Cardiac Biomarkers Market to Reach USD 26.33 billion by 2027; Rising Cases of Cardiac Diseases to Lighten Growth Prospects

The global cardiacbiomarkers market size is expected to reach USD 26.33 billion by 2027, exhibiting a CAGR of11.2% during the forecast period. The growing incidence of critical cardiacconditions, including myocardial infarction, heart attack, and acute coronarysyndrome (ACS) will subsequently inflate demand for cardiac biomarkers in the forthcoming years, mentioned ina report, titled “Cardiac Biomarkers Market Size, Share& Industry Analysis, By Indication (Myocardial Infarction, Congestive HeartFailure, Acute Coronary Syndrome, and Others), By Biomarker (Troponin, Creatinekinase-MB (CK-MB), B-type Natriuretic Peptide (BNP), Myoglobin, and Others), ByEndUser (Hospitals, and Specialty Clinics), and Regional Forecast, 2020-2027” the marketsize stood at USD 13.15 billionin 2019. The increasing prevalence of cardiovascular diseases will spuropportunities for the market during the forecast period.

An Overview of the Impact of COVID-19 on this Market:

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Market Driver:

CardiovascularInterventions to Promote BiomarkersAdoption

The increasing R&D investments by key players for the introduction ofrobust andnovel cardiac biomarkers to benefitpatients in diagnosis, prognosis and predictive analysis of cardiovasculardisorders will enable speedy expansionof the market. The innovation in clinical cardiology and cardiovascularinterventions can be an essential factor in fostering the growth of the market.Moreover, the increasing product launches by key players will augur well forthe market in the forthcoming years. For instance, In July 2018, Siemensannounced that it has received the U.S. Food and Drug Administration (FDA)approval for high-sensitivity troponin I assays (TnIH). The test will bebeneficial in the early diagnosis of myocardial infarctions without the need for serial tropic testing.Similarly, in September2019, Abbott unveiled ARCHITECT STAT High Sensitivity Troponin-I blood testafter receiving the approval from the U.S. Food and Drug Administration (FDA)approval. The testwill help in detecting heart attacks in real-time, and moreaccurately than contemporary troponin tests.

MarketRestraint:

Shortageof POC Testing Kits to Restrict Revenue Proliferation

Theunavailability of POC testing kits and delayed test results of thelaboratory-based tests will consequently restrict the growth of the market. Thelonger time periodrequired to obtain results from lab-based biomarker testswill dwindle the acceptance of biomarkers in the forthcoming years.Forinstance, creatine kinase-MB (CK-MB), a form of enzyme found in heartmuscle cells can only be detected in a patient with a heart attack in about 3-6hours after the onset of chest pain. Thus, the great deal of time required forevaluation or diagnosisofheart disease will restrict the market growth. Inaddition, the lack of awareness regarding cardiac biomarkers tests amongpatient population, and limited reimbursement for tests in the developingcountries will obstruct the market.

RegionalAnalysis:

IncreasingPrevalence of Cardiovascular Diseases to Propel Market in North America

Themarket in North America stood at USD 5.23 billion in 2019. North America isexpected to the largest market share during the forecast period owing to therising prevalence of cardiovascular diseases. For instance, as per the AmericanCollege of Cardiology Foundation around about 1.05 million patients weresuffering from coronary disorders in the United States in 2019. Europe ispredicted to witness a high growth rate between 2020 to 2027 due to risingcases of acute coronary syndrome and myocardial infarction. Asia Pacific islikely to grow rapidly during the forecast period owing to the large patientpopulation in the region. Moreover, the introduction of technologicallyadvanced cardiac biomarkers will boost cardiac biomarkers market growth in AsiaPacific.

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