[2020-2027] Cardiac Biomarker Market is Poised for Steady Growth at CAGR of 18.9%
Pune, Maharashtra, India, February 18 2021 (Wiredrelease) Allied Analytics –:The global Cardiac Biomarker Market would generate the revenue at CAGR of 18.9%. Cardiac Troponins (T, I) would continue to dominate the market throughout the forecast period due to high sensitivity and specificity. Continuous focus on pipeline research and developments from leading players and increased patient awareness across untapped region such as India, China are largely driving the growth of cardiac biomarkers market.
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The growing application of cardiac biomarkers as point of care (POC) testing facilitate quick results in chronic conditions, thus drives the market growth. However, specificity and sensitivity related concerns of single measurement cardiac biomarkers, premium pricing and certain government regulations would hinder the market growth. Also, the overall market growth would bank on novel progress made in cardiac treatments using multi-assay biomarkers. The lifesaving benefits of these multi-assay biomarkers would foster the revenue generation process as well as market penetration of novel cardiac biomarkers in future.
North America would continue to lead the market owing to high awareness, and favorable healthcare reimbursement policies. In addition, Asia Pacific would emerge as one of the most lucrative regions and would closely follow Europe in terms of revenue. Prime factor fuelling the growth of Asia Pacific region include, presence of large number of undiagnosed cardiac patient, rapid urbanization, rising disposable income, and growing awareness about cardiac disease management programs i.e. quick cardiac checkup (QCC).
Key findings of the study:
• Troponin segment is projected as a leading market segment throughout the forecast period
• Revenue of myocardial infarction application segment is expected to grow almost three fold by 2020
• Laboratory location of testing market segment still dominates the global market
• Point of care location of testing segment is projected to grow at a CAGR of 22% during the forecast period
• Countries like India and China holds prominent potential owing to higher count of undiagnosed cardiac patients
The principal strategy adopted by the leading players in the market is the product launch. The key companies profiled in the report are Abbott laboratories, Alere Inc., Siemens Healthcare, Roche Diagnostics Corporation, Beckman Coulter, Becton, Dickinson and Company, Thermo Fisher Scientific, BioMerieux, Bio-Rad Laboratories and Randox laboratories.
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