Cardiac Marker Testing Market size is estimated at $3.8 billion in 2020, projected to grow at a CAGR of 9.1% during the forecast period 2021-2026. Cardiac markers include enzymes, hormones, and proteins of various forms, such as cardiac troponins, creatine kinase (CK), albumin modified by ischemia (IMA), and myoglobin. The measurement of these biomarkers helps to diagnose different heart syndromes, such as acute coronary syndrome, cardiac ischemia, and blocked blood flow to the heart. In hemolytic anaemia, creatine kinase, stroke, pancreatitis, ischemic cardiomyopathy, and a number of other diseases, LDH (lactate dehydrogenase) is an unspecific marker for myocardial/ infarction and its concentration may be elevated. Cardiac markers are used to treat and stratify risk in patients with chest pain and presumed coronary acute syndrome (ACS). Generally, physicians perform multiple cardiac marker tests over several hours to keep track of the rise in blood levels and to understand the severity of a heart attack. As cardiac marker testing provides greater specificity and can identify the conditions in the early stages of presentation like troponins, they are gaining momentum throughout the world. These markers can also help to track the prognosis of these conditions more effectively and to provide patients with the most appropriate care with the help of natriuretic peptides. According to WHO, around 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. The cardiac marker testing industry is driven by increasing cardiovascular disease prevalence, increasing ageing population, increasing clinical trials for the identification of cardiac biomarkers and increasing funding from public-private organisations for cardiac biomarker research.
Cardiac Marker Segment Analysis - By Component
Based on Component, Cardiac Marker Testing Market is segmented into CK-MB, Troponin I & T, Myoglobin, hsCRP, IMA and BNP. Troponin I & T accounted for the largest revenue market share in 2020 owing to its prodigious specificity and its ability to reliably diagnose acute coronary syndrome, MI, and other heart injury cardiac events impact the segment growth. A troponin test measures the levels in the blood of the proteins troponin T or troponin I. When the heart muscle has been weakened, these proteins are released, as happens with a heart attack. The more harm to the heart there is, the higher the volume in the blood of troponin T and I. In addition, segment growth can also be attributed towards high sensitivity and specificity, long elevation times and rapid prediction of mortality driving the Cardiac Marker Testing Industry. IMA segment is anticipated to grow with the fastest CAGR of 6.3% in the forecast period 2021-2026 as it increases sensitivity and negative predictive value when used in conjunction with normal cardiac biomarkers for the diagnosis of myocardial ischemia. Moreover, whole-genome sequencing of cancer patients helps to identify therapies for existing mutations and also helps to target mutations ahead of time. In patients who experience chest pain and ST segment alterations during PCI, IMA is a more consistent predictor of ischemia than iP aiding to the Cardiac Marker Testing Market growth.
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Cardiac Marker Segment Analysis - By Disease Type
Based on Disease Type, Cardiac Marker Testing Market is segmented into Congestive Heart Failure, Myocardial Infarction and Atheresclerosis. Myocardial Infarction accounted for the largest revenue market share in 2020 owing to its high prevalence rate as compared to all other cardiovascular diseases (CVDs). According to AHA info, recent estimates of the incidence of MI in the USA are around 5,25,000. Data comparing and contrasting the incidence of myocardial infarction in white men and women versus black men and women was documented in the Mozaffarian Analysis. In addition, MI is among the world's leading causes of mortality and morbidity. Hence, for early diagnosis of MI, many patients use cardiac biomarkers. In the United States, approximately 1.5 million cases of myocardial infarction (MI) occur annually; the annual rate of occurrence is approximately 600 cases per 100,000 persons. The proportion of patients diagnosed with non–ST-elevation MI (NSTEMI) compared with STEMI has increased driving the segment rise. Congestive Heart Failure segment is anticipated to grow with the fastest CAGR of 7.1% during the forecast period 2021-2026 owing to increase in demand for biomarker tests for early detection of heart failure. Approximately 6.2 million people in the United States have cardiac failure, according to the CDC. Patients with congestive heart failure have a high risk of sudden cardiac death that is due to ventricular arrhythmias. The mortality rate is approximately 40% per year in a population of patients with Class III and IV heart failure, and half of the deaths are immediate thus enhancing the Cardiac Marker Testing Market.
