Abstract
Summary
The global cardiac marker testing market is projected to reach USD 6.9 billion by 2028 from USD 4.1 billion in 2022, growing at a CAGR of 9.4% during the forecast period. The projected surge in market growth for cardiac marker testing is underpinned by a confluence of compelling advantages. Notably, cardiac marker testing is driven by aging population, rising cases of cardiovascular diseases, increase in research & funding initiatives from public/private organizations to discover novel cardiac biomarkers. Furthermore, the escalating early detection of heart failure diseases with improved efficacy for diagnosing heart conditions amplifies the demand for advanced treatment modalities, with cardiac marker testing positioned as a forefront solution. This convergence of factors is poised to usher in a phase of robust expansion within the market, consequently shaping the landscape of cardiac marker testing adoption in the forthcoming forecasting years.
“Troponin I and T segment to register largest market share in 2022-2028”
Based on the biomarker type, cardiac marker testing market is segmented into Troponin I and T, Creatine Kinase-MB (CK-MB), Brain Natriuretic Peptide (BNP and NT-PROBNP), Myoglobin, High-sensitivity C-reactive Protein (hs-CRP), and other cardiac biomarkers. The Troponin I and T segment register a largest market share over the forecast period of 2022-2028. The growth of this segment is propelled by factors such as exceptional sensitivity and specificity, prolonged elevation duration (with levels rising over 4-8 hours, peaking at 10-24 hours, and declining over ten days), and the swift prediction of outcomes. Moreover, lab technicians are more adept at utilizing these markers in comparison to other biomarkers, further fueling the segment's advancement.
“Laboratory testing facilities segment held the largest share of cardiac marker testing market in 2022, by End-user.”
Based on the end-user, the cardiac marker testing market is segmented into laboratory testing facilities, academic institutes, and point-of-care testing facilities. In 2022, the laboratory testing facilities segment accounted for the largest share of 61.2% of the global cardiac marker testing market. The growth of this segment is being propelled by factors including increased testing efficiency, superior sensitivity and diagnostic precision in comparison to point-of-care testing, and a strong preference for laboratory testing over point-of-care testing.
“Asia Pacific to register significant growth rate in the market during the forecast period.”
For the forecasting period 2023-2028, the APAC region is expected to register a significant growth rate in the market during the forecast period. Asia Pacific comprises India, China, Japan, Australia, South Korea, and RoAPAC. The Asia-Pacific (APAC) region has witnessed a significant increase in the market growth rate for cardiac marker testing. There are several drivers that contributed to this growth:
The Asia Pacific market is experiencing growth due to increased investments by government agencies in emerging countries, aimed at enhancing healthcare infrastructure. Additionally, the market is benefiting from the rise in independent clinical laboratories, a substantial patient population, and strategic initiatives by industry players to expand their offerings of cardiac testing products in the Asia Pacific region.
A breakdown of the primary participants referred to for this report is provided below:
• By Company Type: Tier 1–43%, Tier 2–30%, and Tier 3– 27%
• By Designation: C-level–10%, Director-level–15%, and Others–75%
• By Region: North America–40%, Europe–30%, Asia Pacific–23%, Latin America–5%, and the Middle East & Africa–2%
Prominent players in this market are F.Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), ), Thermo Fisher Scientific Inc. (US) among others.
Research Coverage
• The report studies the marker testing market based on products, biomarker type, diseases, end user, and region.
• The report analyzes factors (such as drivers, restraints, opportunities, and challenges) affecting the market growth.
• The report evaluates the opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders.
• The report studies micro markets with respect to their growth trends, prospects, and contributions to the global cardiac marker testing market
• The report forecasts the revenue of market segments with respect to five major regions.
Key Benefits of Buying the Report:
The report will help the new entrants/ market leaders/smaller firms in this market with investment evaluation viability within the cardiac marker testing market through a thorough analysis of comprehensive data, thereby facilitating robust risk assessment and enabling well-informed investment determinations. Benefit from meticulous market segmentation encompassing application, end-user, and regional dimensions, affording tailored insights for precise segment targeting. The report also provides an all-encompassing evaluation of encapsulating pivotal trends, challenges, growth catalysts and prospects, thereby empowering strategic decision-making with astute discernment.
