke and heart attacks. Increasing incidence of such diseases fuel the demand for cardiac biomarker testing procedures. Increasing geriatric population suffering from various cardiovascular diseases will significantly drive the market growth. The use of advanced cardiac biomarker testing product helps to offer efficient treatment, thereby reducing the risk of stroke.
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Based on product type, the market is segmented as consumables and analyzers. The consumables segment held majority market share in 2022 and was valued at over USD 5.4 billion. This segment share is primarily attributed to a significant increase in the preference for cardiac disease diagnostic reagents and test kits that are used to examine a range of heart-health issues such as acute coronary syndrome, coronary artery disease and atherosclerosis among others by diagnosing & screening. Market players are emphasizing on the designing of reagents to address the growing and evolving needs for cardiac marker testing in diagnostics centers and hospitals.
The ongoing R&D activities are focused to deliver superior quality & excellent performance consumables that are utilized in cardiovascular diagnostic tests for most demanding applications. Thus, the novel advancements, emergence of integrative technologies that promote the precision & reduce the turn-around time, and product launches are projected to accelerate the cardiac marker testing market growth in near future
Based on biomarker type, the cardiac marker testing market is segmented as troponins, myoglobin, creatine kinase (CK-MB), brain natriuretic peptide (BNP), ischemia modified albumin (IMA), and others. The troponin segment held a dominant market share and was valued at more than USD 4.2 billion in 2022. An evaluation of troponin biomarkers is proving to be highly significant in diagnosing conditions related to inadequate blood flow to the heart. Troponin (I or T) is the most specific and widely utilized biomarker to diagnose a heart attack as it is elevated within a few hours of heart damage and remains elevated for up to 2 weeks.
Similarly, the increasing adoption of troponin cardiac marker testing is attributable to its additional benefits over other testing comprising diagnostic efficiency, specificity, and exact prognostic recognition of cardiac events among others. Thus, the above-mentioned factors are projected to significantly contribute to the industry growth over the forecast period. Moreover, recent innovations and the use of advanced technology in cardiovascular diagnostic tests are projected to augment product demand positively.
Based on application, the market is segmented as myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and others. The congestive heart failure segment accounted for a considerable market share and is expected to grow with a CAGR of 8.9% by the end of 2032. This significant segment growth rate is primarily attributed to the growing prevalence of congestive heart failure and associated deaths.
Based on distribution channel, the cardiac marker testing market is segmented as the hospital pharmacies, brick & mortar, and e-commerce. The brick & mortar stores segment is estimated to progress at considerable growth rate to reach USD 7.7 billion by 2032. This considerable segment share is owing to several advantages offered by the medical retail stores in diagnostic tests distribution including the availability of a wide array of tests and substantial discounts.
Additionally, various market players are focusing on marketing products through medical retail stores that increase the salability of a wide variety of product, thus propelling segmental growth. Some medical retail stores also offer educational programs for precise product awareness and focus on combating health issues including cardiac diseases, etc. Moreover, well-defined safety, effective services, and security policies are boosting the segment revenue. Thus, the above-mentioned variables will propel the segmental revenue in the coming years that will significantly drive the market growth.
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Based on end-use, the cardiac marker testing market is segmented as hospitals, diagnostic centers, and others. The hospitals segment held significant share in 2022 and is projected to reach more than USD 10.4 billion by the end of 2032. The soaring use of novel cardiac tests in hospital settings delivering rapid and reliable outcomes is estimated to surge the patient preference for these healthcare facilities. The availability of a broad spectrum of kits for performing these tests with proven accuracy is set to drive product preference in hospitals.
Growing admissions with cardiac ailments and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other variables that are augmenting the segment growth positively. Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the diagnosis & treatment rate at hospitals. As a result, accessibility to an effective diagnosis coupled with the rising prevalence of cardiovascular diseases and associated conditions will boost the patient visits to hospitals, thereby propelling the segment revenue demand.
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North America dominated the cardiac marker testing market with a significant market share in 2022 and is anticipated to expand at a notable pace to reach more than USD 8.0 billion by 2032. This significant market share is attributed to several factors such as the presence of major industry players, an upsurge in the demand for cardiovascular diagnostic services, rise in the prevalence of cardiovascular conditions, and growing number of hospital admissions across the country among others.
Some of the market players operating in the cardiac marker testing industry are :
Several strategic initiatives such as novel product launches, strategic collaborations, and geographic expansion to gain competitive advantages are being undertaken. These prominent market players are adopting various organic as well as inorganic growth strategies to obtain competitive advantage and strengthen their market position.
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By Product, 2018 - 2032 (USD Million & Units)
By Biomarker Type, 2018 - 2032 (USD Million)
By Application, 2018 - 2032 (USD Million)
By Distribution Channel, 2018 - 2032 (USD Million)
By End-use, 2018 - 2032 (USD Million)
The above information is provided for the following regions and countries: