The global cardiac biomarker diagnostic kits market is poised to reach USD 4.5 billion by 2026 end and achieve a CAGR of over 7% from the forecast period.
Online PR News – 24-October-2019 – Leeds – The global cardiac biomarker diagnostic kits market is poised to reach USD 4.5 billion by 2026 end and achieve a CAGR of over 7% from the forecast period 2019-2026.
Increasing focus towards research and development activities coupled with the launch of high sensitive cardiac biomarker kits remain the major factors increasing the cardiac biomarker diagnostic kits market size. The increasing cases of cardiovascular diseases are accelerating the growth of the market. According to the World Health Organization, cardiovascular diseases remain a major cause of death from a disease. Over 17.9 million people die each year from CVDs, an estimated 31% of all deaths worldwide. Increasing geriatric population is also contributing towards growth of the market.
The market is bifurcated into by type, by product, by disease, by type of testing and by region. On the basis of product, troponin I and T segment is expected to dominate the growth of the market. The troponin I and T segment offer high sensitivity, rapid prediction of morality or outcomes and longer elevation time. All these aforementioned factors have boosted the demand for troponin I and T segment, thus increasing the cardiac biomarker diagnostic kits market share.
In terms of product, the reagents and kits segment is expected to increase the cardiac biomarker diagnostic kits market size. The rise in number of cardiac biomarker tests performed because of increasing cases of cardiovascular diseases has led to more demand for reagents and kits. The launch of new, reliable and faster has resulted in more demand for reagents and kits, thus propelling the global cardiac biomarker diagnostic kits market growth.
Based on testing, the point of care testing segment is expected to control the growth of the market. Point-of-care testing offers advantages like improved patient satisfaction and improved emergency department efficiency. It also provides simple sample collection and technological and reduction in length of stay. Owing to these factors there has been a spike in demand for point-of-care testing, thus expanding the cardiac biomarker diagnostic kits market share.
In terms of disease, myocardial infarction segment is expected to control the growth of the market. The increasing number of patients needed for investigation for the diagnosis of acute myocardial infarction remains the major factor boosting the growth of the market.
On the basis of region, North America dictates the growth of the market. Factors such a rise in public-private initiatives to spread awareness related to cardiac diseases coupled with rising cases of cardiovascular diseases are bolstering the market in the region. Technological advancements and increasing geriatric population are also increasing the cardiac biomarker diagnostic kits size in the region.
Asia-Pacific is considered a lucrative region owing to the rising incidence and prevalence of cardiovascular diseases in the region. Emerging economies like India and China are becoming lucrative destinations for manufacturers. China has one of the highest deaths related to cardiovascular disease. According to figures released by American Heart Association, every one in five adults in China has cardiovascular disease. Technological advancements among cardiologists are escalating the market in the region.
Prominent players of the market are bioMerieux SA, Guangzhou Wondfo Biotech Co., Ltd, Danaher Corporation, Siemens AG, Abbott Laboratories, Alere, Inc., LSI Medience Corporation, Randox laboratories, and Ortho Clinical Diagnostics.
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• Abbott in 2017 acquired Alere. The acquisition helped in bolstering the company's portfolio
Global Cardiac Biomarker Diagnostic Kits Market Segmentation
• Troponin I and T
• Bnp Or Nt-Probnp
• Other Biomarkers
• Reagents and Kits
• Myocardial Infarction
• Congestive Heart Failure
By Type of Testing
• Laboratory Testing
• Point-Of-Care Testing
• North America
• Asia Pacific
• Latin America
• Rest of the World
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FutureWise Key Takeaways:
• Growth Prospects
• SWOT Analysis
• Key Trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global cardiac biomarker diagnostic kits market by type, by product, by disease, by type of testing and by region
• To cater comprehensive information on factors impacting market growth (drivers, restraints, industry-specific restraints and opportunities)
• To forecast and evaluate micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America, Europe, Asia Pacific, Latin America and the rest of the world
• To record, evaluate and analyse competitive landscape mapping- technological advancements, product launches, expansions and mergers
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