(MENAFN- America News Hour) In a recently published report, Cardiac Biomarkers Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Cardiac Biomarkers Market products.
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global cardiac biomarkers market to reach USD 4,957.1 million by 2025.Global cardiac biomarkers market is valued at approximately USD 1,241 million in 2017 and is anticipated to grow with a healthy growth rate of more than 18.9 % over the forecast period 2018-2025. Rising prevalence of cardiovascular diseases cost effective device, non-invasive method, accuracy in prediction, helpful in clinical trials, multi-application, increasing point of care application along with the technological advancements using cardiac biomarkers are some key trends that are responsible for the wide adoption of cardiac biomarkers globally.
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Global cardiac biomarker market is majorly driven by rising prevalence of cardiovascular diseases. Cardiovascular diseases such as circulatory diseases, heart attacks and strokes are the leading cause for the premature death across the world. Cardiovascular diseases are caused by rising stress level and work pressure, harmful use of alcohol, unhealthy diet, obesity, tobacco use, and physical inactivity and it is most popular in aging population. Thus, cardiovascular diseases are the major cause of death across the globe. According the World Health Organization (WHO), in 2015 around 17.7million people died from cardiovascular diseases, signifying 31 % of global deaths, out of these 7.4million died due to coronary heart disease and 6.7 million died due to stroke across the world. As a result, the demand & adoption of cardiac biomarker would increase thereby, aiding the growth of the market over the forecast period of 2018-2025. Key market challenge for the global cardiac biomarker market is approval clinical validity and utility of biomarkers- based tests. However, to overcome this challenge the market also has various opportunities such as point of care testing using cardiac biomarkers, future developments in novel cardiac biomarkers and demand of personalized medicine.
On the basis of segmentation, the cardiac biomarkers market is segmented into type, application and location of testing. The type segment of global Cardiac Biomarkers market is classified into creatine Kinase (CK-MB), Troponins (T.I), myoglobin, Natriuretic Peptides (BNP & NT-PROBNP), ischemia modified albumin, others. Based on application segment the global cardiac biomarkers market is classified into myocardial infarction, congestive heart failure, acute coronary syndrome, Atherosclerosis, other applications of which myocardial infarction holds the highest share in the global cardiac biomarkers market due to high prevalence of cardiovascular diseases. The location of testing segment includes point of care testing and laboratory testing of which point of care accounts for the fastest growing segment due to clinicians and doctors mainly use point of care cardiac testing for quick testing and monitoring patients who are having chest pain.
The regional analysis of cardiac biomarkers market is considered for the key regions such as North America, Europe, Asia Pacific, Latin America and ROW. North America have occupied major share in the global cardiac biomarkers market. The major reasons for the dominance of North America are high CVD prevalence rates, high demand for cardiac testing and rising awareness towards cardiac diagnostics solutions. Whereas, Asia-Pacific is expected to emerge as the fastest growing region in terms of market share. The growth of Asia-Pacific region is witnessed owing to rising affordability for the advanced cardiac treatments, modernization in the countries and increasing disposable income.
The leading market players include-
*Roche Diagnostics
*Abbott Laboratories,
*Siemens Healthcare,
*Alere Inc.,
*Becton, Dickinson and Company,
*Bio-Rad Laboratories,
*BioMerieux,
*Randox laboratories,
*Beckman Coulter
*Thermo Fisher Scientific
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Type:
*Myocardial muscle Creatine Kinase (CK-MB)
*Myoglobin
*Troponins (T and I)
*Ischemia Modified Albumin (IMA)
*Brain Natriuretic Peptide (BNPs) or NT-proBNP
*Others
By Application:
*Congestive Heart Failure
*Myocardial Infarction
*Atherosclerosis
*Acute Coronary Syndrome
*Others
By Location of testing:
*Laboratory testing
*Point of care testing
By Regions:
*North America
o U.S.
o Canada
*Europe
o UK
o Germany
o ROE
*Asia Pacific
o China
o India
o Japan
o ROAPEC
*LAMEA
o Brazil
o Mexico
*ROW
o Middle East & Africa
Furthermore, years considered for the study are as follows:
Historical year – 2015, 2016
Base year – 2017
Forecast period – 2018 to 2025
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Target Audience of the Global Cardiac Biomarkers Market in Market Study:
*Key Consulting Companies & Advisors
*Large, medium-sized, and small enterprises
*Venture capitalists
*Value-Added Resellers (VARs)
*Third-party knowledge providers
*Investment bankers
*Investors
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