Cardiac Biomarker Market is Expected to Reach $2,085.9 Million by 2020

Aug 04, 2015, 08:43 ET from Allied Market Research

PORTLAND, Oregon, August 4, 2015 /PRNewswire/ --

According to a new report published by Allied Market Research, titled, "World Cardiac Biomarker - Market Opportunities, and Forecast, 2014-2020", the global cardiac biomarker market would generate the revenue of $2,085.9 million by 2020, registering a CAGR of 18.9% from 2015 to 2020. Cardiac Troponins (T, I) would continue to dominate the market throughout the forecast period due to high sensitivity and specificity.

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Cardiac biomarkers are protein-based traceable substances used as an indicator of biologic state for diagnostic and prognostic purposes associated with cardiac conditions. Commercialization of highly advanced and accurate type of cardiac biomarkers has provided a novel platform for diagnosis of cardiac diseases. Continuous focus on pipeline research and developments from leading players and increased patient awareness across untapped region such as India, China are largely driving the growth of cardiac biomarkers market. The growing application of cardiac biomarkers as point of care (POC) testing facilitate quick results in chronic conditions, thus drives the market growth. However, specificity and sensitivity related concerns of single measurement cardiac biomarkers, premium pricing and certain government regulations would hinder the market growth. Also, the overall market growth would bank on novel progress made in cardiac treatments using multi-assay biomarkers. The lifesaving benefits of these multi-assay biomarkers would foster the revenue generation process as well as market penetration of novel cardiac biomarkers in future.

To view the report, visit the website at https://www.alliedmarketresearch.com/cardiac-biomarkers-market

North America would continue to lead the market owing to high awareness, and favorable healthcare reimbursement policies. In addition, Asia Pacific would emerge as one of the most lucrative regions and would closely follow Europe in terms of revenue. Prime factor fuelling the growth of Asia Pacific region include, presence of large number of undiagnosed cardiac patient, rapid urbanization, rising disposable income, and growing awareness about cardiac disease management programs i.e. quick cardiac checkup (QCC).

Key findings of the study: 

  • Troponin segment is projected as a leading market segment throughout the forecast period
  • Revenue of myocardial infarction application segment is expected to grow almost three fold by 2020
  • Laboratory location of testing market segment still dominates the global market
  • Point of care location of testing segment is projected to grow at a CAGR of 22% during the forecast period
  • Countries like India and China holds prominent potential owing to higher count of undiagnosed cardiac patients

The principal strategy adopted by the leading players in the market is the product launch. The key companies profiled in the report are Abbott laboratories, Alere Inc., Siemens Healthcare, Roche Diagnostics Corporation, Beckman Coulter, Becton, Dickinson and Company, Thermo Fisher Scientific, BioMerieux, Bio-Rad Laboratories and Randox laboratories.

Similar market studies by Allied Market Research -

Biomarkers Market - Biomarkers are novel diagnostic tools that provide intelligence to physician about disease progression and treatment effects. Advancement in understanding of human genome promotes its application in diagnosis of disease on molecular basis. Biomarker technology is evidencing increased application in disease diagnosis, drug development and formulation, diagnosis for exposure of certain harmful chemical and prognostic treatments. The global market for diagnostic biomarker is expected to reach about $30.6 billion in 2020, growing at CAGR of 16% from 2013 to 2020. Pharmaceutical companies, which are interested in introducing novel diagnostic solution are increasing partnership and collaboration with private laboratories, and educational institutes. The companies are also increasing their investments in research and development.

To view the report, visit the website at https://www.alliedmarketresearch.com/biomarkers-market

Renal Biomarkers Market - Renal biomarkers help diagnose or identify the patients at risk of developing kidney diseases, by measuring their blood or urine levels. They are commonly released in acute or chronic kidney injuries, which are characterized by the rapid or gradual loss of kidney function resulting into serous clinical implications. There is an impending need for specific and sensitive biomarkers that can identify kidney diseases at the earliest. The early identification helps to take timely preventive steps, before the damage becomes irreversible. The major factors fuelling the global renal biomarkers market are; increased incidence of kidney diseases, large geriatric population and increasing prevalence of multiple co-morbidities. The market would also gain prominence due to rising incidences of chronic diseases such as diabetes, obesity and hypertension, as these diseases are often associated with the gradual loss of kidney function. Furthermore, increasing investments in research and development will further drive the market, as renal biomarkers are widely used in preclinical and clinical trials, to assess the safety of new drugs. However, lack of transparent reimbursement and regulatory scenario, especially, in the developing countries, is likely to restrain the market.

To view the report, visit the website at https://www.alliedmarketresearch.com/renal-biomarkers-market

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SOURCE Allied Market Research