Cardiac Marker Testing Market Worth $6.9 billion | MarketsandMarkets

CHICAGO, Oct. 25, 2023 /PRNewswire/ -- The cardiac marker testing industry is poised for significant advancements in the near future, driven by breakthroughs in diagnostic technologies and an increasing focus on early detection and prevention of cardiovascular diseases. Innovations such as high-sensitivity cardiac troponin assays and novel biomarkers promise enhanced accuracy and quicker detection of cardiac events, revolutionizing patient care. Additionally, the integration of artificial intelligence and machine learning into cardiac marker analysis is expected to streamline diagnosis, personalize treatment, and improve patient outcomes. With a growing emphasis on telemedicine and remote monitoring, these developments are set to empower healthcare providers with powerful tools for more efficient, timely, and precise cardiovascular risk assessment, ultimately reducing the burden of heart-related illnesses on a global scale.

 

Cardiac Marker Testing Market in terms of revenue was estimated to be worth $4.4 billion in 2023 and is poised to reach $6.9 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a new report by MarketsandMarkets. The expansion of the cardiac marker testing market is propelled by several synergistic factors, including increasing demand for early diagnosis of cardiovascular diseases, escalating cardiovascular diseases prevalence, rising geriatric patient population, growing public-private investments to support for the clinical research of novel cardiac biomarkers and the presence of key market players in developing regions.

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Cardiac Marker Testing Market Scope:

 

Reagents and kits segment to register significant growth rate over the forecast period of 2022-2028

Based on the product, the cardiac marker testing market is segmented into Reagents and kits and instruments. The surge in cardiovascular diseases and the need for swift heart condition diagnosis have amplified the utilization of reagents and kits in diagnostic laboratories, academic institutions, and point-of-care (POC) facilities. Furthermore, the escalating number of cardiac marker testing procedures and the wider availability of diverse cardiac biomarker kits and reagents are significant contributors to this segment's substantial market share.

Troponin I and T segment accounted for the significant share of the cardiac marker testing market in 2022-2028

Based on the biomarker type, Troponin is the preferred biomarker for lab professionals in detecting cardiac injuries due to its remarkable sensitivity and specificity. Additionally, the industry's focus on introducing troponin tests with enhanced sensitivity, enabling the detection of even lower concentrations of troponin in blood samples, is anticipated to bolster the segment's growth.

North America to account for a significant market share in the cardiac marker testing market in 2022

Based on region, The cardiac marker testing market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with North America dominating the market share in 2021. This dominance in North America is propelled by factors such as a growing elderly population, a high incidence of cardiovascular diseases, an increasing number of cardiac marker testing procedures, and the presence of well-established players with robust cardiac biomarker testing portfolios. Furthermore, government support for the discovery of new cardiac biomarkers is expected to further boost the cardiac marker testing market in North America.

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Cardiac Marker Testing Market Dynamics:

Drivers:

1. Rising incidence of cardiovascular diseases
2. Increasing geriatric population and subsequent rise in heart conditions worldwide
3. Growing research & funding initiatives from public & private organizations
4. Rising clinical studies for identification of novel cardiac biomarkers

Restraints:

1. Technical issues related to sample collection & storage
2. Unfavorable regulatory processes and limited reimbursement structure

Opportunities:

1. Point-of-care testing with cardiac biomarkers
2. Ongoing research on novel cardiac biomarkers for cardiovascular diseases
3. Emerging markets offer high-growth opportunities

Challenge:

1. Challenges associated with biomarker assay validation

Key Market Players of Cardiac Marker Testing Industry:

As of 2022, prominent players in the cardiac marker testing market are F. Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), and Siemens Healthineers AG (Germany), Danaher Corporation (US), Siemens Healthineers AG (Germany), PerkinElmer, Inc. (US), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), DiaSorin (Italy), Becton, Dickinson and Company (US), and Tosoh Corporation (Japan), LSI Medience Corporation (Japan), Quidel Corporation (US),  among others.

Recent Developments:

• In 2023, BD announced that it had received FDA approval for its BD Vacutainer Troponin I Ultra test to be used in point-of-care settings which makes the BD Vacutainer Troponin I Ultra test the first and only FDA-approved point-of-care troponin test for the diagnosis of acute myocardial infarction (AMI).
• In 2023, Bio-Rad launched the Bio-Plex 2300 Troponin I Assay, a new high-sensitivity troponin I test that can detect cardiac damage earlier than other troponin tests.

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Cardiac Marker Testing Market Advantages:

• Early Detection: Cardiac markers enable the early identification of heart-related conditions, allowing healthcare providers to initiate timely interventions, which can be crucial in preventing severe cardiac events.
• Accuracy: Advanced cardiac marker assays, including high-sensitivity troponin tests, provide high levels of accuracy, minimizing false positives and false negatives, and ensuring reliable diagnostic results.
• Personalized Care: Cardiac markers help tailor treatment plans to individual patients, as the severity and nature of cardiac conditions can vary greatly. This personalized approach can improve patient outcomes.
• Rapid Diagnosis: Many cardiac marker tests provide quick results, allowing healthcare professionals to make rapid decisions, especially in emergency situations.
• Risk Assessment: Cardiac markers assist in assessing an individual's risk of future cardiovascular events, aiding in the implementation of preventive measures to reduce the likelihood of heart disease.
• Research and Drug Development: Cardiac markers are valuable tools in clinical trials and pharmaceutical research, aiding in the development of new treatments and therapies for heart-related conditions.
• Monitoring Progress: These markers help track a patient's response to treatment and recovery, ensuring that healthcare providers can adjust strategies as needed for optimal care.
• Remote Monitoring: With the advent of telemedicine and remote patient monitoring, cardiac markers can be used to track patient health from a distance, promoting continuity of care and minimizing hospital visits.
• Cost-Efficiency: Cardiac marker testing can assist in cost-effective healthcare delivery by preventing costly hospitalizations and complications associated with untreated heart conditions.
• Public Health Impact: The use of cardiac markers in population health management can help reduce the overall burden of cardiovascular disease, resulting in improved public health and reduced healthcare costs.
• In summary, cardiac marker testing offers multiple advantages, contributing to the early detection, accurate diagnosis, personalized treatment, and improved management of cardiovascular diseases, ultimately leading to better patient outcomes and more cost-effective healthcare delivery.

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