The report provides insights on the following pointers:
• Analysis of key drivers (increasing prevalence of cardiovascular diseases, Increasing geriatric population and subsequent rise in heart conditions worldwide, Ongoing clinical trials for the 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 (POCT) with cardiac biomarkers, Emerging markets offers high-growth opportunities, Ongoing research on novel cardiac biomarkers for cardiovascular diseases), and challenges (Challenges associated with biomarker assay validation) influencing the growth of the cardiac marker testing market
• Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the cardiac marker testing market.
• Market Development: Comprehensive information about lucrative markets – the report analyses the cardiac marker testing market across varied regions.
• Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the cardiac marker testing market
• Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like F.Hoffmann-La Roche AG (Switzerland), Abbott Laboratories (US), Danaher Corporation (US), Siemens Healthineers AG (Germany), among others.
Table of Contents
1 INTRODUCTION 28
1.1 STUDY OBJECTIVES 28
1.2 MARKET DEFINITION 28
1.2.1 INCLUSIONS AND EXCLUSIONS OF STUDY 29
1.3 MARKET SCOPE 29
1.3.1 MARKETS COVERED 29
1.3.2 REGIONS COVERED 30
1.4 YEARS CONSIDERED 30
1.5 CURRENCY 31
1.6 RESEARCH LIMITATIONS 31
1.7 MARKET STAKEHOLDERS 31
1.8 SUMMARY OF CHANGES 31
1.8.1 RECESSION IMPACT 32
2 RESEARCH METHODOLOGY 33
2.1 RESEARCH DATA 33
2.2 RESEARCH DESIGN 34
2.2.1 SECONDARY RESEARCH 34
2.2.2 PRIMARY RESEARCH 36
- 2.2.2.1 Primary sources 37
- 2.2.2.2 Key industry insights 38
- 2.2.2.3 Breakdown of primaries 38
2.3 MARKET SIZE ESTIMATION 39
2.3.1 BOTTOM-UP APPROACH 41
2.3.2 APPROACH 1: COMPANY REVENUE ESTIMATION APPROACH 41
2.3.3 APPROACH 2: CUSTOMER-BASED MARKET ESTIMATION 42
2.3.4 APPROACH 3: TOP-DOWN APPROACH 43
2.3.5 APPROACH 4: PRIMARY INTERVIEWS 43
2.4 DATA TRIANGULATION AND MARKET BREAKDOWN 44
2.5 MARKET SHARE ASSESSMENT 46
2.6 STUDY ASSUMPTIONS 46
2.7 RISK ASSESSMENT 46
2.8 GROWTH RATE ASSUMPTIONS 47
2.9 RECESSION IMPACT 47
3 EXECUTIVE SUMMARY 48
4 PREMIUM INSIGHTS 52
4.1 CARDIAC MARKER TESTING MARKET OVERVIEW 52
4.2 NORTH AMERICA: CARDIAC MARKER TESTING MARKET, BY COUNTRY AND END USER, 2022 53
4.3 CARDIAC MARKER TESTING MARKET: REGIONAL MIX 54
4.4 CARDIAC MARKER TESTING MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 55
5 MARKET OVERVIEW 56
5.1 INTRODUCTION 56
5.1.1 DRIVERS 57
- 5.1.1.1 Rising prevalence of cardiovascular diseases 57
- 5.1.1.2 Increasing geriatric population and subsequent rise in heart conditions worldwide 57
