Globe Newswire

Cardiac Marker Testing Market Surges to USD 8.69 Billion by 2031, Propelled by 8.8% CAGR – Verified Market Research®

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The cardiac marker testing market is driven by the rising prevalence of cardiovascular diseases, increasing awareness of early diagnosis, and advancements in testing technologies. Growing healthcare expenditure and the aging population further bolster market growth. However, restraints include the high cost of advanced testing, stringent regulatory frameworks, and limited access to healthcare in low-income regions. Additionally, variability in test results and a lack of skilled professionals can hinder market expansion.

Lewes, Delaware, June 25, 2024 – The Global Cardiac Marker Testing Market is projected to grow at a CAGR of 8.8% from 2024 to 2031, according to a new report published by Verified Market Research®. The report reveals that the market was valued at USD 4.42 Billion in 2023 and is expected to reach USD 8.69 Billion by the end of the forecast period.

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Browse in-depth TOC onGlobal Cardiac Marker Testing Market

202 – Pages

126 – Tables

37 – Figures

Scope Of The Report

REPORT ATTRIBUTES DETAILS
STUDY PERIOD 2018-2031
GROWTH RATE CAGR of ~8.8% from 2024 to 2031
BASE YEAR FOR VALUATION 2023
HISTORICAL PERIOD 2018-2022
FORECAST PERIOD 2024-2031
QUANTITATIVE UNITS Value in USD Billion
REPORT COVERAGE Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis
SEGMENTS COVERED
  • Product
  • Biomarker Type
  • Application
REGIONS COVERED
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
KEY PLAYERS Abbott Laboratories, Hoffmann-La Roche Ltd., Siemens Healthineers AG, Danaher Corporation, Ortho-Clinical Diagnostics, Beckman Coulter Inc., bioMérieux SA, Koninklijke Philips N.V., Trinity Biotech plc, Mercadia BioSciences Inc., LSI Medience Co., Ltd., Mindray Medical International Limited, Shenzhen Mindray Bio-Medical Electronics Co., EKF Diagnostics Holdings plc, DiaSorin S.p.A., Hytest Limited, Stanbio Laboratory LLC, Streck, & Thermo Fisher Scientific Inc.
CUSTOMIZATION Report customization along with purchase available upon request

Cardiac Marker Testing Market Overview

Rising Prevalence of Cardiovascular Diseases: The cardiac marker testing market is propelled by the global rise in the prevalence of cardiovascular diseases. The market is experiencing growth as the prevalence of heart-related conditions increases, which is fueled by the increasing demand for precise and timely diagnostic instruments. This is a critical factor for market expansion, as healthcare providers are progressively incorporating cardiac marker tests to enhance patient outcomes.

Technological Advancements in Testing: The cardiac marker testing market is substantially affected by advancements in testing technologies. The reliability and efficiency of cardiac marker tests have been improved by the development of multiplex testing capabilities, quicker results, and enhanced accuracy. These developments not only enhance diagnostic confidence but also encourage additional healthcare facilities to invest in these innovative solutions, thereby broadening the market.

Growing Healthcare Expenditure: The cardiac marker testing market is bolstered by the increasing expenditure on healthcare, particularly in developed regions. Better access to advanced testing methods is guaranteed by increased investment in healthcare infrastructure and diagnostic instruments. This trend enables the broader adoption of cardiac marker tests, thereby fostering market growth and creating new opportunities for industry actors.

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High Cost of Advanced Testing: The cardiac marker testing market is confronted with obstacles as a result of the exorbitant costs associated with sophisticated diagnostic tests. In developing regions, these costs can be prohibitive for many healthcare providers, thereby restricting market penetration. Consequently, in order to surmount this obstacle, organizations must concentrate on pricing strategies and cost-effective solutions.

Stringent Regulatory Frameworks: The cardiac marker testing market is significantly restricted by stringent regulatory requirements. The approval procedure for new tests can be complex and lengthy, resulting in increased development costs and a delay in market entry. In order to guarantee compliance with these regulations, companies must exercise caution, as it may affect their profitability and time-to-market.

Limited Access to Healthcare: The growth of the cardiac marker testing market is impeded by the limited access to healthcare facilities and diagnostic services in numerous low-income and remote areas. The widespread adoption of cardiac marker tests is restricted by this disparity, as patients in these regions frequently lack the requisite resources for timely diagnosis and treatment. It is imperative to resolve this obstacle in order to facilitate market expansion.

Geographic Dominance:

The advanced healthcare infrastructure, high healthcare expenditure, and significant presence of key market participants in North America have resulted in a dominant position in the cardiac marker testing market. The market is further stimulated by the region’s emphasis on preventive healthcare and early diagnosis. Furthermore, North America’s prominence is bolstered by its favorable reimbursement policies and robust research and development initiatives. Nevertheless, the Asia-Pacific region’s emerging markets are rapidly catching up as a result of the increasing awareness and the improvement of healthcare facilities.

Cardiac Marker Testing Market Key Players Shaping the Future

Major players, including Abbott Laboratories, Hoffmann-La Roche Ltd., Siemens Healthineers AG, Danaher Corporation, Ortho-Clinical Diagnostics, Beckman Coulter Inc., bioMérieux SA, Koninklijke Philips N.V., Trinity Biotech plc, Mercadia BioSciences Inc., LSI Medience Co., Ltd., Mindray Medical International Limited, Shenzhen Mindray Bio-Medical Electronics Co., EKF Diagnostics Holdings plc, DiaSorin S.p.A., Hytest Limited, Stanbio Laboratory LLC, Streck, & Thermo Fisher Scientific Inc. and more, play a pivotal role in shaping the future of the Cardiac Marker Testing Market. Financial statements, product benchmarking, and SWOT analysis provide valuable insights into the industry’s key players.

Cardiac Marker Testing Market Segment Analysis

Based on the research, Verified Market Research® has segmented the global Cardiac Marker Testing Market into Product, Biomarker Type, Application, And Geography.

  • Cardiac Marker Testing Market, by Product
    • Reagents & Kits
    • Instruments
  • Cardiac Marker Testing Market, by Biomarker Type
    • Troponin I and T
    • Creatine Kinase-MB (CK-MB)
    • Natriuretic Peptide
    • Myoglobin
    • High-Sensitivity C-Reactive Protein
    • Other Cardiac Biomarkers
  • Cardiac Marker Testing Market, by Application
    • Laboratory Testing Facilities
    • Point-of-Care Testing Facilities
    • Academic Institutions
  • Cardiac Marker Testing Market, by Geography
    • North America
      • U.S
      • Canada
      • Mexico
    • Europe
      • Germany
      • France
      • U.K
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • Rest of Asia Pacific
    • ROW
      • Middle East & Africa
      • Latin America

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