Cardiac Biomarkers Market

Cardiac Biomarkers Market Size (2023 to 2028)

As per our analysis report, the Global Cardiac Biomarkers Market is expected to reach USD 32.4 billion by 2028 from USD 18.5 billion in 2023, growing at a compound annual growth rate (CAGR) of 15.8% during the forecast period.

Cardiac biomarkers can be blood tests to identify enzymes, hormones, and proteins released into the blood in cases of heart damage or disease. They are crucial for noticing any heart conditions like myocardial ischemia and acute coronary syndrome (ACS) in the initial stages. The rising cases of cardiovascular diseases such as heart failure and heart attacks worldwide are the primary factors driving the global cardiac biomarkers market. Also, the spike in the geriatric population that requires early detection of cardiac problems is another factor driving this business growth. The demand for customized medicine according to patient health conditions and the use of biomarkers to identify heart issues in the early stages is also boosting this market.

The government offered funds and grants for research and development activities and increasing awareness about cardiovascular health also created a positive outlook for the cardiac biomarkers market. The surge in interest among private and public sectors to develop innovative healthcare solutions is supposed to produce more accurate and affordable options, increasing demand in the cardiac biomarkers market. Besides, the recent advances in medical technology and diagnostic techniques like point-of-care testing have augmented the capabilities of the cardiac biomarkers to deliver accurate results. Similarly, the growing prevalence of multiplexing technologies to understand numerous biomarkers at the same time is encouraging healthcare providers to adopt them in disease diagnosis. Moreover, the supportive government initiatives and rising partnerships within the healthcare, diagnostic centers, and research centers are likely to create numerous opportunities for the cardiac biomarkers market in the coming years.

The cardiac biomarkers, despite their advantages in the health sector, face some barriers that challenge their rapid adoption. The stringent regulations related to the development of new markers and delays in the approval process are acting as a limitation for several new players to enter the cardiac biomarkers market. In addition, the lack of awareness among patients about the benefits of these biomarkers, mixed with the restricted insurance coverage, is also leading to a negative impact on the cardiac biomarkers market. Also, the high initial setup costs for the research activities and the production of new biomarkers are a concern for the makers in this business. Besides, the cases of inaccurate findings like false positives and false negatives are slowing down the adoption of this process in the worldwide market. Furthermore, the complexities involved in the interpretation of biomarkers, funding limitations, privacy issues, heavy competition among the players, and technical barriers related to reliability are anticipated to constrain the cardiac biomarkers market over the predicted timeframe.

Impact of COVID-19 on the cardiac biomarkers market:

The COVID-19 pandemic had a mixed impact on the global cardiac biomarkers market. The immediate challenge to address COVID cases negatively impacted to the diagnostics procedures, resulting in either cancellation or postponement. The lockdown restrictions resulted in supply chain disruptions, leading to the delayed availability of raw materials, equipment, and reagents used in the diagnosis process. The shutdown of several companies led to the halt of research and development activities and a pause in the creation of new biomarkers. In addition, the decreased budget and expenditures to fight the spread of the pandemic further limited the testing processes. Also, the temporary shutdowns and contactless conditions constrained patient interactions and clinical trials. All healthcare companies focussed mainly on COVID-19, affecting the funds and grants for the cardiac biomarkers. On the other hand, the increased emphasis on health and the detection of diseases in the early stages is creating a positive outlook for the adoption of cardiac biomarkers. During the pandemic, several heart-related ailments were identified among the patients, paving the way for the use of cardiac biomarkers in healthcare settings. Nevertheless, the trend of home sample collections and improved insurance services are likely to boost the cardiac biomarkers market in the future.

REPORT COVERAGE:

This research report on the global cancer biomarkers market has been segmented and sub-segmented based on type, application, end-use, and region.

Cardiac Biomarkers Market – By Type:

• Troponin
• Myoglobin
• Creatinine kinase-MB (CK-MB)
• C-reactive Protein (CRP)
• B-type Natriuretic Peptide (BNP)
• NT-proBNP
• Others

The troponin segment accounted for the leading share in the global market as it is the most prevalent biomarker to identify the risks associated with heart damage. The increasing prevalence of heart failures and ailments like myocardial infarction and acute coronary syndrome is supporting the growth of this segment. The high accuracy and effectiveness of the diagnosis offered by the troponins augmented their production and investments from new entrants, fuelling the segment growth.

