New York, June 09, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cardiac Marker Global Market Report 2023" - https://www.reportlinker.com/p06466547/?utm_source=GNW
, Guangzhou Wondifo Biotech Co. Ltd., Siemens AG, Creative Diagnostics, PerkinElmer Inc., Tosoh Corporation, Quidel Corporation, Randox Laboratories Ltd., Getinge Group, Roche Diagnostics Ltd., ISI Medience Corporation, Ortho Clinical Diagnostics, LSI Medience Corporation, and DiaSorin.
The global cardiac marker market is expected to grow from $9.40 billion in 2022 to $10.40 billion in 2023 at a compound annual growth rate (CAGR) of 10.66%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cardiac marker market is expected to reach $16.08 billion in 2027 at a CAGR of 11.50%.
The cardiac marker market consists of sales of C-reactive protein (CRP) and Ischemia-modified albumin (IMA).Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cardiac markers are biomolecules that are released into the bloodstream when there is damage or stress to the heart muscle. It is used to diagnose and monitor a variety of cardiac diseases, including heart attacks, angina, and heart failure.
North America was the largest region in the cardiac marker market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of cardiac markers are troponin, creatine kinase-MB (CK-MB), B-type natriuretic peptide (BNP), myoglobin, and other biomarkers.Troponin refers to a protein that is released into the bloodstream when there is damage to the heart muscle and is commonly used to diagnose and monitor heart-related conditions.
The different products of cardiac markers are reagents, instruments, chemiluminescence, immunofluorescence, immunochromatography, and ELISA. It is applied for various indications, including myocardial infarction, congestive heart failure, acute coronary syndrome, and other indications, by end users such as laboratory testing facilities, hospital labs, reference labs, contract testing labs, point-of-care testing facilities, and academic institutions.
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.
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 commercialised, 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.
In July 2020, MBio Diagnostics, a US-based company manufacturing of laboratory instruments and instrumentation systems, merged with Brava Diagnostics for an undisclosed amount.Through this merger, Brava functioned as MBio’s human in vitro diagnostics section, where it provided a range of point-of-care assays for which lab-quality data are essential for hastily making choices.
Brava Diagnostics is a US-based company that develops and commercializes acute care diagnostic products, including biomarkers, and cardiac markers.
The countries covered in the cardiac marker market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cardiac marker market research report is one of a series of new reports that provides Cardiac marker market statistics, including global market size, regional shares, competitors with a cardiac marker market share, detailed cardiac marker market segments, market trends and opportunities, and any further data you may need to thrive in the cardiac marker industry. This cardiac marker market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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