The global cardiac biomarker diagnostic test kits market is poised for significant growth, with an estimated market size of USD 1,950 million in 2023. The market is expected to expand at a compound annual growth rate (CAGR) of 5.1% during the forecast period from 2023 to 2033, ultimately reaching USD 3,206.73 million by 2033.
The cardiac biomarker diagnostic test kits market growth has been steady during the historical period. Factors such as the rising incidence of cardiovascular diseases, an aging population, and increased awareness of early disease detection drove market expansion.
Technological advancements in biomarker assays, including high-sensitivity tests, improved accuracy and aided in early disease diagnosis. The adoption of point-of-care testing also increased, allowing for rapid results and improved patient care. The market witnessed consolidation through mergers and acquisitions. It was a period of growth and development.
The cardiac biomarker diagnostic test kits market is expected to continue its growth trajectory over the upcoming years. Factors such as an aging global population, increased lifestyle-related diseases, and the demand for personalized medicine are anticipated to drive market expansion.
Growth Drivers
- Rising Incidence of Cardiovascular Diseases: The increasing prevalence of heart-related conditions, such as coronary artery disease, myocardial infarction (heart attacks), and heart failure, is a major factor propelling the demand for cardiac biomarker diagnostic test kits. As cardiovascular diseases remain a leading cause of mortality worldwide, early detection through biomarkers is becoming increasingly essential for effective diagnosis and treatment.
- Advancements in Diagnostic Technology: Technological innovations in cardiac biomarker testing, such as high-sensitivity assays and point-of-care testing kits, are contributing to the growth of the market. These advancements offer quicker results and more accurate diagnostic capabilities, enhancing the adoption of these kits in healthcare settings.
- Increase in Preventive Healthcare: Growing awareness about preventive healthcare and early diagnostics is driving demand for cardiac biomarker tests. Healthcare providers are placing greater emphasis on early screening for heart diseases, which is expected to fuel the demand for diagnostic test kits.
- Aging Population: The global aging population is another key factor influencing market growth. As individuals age, the risk of cardiovascular diseases rises, leading to increased demand for diagnostic solutions that can detect heart-related conditions at an early stage.
Regional Outlook
- North America: North America is expected to maintain its dominance in the cardiac biomarker diagnostic test kits market, with the United States accounting for a significant share due to advanced healthcare infrastructure, high healthcare spending, and rising cases of cardiovascular diseases.
- Europe: Europe is also projected to witness substantial growth, driven by strong healthcare systems, aging populations, and increasing focus on early diagnosis and preventive care.
- Asia-Pacific: The Asia-Pacific region is anticipated to grow at the highest rate during the forecast period. Rapid improvements in healthcare infrastructure, increased healthcare awareness, and rising rates of heart diseases are expected to drive the demand for cardiac biomarker diagnostic tests in countries like China and India.
Future Outlook
The global cardiac biomarker diagnostic test kits market is poised for sustained growth, fueled by advancements in diagnostic technologies and the rising burden of cardiovascular diseases. As the demand for early and accurate diagnosis continues to grow, the market is expected to expand at a CAGR of 5.1% from 2023 to 2033, reaching a valuation of US$ 3,206.73 million by the end of the forecast period.
Key Insights
The growth of the cardiac biomarker diagnostic test kits market is driven by several factors:
- Increasing Incidence of Cardiovascular Diseases: The rising prevalence of heart-related conditions necessitates effective diagnostic tools for early detection and management.
- Aging Population: An aging demographic is more susceptible to cardiovascular diseases, further fueling demand for diagnostic test kits.
- Awareness of Early Disease Detection: Growing awareness regarding the importance of early diagnosis is encouraging healthcare providers and patients to utilize cardiac biomarker tests.
Market Dynamics
- The demand for cardiac biomarker diagnostic test kits has shown steady growth, with a historical CAGR of 4.5% from 2018 to 2022.
- The market is significantly influenced by advancements in technology and the development of novel biomarkers that enhance diagnostic accuracy.
Regional Insights
- North America is expected to dominate the market due to advanced healthcare infrastructure and high rates of cardiovascular diseases.
- Emerging markets in Asia-Pacific are also anticipated to grow rapidly, driven by increasing healthcare investments and rising disease prevalence.
Competitive Landscape
To achieve a competitive advantage, leading players are focused on strategic relationships with universities and manufacturing. To meet rising demand, several manufacturers are releasing novel items and investing extensively in studies and development to create sophisticated cardiac biomarkers.
- Cardio Diagnostics Holdings Inc., a leading-edge cardiovascular medicine firm powered by artificial intelligence, unveiled its introduction of PrecisionCHDTM, a comprehensive epigenetic-genetic blood analysis for the early diagnosis of coronary cardiac disease, in February 2023.
- Quidel Corporation developed a “Triage Cardiac Panel” to be employed in the ED in May 2022, and it is FDA-approved to assist in the identification of myocardial infraction. This is done to assess myoglobin levels, troponin I levels, and creatine kine MB levels.
Key Companies Profiled
- Abbott Laboratories
- Danaher Corporation
- Bio-Rad Laboratories
- Thermo Fisher Scientific, Inc.
- Becton, Dickinson and Company
- F. Hoffmann-La Roche Ltd.
- Siemens AG
- BioMérieux SA
- Randox Laboratories Ltd.
- Others
A Full Report Overview
Segmentation Analysis of the Cardiac Biomarker Diagnostic Test Kits Market
By Product Type:
- Brain Natriuretic Peptide (BNPs) Test Kits
- Creatine Kinase MB (CK-MB) Test Kits
- Troponin (I&T) Tests Kits
- Myoglobin Test Kits
- Others
By Indication:
- Angina Pectoris
- Acute Myocardial Infarction
- Congestive Heart Failure
- Others
By End User:
- Hospitals
- Diagnostic Laboratories
- Outpatient Clinics
- Academic & Research Institutes
Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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