(I-BusinessNews.Com, August 15, 2019 ) As per the latest report by IMARC Group, titled ÂCardiac Biomarkers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024Â, the global cardiac biomarkers market size reached US$ 6.9 Billion in 2018. Cardiac biomarkers refer to endogenous substances including enzymes, hormones and proteins, which are released into the bloodstream when the heart muscles are damaged, or the organ is stressed. Also known as cardiac enzymes, these substances include myoglobin, troponin, creatine kinase and ischemia-modified albumin. The measurement of these markers aids in diagnosing conditions associated with insufficient blood flow to the heart. They evaluate the heartÂs function and assist in the early diagnosis of certain diseases. They are also used in the risk stratification of patients with chest pain and cardiovascular diseases (CVDs), such as suspected acute coronary syndrome (ACS) or myocardial infarction (MI). Physicians now widely prefer cardiac biomarker measurements over cardiac imaging diagnosis as these procedures are relatively simpler, cost-effective, and offer highly accurate results.
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Global Cardiac Biomarkers Market Trends:
Changing lifestyles, hectic schedules and shifting dietary patterns have resulted in the frequent occurrence of chronic diseases such as diabetes and CVDs. This, along with growing awareness among the majority of the population regarding the importance of early diagnosis of these chronic diseases, is driving the demand for cardiac biomarkers. Also, quicker results and easy availability of point of care (POC) cardiac testing kits are further providing a thrust to the market growth. Furthermore, manufacturers are continually engaging in research and development (R&D) activities to develop technologically advanced product variants such as multi-assay biomarkers. Other factors creating a positive outlook for the market include rapid urbanization, rising disposable income, and favorable government initiative for making quality healthcare services accessible to all. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 11.6 Billion by 2024, growing at a CAGR of around 9% during 2019-2024.
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Market Breakup by Type:
1. Troponins (T and I)
2. Myocardial Muscle Creatine Kinase (CK-MB)
4. Brain Natriuretic Peptide (BNPs) or NT-proBNP
5. Ischemia Modified Albumin (IMA)
On the basis of the type, the market has been divided into troponins (T and I), myocardial muscle creatine kinase (CK-MB), myoglobin, brain natriuretic peptide (BNPs) or NT-proBNP, ischemia modified albumin (IMA) and others.
Market Breakup by Location of Testing:
1. Laboratory Testing
2. Point of Care Testing
Based on the location of testing, the market has been bifurcated into laboratory testing and point of care testing, wherein laboratory testing exhibits a clear dominance in the market.
Market Breakup by Application:
1. Myocardial Infarction
2. Congestive Heart Failure
3. Acute Coronary Syndrome
On the basis of the application, the market has been categorized into myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis and others. Amongst these, myocardial infarction accounts for the majority of the total market share.
Market Breakup by Region:
1. North America
2. Asia Pacific
4. Middle East and Africa
5. Latin America
On the geographical front, North America holds the leading position in the market. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America.
The competitive landscape of the market has also been analyzed, with some of the key players operating in the market being Abbott Laboratories, Alere Inc., Beckman Coulter, Becton, Dickinson And Co., Biomerieux, Bio-Rad Laboratories, Randox Laboratories, Roche Diagnostics Corporation, Siemens Healthcare and Thermo Fisher Scientific.
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