- 5.1.1.3 Growing research and funding initiatives from public and private organizations 58
- 5.1.1.4 Rising clinical studies for identification of novel cardiac biomarkers 58
5.1.2 RESTRAINTS 58
- 5.1.2.1 Technical issues related to sample collection and storage 58
- 5.1.2.2 Unfavorable regulatory processes and limited reimbursement structure 59
5.1.3 OPPORTUNITIES 60
- 5.1.3.1 Point-of-care testing with cardiac biomarkers 60
- 5.1.3.2 Ongoing research on novel cardiac biomarkers for cardiovascular diseases 60
- 5.1.3.3 Emerging markets 61
5.1.4 CHALLENGES 61
- 5.1.4.1 Challenges associated with biomarker assay validation 61
5.2 KEY STAKEHOLDERS AND BUYING CRITERIA 62
5.2.1 KEY STAKEHOLDERS IN BUYING PROCESS 62
5.3 PORTER’S FIVE FORCES ANALYSIS 62
5.3.1 THREAT OF NEW ENTRANTS 63
5.3.2 THREAT OF SUBSTITUTES 63
5.3.3 BARGAINING POWER OF SUPPLIERS 63
5.3.4 BARGAINING POWER OF BUYERS 63
5.3.5 INTENSITY OF COMPETITIVE RIVALRY 64
5.4 REGULATORY ANALYSIS 64
5.4.1 US 64
5.4.2 EUROPE 65
5.4.3 JAPAN 66
5.5 REIMBURSEMENT SCENARIO 66
5.6 ECOSYSTEM MAPPING 68
5.7 VALUE CHAIN ANALYSIS 68
5.7.1 RESEARCH & DEVELOPMENT 68
5.7.2 PROCUREMENT AND PRODUCT DEVELOPMENT 68
5.7.3 MARKETING, SALES AND DISTRIBUTION, AND POST-SALES SERVICES 68
5.8 SUPPLY CHAIN ANALYSIS 69
5.8.1 PROMINENT COMPANIES 69
5.8.2 SMALL & MEDIUM-SIZED COMPANIES 69
5.8.3 END USERS 69
5.9 PRICING ANALYSIS 70
5.10 PATENT ANALYSIS 72
5.11 TRADE ANALYSIS 73
5.12 CASE STUDIES 75
5.13 KEY CONFERENCES AND EVENTS, 2023-2024 75
5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMER’S BUSINESS 76
5.15 IMPACT OF RECESSION ON CARDIAC MARKER TESTING MARKET 76
6 CARDIAC MARKER TESTING MARKET, BY PRODUCT 78
6.1 INTRODUCTION 79
6.2 REAGENTS & KITS 79
6.2.1 RISING VOLUME OF DIAGNOSTIC TESTS TO DRIVE DEMAND 79
6.3 INSTRUMENTS 81
6.3.1 CHEMILUMINESCENCE 82
- 6.3.1.1 Most preferred method for quantifying cardiac biomarkers 82
6.3.2 IMMUNOFLUORESCENCE 84
- 6.3.2.1 Demand for stable and safer reagents to support market growth 84
6.3.3 ELISA 85
- 6.3.3.1 Long shelf life and ease of use to propel growth 85
6.3.4 IMMUNOCHROMATOGRAPHY 86
- 6.3.4.1 Increasing use in point-of-care settings to propel adoption 86
7 CARDIAC MARKER TESTING MARKET, BY INDICATION 88
7.1 INTRODUCTION 89
7.2 MYOCARDIAL INFARCTION 89
7.2.1 AVAILABILITY OF HIGH-SENSITIVITY BIOMARKERS FOR DETECTION TO DRIVE MARKET 89
7.3 CONGESTIVE HEART FAILURE 90
7.3.1 INCREASING USE OF MULTIMARKER TESTING TO SUPPORT MARKET GROWTH 90
7.4 ACUTE CORONARY SYNDROME 91
7.4.1 INCREASING INCIDENCE OF RISK FACTORS ASSOCIATED WITH ACS TO DRIVE ADOPTION OF CARDIAC MARKERS 91
