Global Cardiac Marker Testing Market Size/Share Envisaged to Reach USD 9.73 Billion By 2032, at 8.43% CAGR Growth: Polaris Market Research

NEW YORK, June 12, 2023 /PRNewswire/ — A latest research report [115+] pages with 360-Degree visibility, titled “Cardiac Marker Testing Market Share, Size, Trends, Industry Analysis Report, By Product (Reagents and Kits and Instruments); By Biomarker Type; By End-User; By Region; Segment Forecast, 2023-2032” published by Polaris Market Research in its research repository.

“According to research report, the global cardiac marker testing market size/share was valued at USD 4.42 Billion in 2022 and is expected to touch USD 9.73 Billion By 2032, growing at a CAGR of 8.43% during the forecast period.”

What is Cardiac Marker Testing? How Big is Cardiac Marker Testing Market Size & Share?

Cardiac biomarkers are molecules emitted into the blood after heart injury or stress. These biomarkers may be used to identify several cardiovascular illnesses (CVD), such as acute coronary syndrome (ACS), congestive heart failure, myocardial infarction, and cardiac ischemia. The doctor can assess a patient’s risk of contracting such conditions using cardiac biomarker tests.

In the upcoming years, the cardiac marker testing market is anticipated to be driven by an increase in the senior population and the number of patients experiencing heart attacks and chest discomfort due to a changed lifestyle.

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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, Table of Contents, Graphical introduction of regional analysis, Top players in the market with their revenue analysis and our research methodology.)

Our Sample Report May Includes:

• 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
• 115+ Pages Research Report (Inclusion of Updated Research).
• Provide Chapter-wise guidance on Request.
• 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends.
• Includes Updated List of table & figures.
• Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.

Some of the Top Market Players Are:

• Roche
• Abbott Laboratories
• Danaher Corporation
• Siemens Healthineers
• Becton Dickson
• Bio-Rad Laboratories
• Thermo Fisher Scientific
• LSI Medience
• Quidel Corporation
• Randox Laboratories
• PerkinElmer
• Tosoh Corporation
• Alfa Scientific Designs
• Response Biomedical
• Creative Diagnostics

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Key Growth Driving Factors

• Quick diagnosis and results: The rising focus on developing new and more advanced devices and test kits among key players will also likely fuel the market growth. The growing popularity of these test kits is mainly due to the quick diagnosis and fast results obtained that reduce the diagnostic time involved and expedite the overall treatment process.
• Growing incidence of cardiovascular diseases: Increased use of advanced cardiac marker testing systems and devices has been made possible by the increasing prevalence of cardiovascular diseases worldwide. These systems and devices help in the early detection and diagnosis of various CVD conditions, including heart attack, myocardial infarction, acute coronary syndrome, and heart failure, which boosts the cardiac marker testing market demand.
• Major investments in research and development: Government and private healthcare institutions are heavily investing in the R&D of biomarkers for effective diagnosis, predictive analysis, and prognosis, which is creating significant opportunities for the market. These institutions are also focusing on novel biomarker tests.

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Recent Trends Influencing the Market

• Increased patient population: Due to their rapidly expanding patient populations and government emphasis on constructing healthcare infrastructure with various new technologies and advancements, rapidly developing markets like China and India are providing significant growth opportunities and potential for cardiac diagnostics.

Segmental Analysis

• Reagents and Kits Sector Accounts for the Largest Market Share

The reagents and kits sector had most of the market share and is anticipated to keep that position during the forecast period. The increase in cardiac biomarker tests conducted globally, mostly due to the high burden of various types of cardiovascular illnesses and the ongoing growth in the world’s elderly population, can be directly attributed to the segment market’s expansion.

Moreover, as the demand for quick cardiovascular disease (CVD) detection increases globally, prominent market participants are expected to provide novel cardiac biomarker test kits. This is likely to affect the segment market’s expansion positively.

• Point-of-Care Testing Sector Witness Highest Growth

With the increasing use and adoption of several high-sensitive and simple-to-use POC troponin tests by healthcare service providers and the growing focus on delivering effective and value-based services, the point-of-care sector is predicted to grow at a higher CAGR during the anticipated period. In addition, the exponential increase in the aging population and the increasing need for these POC tests in nursing homes and home healthcare are additional factors anticipated to boost the cardiac marker testing market size.

Furthermore, with a sizable market share in 2022, the laboratory testing sector is expected to dominate the industry. This growth is driven by a wide range of advantages and helpful features provided by laboratory testing, such as high sensitivity, specificity, and cost-effectiveness, as well as the capabilities to encourage all types of testing and play a significant role in clinical decision-making.

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Cardiac Marker Testing Market: Report Scope

Geographical Overview

• North America: With the largest revenue share in the market, the cardiac marker testing market in North America region led the way and is expected to continue to do so for the duration of the forecasted period. The presence of advanced healthcare infrastructure in the region and the growing use of cardiac biomarkers as a crucial diagnostic tool for several diseases are major contributors to the regional market growth. Additionally, the growing elderly population and patients’ high spending capacity for healthcare motivate them to use the most advanced technology to detect diseases like acute myocardial infarction.
• Asia Pacific: Due to the rising affordability of new and advanced cardiac tests, the modernization of the healthcare infrastructure in APAC nations, and the rise in the prevalence of cardiovascular disorders, Asia Pacific had a substantial growth over the study period. Moreover, expected drivers of demand and market expansion in the area include the growing government investment and supportive initiatives for target illness and other research and healthcare expenditure, particularly in nations like China, India, and Malaysia.

Browse the Detail Report “Cardiac Marker Testing Market Share, Size, Trends, Industry Analysis Report, By Product (Reagents and Kits and Instruments); By Biomarker Type; By End-User; By Region; Segment Forecast, 2023-2032” with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/cardiac-marker-testing-market     

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Recent Developments

• The world’s first smartphone-based cardiovascular test was set to launch in January 2022, according to PocDoc, a major digital health platform, and personal diagnostics supplier. It would initially be made available to pharmacies, private healthcare providers, and NHS providers. The company estimates their technology will save the NHS million annually by lowering the required staff members because the new test will cover the entire five market lipid panel.
• Quidel Corporation created a “Triage Cardiac Panel” for use in the ED in May 2022 and is FDA authorized to help identify myocardial infraction. This is to determine myoglobin level, troponin I, and creatine kine MB.

Key Questions Answered in The Report

• What is the market value of cardiac marker tests?
• What are the cardiac marker testing market growth drivers?
• Which segments accounts for the largest cardiac marker testing market share?
• Who are the leading players in the industry?
• Which is the largest regional market for cardiac markers?
• What is market chain analysis by upstream raw materials and downstream industry?
• What are the challenges and opportunities?
• What is the CAGR of the market during the forecast period?

Polaris Market Research has segmented the cardiac marker testing market report based on product, biomarker type, end-user, and region:

By Product Outlook

• Reagents and Kits
• Instruments

By Biomarker Type Outlook

• Troponin I and T
• Creatine Kinase-MB (CK-MB)
• Natriuretic Peptide
• Myoglobin
• High-Sensitivity C-Reactive Protein
• Other Cardiac Biomarkers

By Application Outlook

• Laboratory Testing Facilities
• Point-Of-Care Testing Facilities
• Academic Institutions

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.

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SOURCE Polaris Market Research