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Projected Use of Advanced Technologies to Boost the Growth of Cardiac Biomarkers Market

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Gauri Cmi
Projected Use of Advanced Technologies to Boost the Growth of Cardiac Biomarkers Market


The global Cardiac Biomarkers Market is estimated to be valued at US$ 9836.55 Mn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Cardiac biomarkers refer to the substances released into the bloodstream when the heart muscle is damaged or stressed. Common cardiac biomarkers include troponin, creatine kinase (CK-MB), myoglobin, heart-type fatty acid binding protein (H-FABP), and ischemia modified albumin (IMA). Cardiac biomarkers are useful for the diagnosis of myocardial infarction and other acute coronary syndromes. They provide objective evidence of myocyte injury and are more sensitive and specific than electrocardiograms or cardiac imaging tests. Advantages of cardiac biomarkers include early detection of heart damage within hours of the onset of symptoms and ability to determine risk stratification in patients presenting with chest pain.

Market key trends:

One of the key trends in the cardiac biomarkers market is the increasing use of advanced technologies such as lab-on-a-chip devices and biosensors. Lab-on-a-chip devices offer multiplexing capability which allows for simultaneous detection of multiple biomarkers on a single platform. This enhances diagnostic accuracy. Biosensors leverage antibody-based recognition for highly sensitive and specific detection of cardiac biomarkers. Advanced detection methods enable early diagnosis, improve patient outcomes, and drive the demand for cardiac biomarkers.

Porter’s Analysis

Threat of new entrants: The Cardiac Biomarkers Market Growth requires high R&D investments and has stringent regulatory requirements. This limits the threat of new entrants.

Bargaining power of buyers: The bargaining power of buyers is moderate as there are several players operating in the market offering a variety of cardiac biomarker testing options.

Bargaining power of suppliers: Major suppliers in this market include companies providing raw materials, products and services. The bargaining power of suppliers is low due to the fragmented nature of inputs and services.

Threat of new substitutes: There is a low threat from substitutes as cardiac biomarkers have well-established clinical applications in diagnosis and management of cardiovascular diseases.

Competitive rivalry: The cardiac biomarkers market is highly competitive due to presence of major players. Market players compete on factors like pricing, innovation and customer service.

Key Takeaways

The global cardiac biomarkers market is expected to witness high growth, exhibiting CAGR of 10% over the forecast period, due to increasing prevalence of cardiovascular diseases. North America is expected to dominate the cardiac biomarkers market throughout the forecast period owing to rising geriatric population, growing prevalence of CVDs and availability of advanced healthcare facilities in the region.

Regional analysis

Europe is expected to show high growth in the cardiac biomarkers market over the coming years owing to increasing healthcare investments, raising awareness about cardiovascular diseases, and growing research activities in the region.

Key players

Key players operating in the cardiac biomarkers market are Abbott Laboratories, F. Hoffmann-La Roche AG, Thermo Fisher Scientific Inc., Bio-Rad Laboratories, Inc., Danaher Corporation, Randox Laboratories Ltd., Siemens Healthineers, and BioMérieux SA. Abbott Laboratories offers a wide range of cardiac biomarker tests and analyzers like Alinity ci-series and ARCHITECT i1000SR.

 

Read More: https://www.trendingwebwire.com/cardiac-biomarkers-market-analysis-and-size/


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Gauri Cmi
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