The Total Addressable Market (TAM) for cardiac biomarkers was valued at USD 14.73 billion in 2022. It is estimated to reach USD 48.66 billion by 2031, growing at a CAGR of 14.2% during the forecast period (2023–2031).
Cardiac biomarkers are substances the body makes, like enzymes, hormones, and proteins, released into the blood during certain heart conditions to show that the heart is not working correctly. The high prevalence of acute coronary syndrome, technological advancements in cardiac biomarkers, rising demand for point-of-care (POC) cardiac testing kits, and high specificity in the detection of cardiac diseases, particularly myocardial infarction, are all contributing to the growth of cardiac biomarkers.
Heart disease can be more easily diagnosed thanks to the variety of combination tests found in cardiac test kits that look for the presence of biomarkers. These kits are in higher demand because they enable quick diagnosis and prompt results, which cut down on time needed for diagnosis and speed up the healing process. Additionally, they aid in identifying risk factors before adverse cardiac events happen and diagnose chest pain.
|Market Size||48.66 billion|
|Fastest Growing Market||Europe|
|Largest Market||North America|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends|
Increasing Prevalence of Cardiovascular Diseases and Lifestyle-Related Diseases
Cardiovascular disease is the leading cause of death for men and women globally. The American College of Cardiology states that a myocardial infarction happens to an American about every 40 seconds. It also stated that emergency medical services estimated that 356,461 Americans had cardiac arrest outside of a hospital in 2017 and that 52% of those people got treatment from emergency medical services. In addition, there is a rising prevalence of lifestyle-related diseases such as diabetes, hypertension, etc. For example, the WHO says that about 1.13 billion people worldwide have high blood pressure. Also, the number of older people who are very sick and need to be constantly watched and given updates on their health is on the rise. Since these groups are becoming more common, along with other cardiovascular and lifestyle diseases, one needs an excellent way to keep a close eye on the heart.
In this situation, cardiac biomarkers are used to measure patients' quality of life, the health of their hearts and blood vessels, and how long they will live after heart surgery. Pressure transducing devices use these parameters, such as electrical, photometric, invasive, and non-invasive. This system also includes numerous intravascular catheters and is used in cases where a patient's cardiovascular health requires assessment. The advantages of cardiac biomarkers, which aid in treating cardiovascular disease and other lifestyle diseases, propel market growth.
Increasing Demand for Disease-Specific Treatment
More people are developing heart diseases due to a sedentary lifestyle, which is anticipated to drive the market for cardiac biomarkers. This increase in the number of heart diseases will also lead to more research on the market, which will lower prices and speed up the testing process. The result will be that more people will want to buy the product, which will also drive the market. The speed at which medical research is growing is causing a corresponding increase in the longevity of humans. Since the chances of getting cardiovascular diseases are directly proportional to the increase in age, more individuals will be affected by cardiovascular diseases, driving the market for their fast and relatively cheap diagnosis.
Lack of Awareness among People
Only a little research is being done on cardiac biomarkers at the moment. In addition, most people need to be informed about this product. Doctors' slow adoption of biomarkers is constraining the market. These limitations will be lifted through research, but that will take time and money. The COVID pandemic's current global emphasis on healthcare can aid this market by funding its research because post-COVID individuals are more prone to chronic cardiovascular diseases. The product can then be promoted, and a straightforward test performed at home becomes more alluring using this market research on cardiac biomarkers.
Growing Use in Personalized Medicine
Applications of biomarkers in personalized medicine include diagnosis, prognosis, and the selection of targeted therapies. Due to the numerous limitations of conventional diagnostic and treatment procedures, personalized medicine has gained popularity over time. Numerous branches of medicine, including oncology and immunology, are moving toward patient-specific treatment based on their genetic signatures and clinical characteristics. Personalized medicine determines the optimal course of treatment for each patient. In particular facets of personalized medicine, the utilization of biomarkers plays a crucial role. Biomarker testing consumables permit the identification of these diseases. Several investigational therapies employ biomarker diagnostic products as companion diagnostics.
Additionally, developments in genomics have improved our understanding of some cancer types. These advancements have led to the development of "precision therapies" based on a specific gene mutation or molecular target, giving patients more options for treating their cancer. Biopharmaceutical researchers have focused on identifying biomarkers, such as the HER2-positive gene mutation in women with breast cancer. These mutations can predict a patient's risk of developing certain cancers and can be passed from generation to generation. By customizing treatments based on biomarkers, medical professionals can provide patients with the greatest possible benefit. This benefit creates many opportunities for the cardiac biomarker market to grow.
