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.
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.
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).
The Key Players
|
NO. |
KEY PLAYERS |
|
1 |
Abbott |
|
2 |
Roche |
|
3 |
Beckman |
|
4 |
Thermo Fishe |
|
5 |
Dickinson |
|
6 |
Bio-Rad |
