Cardiac Bio-Marker Diagnostic Market Expected to be Worthy of US$ 2540.8 Mn BY 2028, CAGR to Rise at 5.1% – Future Market Insights
According to FMI analysts, cardiac bio marker diagnostic test market is set to reach US$ 2540.8 Mn by 2028. Manufacturers and key players are regularly focussing on expanding organic strategies and advanced phenomenon in the market which will help the scenario expand in terms of value and revenue, thereby, paving a path for opportunities. Tough competition between players and inorganic growth strategy is acting as a key restraint in the market.
“With the noticeable expansion of this market, manufacturers are focussing on product innovation and building strong collaborations with the hospitals. The escalating need for diagnostic kits in laboratories and treating cardiovascular issues is likely to drive the market growth in near future,” states the FMI Analyst.
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Cardiac Bio-Marker Diagnostic Test Market – Key Highlights
- Hospitals and laboratories will witness significant incremental opportunity in the market by 2022.
- There has been a growing adoption of BNP kits due to rising incidents of heart failure and cardiovascular issues.
- Troponin bio marker segment is the most sensitive and is highly preferred by medical professionals.
- By region, North America will remain key and register a CAGR of 4.3%.
Cardiac Bio-Marker Diagnostic Test Market – Driving Factors
- Due to increasing incidents of heart failure or heart attacks, this test is regularly in demand.
- Surging demand for quality patient care treatment in developing and developed economies is driving the market to a great extent.
- Demand of kits in research institutes, diagnostic laboratories and outpatient clinics has already gained proper momentum and is paving tracks for market expansion.
Cardiac Bio-Marker Diagnostic Test Market – Key Restraints
- Less availability of test kits is likely to deter market growth.
- Due to tough competition between key players of the market, new players are not able to mark prints effectively.
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Expected Impact on Market by Coronavirus Outbreak
Strict lockdown and social distancing is likely to reduce the production but demand for cardiac bio marker test kits will revive due to reliance on quality patient treatment measures. Key producers and players are likely to improve their strategies for marking a better footprint in the market. North America will continue to dominate the market even after the pandemic by increasing production in the upcoming year.
Key players in the market include Abbott Laboratories, Danaher Corporation, Bio-Rad Laboratories, Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, F. Hoffmann-La Roche Ltd., Siemens AG, bioMérieux SA, and Randox Laboratories Ltd.
Companies are planning to take up unique strategies to expand their market by collaborating with the hospitals. Key players are strengthening their links with universities to develop quality and cost-efficient test kits.
More on the report
This report presents an analysis on the basis of segments including product type (Brain Natriuretic Peptide (BNPs) Test Kits, Creatine Kinase MB (CK-MB) Test Kits, and Troponin) end-use (hospitals, clinics, research institutes, laboratories) and region (North America, Europe, Latin America, Middle East and Africa)
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SOURCE: Future Market Insights