7.5 ATHEROSCLEROSIS 92
7.5.1 HIGH PREVALENCE OF ATHEROSCLEROSIS TO DRIVE MARKET 92
7.6 ISCHEMIA 93
7.6.1 INCREASE IN CARDIAC ISCHEMIA TO BOOST DEMAND FOR CARDIAC MARKER TESTS 93
8 CARDIAC MARKER TESTING MARKET, BY BIOMARKER TYPE 95
8.1 INTRODUCTION 96
8.2 TROPONIN I AND T 96
8.2.1 HIGH SENSITIVITY AND SPECIFICITY IN DETECTION OF CVD TO DRIVE MARKET 96
8.3 CREATINE KINASE-MB 98
8.3.1 POOR SPECIFICITY AND BRIEF ELEVATION DURATION TO HAMPER MARKET GROWTH 98
8.4 BRAIN NATRIURETIC PEPTIDE 100
8.4.1 USE OF BNP WITH OTHER CARDIAC MARKERS TO ENHANCE UTILIZATION 100
8.5 MYOGLOBIN 102
8.5.1 USED TO ASSESS PATIENTS WITH CHEST PAIN IN EMERGENCY DEPARTMENT SETTINGS 102
8.6 HIGH-SENSITIVITY C-REACTIVE PROTEIN 103
8.6.1 INCREASING INCIDENCE OF CARDIOVASCULAR DISEASES TO PROPEL ADOPTION 103
8.7 OTHER CARDIAC BIOMARKERS 105
9 CARDIAC MARKER TESTING MARKET, BY END USER 108
9.1 INTRODUCTION 109
9.2 LABORATORY TESTING FACILITIES 109
9.2.1 HOSPITAL LABORATORIES 110
- 9.2.1.1 Early diagnosis associated with in-house labs to support market growth 110
9.2.2 REFERENCE LABORATORIES 111
- 9.2.2.1 Affordable and time-efficient services associated with reference laboratories to drive market 111
9.2.3 CONTRACT TESTING LABORATORIES 112
- 9.2.3.1 Ability to perform multiple tests to propel market 112
9.3 ACADEMIC INSTITUTES 113
9.3.1 CONTINUOUS RESEARCH & DEVELOPMENT OF NOVEL BIOMARKERS TO DRIVE MARKET 113
9.4 POINT-OF-CARE TESTING FACILITIES 113
9.4.1 EARLY DETECTION AND LOWER TURNAROUND TIME TO PROPEL MARKET 113
10 CARDIAC MARKER TESTING MARKET, BY REGION 115
10.1 INTRODUCTION 116
10.2 NORTH AMERICA 117
10.2.1 NORTH AMERICA: RECESSION IMPACT 117
10.2.2 US 120
- 10.2.2.1 Growing support from NIH for development of novel cardiac biomarkers to drive market 120
10.2.3 CANADA 120
- 10.2.3.1 Government initiatives to support market growth 120
10.3 EUROPE 121
10.3.1 EUROPE: RECESSION IMPACT 121
10.3.2 GERMANY 123
- 10.3.2.1 Favorable government policies to support market growth 123
10.3.3 FRANCE 124
- 10.3.3.1 Rising geriatric population to drive market 124
10.3.4 UK 125
- 10.3.4.1 Government initiatives to boost adoption of cardiac biomarkers 125
10.3.5 ITALY 125
- 10.3.5.1 Adoption of advanced diagnostic technologies to drive market 125
10.3.6 SPAIN 126
- 10.3.6.1 Establishment of large and advanced laboratories to drive uptake of cardiac marker testing 126
10.3.7 REST OF EUROPE 126
10.4 ASIA PACIFIC 127
10.4.1 ASIA PACIFIC: RECESSION IMPACT 127
10.4.2 JAPAN 131
- 10.4.2.1 Presence of advanced laboratory facilities to drive market 131
10.4.3 CHINA 132
