Cardiac Biomarker Diagnostic Test Kits Market by Product Type (Brain Natriuretic Peptide (BNPs) Test Kits, Creatine Kinase MB (CK-MB) Test Kits, Troponin (I&T) Tests Kits, Myoglobin Test Kits), Indication (Angina Pectoris, Acute Myocardial Infarction, Congestive Heart Failure), End Users & Region for 2022-2028
Cardiac Biomarker Diagnostic Test Kits Market - Analysis, Outlook, Growth, Trends, Forecasts
- December 2021
- 239 pages
Cardiac Biomarker Diagnostic Test Kits Market Snapshot
[239 Pages Report] The global Cardiac Biomarker Diagnostic Test Kits Market is slated to top US$ 1.8 Bn by the end of 2022, estimates Future Market Insights (FMI). With growing prevalence of cardiac diseases, the overall market is projected to expand at 5.1% CAGR over the forecast period, from 2022 to 2028.
As per the study, sales of brain natriuretic peptide (BNPs) test kits is expected to contribute over half of demand in Cardiac Biomarker Diagnostic Test Kits Market. Demand for BNP test kits is expected to increase on the back of rising incidence of heart failure, coupled with increasing need for cardiac biomarkers to curb the growing burden of cardiovascular ailments.
Cardiac Biomarker Diagnostic Test Kits Market Size Value in 2021
US$ 1.8 Billion
Cardiac Biomarker Diagnostic Test Kits Market Size Value in 2028
US$ 2.5 Billion
North America Cardiac Biomarker Diagnostic Test Kits Market Value in 2021
US$ 522.5 Million
2022-2028 Cardiac biomarker diagnostic test kits Market Outlook in Comparison to 2013-2021 Growth
The global cardiac biomarker diagnostic test kits market is estimated to be valued at US$ 1.8 Bn in 2022, opines Future Market Insights. The overall demand for cardiac biomarker diagnostic test kits solutions is slated to rise at 5.1% CAGR between 2022 and 2028.
Increasing prevalence of cardiovascular diseases across the globe is the primary factor propelling the growth in the cardiac biomarker diagnostic test kits market. Growing rate of coronary heart disease, congestive heart failure, and angina pectoris is expected to fuel the demand for brain natriuretic peptide (BNP) test kits.
As per the study, sales of BNP test kits are expected to increase at 6.8% CAGR over the forecast period. Demand for BNP test kits are expected to increase at an exceptional rate on the back of rising incidence of congestive heart failure across the U.S., India, and China.
Hence, to curb the growing burden of such cardiovascular diseases, sales of cardiac biomarker diagnostic test kits are expected to reach more than US$ 2.5 Bn by the end of 2028.
How is Expansion of Healthcare Industry Affecting Cardiac Biomarker Diagnostic Test Kit Sales?
Following the outbreak of COVID-19, government across the globe are undertaking several initiatives to improve the healthcare infrastructure. Increasing healthcare expenditure, especially across emerging economies such as India, South Korea, and Japan have also increased the demand for advanced medical devices such as cardiac biomarkers diagnostic test kits.
For instance, as per India Brand Equity Foundation (IBEF), the Government of India approved continuation of ‘National Health Mission’ with a budget of US$ 5.10 billion under the Union Budget of 2021-22.
As per this policy, the government will supply advanced medical devices in rural areas for cardiology, neurology, and other diseases to reduce the global mortality burden. A slew of such initiatives across the globe is expected to create growth opportunities for the market.
Further, with such favorable government initiatives, health professionals and private organizations are introducing and establishing diagnostic laboratories, collaborating with leading players such as Abbot Laboratories and others to cater to the growing demand.
This is expected to increase the sales of cardiac biomarker diagnostics test kits across the globe.
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Cardiac Biomarker Diagnostic Test Kits Market - Country-wise Analysis
Will India Cardiac Biomarker Diagnostic Test Kits Market Emerge Lucrative in South Asia?
As per the study, sales of cardiac biomarker diagnostic test kits in India are projected to expand at a significant rate over the forecast period. Growth in the region is driven by rising prevalence of obesity in the country resulting in several cardiovascular diseases.
According to the World Health Organization, around 4.77 million people in India suffered from cardiovascular diseases and around 3.1% population suffered from angina pectoris due to obesity.
To curb the burden of growing disease, Government of India is undertaking various initiatives to increase the awareness in rural areas.
For instance, in June 2021, the government introduced funds and self-service healthcare ATMs in rural areas that provides medical testing for cardiology, neurology, and others.
Against this backdrop, several government and private healthcare institutes and diagnostic laboratories are adopting cardiac biomarkers diagnostic test kits to cater to the growing patient pool.
Why is the Demand for Cardiac Biomarker Diagnostic Test Kits Surging in the U.S.?
Chest pain is a common emergency department in the U.S. accounting for 8-10 million visits every year, as per the statistics of the Center for Disease Control and Prevention. Growing incidence of cardiovascular diseases and rising rate of obesity in the country is the primary factor driving the demand in the market.
According to World Health Organization, increasing population with obesity have a higher risk of developing cardiovascular diseases, which is creating growth opportunities for cardiac biomarker diagnostic test kits market in the U.S.
