Global Cardiac Biomarkers Market is Estimated to Witness High Growth Owing to the Rising Prevalence of Cardiovascular Diseases and Growing Adoption of POCT, Point-of-care testing
The cardiac biomarkers market is estimated to be valued at USD 15.10 Bn in 2024, exhibiting a CAGR of 13.3% over the forecast period (2024-2031). The rising prevalence of cardiovascular diseases globally is the major factor fueling the market growth. Furthermore, the growing adoption of point-of-care testing for cardiac markers is also augmenting the demand for cardiac biomarkers.
Market Dynamics:
The global cardiac biomarkers market is driven by factors such as growing geriatric population who are more prone to heart diseases, increasing prevalence of lifestyle diseases like diabetes and obesity, rising healthcare expenditure, availability of reimbursement for cardiac biomarker tests and growing number of clinical trials evaluating new biomarkers. However, short shelf-life and stability issues with some biomarkers, stringent regulatory guidelines for new marker approval and lack of skilled labor impede market growth. Development of novel, sensitive assays for point-of-care testing presents an opportunity for market expansion in near future.
Major Driver: Rising Geriatric Population and Increasing Healthcare Expenditure
The cardiac biomarkers market is primarily driven by the rising geriatric population worldwide which is more prone to develop cardiovascular diseases. As per WHO, cardiovascular diseases are the number one cause of death globally, taking an estimated 17.9 million lives each year. This growing burden of cardiovascular diseases is prompting governments to increase healthcare spending. Increasing healthcare expenditure is consequently boosting the utilization and adoption of cardiac biomarker tests for diagnosing and monitoring cardiovascular conditions.
Growing Prevalence of Cardiovascular Diseases is Driving the Demand for Cardiac Biomarkers Cardiovascular diseases (CVDs) have become one of the leading causes of mortality globally. According to the World Health Organization, CVDs accounted for over 17 million deaths in 2015. The growing burden of CVDs is driving the demand for solutions in disease diagnosis, management, and prevention. Cardiac biomarkers have emerged as effective diagnostic tools for CVDs in recent years. Biomarkers can help in the early diagnosis of conditions like myocardial infarction and heart failure. They also assist physicians in monitoring the effectiveness of various treatments. The increasing emphasis on early diagnosis and disease management is a major factor promoting the adoption of cardiac biomarkers.
Major Restraint: Reimbursement Issues Limit the Adoption of Advanced Tests
Stringent regulatory requirements and lengthy approval procedures can pose challenges for market players. Biomarker development and validation involves significant investments. Clinical trials evaluating the diagnostic and prognostic utility of novel biomarkers are complex and time-consuming. Regulatory agencies have established rigorous guidelines to validate the clinical usefulness and accuracy of cardiac biomarkers. Any delay in receiving approvals can dent the return on investment for companies. Additionally, biomarkers need to demonstrate clear benefits over existing tests to gain clinical acceptance. Overcoming these regulatory obstacles remains a major restraint for the cardiac biomarkers market.
Major Opportunity: Point-of-Care Testing is a Major Market Opportunity
There is a growing need for rapid and near-patient cardiac biomarker testing. POC testing facilitates immediate clinical decision-making and treatment, improves patient management outcomes. Existing biomarkers tests often necessitate central lab processing, leading to delays in reports. With more biomarkers receiving regulatory backing for POC use, companies have an opportunity to develop portable, user-friendly testing platforms. Miniaturization of assays and integrated diagnostic systems represent an avenue for growth. Biomarker levels interpreted at the bedside helps initiate early treatment interventions. This reduces morbidity and healthcare costs associated with adverse outcomes. The expanding POC diagnostics domain presents attractive prospects.
Personalized Medicine Approach Provides Impetus
Advancing the role of biomarkers in precision or personalized medicine augurs well for market players. As research uncovers new disease pathways and genetic signatures, opportunities emerge for tailoring diagnostic and therapeutic approaches. By identifying high-risk patients, biomarkers play a role in selecting optimal prevention strategies. They could also guide selection of suitable treatment regimens tailored to individual patients. Developing multi-analyte biomarker panels correlating with specific disease subtypes fosters more targeted risk assessment and therapy. Leveraging rapidly expanding capabilities in companion diagnostics and genetic testing opens new growth frontiers.
Link: https://www.coherentmarketinsights.com/market-insight/cardiac-biomarkers-market-4576
Key Developments:
- On January 27, 2024, an international academic collaboration, led by Mr. Johns Hopkins University, the Chinese University of Hong Kong, and Lund University, identified 13 biomarkers that significantly enhance the accuracy of predicting cardiovascular disease risk in individuals with type 2 diabetes. Despite type 2 diabetes doubling the risk of cardiovascular disease, traditional risk scores are outdated and ineffective in diverse populations, posing a challenge for clinicians in determining the most at-risk individuals.
- On February 29, 2024, according to data published by Healthline Media UK Ltd, a recent study has pinpointed six biomarkers in individuals with rheumatoid arthritis (RA) that correlate with changes in artery inflammation, potentially aiding in predicting heart disease risk more accurately than current methods. Published in the Journal of the American Heart Association, the study analyzed 109 participants and identified these biomarkers as indicators of heightened cardiovascular disease risk in RA patients.
- In October 2023, Mindray, a global provider of medical devices and solutions, unveiled two new cardiac biomarkers, hs-cTnI and NT-proBNP, expanding its range of tools for diagnosing and treating cardiovascular diseases. The announcement was made through a recent statement, marking the global launch of these additions to Mindray's portfolio.
- In September 2022, SRL Diagnostics, a diagnostics company in India, introduced "Heart Assure," a specialized examination designed to forecast an individual's likelihood of experiencing a cardiac event. This test utilizes high-sensitivity troponin I, a straightforward blood test, to accurately gauge the risk of cardiac injury by generating a heart health risk score.
- In June 2022, SCIEX, a prominent player in life science analytical technologies and a subsidiary of Danaher Corporation, unveiled the Zeno SWATH DIA, marking a substantial advancement in biomarker exploration and application workflows.
Key Players: Abbott Laboratories, Life Diagnostics, Roche Diagnostics, Siemens Healthineers, Danaher Corporation, Becton, Dickinson and Company (BD), Bio-Rad Laboratories, Inc., Thermo Fisher Scientific Inc., PerkinElmer Inc., bioMérieux SA, Randox Laboratories Ltd., Ortho Clinical Diagnostics, Myriad RBM, Dia Dexus Inc., Response Biomedical Corp., BG Medicine, Inc., Boston Scientific Corporation, Cardiovascular Systems, Inc., and Quidel Corporation
