The Cardiac Biomarker Diagnostic Test Kits Market size is projected to be worth USD 1,950 million in 2023. The market is expected to surge at a CAGR of 5.1% during the forecast period 2023 to 2033 and, reach USD 3,206.73 million by 2033.
Key Market Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Cardiac Biomarker Diagnostic Test Kits Market Estimated Size in 2023 | USD 1,950 million |
| Projected Market Value in 2033 | USD 3,206.73 million |
| Value-based CAGR from 2023 to 2033 | 5.1% |
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The cardiac biomarker diagnostic test kits demand rose at a 4.5% CAGR between 2018 and 2022. The global cardiac biomarker diagnostic test kits market revenue is anticipated to grow at a moderate CAGR of 5.1% over the forecast period 2023 to 2033.
| Report Attribute | Details |
|---|---|
| Market Value in 2018 | USD 1,509.41 million |
| Market Value in 2022 | USD 1,800 million |
| CAGR from 2018 to 2022 | 4.5% |
The cardiac biomarker diagnostic test kits market growth has been steady during the historical period. Factors such as the rising incidence of cardiovascular diseases, an aging population, and increased awareness of early disease detection drove market expansion.
Technological advancements in biomarker assays, including high-sensitivity tests, improved accuracy and aided in early disease diagnosis. The adoption of point-of-care testing also increased, allowing for rapid results and improved patient care. The market witnessed consolidation through mergers and acquisitions. It was a period of growth and development.
The cardiac biomarker diagnostic test kits market is expected to continue its growth trajectory over the upcoming years. Factors such as an aging global population, increased lifestyle-related diseases, and the demand for personalized medicine are anticipated to drive market expansion.
High-sensitivity assays and multi-biomarker panels will become more prevalent, further improving diagnostic accuracy. The market is assumed to witness a surge in point-of-care testing, enabling quicker diagnosis and better patient outcomes.
Continuous innovation, including the integration of artificial intelligence and machine learning, are poised to enhance diagnostic capabilities. Regulatory standards will become more stringent, ensuring the quality and safety of products. The market is poised for robust growth in the forecasted period.
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The below table showcases revenues in terms of the top 5 leading countries, spearheaded by the United States and India. These two countries are expected to lead the market through 2033, with sizes of USD 950 million and USD 970 million.
| The United States | USD 950 million |
|---|---|
| India | USD 970 million |
| Brazil | USD 861 million |
| Germany | USD 820 million |
| The United States | 5% |
|---|---|
| India | 5.2% |
| Brazil | 4.9% |
| Germany | 4.7% |
The cardiac biomarker diagnostic test kits market in India is expected to reach a value of USD 970 million. The market in India is poised to expand at a CAGR of 5.2% through 2033.
According to the study, consumption of cardiac biomarker diagnostic test kits in India is expected to grow significantly throughout the projection period. The region's growth is being pushed by the country's expanding obesity incidence, which has led to a number of cardiovascular ailments.
Based on the World Health Organization, approximately 4.77 million persons in India suffer from cardiac conditions, with overweight causing angina pectoris in approximately 3.1% of the population.
To reduce the burden of sickness, the Government of India is launching a number of efforts to raise knowledge in rural regions. In June 2021, the government implemented money and self-service medical ATMs in rural areas, which provide health screenings for cardiology, neurology, and other specialties.
To meet the expanding patient population, various government and private healthcare organizations and testing centers are using cardiac biomarkers diagnostic test kits.
The United States is expected to reach USD 950 million by 2033, increasing at a CAGR of 5%. According to the Centers for Disease Control and Prevention, chest pain is a regular medical facility visit in the United States, accounting for 8-10 million visits per year. The key element fueling market demand is the nation's escalating prevalence of cardiovascular illnesses and overweight rate.
According to the World Health Organization, an expanding population of obese people is at a greater risk of acquiring cardiovascular illnesses, offering prospects for the cardiac biomarker diagnostic test kits market in the United States. The United States market is estimated to hold more than one-third of the worldwide market share by the end of 2033.
The cardiac biomarker diagnostic test kits market revenue in Brazil is set to reach USD 861 million by 2033. From 2023 to 2033, the country is likely to register a 4.9% CAGR.
According to FMI, the Latin American market would grow slowly through 2023 due to a lack of understanding about the advantages of cardiac biomarker diagnostic test kits.