Cardiac Biomarkers Market – By Application:

• Acute Coronary Syndrome
• Congestive Heart Failure
• Myocardial Infarction
• Atherosclerosis
• Others

The acute coronary syndrome segment recorded the highest share in the global cardiac biomarkers market due to the spike in related cases in all parts of the world. The changes in consumer lifestyle resulted in conditions like obesity and stress, which directly affect the functionality of the heart and lead to conditions like acute coronary syndrome. Troponin biomarkers are mainly used to identify this ailment in the patients.

The myocardial infarction segment accounted for the second predominant share in the international market and is foreseen to witness tremendous growth in the anticipated period. Similarly, atherosclerosis applications are also supposed to expand in this period.

Cardiac Biomarkers Market – By End-Use:

• Laboratory Testing
• Point-of-care Testing

The laboratory testing segment recorded the majority share of the cardiac biomarkers market. The surge in investments to improve infrastructure and the availability of multiple services in one place is boosting sales in this segment. The scalable and affordable options offered by these laboratories created huge demand among the patients.

Cardiac Biomarkers Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

North America accounted for the highest share of the global cardiac biomarkers market. The USA and Canada are the leading nations in this area. The advanced medical sector and the increase in the number of patients with cardiovascular problems are fuelling the business growth in this area. The USA accounts for the dominant share in North America due to the surge in demand for early diagnostic procedures and cases of myocardial infarction. Moreover, the booming investments in novel healthcare applications and research and development activities are likely to promote the use of cardiac biomarkers more in this area.

Asia Pacific is expected to register the highest growth rate in this market over the predicted period due to the advances in healthcare technologies and growing awareness among consumers about the benefits of cardiac biomarkers. In addition, the affordability of various diagnostic procedures in Asian countries compared to Western nations is encouraging more patients to avail of these services. Moreover, the expanding population and improving disposable income conditions are anticipated to drive market growth in the APAC nations. China and India are leading nations in the Asia Pacific region.

Europe is also a significant market for cardiac biomarkers owing to the growing adaptation of these tests to identify early symptoms of heart failure. The recent increase in cases of acute coronary syndrome and myocardial infarction also promotes the cardiac biomarkers market in this locale.

Latin America registered a smaller portion of the global cardiac biomarkers market. However, the increasing demand for advanced treatments, the rise in medical investments, and improvements in research activities are likely to create lucrative opportunities in this area.

The Middle East and Africa is also a smaller player in the cardiac biomarkers market. Recently, nations in this region have invested in strengthening their healthcare infrastructure and boosting research on advanced therapeutics, which can create positive opportunities for this regional market in the future.

KEY MARKET PLAYERS:

Abbott, Siemens AG, F. Hoffman-La Roche AG, Beckman Coulter, Inc., Thermo Fischer Scientific, Creative Diagnostics, Bio-Rad Laboratories, Inc., Danaher, Life Diagnostics, Randox Laboratories, Quidel Corporation, Luminex Corporation, Trinity Biotech, Biomerieux, Ortho Clinical Diagnostics, DiaSorin, Tosoh Corporation, LSI Medicine Corporation, PerkinElmer, Inc., Becton, Dickinson & Co., and Alere, Inc.

RECENT MARKET DEVELOPMENTS:

• In October 2023, China’s medical devices and solutions firm, Mindray, introduced its troponin I (hs-cTnI) and NT- high sensitivity proBNP cardio biomarkers. Collaborating with its subsidiary HyTest, Mindray developed these biomarkers to assist in early diagnosis and risk monitoring of acute coronary syndrome and heart failure conditions.
• In July 2023, Numare Health’s AXINON LDL-p Test System was approved by the USA’s Food Drug and Administration agency to be included in cardiovascular diagnostics. This new test measures the lipoproteins to identify risk associated with heart failures and heart attacks in the patients.
• In January 2023, India’s Pathkind Labs partnered with Roche Diagnostics to develop a new NTProBNP cardiac biomarker to identify the risks of heart failure and manage Type 2 diabetes.