Innovative Cardiac Reader Systems - Identifying the Preliminary CVD Risks
In the wake of alarming prevalence rate of cardiovascular diseases (CVDs), it has become imperative for the makers of cardiac reader systems to engineer devices that deliver on-the-spot, accurate diagnosis. The FMI study indicates cardiac markers experiencing impressive consumption within the drug development sector, particularly targeting better management of CVD progression, which is shaping adoption of cardiac reader systems landscape.Cardiac Reader System Market - Key Research Findings
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Cardiac reader system market size registered in 2018 – Nearly US$ 1,400 Mn.
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The cardiac reader system market is expected to observe a CAGR of More than 5% over 2019-2027.
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The WHO’s recent statistical data underscores the alarming prevalence of obesity, potentially increasing susceptibility to acquire cardiovascular diseases.
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More than 17 million people die every year due to CVDs, which is estimated to be 31% of all deaths across the globe.
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Around 1.9 billion adults are suffering from excess weight, of which over 65% are obese. This survey highlights that around 13% of the adult population worldwide, is suffering from obesity.
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North America will remain the high-growth regional market for cardiac reader systems.
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North America’s market for cardiac reader system will be spearheaded by the US owing to the presence of a large number of hospitals and diagnostic centres.
Europe will remain a significant market for cardiac reader systems manufacturers.
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In Europe, Germany and France are among the prominent countries with a large number of clinics and hospitals.
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The significant boost in sales of Chemiluminiscenece Immunoassay Analyzers (CLIA) is expected to boost the market for cardiac reader system.
Top 3 Factors Shaping the Cardiac Reader System Market
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High prevalence of CVDs to uplift demand for cardiac reader systems
The prevalence of CVDs is rising and the occurrence of heart failure is rapidly becoming a commonplace cause of death, recently. The current patient pool of cardiovascular diseases roughly equates 26 million, globally. In the US alone, the occurrence of myocardial infraction is around 3.3% and the incidence of angina pectoris is around 4.5%, which is estimated to rise over coming years. The subsequent rise in the rate of early detection is estimated to boost the sales of cardiac reader systems in the global market.
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Expanding geriatric patient population to drive adoption of cardiac reader systems
The geriatric population across the globe is expanding and according to the National Institutes of Health (NIH), about 8.5% of the global population was aged 65 years and above in 2016. By the end of 2050, this percentage is estimated to grow to about 17%. While aging people have been at a higher risk of acquiring CVDs such as myocardial infarction, heart failure, and angina pectoris, it is highly likely that the expansion of geriatric population will provide a direct impetus to the demand for cardiac reader systems.
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Obesity to boost cardiac reader system sales
With each sixth person being overweight, obesity has become a global health challenge since the past few decades. As per WHO’s findings, the global number of overweight people has doubled since the last two decades. The World Health Organization has also projected that 1.9 billion adults are suffering from excess weight. This survey also expects that about 13% of the world’s geriatric population is suffering from excess weight, which is another factor contributing to cardiac reader system sales.
Cardiac Reader System Market Structure Analysis
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The global cardiac reader system market represents a consolidated competition landscape, wherein the Tier 1 companies hold a revenue share of more than 75%.
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Some of the top companies in the cardiac reader system market include Beckman Coulter Inc., Abbott Laboratories, F. Hoffmann-La Roche Ltd., and Siemens AG among others, a majority of which are focusing on the markets in Middle East, Africa, and Asia Pacific.
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Technical improvements in cardiac reader systems will be a prominent developmental strategy of competing vendors in the market.
The Market to Expand 1.5X between 2019 and 2027
The soaring need for faster patient triaging in cases of pre-hospital and emergency care is translating into the ascending sales of cardiac reader systems. The continued inadequacy of cardiac markers to be used in suspected stroke management will remain the key factor upraising the demand for R&D of innovative markers and cardiac reader systems.
Asian Countries – The Hotbed of Opportunities
With a strong base of globally leading manufacturers, further assisted by frequent FDA approvals, cardiac reader system sales will continue to be the highest in developed regions. Characterized by the ever-high awareness about the risk factors and timely diagnosis of CVDs, the North American market has been at the vanguard of the global cardiac reader system landscape.
