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Cardiac Biomarkers Market to Reach $26.33 Billion by 2027Cardiac Biomarkers Market to Reach USD 26.33 Billion by 2027; FDA Approval for Elecsys Troponin T (TnT) Gen 5 Stat blood test to Aid Development

May 22, 2020 | Healthcare

The global cardiac biomarkers market size is expected to reach USD 26.33 billion by 2027. The rising shift from laboratory-based tests to point-of-care tests owing to its clinical benefits and reduced diagnosis time will augment the healthy growth of the market in the forthcoming years. In addition, the growing number of approvals by the FDA will have an outstanding effect on the market. For instance, in March 2017, F. Hoffmann-La Roche AG received FDA clearance to Elecsys Troponin T (TnT) Gen 5 Stat blood test for diagnosis of myocardial infarction. The test provides results in 9 minutes, shortening the time to diagnosis by almost 3 hours when compared with Roche’s conventional TnT test, mentioned in a report, titled Cardiac Biomarkers Market Size, Share & Industry Analysis, By Indication (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, and Others), By Biomarker (Troponin, Creatine kinase-MB (CK-MB), B-type Natriuretic Peptide (BNP), Myoglobin, and Others), By End User (Hospitals, and Specialty Clinics), and Regional Forecast, 2020-2027” the market size stood at USD 13.15 billion in 2019 and is predicted to exhibit a CAGR of 11.2% between 2020 to 2027.


Unveiling of New Cardiac Troponin Assay by Alverno to Foster Growth


Alverno Laboratories, a provider of laboratory services to emergency departments announced that it has launched High Sensitivity Cardiac Troponin Assay, which will enable ER doctors to diagnose heart attacks within two hours of a patient’s arrival. The new pioneering technology in the High Cardiac Troponin Assay helps in detection at a faster and accurate rate. The assay was instigated in phases throughout Alverno’s network of 36 hospitals in Illinois and Indiana during 2019. The rising number of heart diseases will subsequently impel companies to launch innovative biomarkers in the foreseeable future. According to the Centers for Disease Control and Prevention, about 610,000 people die of heart disease in the United States every year. Heart disease is the leading cause of death for both men and women. Coronary heart disease (CHD) is the most common type of heart disease, killing over 370,000 people annually. Additionally, the test will aid doctors and healthcare professionals to detect heart attacks in early diagnosis in patients rather more accurately, especially in women. Alverno’s Innovation in Troponin will subsequently support the cardiac biomarkers market share during the forecast period.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/cardiac-biomarkers-market-101233


Demand for Biomarkers Amid COVID-19 Pandemic to Skyrocket


The growing prevalence of cardiovascular diseases (CVDs) among the population due to smoking, diabetes, obesity, and lifestyle changes will influence the market positively. According to the National Centre for Health Statistics, coronary artery diseases (CAD) account for 1 in 4 deaths in the U.S. annually. According to, Centers for Disease Control and Prevention, around 1.5 million cases of myocardial infarctions are registered annually in the United States. The outbreak of coronavirus will consequently spur the demand of the market. For instance, coronavirus (COVID-19) has affected more than 129 countries globally. The impact of COVID-19 on patients suffering from cardiovascular disorders is high, as the virus triggers patients with heart failure, acute coronary syndrome, and others. In addition, the present global scenario will create lucrative business openings for the market in the forthcoming years.


Presence of F. Hoffmann-La Roche AG and Abbott to Reinforce Market Possibilities


The global market is dominated by leading players operating in the market.  In 2019, F. Hoffmann-La Roche AG, Abbott, and Siemens AG were among the top market players accounting for more than 30.0% share of the market. The competitive landscape consists of large, mid-size, and small companies that have developed different types of cardiac biomarkers to target various indications. Key market players are focused on straightening their position in the market through strategies such as the development of innovative products & tests, mergers and acquisitions, partnerships and collaborations, and clinical trials. The increasing R&D activities by key players will consolidate the market in the forthcoming years.


The Reports Lists the Key Companies in the Cardiac Biomarkers Market



  • F. Hoffmann-La Roche AG

  • Abbott

  • Siemens AG

  • Creative Diagnostics

  • Beckman Coulter, Inc.

  • Bio-Rad Laboratories, Inc.

  • Thermo Fisher Scientific Inc.

  • bioMérieux SA

  • Others


Further Report Findings:



  • Regional Analysis: The market size in North America stood at USD 5.23 billion in 2019. The growth in the region is attributed to the rising prevalence of cardiovascular diseases. Europe is expected to grow significantly during the forecast period owing to the rising prevalence of acute coronary syndrome and myocardial infarction in the region.

  • Leading Segment:  The acute coronary syndrome segment is predicted to hold the largest share during the forecast period owing to the increasing prevalence of acute coronary syndrome around the globe.


The Market is segmented into:











































 ATTRIBUTE



 DETAILS



Study Period



  2016-2027



Base Year



  2019



Forecast Period



  2020-2027



Historical Period



  2016-2018



Unit



  Value (USD billion)



Segmentation



By Indication



  • Myocardial Infarction

  • Congestive Heart Failure

  • Acute Coronary Syndrome

  • Others



By Biomarker



  • Troponin

  • Creatine Kinase-MB (CK-MB)

  • B-type Natriuretic Peptide (BNP)

  • Myoglobin

  • Others



By End User



  • Hospitals

  • Specialty Clinics



By Geography



  • North America (the U.S. and Canada)

  • Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and the Rest of Europe)

  • Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and the Rest of Asia- Pacific)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)

  • Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)



 

Cardiac Biomarkers Market
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