Cardiac Marker Testing Market in terms of revenue was estimated to be worth $4.4 billion in 2023 and is poised to reach $6.9 billion by 2028, growing at a CAGR of 9.4% from 2023 to 2028 according to a new report by MarketsandMarkets. The expansion of the cardiac marker testing market is propelled by several synergistic factors, including increasing demand for early diagnosis of cardiovascular diseases, escalating cardiovascular diseases prevalence, rising geriatric patient population, growing public-private investments to support for the clinical research of novel cardiac biomarkers and the presence of key market players in developing regions.
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Reagents and kits segment to register significant growth rate over the forecast period of 2022-2028
Based on the product, the cardiac marker testing market is segmented into Reagents and kits and instruments. The surge in cardiovascular diseases and the need for swift heart condition diagnosis have amplified the utilization of reagents and kits in diagnostic laboratories, academic institutions, and point-of-care (POC) facilities. Furthermore, the escalating number of cardiac marker testing procedures and the wider availability of diverse cardiac biomarker kits and reagents are significant contributors to this segment's substantial market share.
Troponin I and T segment accounted for the significant share of the cardiac marker testing market in 2022-2028
Based on the biomarker type, Troponin is the preferred biomarker for lab professionals in detecting cardiac injuries due to its remarkable sensitivity and specificity. Additionally, the industry's focus on introducing troponin tests with enhanced sensitivity, enabling the detection of even lower concentrations of troponin in blood samples, is anticipated to bolster the segment's growth.
North America to account for a significant market share in the cardiac marker testing market in 2022
Based on region, The cardiac marker testing market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with North America dominating the market share in 2021. This dominance in North America is propelled by factors such as a growing elderly population, a high incidence of cardiovascular diseases, an increasing number of cardiac marker testing procedures, and the presence of well-established players with robust cardiac biomarker testing portfolios. Furthermore, government support for the discovery of new cardiac biomarkers is expected to further boost the cardiac marker testing market in North America.
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Cardiac Marker Testing Market Dynamics:
Drivers:
- Rising incidence of cardiovascular diseases
- Increasing geriatric population and subsequent rise in heart conditions worldwide
- Growing research & funding initiatives from public & private organizations
- Rising clinical studies for identification of novel cardiac biomarkers
Restraints:
- Technical issues related to sample collection & storage
- Unfavorable regulatory processes and limited reimbursement structure
Opportunities:
- Point-of-care testing with cardiac biomarkers
- Ongoing research on novel cardiac biomarkers for cardiovascular diseases
- Emerging markets offer high-growth opportunities
Challenge:
- Challenges associated with biomarker assay validation
Key Market Players of Cardiac Marker Testing Industry:
As of 2022, prominent players in the cardiac marker testing market are F. Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), and Siemens Healthineers AG (Germany), Danaher Corporation (US), Siemens Healthineers AG (Germany), PerkinElmer, Inc. (US), bioMérieux SA (France), Bio-Rad Laboratories, Inc. (US), Thermo Fisher Scientific Inc. (US), DiaSorin (Italy), Becton, Dickinson and Company (US), and Tosoh Corporation (Japan), LSI Medience Corporation (Japan), Quidel Corporation (US), among others.
Recent Developments:
- In 2023, BD announced that it had received FDA approval for its BD Vacutainer Troponin I Ultra test to be used in point-of-care settings which makes the BD Vacutainer Troponin I Ultra test the first and only FDA-approved point-of-care troponin test for the diagnosis of acute myocardial infarction (AMI).
- In 2023, Bio-Rad launched the Bio-Plex 2300 Troponin I Assay, a new high-sensitivity troponin I test that can detect cardiac damage earlier than other troponin tests.
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