- 10.4.3.1 Growing number of independent clinical laboratories to drive demand for cardiac markers 132
10.4.4 INDIA 132
- 10.4.4.1 Presence of large patient population to drive demand 132
10.4.5 AUSTRALIA 133
- 10.4.5.1 Increasing healthcare expenditure to support market growth 133
10.4.6 SOUTH KOREA 134
- 10.4.6.1 Growing number of private hospitals to drive adoption of advanced testing services 134
10.4.7 REST OF ASIA PACIFIC 134
10.5 LATIN AMERICA 135
10.5.1 LATIN AMERICA: RECESSION IMPACT 135
10.5.2 BRAZIL 137
- 10.5.2.1 Increasing government support for advancements in healthcare to support market growth 137
10.5.3 MEXICO 138
- 10.5.3.1 Rising demand for technologically advanced products to drive uptake of cardiac markers 138
10.5.4 REST OF LATIN AMERICA 139
10.6 MIDDLE EAST & AFRICA 139
10.6.1 IMPROVEMENTS IN HEALTHCARE INFRASTRUCTURE TO DRIVE DEMAND FOR ADVANCED MARKERS 139
10.6.2 MIDDLE EAST & AFRICA: RECESSION IMPACT 139
10.6.3 GCC COUNTRIES 141
11 COMPETITIVE LANDSCAPE 142
11.1 OVERVIEW 142
11.2 STRATEGIES ADOPTED BY KEY PLAYERS 142
11.2.1 OVERVIEW OF STRATEGIES ADOPTED BY PLAYERS IN CARDIAC MARKER TESTING MARKET 143
11.3 REVENUE SHARE ANALYSIS 144
11.4 MARKET RANKING ANALYSIS 145
11.5 COMPANY EVALUATION MATRIX 147
11.5.1 STARS 147
11.5.2 EMERGING LEADERS 147
11.5.3 PERVASIVE PLAYERS 147
11.5.4 PARTICIPANTS 147
11.6 STARTUP/SME EVALUATION MATRIX 149
11.6.1 PROGRESSIVE COMPANIES 149
11.6.2 STARTING BLOCKS 149
11.6.3 RESPONSIVE COMPANIES 149
11.6.4 DYNAMIC COMPANIES 149
11.7 COMPANY FOOTPRINT 151
11.8 COMPETITIVE SCENARIOS AND TRENDS 154
12 COMPANY PROFILES 157
12.1 KEY PLAYERS 157
12.1.1 F. HOFFMANN-LA ROCHE AG 157
12.1.2 ABBOTT LABORATORIES 162
12.1.3 SIEMENS HEALTHINEERS AG 166
12.1.4 DANAHER CORPORATION 170
12.1.5 BIO-RAD LABORATORIES, INC 173
12.1.6 BIOMÉRIEUX SA 176
12.1.7 BECTON, DICKINSON AND COMPANY 178
12.1.8 THERMO FISHER SCIENTIFIC INC 181
12.1.9 DIASORIN S.P.A 184
12.1.10 PERKINELMER INC 187
12.1.11 TOSOH CORPORATION 190
12.1.12 LSI MEDIENCE CORPORATION (PHC HOLDINGS CORPORATION) 193
12.1.13 QUIDEL CORPORATION 195
12.1.14 RANDOX LABORATORIES 198
12.1.15 GUANGZHOU WONDFO BIOTECH CO., LTD 200
12.1.16 BODITECH MED INC 202
12.1.17 TULIP DIAGNOSTICS (P) LTD 204
12.1.18 BTNX INC 205
12.1.19 RESPONSE BIOMEDICAL 207
12.1.20 ALFA SCIENTIFIC DESIGNS, INC 209
12.2 OTHER PLAYERS 210
12.2.1 CTK BIOTECH, INC 210
12.2.2 CREATIVE DIAGNOSTICS 211
12.2.3 LIFESIGN LLC 211
12.2.4 CARDIOGENICS HOLDINGS INC 212
12.2.5 ATLAS MEDICAL GMBH 212
13 APPENDIX 213
13.1 DISCUSSION GUIDE 213
13.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 218
13.3 CUSTOMIZATION OPTIONS 220
13.4 RELATED REPORTS 220
13.5 AUTHOR DETAILS 221