By region, the global cardiac biomarkers market is divided into North America, Europe, Asia-Pacific, and the Middle East and Africa.
Americas Dominates the Global Market
North America is the most significant global cardiac biomarkers market shareholder and is anticipated to grow at a CAGR of 9.4% during the forecast period. This is due to the high demand for cardiac testing, the high CVD prevalence rate, and the growing awareness of cardiac diagnostic solutions. The introduction of new products and the consolidation of existing ones, as well as the high rates of cardiovascular disease and diabetes in the area, all contribute to this trend. Heart disease is one of the main reasons for death in the United States. One person in the US passes away from cardiovascular disease every 36 seconds, or approximately 655,000 Americans annually. Also, the major players in the regional market are putting a lot of effort into making new products and putting them on the market.
Europe is expected to grow at a CAGR of 10.8% over the forecast period. There is a greater need for these biomarkers as an acute coronary syndrome and myocardial infarction are becoming more prevalent. The global cardiac biomarkers market is expanding due to promising features like high accuracy, quick results, and affordable pricing. The major manufacturers provide specialized solutions to maintain the momentum of cardiac marker tests. One of the most significant market opportunities is the commercial use of multi-menu options designed for cardiac testing using various cardiac biomarkers and target-oriented solutions.
Asia-Pacific is anticipated to register the fastest growth rate over the forecast period. This growth is owing to the high incidence of cardiovascular diseases, COPD, and diabetes. As per the American Diabetes Association, more than 60% of the entire diabetic population lives in Asia. India and China are highly populated countries. The market growth in the Asia-Pacific region is also being helped by the government's efforts to improve the healthcare system. For instance, the Indian government declared that every Indian would receive a national health ID in August 2020. This was done to provide a centralized method for the National Health System to identify each user. Furthermore, the rising per capita disposable income of middle-class families, which accounts for a large population in Asia, results in individuals spending more on health. This is driving the growth of the cardiac biomarkers market in the region during the forecast period.
The global cardiac biomarkers market is segmented by type, location of testing, and application.
By type, the global market is divided into creatine kinase (CK-MB), troponins (T and I), myoglobin, BNPs, IMA, ALT, and others.
The Troponins T and I segment is the highest contributor to the market and is anticipated to grow at a CAGR of 11.3% over the forecast period. The troponin test is used to diagnose myocardial infarction and acute coronary syndrome, among other conditions. The increasing incidence of myocardial infarction and the acute coronary syndrome is expected to be a significant factor driving the demand for troponin tests over the forecast period.
The BNP or NT-proBNP segment is anticipated to grow significantly due to its use in detecting heart damage and stress. To generate lucrative profits, new market participants are entering the test market. For instance, in June 2022, LumiraDx Limited announced the diversification of its product line with CE Marks for its D-Dimer and NT-proBNP tests. The latter is anticipated to be commercialized by the end of 2022, facilitating clinical decision-making.
By location of testing, the global market is divided into point-of-care testing and laboratory testing.
The point-of-care testing segment owns the highest market share and is anticipated to grow at a CAGR of 11.1% over the forecast period. The segment of point-of-care (POC) testing is growing exponentially due to the increased use and adoption of susceptible and user-friendly POC troponin tests. The increasing emphasis on providing practical, value-based healthcare services despite budgetary constraints increases the significance of point-of-care (POC) tests. In addition, these tests are the first choice of medical professionals during emergencies to diagnose patients more quickly. The global phenomenon of the aging population, which is on the rise, drives the demand for POC test kits for use in nursing homes and home healthcare.
The laboratory testing segment is also growing tremendously due to the benefits of laboratory testing, which include high sensitivity, specificity, scalability, and cost-effectiveness. Moreover, these laboratories facilitate the testing of all sample types. Diagnostic laboratory services are crucial in clinical decision-making.
By application, the global market is divided into myocardial infarction, congestive heart failure, acute coronary syndrome, atherosclerosis, and others.
The myocardial infarction segment is the highest contributor to the market and is anticipated to grow at a CAGR of 11.7% over the forecast period. The increased emphasis of researchers on myocardial infarction is anticipated to generate lucrative opportunities in this market. The Science Journal says that in 2022, 27 new proteins were found that could be used to predict an individual's risk of having a myocardial infarction.
Acute coronary syndrome also witnessed considerable growth over the forecast period because the disease burden in low and middle-income countries is rising more rapidly than in high-income countries. The disease incidence is driven by rapid urbanization and increased sedentary jobs. Cardiac troponin T and I biomarker tests have emerged as the disease's most widely used diagnostic methods.
The key players in the global cardiac biomarkers market are