Cardiac Marker Testing Market is 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.
The major factors such as rising geriatric population globally and the subsequent increase in chronic heart conditions; the rising prevalence of cardiovascular diseases worldwide; and increasing research & funding initiatives from public/private organizations to discover novel cardiac biomarkers are anticipated to drive the growth of the market.
However, technical challenges associated with sampling collection and storage, regulatory issues, and limited reimbursements are expected to restrain the market growth during the forecast period.
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Key Market Players
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
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Based on products , kits and reagent segment accounted for the largest share of the cardiac marjer tetsing market in 2021.
On the basis of product , the cardiac marker testing market is segmented into kit & reagaents and Instruments. In 2021, the kit & reagaents segment accounted for the largest share of the cardiac marker testing market. Rising prevalence of cardiovascuoar diseases and increasing demand for rapid diagnosis of heart conditions have enhanced the usage of reagents and kits in diagnostic laboratories, academic institutes, and POC facilities. Moreover, rising volume of cardiac marker testing procedures and increase availability of different cardiac biomarker kits and reagents are contrinuting towards the largest share of the segment.
Based on biomarker type , Troponin I and T segment accounted for the largest share of the cardiac marker testing market in 2021.
Due to the high senitivity and specificity are marking troponin choice of biomarker among lab professionsl for the dection of cardiac injury. Moreover, the growing focus of players in introducing higher senistitvity troponin with capabililty of detection of lower level of concenttation of troponin in blood samples are expected to support the growth of the segment.
North America to command the largest share of the cardiac marker testing market in 2021
Based on region, the cardiac marker testing market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa North America accounted for the largest share of the cardiac marker testing market in 2021. The growth of the North American market is primarily driven by the increasing geriatric population, high incidence/prevalence of cardiovascular diseases, increasing number of cardiac marker testing procedures, and strong foothold of well-estanlished players with strong cardiac biomarker testing product portfolio. Moreover, the rising support from the government to support the discovery of new cardiac biomarker is likely to boost the cardiac marker testing market in North America.
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