Cardiac Marker Segment Analysis - By Geography
Based on Geography, North America Cardiac Marker Testing Market accounted for the 36% revenue share in 2020. This rise is accounted for by substantial efforts made by regulatory bodies to boost cancer screening detection in the U.S. The regional development is also owing towards the increasing incidence of cardiovascular diseases, growing public and private investments, NIH support for the development of novel cardiac biomarkers, and the rising geriatric population. In addition, market growth is strongly driven by the presence of key players in the area, including Abiomed and Abbott. In addition, approximately 805,000 Americans have a heart attack and about 655,000 Americans die each year from heart disease, according to the Centers for Disease Control and Prevention-1 that's in every 4 fatalities drive the regional growth. Asia-Pacific is predicted to be the fastest growing region during the forecast period 2021- 2026 owing to rise in affordability for advanced cardiac treatments thereby aiding to regional growth. In addition, increased interest in the production of novel biomarkers by research-based pharmaceutical companies and a rise in the number of patients suffering from cardiovascular diseases are expected to boost market growth in the Asia-Pacific region.
Cardiac Marker Testing Market Drivers
Increasing Prevalence of Cardiovascular Diseases:
Increase in the prevalence of lifestyle disorders like hypertension, obesity, dyslipidemia, and diabetes, which are major risk factors for CVD. According to the WHO, more than 1.9 billion adults worldwide were overweight in 2016; more than 600 million of these were obese. By 2030, ~41% of the world's population is projected to be overweight or obese driving the Cardiac Marker Testing Industry. Researchers published the correlation between obesity and the risk of coronary heart disease through a meta-analysis of 21 long-term studies of more than 300,000 participants conducted by them. It was found that overweight participants had a 32% higher risk of developing (CAD) and obese participants had an 81% higher risk compared to average weight participants demonstrating a significant effect on the need for the Cardiac Marker Testing Market. In addition, 121.5 million Americans had some form of cardiovascular disease between 2013 and 2016, according to the American Heart Association, and the direct and indirect costs of overall cardiovascular disease and stroke were around $351.3 billion between 2014 and 2015 driving the market's growth.
Increasing Demand For Point-of-care Testing (POCT) Likely To Lead To Market Growth:
Owing to the globally growing number of cardiovascular disease patients in emergency departments (EDs) requiring urgent disease diagnosis, the demand for point-of-care testing (POCT) tests has increased significantly. Due to the benefits it provides, the adoption of POCT with cardiac biomarkers is increasing in cardiovascular disease diagnostic procedures around the globe. These include shortened stay lengths, improved productivity of the emergency department, enhanced patient satisfaction and customer experience, faster processing times, and easier selection of samples. Moreover, advancements in the field of Troponin I & T, Myoglobin further act as a driving factor for the growth of the market.
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Cardiac Marker Testing Market Challenges
Regulatory Concerns With Major Technical Problems Related To Sample Collection And Storage:
Regulatory concerns regarding usage of Cardiac Marker Testing Analysis and growing stringent government policy and regulation towards the quantity of service being used in application is restraining growth of the market. Many research in epidemiology use cardiac biomarkers to examine the various stages of human diseases. In order to obtain a significant amount of information from small samples and reduce potential research costs with the use of banked samples, it requires careful handling and storage of precious biological samples. Thus, sample selection, accompanied by access to these samples, is one of the main problems faced by service providers. Similarly, for these samples, strict quality control is also required, and they need to be stored under the correct conditions to prevent any loss. For risk identification, screening, diagnosis, and monitoring processes, different samples are also needed negatively impacting the growth.
Cardiac Marker Testing Market Landscape
Product launches, mergers and acquisitions, joint ventures and geographical expansions are key strategies adopted by players in the Cardiac Marker Testing Market. Cardiac Marker Testing Market top 10 companies are Thermo Fisher Scientific Inc., Tosoh Corporation., Siemens Healthineers AG, Abbott Laboratories, Bio-Rad Laboratories, Inc., DiaSorin S.p.A., Becton Dickinson and Company, PerkinElmer Inc., Randox laboratories Ltd. and Guangzhou Wondfo Biotech Co., Ltd.
Acquisitions/Product Launches
In September, 2020, PerkinElmer Inc., a global leader dedicated to innovating for a healthier environment, launched the DA 7350TM instrument and Process PlusTM cloud-based software, to provide continuous quality control for food and food ingredient manufacturing processes. The new solution is designed to allow food producers to increase production and yield and improve margins by minimising waste, maximising the use of costly raw materials and improving the quality of goods.
Key Takeaways
The increasing support from public and private organizations for research on cardiac biomarkers and ongoing clinical trials to identify novel cardiac biomarkers are likely to contribute to the growth of the Cardiac Marker Testing industry.
Geographically, North America Cardiac Marker Testing Market held the largest revenue share of 36% in 2020 owing to an increased healthcare spending by a larger population base, healthcare infrastructure modernization, and the rising penetration of cutting-edge clinical laboratory technologies in this region.
Growing awareness of the importance of early diagnosis and increasing the need to avoid cardiac diseases such as heart failure, heart attack, ACS, and others fuel the market growth.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market is provided in the Cardiac Marker Testing Market.
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