Cardiac Marker Testing Market Analysis

Cardiac Marker Testing Market Analysis

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Based on product type, the market is segmented as consumables and analyzers. The consumables segment held majority market share in 2022 and was valued at over USD 5.4 billion. This segment share is primarily attributed to a significant increase in the preference for cardiac disease diagnostic reagents and test kits that are used to examine a range of heart-health issues such as acute coronary syndrome, coronary artery disease and atherosclerosis among others by diagnosing & screening. Market players are emphasizing on the designing of reagents to address the growing and evolving needs for cardiac marker testing in diagnostics centers and hospitals.
 

The ongoing R&D activities are focused to deliver superior quality & excellent performance consumables that are utilized in cardiovascular diagnostic tests for most demanding applications. Thus, the novel advancements, emergence of integrative technologies that promote the precision & reduce the turn-around time, and product launches are projected to accelerate the cardiac marker testing market growth in near future
 

Based on biomarker type, the cardiac marker testing market is segmented as troponins, myoglobin, creatine kinase (CK-MB), brain natriuretic peptide (BNP), ischemia modified albumin (IMA), and others. The troponin segment held a dominant market share and was valued at more than USD 4.2 billion in 2022. An evaluation of troponin biomarkers is proving to be highly significant in diagnosing conditions related to inadequate blood flow to the heart. Troponin (I or T) is the most specific and widely utilized biomarker to diagnose a heart attack as it is elevated within a few hours of heart damage and remains elevated for up to 2 weeks.
 

Similarly, the increasing adoption of troponin cardiac marker testing is attributable to its additional benefits over other testing comprising diagnostic efficiency, specificity, and exact prognostic recognition of cardiac events among others. Thus, the above-mentioned factors are projected to significantly contribute to the industry growth over the forecast period. Moreover, recent innovations and the use of advanced technology in cardiovascular diagnostic tests are projected to augment product demand positively.
 

Based on application, the market is segmented as myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and others. The congestive heart failure segment accounted for a considerable market share and is expected to grow with a CAGR of 8.9% by the end of 2032. This significant segment growth rate is primarily attributed to the growing prevalence of congestive heart failure and associated deaths.
 

Based on distribution channel, the cardiac marker testing market is segmented as the hospital pharmacies, brick & mortar, and e-commerce. The brick & mortar stores segment is estimated to progress at considerable growth rate to reach USD 7.7 billion by 2032. This considerable segment share is owing to several advantages offered by the medical retail stores in diagnostic tests distribution including the availability of a wide array of tests and substantial discounts.
 

Additionally, various market players are focusing on marketing products through medical retail stores that increase the salability of a wide variety of product, thus propelling segmental growth. Some medical retail stores also offer educational programs for precise product awareness and focus on combating health issues including cardiac diseases, etc. Moreover, well-defined safety, effective services, and security policies are boosting the segment revenue. Thus, the above-mentioned variables will propel the segmental revenue in the coming years that will significantly drive the market growth.
 

Cardiac Marker Testing End-Use Segmentation

Based on end-use, the cardiac marker testing market is segmented as hospitals, diagnostic centers, and others. The hospitals segment held significant share in 2022 and is projected to reach more than USD 10.4 billion by the end of 2032. The soaring use of novel cardiac tests in hospital settings delivering rapid and reliable outcomes is estimated to surge the patient preference for these healthcare facilities. The availability of a broad spectrum of kits for performing these tests with proven accuracy is set to drive product preference in hospitals.
 

Growing admissions with cardiac ailments and growing disease screening initiatives along with the accessibility to board-certified healthcare professionals are some other variables that are augmenting the segment growth positively. Furthermore, the rising disease burden in developed economies with enhanced healthcare infrastructure is projected to stimulate the diagnosis & treatment rate at hospitals. As a result, accessibility to an effective diagnosis coupled with the rising prevalence of cardiovascular diseases and associated conditions will boost the patient visits to hospitals, thereby propelling the segment revenue demand.
 

North America dominated the cardiac marker testing market with a significant market share in 2022 and is anticipated to expand at a notable pace to reach more than USD 8.0 billion by 2032. This significant market share is attributed to several factors such as the presence of major industry players, an upsurge in the demand for cardiovascular diagnostic services, rise in the prevalence of cardiovascular conditions, and growing number of hospital admissions across the country among others.