Cardiac Biomarker Diagnostic Kits Market By Product (Troponin Test Kits, CK-MB Test Kits, Myoglobin Test Kits, BNP Test Kit, C-reactive Protein, Other Biomarkers), By Disease Indication (Angina Pectoris, Myocardial Infraction, Cardiac Heart Failure), By Testing (Laboratory Testing, Pont-of-care Testing) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

"Cardiac biomarker diagnostic kits market to exhibit dynamic growth during the forecast period."

The global cardiac biomarker diagnostic kits market is growing competently at a CAGR of 5.3%. Globally, the rising prevalence of chronic diseases, cardiac disorders, and numerous lifestyle diseases will drive market growth. In addition, significant factors such as the growing elderly population, increasing hospital admissions for cardiovascular diseases, and enhanced product penetration in developing nations are driving the global market. Furthermore, present clinical trials for identifying innovative cardiac biomarkers and public and private funding for improved R&D are also increasing the market growth worldwide. Globally, a gradual shift towards overall treatment along with diagnosis for various lifestyle and chronic diseases is one of the key factors driving the market's overall growth. 

Market Synopsis

"Troponin test kits expected to register higher growth by the end of 2027." 

The troponin diagnostic test kits are estimated to grow significantly during the forecast period, generate maximum revenue in 2018, and are estimated to dominate by 2027. Top manufacturers are receiving U.S. FDA clearance. Product penetration of this segment can be accredited to an increase in the demand for high sensitive troponin assay applications. E.g., Alere recently launched next-generation products such as Troponin I, Cardio2, and Cardio3. Furthermore, the prevalence of acute myocardial infarction (AMI) will boost the need for advanced diagnostic kits on a global scale. Additionally, a huge number of pipeline products and advancements in point-of-care (POC) cardiac testing will increase the market share of diagnostic kits during the forecast period.

"Angina Pectoris segment to witness a significant CAGR."

The increasing prevalence of cardiovascular diseases and a growing number of the adult population with an increased incidence rate of stroke, diseases in the arteries, and other lifestyle diseases will upsurge the market demand for diagnostic kits. As per the statistics by American Heart Association, cardiovascular disease is the leading global cause of death, accounting for more than 17 Mn deaths per year globally, expected to grow to more than 23 million by 2030 worldwide. Additionally, more than 9 million people in the U.S are projected to experience angina pectoris every year, with more than 500,000 new cases of angina pectoris occurring annually. The increasing prevalence of these diseases and the new launch of products for various disease indications globally will further revenue growth during the forecast period. In 2014-2015, stroke and CVD accounted for around 14% of total health expenditures, more than any major diagnostic segment globally. The total direct and indirect costs were more than US$ 350 Bn. 

"Increased research and development with strong product pipelines in the developed regions"

Major manufacturers such as Abbott, Roche, Danaher, and others are developing novel products with enhanced applications in the point of care and laboratory testing segment. Increasing demand for laboratory investigation for the identification and diagnostic testing of various cardiac diseases is driving market growth. In addition, novel diagnostic kit launch with higher compatibility, strategic collaborations, innovative technology assessment in emerging countries, and improved clinical outcomes in the field of overall cardiac testing globally will further spur revenue growth on a global scale. E.g., In March 2017, Fujirebio Europe (leader in IVD testing) launched Lumipulse G Myoglobin immunoassays and Lumipulse® G hs Troponin I for both LUMIPULSE G600II and G1200 platforms. 

Key Industry Developments: 

• In Oct 2017, Abbott Laboratories completed its acquisition of Alere (leader in rapid point-of-care diagnostics), closing a deal first declared in Feb 2016. 
• In September 2018, Celemics Inc. and Firalis S.A. launched the FiMICS® panel. Both declared a definitive agreement to commercialize an exclusive proprietary long non-coding RNA (lncRNA) panel. 
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Top Companies

• bioMerieux SA
• Danaher Corporation
• Guangzhou Wondfo Biotech Co., Ltd
• Siemens AG
• Abbott Laboratories
• Alere, Inc.
• LSI Medience Corporation
• Randox laboratories
• Ortho Clinical Diagnostics
• Hoffmann-La Roche AG
• Thermofisher Scientific
• Bio-Rad Laboratories
• Others 
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Historical & Forecast Period

This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.

Segmentation Product Type (2017–2027; US$ Mn)

• Troponin Test Kits
• CK-MB Test Kits
• Myoglobin Test Kits
• BNP Test Kit
• C-reactive Protein
• Other Biomarkers
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 Disease Indication (2017–2027; US$ Mn)

• Angina Pectoris
• Myocardial Infraction (MI)
• Cardiac Heart Failure
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 Testing Segment (2017–2027; US$ Mn)

• Laboratory Testing
• Pont-of-care Testing
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 Geography Segment (2017–2027; US$ Mn)

• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)
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The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to understand the cardiac biomarker diagnostic kits market better. In addition, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.