May 14, 2020
As per the report titled ‘Global Cardiac Biomarker Diagnostic Kits Market Size study, by Product Type (Reagents and Kits, Instruments, Chemiluminescence, Immunofluorescence, Elisa and Immunochromatography), by Disease Indication (Angina pectoris, Myocardial infraction, Cardiac heart failure and others)by End User (Hospital, Diagnostic Center, clinic and Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global cardiac biomarker diagnostic kits market was worth USD 2.33 billion in 2019 and is predicted to register 5.4% CAGR over 2019-2026.
Cardiac biomarker diagnostic kits comprise of tools and instruments that are used to measure and evaluate heart functions. Early detection of heart disorders and capability to assess possible cures or treatment of cardiovascular diseases (CVD) are the key factors fueling the demand for these kits.
Rising prevalence of cardiovascular diseases across the globe coupled with increasing geriatric population who are at a higher risk of suffering from CVDs are driving the growth of global cardiac biomarker diagnostic kits.
According to the World Health Organization, cardiovascular diseases are estimated to be the leading cause of death throughout the globe, accounting for over 31% (17.9 million deaths) annually. It is further reckons that more than 75% of deaths caused by cardiovascular disease are in low and middle-income countries and over 85% of deaths are due to severe heart attacks and strokes. Rising disease burden along with growing consumer awareness towards early disease detection diagnostics will foster the industry growth for years to come. However, high cost of cardiac biomarker diagnostic kits in emerging economies may hinder the product adoption over the forecast period.
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As per the regional analysis, global cardiac biomarker diagnostic kits market is divided into North America, Asia Pacific, Europe, Latin America and Rest of the World, wherein North America holds a significant market share and is expected witness modest gains during the analysis period. The growth can be credited to rising disposable income and increasing investment in healthcare sector across the region.
On the hand, Asia Pacific cardiac biomarker diagnostic kits market is expected to see tremendous growth during the estimated timeframe, owing to the massive patient pool and growing elderly population base in the region.
Major players operating in global cardiac biomarker diagnostic kits market are Abbott Laboratories, Roche Diagnostics Limited, Siemens AG, Biomérieux SA, Danaher Corporation, Alere Inc., Ortho Clinical Diagnostics, LSI Medience Corporation, Guangzhou Wondfo Biotech Co., Ltd., and Randox Laboratories Ltd.