NEW YORK, Oct. 14, 2015 /PRNewswire/ --
Analysis of the Cardiac Biomarker Diagnostics Market
The overall US cardiac biomarker diagnostic market stands at $ million in 2014 and is predicted to grow to $ million by 2021 at a compound annual growth rate (CAGR) of %.
- The increasing adoption of point-of-care tests (POCTs) in the United States makes this segment the fastest growing, where it holds close to % of the cardiac biomarker market.
- There is an increasing number of publications discussing the importance of POCT in improving patient outcomes. This is spurring adoption rate at a clinical and ambulatory level.
- The POCT market for cardiac biomarkers is spurring the growth in this region.
- With the implementation of Affordable Care Act (ACA), there is a shift toward value-based care. This is increasing pressure on manufacturers to produce more cost efficient and efficient devices for consumers, especially in the hospital sector.
- Manufacturers are seeing the value of integrated and wholesome platform solutions in this emerging value-based system.
- Device companies like Medtronic are entering the cardiac space to provide telehealth solutions to patients. Siemens and Roche have a unique advantage due to their strong affiliation with their medical devices and pharmaceutical wings, respectively.
- Companies with different diagnostic wings have a unique advantage, as they can offer a more integrated solution to diagnose a patient.
- Still in the early stages, the cardiovascular segment has tremendous potential for personalized medicine. There is a movement toward this space similar to other fields, like oncology.
- In the future, heart failure therapy is going to utilize a combination of multiple markers for risk assessment and diagnosis. Many of these biomarker tests are going to combine into a panel test rather than compete individually.
- Products with a narrow therapeutic index, which can be dangerous either over- or underdosing, have a higher profitability capacity to develop companion diagnostic tests to determine sensitivity to the product.
- Companion diagnostics is a major opportunity for manufacturers as cardiovascular disease holds only % of the overall companion diagnostics market space.
- Integrating digital apps enables manufacturers to understand consumer behavior but also provide differentiated products compared to competitors.
- Manufacturers can begin to offer consultations and services for biomarker testing and not be exclusive to providing lab solutions.
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