Cardiac Biomarkers Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $2,085.9 million by 2020, registering a CAGR of 18.9% during the period 2015-2020. 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 biological 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 regions such as India, China is 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 life saving benefits of these multi-assay biomarkers would foster the revenue generation process as well as market penetration of novel cardiac biomarkers in the future.
Key findings of Cardiac Biomarkers Market:
- Troponin segment is projected as a leading market segment throughout the forecast period
- Revenue of myocardial infarction application segment is expected to grow almost threefold by 2020
- Laboratory location of testing market segment still dominates the global market
- Point of care location of testing segment is projected to grow at a CAGR of 22% during the forecast period
- Countries like India and China holds prominent potential owing to higher count of undiagnosed cardiac patients
The principal strategy adopted by the leading players in the market is the product launch. The key companies profiled in the report are Abbott laboratories, Alere Inc., Siemens Healthcare, Roche Diagnostics Corporation, Beckman Coulter, Becton, Dickinson and Company, Thermo Fisher Scientific, BioMerieux, Bio-Rad Laboratories and Randox laboratories.