The Broader Perspective
Banking on the notable specificity and sensitivity than a majority of conventional biomarkers, troponin will remain the preferred type of marker.
Creatine-kinase (CK) accounts for a sizeable share of over 1/4th of the market revenues.
Myoglobin cardiac markers, with considerably high sensitivity, are also gaining ground.
Enzyme immunoassay analyzers witnessing steady adoption
Chemiluminescence immunoassay analyzers poised to see healthy demand growth
Magnetic immuno-chromatographic assay analyzers hold nearly 1/5th of market value share, slated for robust growth in adoption
How Growth will Unfold
While hospitals and clinics have been spearheading the end use category of cardiac reader system landscape, they continue to account for more than 2/5th of overall sales. Research however prompts relatively higher sales opportunities arising in ambulatory surgical centers and diagnostic laboratories. Rapidly improving levels of awareness about cardiac conditions and the associated risk factors is directing a gradual shift toward diagnostic laboratories, which are relatively easily accessible. Constant rise in the emergency use cases is abeting high adoption at ambulatory surgical centers.
Hospitals and clinics | Diagnostic laboratories | Ambulatory surgical centers
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Cardiac Reader System Market: Global Industry Analysis 2013-2018 & Opportunity Assessment 2019-2027
A recent market study published by FMI “Cardiac Reader System Market: Global Industry Analysis 2013-2018 & Forecast 2019-2027” offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historic as well as current growth parameters of the Cardiac Reader System market, the growth prospects of the market are obtained with maximum precision.
Cardiac Reader System Market Taxonomy
The global Cardiac Reader System market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Modularity Type
- Benchtop Analyzers
- Compact Analyzers
Product Type
- Enzyme Immunoassay Analyzers
- Chemiluminiscenece Immunoassay Analyzers
- Magnetic Immuno-Chromatographic Assay Analyzers
- Immuno-Fluorescence Analyzers
Marker Type
- Troponin
- Creatine Kinase
- Myoglobin
- Others
End Use
- Hospitals and Clinics/li>
- Laboratories
- Ambulatory Surgical Centers
- Other End Use
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
What's Included
The report commences with the executive summary of the Cardiac Reader System market, which includes a summary of the key findings and key statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the Cardiac Reader System market.
Readers can find the detailed taxonomy and the definition of the Cardiac Reader System market in this chapter, which will help them understand the basic information about the Cardiac Reader System market. This section also highlights the key inclusions and exclusions, which helps the reader understand the scope of the Cardiac Reader System market report.
The report provides the key trends that are expected to substantially impact the growth of the market during the forecast period. Detailed industry trends are provided in this section, along with key market developments or product innovations, key competition mapping, and which is likely to have a significant impact on Cardiac Reader System market.
This section includes the key inclusions of the report. It includes the product adoption & usage analysis, product timeline, regulatory assessment, reimbursement scenario, pipeline assessment & opportunity analysis, and manufactures’ strategies for market expansion.
This section explains the global market value analysis and forecast for the Cardiac Reader System market between the forecast period of 2013-2027. This chapter includes the detailed analysis of the historical Cardiac Reader System market, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019 – 2020), and an incremental opportunity for the forecast period (2019 – 2027).
This chapter explains the key macro-economic factors that are expected to influence the growth of the Cardiac Reader System market during the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the Cardiac Reader System market. This chapter also highlights the key dynamics of the Cardiac Reader System market, which include the drivers, restraints, and trends. Moreover, it will enable readers to understand the key trends followed by the leading manufacturers in the Cardiac Reader System market.
This section explain the global market penetration analysis for the Cardiac Reader System in 2018. The section also covers the key information about the Cardiac Reader patents landscape, regulatory scenario, the adoption of Cardiac Reader in Hospitals, Diagnosis Centers, etc. It also provides information on the penetration of the Cardiac Reader System market by emerging application areas.
