Bnp and Ntprobnp Market to Reach $3.4 Billion, Globally, by 2031 at 12.2% CAGR: Allied Market Research

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Mar 14, 2023, 11:00 ET

PORTLAND, Ore., March 14, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Bnp and Ntprobnp Market by Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome (ACS), Others), by Location of Testing (Point of Care Testing, Laboratory Testing): Global Opportunity Analysis and Industry Forecast, 2021- 2031". According to the report, the global Bnp and Ntprobnp industry generated $1.1 billion in 2021, and is anticipated to generate $3.4 billion by 2031, witnessing a CAGR of 12.2% from 2022 to 2031.

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Prime determinants of growth

The high potential in emerging markets, such as India and Japan, due to the availability of improved healthcare infrastructure, increase in unmet healthcare needs, rise in the prevalence of heart-related diseases, and rise in awareness about BNP and NTproBNP biomarkers testing drives the growth of the global bnp and ntprobnp market. However, the stringent government regulations regarding biomarkers testing restrict the market growth. Moreover, growth & innovations in the medical devices industry for the manufacturing of advanced diagnostic and biomarker testing, owing to a massive pool of health-conscious consumers, presents new opportunities in the coming years.

Impact of Covid-19 on Bnp and Ntprobnp Market:

The outbreak of the Covid-19 pandemic had a negative impact on the global bnp and ntprobnp market, owing to severe disruptions in workflows of the healthcare sector around the world during the lockdown.
The global BNP and NTproBNP market share experienced a decline in 2020, due to the global economic recession led by COVID-19.
In addition, the COVID-19 outbreak disrupted the supply chain and delayed diagnostic testing using BNP and NTproBNP biomarkers.
However, COVID-19 was itself potentially associated with myocardial injury, arrhythmia, and venous and arterial thrombosis. It was therefore essential to optimize the diagnosis and management of cardiac disease, which eventually increased the use of point-of-care BNP and NT-proBNP testing.

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The myocardial infarction segment to maintain its leadership status throughout the forecast period

Based on application, the myocardial infarction segment held the highest market share in 2021, accounting for more than one-third of the global bnp and ntprobnp market, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 12.8% from 2022 to 2031. This is due to rise in the number of cases of myocardial infarction, and the adoption of early diagnosis for prompt treatment which can help prevent further damage to the heart and increase the chances of survival.

The point-of-care testing segment to maintain its leadership status throughout the forecast period

Based on location of testing, the point-of-care testing segment held the highest market share in 2021, accounting for nearly three-fifths of the global bnp and ntprobnp market, and is estimated to maintain its leadership status throughout the forecast period. This segment is projected to manifest the highest CAGR of 12.4% from 2022 to 2031. This is attributed to improved diagnosis and treatment of heart failure, increased patient convenience, better resource utilization, improved clinical decision-making, and growth in demand for cardiac biomarker testing through point-of-care testing.

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Asia-Pacific to maintain its dominance by 2031

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for more than one-third of the global bnp and ntprobnp market, and is likely to dominate the market during the forecast period. This region is expected to witness the fastest CAGR of 13.5% from 2022 to 2031. This is owing to the strong presence of several major players, such as Abbott PerkinElmer Inc., and Siemens AG, and technological advancement in diagnostic methods in the region.

Leading Market Players:

Scripps Laboratories
Abbott Laboratories
Danaher Corporation
Gentian Diagnostics ASA
Siemens AG
PerkinElmer Inc.
Biomerieux SA
Quidel Corporation
Bio-Rad Laboratories Inc.
F Hoffman La Roche Ltd.

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