Dublin, Oct. 26, 2022 (GLOBE NEWSWIRE) -- The "Global Precision Cardiology Market: Competition Forecast and Opportunities to 2027" report has been added to ResearchAndMarkets.com's offering.
The Global precision cardiology market is anticipated to register growth at an impressive CAGR in the forecast period, 2023-2027. The market growth can be attributed to the rising geriatric population as they are more susceptible to such ailments. In addition, the growing prevalence of cardiovascular diseases, owing to the adoption of unhealthy and sedentary lifestyles such as eating junk and processed foods, restricted physical activities, and high alcohol consumption, are creating greater need for precision cardiology.
Precision cardiology (PM) refers to an integrative approach of dealing with cardiovascular disease prevention and treatment. This approach proposes the customization of healthcare treatments, procedures, and medicines depending on the patient's genetics, lifestyle, and other molecular or cellular analysis. Precision cardiology involves treatment tailored to a subgroup of patients with shared characteristics for improved outcomes. Besides, growing awareness regarding precision cardiology, coupled with its increased adoption by healthcare providers, is fueling the market growth.
This is primarily because, precision cardiology helps healthcare providers in better understanding several things such as the patient's environment, lifestyle, and heredity, which might positively influence the result of the treatment. Thus, healthcare providers across the globe are increasingly employing precision cardiology to accurately predict the right, safe, and most effective treatment for the patient.
Artificial Intelligence in Precision Cardiology Fuels the Market Growth
The integration of AI with precision cardiology is acting as a major growth-inducing factor for the global precision cardiology market. Machine learning algorithms are utilized to analyze and draw inferences from the huge amounts of data generated from patients and healthcare institutions.
AI techniques are also used in genome sequencing and precision cardiovascular medicine to understand phenotypes and genotypes in the existing diseases and improve the quality of patient care. This signifies that the rate of hospital readmissions and mortality will reduce over the coming years, hence making the overall healthcare cost-effective for the patients.
Rising Prevalence of Cardiovascular Diseases Boost the Market Growth
The global precision cardiology market is witnessing a robust growth due to the rising cases of cardiovascular disorders such as coronary artery disease (CAD). According to a report, in 2020, nearly 697,000 people in the United States died from heart disease, that equals to one in every five deaths. As a result, the patients are increasingly inclining towards early detection and screening in order to prevent the disease from becoming fatal.
Furthermore, several leading market players are focusing on the development of precision cardiology tests based on advanced sequencing technologies to support healthcare professionals in taking informed decisions in the field of cardiovascular care. All the aforementioned factors are anticipated to propel the global precision cardiology market in the coming years.
Market Segmentation
The global precision cardiology market is segmented on the basis of offering, sample type, technology, application, end-user, competitive landscape, and regional distribution. Based on offering, the market is bifurcated into products and services. By sample type, the market is fragmented between blood and non-blood. By technology, the market is divided among sequencing, polymerase chain reaction, microarray, and others.
Based on the application, the market is segmented into cardiomyopathy, arrhythmia, aortopathy and vascular diseases, and others. On the basis of end-user, the global market is segmented hospitals & clinics, academic & research institutions, and others. The market analysis also studies the regional segmentation, divided among North America, Europe, Asia Pacific, Middle East and Africa, South America. In terms of country, the United States is expected to hold a significant share in the global precision cardiology market, owing to the advanced healthcare infrastructure and increasing mortality rates from cardiovascular disorders in the country.
Company Profile
Eurofins Genomics LLC, Laboratory Corporation of America Holdings, Thermos Fischer Scientific, Inc., PerkinElmer, Inc., Sema4 OpCo, Inc., Quest Diagnostics Inc., OraSure Technologies, Inc., OPKO Health, Inc., Invitae Corporation, Illumina, Inc., Fulgent Genetics, Inc., Exact Sciences Corporation, CENTOGENE N.V., Konica Minolta, Inc., and Devyser Diagnostics AB are the leading market players in the global precision cardiology market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Impact of COVID-19 on Global Precision Cardiology Market
5. Voice of Customer
5.1. Precision Cardiology Awareness
5.2. Cardiovascular Diseases Prevalence, by Gender
5.3. Cardiovascular Diseases Prevalence, by Age Group
5.4. Cardiovascular Diseases Prevalence, Region
5.5. Benefits of Using Precision Medicine in Cardiology
6. Clinical Trial Analysis
7. Patent Analysis
8. Global Precision Cardiology Market Outlook
8.1. Market Size & Forecast
8.1.1. By Value
8.2. Market Share & Forecast
8.2.1. By Offering (Products v/s Services)
8.2.2. By Sample Type (Blood v/s Non Blood)
8.2.3. By Technology (Sequencing, Polymerase Chain Reaction, Microarray, Others)
8.2.4. By Application (Cardiomyopathy, Arrhythmia, Aortopathy and Vascular Diseases, Others)
8.2.5. By End-user (Hospitals & Clinics, Academic & Research Institutions, Others)
8.2.6. By Region
8.2.7. By Company (2021)
8.3. Product Market Map
9. North America Precision Cardiology Market Outlook
10. Europe Precision Cardiology Market Outlook
11. Asia-Pacific Precision Cardiology Market Outlook
12. South America Precision Cardiology Market Outlook
13. Middle East and Africa Precision Cardiology Market Outlook
14. Market Dynamics
14.1. Drivers
14.2. Challenges
15. Market Trends & Developments
16. SWOT Analysis: Global Precision Cardiology Market
17. Competitive Landscape (Inclusive of SWOT Analysis of Players Profiled)
17.1. Eurofins Genomics LLC
17.2. Laboratory Corporation of America Holdings
17.3. Thermos Fischer Scientific, Inc.
17.4. PerkinElmer, Inc.
17.5. Sema4 OpCo, Inc.
17.6. Quest Diagnostics Inc.
17.7. OraSure Technologies, Inc.
17.8. OPKO Health, Inc.
17.9. Invitae Corporation
17.10. Illumina, Inc.
17.11. Fulgent Genetics, Inc.
17.12. Exact Sciences Corporation
17.13. CENTOGENE N.V.
17.14. Konica Minolta, Inc.
17.15. Devyser Diagnostics AB
18. Strategic Recommendations
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