Based on the modularity type, the Cardiac Reader System market is segmented into Benchtop Analyzers and Compact Analyzers. In this chapter, readers can find information about the key trends and developments in the Cardiac Reader System market and market attractiveness analysis based on the modularity type.
A detailed analysis about the product type of Cardiac Reader System in the Cardiac Reader System market has been explained in this chapter. The Cardiac Reader System market is segmented into Enzyme Immunoassay Analyzers, Chemiluminiscenece Immunoassay Analyzers, Magnetic Immuno-Chromatographic Assay Analyzers, and Immuno-Fluorescence Analyzers. In this chapter, readers can find information about the market attractive analysis based on product type.
This chapter provides details about the Cardiac Reader System market on the basis of marker type, based on which the market has been classified into Troponin, Creatine Kinase, Myoglobin, and Others. In this chapter, readers can understand the market attractiveness analysis based on marker type.
This chapter provides details about the Cardiac Reader System market on the basis of end use, based on which the market has been classified into Hospitals and Clinics, Laboratories, Ambulatory Surgical Centers, and Other End Use. In this chapter, readers can understand the market attractiveness analysis based on end use.
This chapter explains how the Cardiac Reader System market will grow across various geographic regions, such as North America, Latin America, Europe, Japan, Asia Pacific Excluding Japan (APEJ), and the Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America Cardiac Reader System market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the regional trends, regulations, and market growth based on the modularity type, product type, marker type, end use, and countries in North America.
Readers can find detailed information about several factors, such as the pricing analysis and the regional trends, which are impacting the growth of the Latin America Cardiac Reader System market. This chapter also includes the growth prospects of the Cardiac Reader System market in the leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Cardiac Reader System market based on its end users in several countries, such as Germany, the UK, France, Spain, Italy, and the Rest of Europe, are included in this chapter.
Japan is the prominent country in the Asia Pacific market. Thus, Japan is the prime subject of assessment to obtain the growth prospects of the Asia Pacific Cardiac reader system market. In this chapter, readers can find detailed information about the growth parameters of the Japan Cardiac reader system market for the period 2019–2027.
This chapter highlights the growth of the Cardiac Reader System market in the East Asia by focusing on India, China, Malaysia, Singapore, Australia, and the Rest of APEJ. This section also helps readers understand the key factors that are responsible for the growth of the Cardiac Reader System market in APEJ.
This chapter provides information about how the Cardiac Reader System market will grow in the major countries in the MEA region, such as GCC Countries, South Africa, Israel, and the rest of MEA, during the forecast period 2019 - 2027.
In this chapter, readers can find detailed information about the tier analysis and market concentration of the key players in the Cardiac Reader System market, along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of all the leading stakeholders in the Cardiac Reader System market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are F. Hoffmann-La Roche Ltd., Beckman Coulter Inc., Siemens AG., Abbott Laboratories, Radiometer Medical Aps, Creative Diagnostics, Boditech Med Inc., Mitsubishi Chemical Europe GmbH, and Quidel Corporation.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Cardiac Reader System market report.
This chapter helps readers understand the research methodology followed to obtain the various conclusions as well as important qualitative and quantitative information about the Cardiac Reader System market.
How the research was conducted?
Primary Research
Primary research interviews with Key opinion leaders and other participants were conducted for data collection and validation of the below information:
- Prevalence of rare heart problems
- Adoption of Cardiac Reader System as a mode of assessment
- Adoption of Cardiac Reader System in application areas
- Average Selling Price (US$) and market growth
- Key developments
- Key trends and opportunities
- Region-wise dynamics
- Market share information
- Key brands
- Competition & Key Vendor Strategies
Secondary Research
- American Hospital Association
- Centers for Medicare & Medicaid Services
- European Association of Hospital Pharmacists
- Asian Pacific Society of Cardiology
- World Health Organization
- European Hospital and Health Care Federation
- Chinese Hospital association
- Australian Healthcare and Hospitals Association
- Ontario Hospital Association
- Russian Gastroenterological Association
- American Clinical Laboratory Association
- Ontario Association of Medical Laboratories
- American Council of Independent Laboratories
Primary Interview Splits
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