The cardiac biomarkers market will generate a value of USD 20,718.8 million by 2030, powering at a compound annual growth rate of 10.5% by the end of this decade. This is because of the growing incidence of ACS, tech progressions in cardiac biomarkers, increasing demand for point-of-care testing kits, and requirement for high specificity in the recognition of cardiac disorders, chiefly myocardial infarction.
Troponin had the major revenue share of, more than 35%, in the recent past, and this will grow at a considerable rate by the end of this decade as well. This is because of the extraordinary specificity and capacity of their protein complex to support cardiac problems, for example ACS, more precisely .Moreover, the high occurrence of myocardial infarction will power the industry, as troponin is the most-common tool for detecting this condition. Also, the myocardial muscle creatine kinase category will power significantly followed by troponin, in the years to come.
Laboratory testing had the larger revenue share, of about 60%, and this category will maintain its position by the end of this decade as well. This is because of the increase in the healthcare expenditure and the reform count for healthcare infra improvement, increase in the disposable income, and the private and government sectors’ initiatives heading for averting heart diseases. The point-of-care testing category will power at a higher rate in the years to come, for the reason that doctors are progressively accepting this method to monitor patients with chest pain in critical care centers.
Myocardial infarction had the largest contributor, with about 3 billion, in 2021, and this will dominate the industry by the end of this decade. This is because of its increasing incidence due to the unhealthy food, changing lifestyles, excessive smoking, and coronary artery disease. Also, the increase in the demand for biomarker tests for the early detection of heart failure is the main factor will boost the growth of the cardiac biomarkers market in the future.
The North America industry had the largest revenue share, of more than 35%, in 2021. The dominance is because of the increasing use of biomarkers for precision medicine, diverse growth strategies realized by players of the industry, and snowballing acceptance of biomarkers detecting cardiac diseases. The U.S is a major revenue contributor in North America as it is the base for numerous market players and has a high R&D spending on the healthcare industry.
There has been an increase in the number of people who are suffering with acute coronary syndrome, and because of this the demand for cardiac biomarkers will continue to grow in the years to come.
SOURCE: P&S Intelligence
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