As per Future Market Insights, in terms of value, the U.S. market is expected to account for over 1/3rd of global market by the end of 2028.
How will Brazil Cardiac Biomarker Diagnostic Test Kits Market Fare?
FMI estimates, the market in Latin America is expected to witness sluggish growth through 2021 on the back of low awareness regarding the benefits of cardiac biomarker diagnostic test kits market.
However, with increasing prevalence of cardiovascular diseases in Brazil, demand for these diagnostic test kits are expected to burgeon over the years. As per WHO, mortality rate due to heart failure is increasing, accounting for over 15.60% of total deaths in the country.
In order to reduce the growing rate, government and healthcare organizations are undertaking preventive measures to educate the people regarding the benefits of these test kits. Hence, based on the aforementioned factors, demand for cardiac biomarker diagnostic test kits market in Brazil is expected to surge through 2028.
Cardiac Biomarker Diagnostic Test Kits Market - Category-wise Insights
Why are Brain Natriuretic Peptide (BNPs) Cardiac Biomarker Diagnostic Test Kits Highly Sought-After?
On the basis of product type, the BNP test kit segment is expected to hold lion’s share. As per the study, the segment is expected to account for over 50% of the global market share, with sales estimated to total US$ 682.9 Mn in 2022.
BNP test kits are mostly preferred for the detection of heart failure. With rising incidence of heart failure across the globe among baby boomers and millennials, demand for BNP test kits is expected to increase over the coming years.
On account of this, FMI estimates, sales of BNP test kits in cardiac biomarker diagnostic test kits market are projected to increase at nearly 6.8% CAGR over the forthcoming decade.
Will Rising Incidence of Angina Pectoris Propel the Sales in the Market?
Based on incidence, the angina pectoris segment is expected to be the most lucrative segment in terms of market share. Sales of cardiac biomarker diagnostic test kit due to angina pectoris will surge at over 3.6% CAGR by the end of 2028, estimates FMI.
Increasing prevalence of coronary heart disease have surged the cases of angina pectoris/chest pain, especially among geriatric population. As per World Health Organization, nearly 17 million succumbed to cardiovascular diseases in 2019. Out of which, around 20% were diagnosed with angina pectoris.
Also, with increasing consumption of unhealthy food products, cases of angina pectoris have burgeoned among millennials. Hence, in order to cater to the growing patient pool, demand for cardiac biomarker diagnostic test kits is expected to increase.
Why is Demand for Cardiac Biomarker Diagnostic Test Kits Surging in Diagnostic Laboratories?
As per Future Market Insights, in terms of end users, the diagnostic laboratories segment is expected to dominate the market. With growing prevalence of cardiovascular diseases, patient pool in diagnostic centers has surged over the years for the diagnosis of cardiovascular diseases.
Hence, demand for cardio biomarker diagnostic test kits is expected to increase within diagnostic laboratories. As per the study, revenue from the diagnostic laboratories segment is expected to reach US$ 997.4 Mn, with the segment exhibiting growth at 5.9% CAGR by the end of 2028.
Cardiac Biomarker Diagnostic Test Kits Market - Competitive Landscape
As per FMI, the global cardiac biomarker diagnostic test kit market is expected to be fragmented in nature. Top 6 players are expected to dominate the market, accounting for nearly 75% of total market share.
Leading players are focusing on strategic collaborations with universities and manufacturers to gain competitive edge. Some of the players are also introducing new products and investing heavily in research and development to develop advanced cardiac biomarkers to cater to growing demand.
- In April 2021, Roche announced the launch of a series of five new intended uses for two key cardiac biomarkers using the Elecsys® technology: high sensitive cardiac troponin T (cTnT-hs) and N-terminal pro-brain natriuretic peptide test (NT-proBNP). These biomarkers assist in supporting cardiovascular disease management and can help clinicians diagnose heart attacks to manage heart failure.
- In October 2021, Baxter International Inc., a global leader in acute care, joined hands with bioMérieux, a global leader in in vitro diagnostics, to launch the CE marking of the NEPHROCLEAR™ CCL14 Test.
Cardiac Biomarker Diagnostic Test Kits Market - Scope of Report
Cardiac Biomarker Diagnostic Test Kits Market Forecast Period
Cardiac Biomarker Diagnostic Test Kits Market Historical Data Available for
Cardiac Biomarker Diagnostic Test Kits Market Analysis
US$ Bn for Value
Key Regions Covered
North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan, Japan, and MEA
Cardiac Biomarker Diagnostic Test Kits Market Key Countries Covered
United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.
Key Market Segments Covered
Product Type, Indication, End User, and Region
Cardiac Biomarker Diagnostic Test Kits Market Key Companies Profiled
Available upon Request
Cardiac Biomarker Diagnostic Test Kits Market by Category
- Brain Natriuretic Peptide (BNPs) Test Kits
- Creatine Kinase MB (CK-MB) Test Kits
- Troponin (I&T) Tests Kits
- Myoglobin Test Kits
- Other test kits.
- Angina Pectoris
- Acute Myocardial Infarction
- Congestive Heart Failure
- Diagnostic Laboratories
- Outpatient Clinics
- Academic & Research Institutes
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan (APEJ)
- Middle East & Africa