Cardiac Biomarkers Market Growth & Trends
The global cardiac biomarkers market size is expected to reach USD 47.88 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 14.7% from 2022 to 2030. The increasing prevalence of acute coronary syndrome (ACS), along with advancements in biomarker technologies, is expected to propel market growth. The rising awareness regarding early diagnosis and prognosis of cardiac diseases is expected to further drive the market.
According to the NCBI, in 2021, in the U.S., over 15.5 million people were affected by coronary heart disease. Chest pain is one of the most common reasons for emergency department visits. Heart disease is one of the major causes of death in the U.S. and it is estimated that a person has a heart attack every 41 seconds. Cardiac biomarkers play a significant role in ACS diagnosis and facilitate faster treatment decision-making, thereby making them crucial.
The improving adoption of biomarkers in risk stratification and diagnosis of the acute coronary syndrome is impelling the demand. An unhealthy lifestyle is driving the prevalence of acute coronary syndrome and myocardial infarction. The increasing adoption of PoC diagnostics is driving segment innovation, making use of cardiac markers easier. The paradigm shift in the adoption of cardiac biomarkers in hospitals and PoC settings can be attributed to the recent developments in assays pertaining to the sensitivity of cardiac troponin I and cardiac troponin T.
Moreover, the rise in the availability of novel assays is one of the major drivers anticipated to boost market growth in the upcoming years. This is driving the movement of new players in the segment. For instance, in May 2021, Shenzhen Mindray Bio-Medical Electronics announced its plan to acquire HyTest, which is involved in cardiac biomarkers sales, for USD 661 million. In-house production of raw materials is becoming an area of prime focus for companies to ensure a steady flow of raw materials.
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Cardiac Biomarkers Market Report
Repoort Attribute Details
Market size value in 2022 — USD 16.05 billion
Revenue forecast in 2030 — USD 47.88 billion
Growth rate — CAGR of 14.7% from 2022 to 2030
Base year for estimation — 2021
Historical data — 2018–2020
Forecast period — 2022–2030
Cardiac Biomarkers Market Report Highlights
- By type, the troponin segment held the largest revenue share in 2021 owing to its high usage in cardiovascular diseases diagnosis
- Based on application, the acute coronary syndrome segment is expected to grow at a lucrative rate during the forecast period due to the increasing prevalence of coronary diseases and expanding applications of these biomarkers in the diagnosis and treatment of diseases
- North America dominated the global market in 2021 owing to the presence of a developed healthcare system that facilitates easier adoption of cardiac biomarkers as a tool for diagnosis and prognosis
- Asia Pacific is expected to grow at a significant rate during the forecast period. This can be attributed to the presence of a wide target population and leading companies that are making R&D investments in countries such as China and Japan