As the incidence of cardiovascular disorders in Brazil rises, consumption for these diagnostic test kits is likely to rise in the coming years. According to WHO, the mortality rate from heart failure is rising, accounting for more than 15.60% of total fatalities in the country.
To slow the rate of increase, the government and healthcare organizations are implementing preventative initiatives to educate the public about the positive outcomes of these test kits. As an outcome of these elements, the market for cardiac biomarker diagnostic test kits in Brazil is predicted to grow through 2033.
Europe Cardiac biomarker diagnostic test kits market is taking a turn for the better. A 4.7% CAGR is forecast for the Germany from 2023 to 2033.
Germany, like many developed nations, faces an increasing burden of cardiovascular diseases (CVDs) due to factors such as an aging population and lifestyle choices. This growing CVD prevalence fuels demand for cardiac biomarker diagnostic test kits, as early detection and monitoring become crucial.
Germany's well-established healthcare system is supported by government initiatives aimed at improving healthcare quality and access. These initiatives may encourage the integration of cardiac biomarker tests into routine screenings and treatment protocols.
Germany is home to a robust pharmaceutical and biotechnology industry, fostering collaborations between diagnostic companies and research institutions. This synergy promotes the development of innovative biomarker panels and diagnostic solutions.
The trend toward personalized medicine in Germany aligns with the cardiac biomarker market, as tailored diagnostic approaches become more relevant. This can lead to the development of specialized diagnostic tools catering to individual patient profiles.
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The below table highlights how angina pector is projected to lead the market in terms of indications, growing at 4.9% CAGR through 2033. The diagnostic laboratories segment is likely to spearhead sales based on end user, and is anticipated to witness a CAGR of 6% through 2033.
| Category | CAGR from 2023 to 2033 |
|---|---|
| Angina Pector | 4.9% |
| Diagnostic Laboratories | 6% |
In terms of revenue, the angina pector sector is predicted to be the most profitable based on prevalence. According to FMI, sales of cardiac biomarker diagnostic test kits for angina pectoris are expected to rise at a CAGR of 4.9% by the year of 2023.
The rising frequency of coronary heart disease has increased the number of occurrences of angina pectoris/chest pain, particularly among the elderly. According to the World Health Organization, almost 17 million people died from cardiovascular disorders in 2019. Around 20% of those were identified with angina pectoris.
As youngsters consume more unhealthy foods, the prevalence of angina pectoris has increased. As a result, the popularity of cardiac biomarker diagnostic test kits is predicted to rise in order to meet the rising patient population.
The diagnostic laboratories sector is likely to lead the field with regard to end users. With a rising incidence of cardiovascular diseases, the patient population in diagnostic centers for cardiovascular disease diagnosis has grown throughout the years.
Demand for cardiac biomarker diagnostic test kits in diagnostic laboratories is predicted to rise. According to the research, sales from the diagnostic laboratories segment is predicted to reach USD 998 million by the year of 2033, with the segment growing at a 6% CAGR.
To achieve a competitive advantage, leading players are focused on strategic relationships with universities and manufacturing. To meet rising demand, several manufacturers are releasing novel items and investing extensively in studies and development to create sophisticated cardiac biomarkers.
| Attribute | Details |
|---|---|
| Estimated Market Size in 2023 | USD 1,950 million |
| Projected Market Valuation in 2033 | USD 3,206.73 million |
| Value-based CAGR 2023 to 2033 | 5.1% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD billion |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; The Middle East & Africa |
| Key Market Segments Covered | Product Type, Indication, End User, Region |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Germany, The United Kingdom, France, Spain, Italy, Russia, Poland, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC countries, South Africa, Israel |
| Key Companies Profiled | Abbott Laboratories; Danaher Corporation; Bio-Rad Laboratories; Thermo Fisher Scientific, Inc.; Becton, Dickinson and Company; F. Hoffmann-La Roche Ltd.; Siemens AG; BioMérieux SA; Randox Laboratories Ltd.; Others |
The cardiac biomarker diagnostic test kits market is expected to reach USD 1,950 million in 2023.
The market for cardiac biomarker diagnostic test kits is set to expand by a CAGR of 5.1% by 2033.
The cardiac biomarker diagnostic test kits industry is forecast to reach USD 3,206.73 million by 2033.
India is likely to be the top performing market, accounting for USD 970 million in 2033.
Diagnostic laboratories is leading end user, expected to rise at a 6% CAGR through 2033.
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Cardiac Biomarker Diagnostic Test Kits Market
