The global Cardiac Biomarkers Market is estimated to Propelled by...

The global Cardiac Biomarkers Market is estimated to Propelled by Rising Demand of Point-of-Care Testing

نشر بتاريخ 2024-01-04 06:05:06

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Cardiac biomarkers are biochemical markers found in the blood that indicate the condition of the heart. Cardiac biomarkers are essential tools used by the healthcare professionals to aid in the diagnosis of several heart diseases and conditions including myocardial infarction. The need for early detection and diagnosis of cardiac conditions is driving the demand of point-of-care testing kits that provide quick diagnostic results.

The global Cardiac Biomarkers Market is estimated to be valued at US$ 9836.55 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growth of the cardiac biomarkers market is highly driven by the rising demand of point-of-care testing. Point-of-care testing provides test results in a short span of time, enabling quick clinical decisions. Rising cases of cardiovascular diseases globally have increased the demand for point-of-care cardiac biomarker testing kits that can provide diagnosis within hours compared to standard lab tests that takes 1-3 days. This has prompted companies to invest more in developing rapid point-of-care testing kits with high sensitivity and accuracy for early detection of cardiac events.

SWOT Analysis

Strength: High Diagnostic Value- Cardiac biomarkers provide high diagnostic value in detecting cardiac conditions and diseases at an early stage. Ease of Access and affordability- Cardiac biomarker tests are easily accessible and affordable compared to other cardiac diagnostic tests.

Weakness: Short Detection Window- Cardiac biomarkers have a very short window period to detect as the levels may not remain elevated for long after an event. Specificity Issues- Some biomarkers lack required specificity for conclusive diagnosis of a cardiac condition.

Opportunity: Emerging Economies- Growing incidences of cardiac diseases and improving healthcare facilities in emerging countries offer growth opportunities. New Product Development- Continued research is expanding applications and leading to development of new cardiac biomarkers.

Threats: Alternative Diagnostic Techniques- Advanced imaging and other diagnostic methods pose competition. Stringent Regulations- Stringent regulatory norms for approval and licensing of cardiac biomarkers.

Key Takeaways

The Global Cardiac Biomarkers Market Share is expected to witness high growth. The global Cardiac Biomarkers Market is estimated to be valued at US$ 9836.55 Mn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030.

The cardiac biomarkers market in North America currently dominates owing to high awareness, advanced healthcare infrastructure and growing prevalence of cardiac diseases. Asia Pacific is expected to grow at a high pace due to rising healthcare expenditure, growing medical tourism industry and increasing focus of key players.

Key players related content comprises Key players operating in the Cardiac Biomarkers market are Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Randox Laboratories Ltd., Siemens Healthineers, and BioMÃ©rieux SA. These players are focusing on new product launches, collaborations and geographic expansions to strengthen their market presence.

For more details on the report, Read- https://www.ukwebwire.com/cardiac-biomarkers-market-demand-share-analysis/

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