Categories: Market Research

Cardiac Marker Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Cardiac Marker Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Cardiac Marker Global Market Report 2024, The cardiac marker market size has grown rapidly in recent years. It will grow from $10.4 billion in 2023 to $11.55 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. The growth in the historic period can be attributed to increased incidence of cardiovascular diseases, aging population and cardiovascular risk, awareness programs and health screenings, integration of biomarkers in clinical practice, stringent regulatory standards and guidelines.

The cardiac marker market size is expected to see rapid growth in the next few years. It will grow to $18.08 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The growth in the forecast period can be attributed to rising burden of lifestyle-related diseases, remote monitoring and telemedicine, personalized medicine and precision diagnostics, point-of-care testing (poct) adoption, collaborations and partnerships in healthcare. Major trends in the forecast period include biomarker discovery and validation, personalized medicine approaches, technological advancements in assay platforms, integration of high-sensitivity troponin tests, rise in cardiovascular disease prevalence.

The rising prevalence of cardiac diseases is expected to propel the growth of the cardiac marker market going forward. Cardiac diseases are a group of conditions that affect the structure or operation of the heart and cause a range of medical problems. Cardiac markers are used to diagnose and monitor various cardiac conditions, including heart attacks, angina, heart failure, and other cardiovascular diseases. Thus, the demand for diagnostic tests or cardiac markers has increased. For instance, according to the British Heart Foundation, a cardiovascular research charity in the UK, in England, there were 30,000 more deaths from coronary heart disease from the start of the pandemic to August 2022. A record 346,000 persons were on a cardiac waiting list by the end of August 2022. Therefore, the rising prevalence of cardiac diseases will fuel the cardiac marker market’s growth.

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The cardiac marker market covered in this report is segmented –

1) By Biomarker: Troponin, Creatine Kinase-MB (CK-MB), B-type Natriuretic Peptide (BNP), Myoglobin, Other Biomarkers

2) By Product: Reagent, Instrument, Chemiluminescence, Immunofluorescence, Immunochromatography, ELISA

3) By Indication: Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Other Indications

4) By End User: Laboratory Testing Facilities, Hospital Labs, Reference Labs, Contract Testing Labs, Point-Of-Care Testing Facilities, Academic Institutions

Product innovation is a key trend gaining popularity in the cardiac marker market. Major market players are focusing on innovative solutions to strengthen their position in the market. For instance, in September 2022, MiRxes, a Singapore-based biotechnology company, validated a microRNA-based diagnostic test for the early detection and diagnosis of the illness. When commercialized, the test will enhance MiRxes’ portfolio of blood tests for cancer, offering a full range of early detection options to lessen the increasing clinical and socioeconomic burden of life-threatening illnesses, including cancer and cardio-pulmonary disorders.

The cardiac marker market report table of contents includes: