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Asia Pacific Emerges as a High-Growth Region in the Cardiac Marker Testing Market, Fueled by Government Investments and Growing Clinical Laboratories

DUBLIN, Nov. 10, 2023 /PRNewswire/ — The “Cardiac Marker Testing Market by Biomarker (Troponin, CK-MB, BNP, hs-CRP, Myoglobin), Product (Instrument (Chemiluminescence, ELISA), Reagents & Kits), Disease (MI, CHF, Atherosclerosis), User, ASP & Buying Criteria – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.

The global cardiac marker testing market is poised for substantial growth, with projections estimating it to reach USD 6.9 billion by 2028, a significant increase from its 2022 value of USD 4.1 billion. This growth is expected to occur at a Compound Annual Growth Rate (CAGR) of 9.4% during the forecast period. Several factors contribute to the expansion of the cardiac marker testing market.

Key Drivers of Market Growth

  1. Aging Population: The increasing global aging population has led to a higher prevalence of cardiovascular diseases. This demographic shift emphasizes the importance of cardiac marker testing in the early detection and management of heart-related conditions.
  2. Rising Cardiovascular Diseases: Cardiovascular diseases are on the rise worldwide, making cardiac marker testing an essential tool for the diagnosis and monitoring of these conditions.
  3. Research and Funding: Public and private organizations are investing in research to discover new cardiac biomarkers. This funding supports the development of advanced diagnostic methods, contributing to market growth.
  4. Early Detection: Cardiac marker testing plays a critical role in the early detection of heart failure diseases, enhancing the accuracy of heart condition diagnoses and enabling timely interventions.

Troponin I and T Lead Biomarker Segment

The market’s biomarker segmentation includes Troponin I and T, Creatine Kinase-MB (CK-MB), Brain Natriuretic Peptide (BNP and NT-PROBNP), Myoglobin, High-sensitivity C-reactive Protein (hs-CRP), and other cardiac biomarkers. The Troponin I and T segment is expected to hold the largest market share throughout the forecast period of 2022-2028. This dominance is driven by their exceptional sensitivity and specificity, prolonged elevation duration, and ease of use by lab technicians.

Laboratory Testing Facilities Preferred End-User

The end-user segment comprises laboratory testing facilities, academic institutes, and point-of-care testing facilities. In 2022, laboratory testing facilities represented the largest share, accounting for 61.2% of the global cardiac marker testing market. The growth of this segment is attributed to its increased testing efficiency, superior sensitivity, diagnostic precision compared to point-of-care testing, and the preference for laboratory testing over point-of-care options.

Asia Pacific Exhibits Significant Growth Potential

During the forecast period from 2023 to 2028, the Asia Pacific (APAC) region is expected to experience substantial growth in the cardiac marker testing market. APAC includes countries such as India, China, Japan, Australia, South Korea, and RoAPAC. Several drivers contribute to this growth:

  • Government Investments: Government agencies in emerging countries are investing in healthcare infrastructure, driving market growth.
  • Clinical Laboratories: The rise of independent clinical laboratories in the region is increasing demand for cardiac marker testing.
  • Patient Population: A substantial patient population in the Asia Pacific region is boosting the need for advanced diagnostic methods.
  • Industry Initiatives: Industry players are strategically expanding their offerings of cardiac testing products in the Asia Pacific region, further enhancing market growth.

Premium Insights

  • Rising Prevalence of Cardiovascular Diseases to Drive Market
  • Laboratory Testing Facilities Segment Accounted for Largest Share of North American Market in 2022
  • North America Will Continue to Dominate Market During Forecast Period
  • China to Register Highest Growth During Forecast Period

Market Dynamics

Drivers

  • Rising Prevalence of Cardiovascular Diseases
  • Increasing Geriatric Population and Subsequent Rise in Heart Conditions Worldwide
  • Growing Research and Funding Initiatives from Public and Private Organizations
  • Rising Clinical Studies for Identification of Novel Cardiac Biomarkers

Restraints

  • Technical Issues Related to Sample Collection and Storage
  • Unfavorable Regulatory Processes and Limited Reimbursement Structure

Opportunities

  • Point-Of-Care Testing with Cardiac Biomarkers
  • Ongoing Research on Novel Cardiac Biomarkers for Cardiovascular Diseases
  • Emerging Markets

Challenges

  • Challenges Associated with Biomarker Assay Validation

Companies Mentioned

  • Abbott Laboratories
  • Alfa Scientific Designs, Inc.
  • Atlas Medical GmbH
  • Becton, Dickinson and Company
  • Bio-Rad Laboratories, Inc.
  • Biomerieux Sa
  • Boditech Med Inc.
  • Btnx Inc.
  • Cardiogenics Holdings Inc.
  • Creative Diagnostics
  • Ctk Biotech, Inc.
  • Danaher Corporation
  • Diasorin S.P.A.
  • F. Hoffmann-La Roche AG
  • Guangzhou Wondfo Biotech Co. Ltd.
  • Lifesign LLC
  • Lsi Medience Corporation (Phc Holdings Corporation)
  • Perkinelmer Inc.
  • Quidel Corporation
  • Randox Laboratories
  • Response Biomedical
  • Siemens Healthineers AG
  • Thermo Fisher Scientific Inc.
  • Tosoh Corporation
  • Tulip Diagnostics (P) Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/ule2xa

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Originally published at https://www.prnewswire.com/news-releases/asia-pacific-emerges-as-a-high-growth-region-in-the-cardiac-marker-testing-market-fueled-by-government-investments-and-growing-clinical-laboratories-301984918.html
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