Global demand for cardiac marker analyzers is projected to witness over 4.5% year on year growth in 2019. As indicated by Persistence Market Research in a newly published research intelligence study, North America remains the top consumer market for cardiac marker analyzers manufacturers, and the region’s market value is projected to cross US$ 285 million in 2019.
Expanding Geriatric Population and Obesity
Nearly 17% of the global population will be above 65 years of age by the end of 2050, as projected by NIH (National Institutes of Health). Whereas, WHO (World Health Organization) indicates that around 13% of the worldwide population is currently suffering from obesity. While both the aforementioned factors intersect at a higher risk of acquiring cardiovascular diseases, it is more likely that the adoption of cardiac market analyzers will be on the rise in coming years.
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The growing need for early detection of rapidly prevailing CVDs such as myocardial infarction and angina pectoris is likely to push prospects for cardiac marker analyzers in the near future. A rising trend of individualized treatment and real-time results targeting early patient diagnostics is playing a crucial role popularizing the demand for cardiac marker analyzers.
With ascending significance of disease management, the devices that help manage the disease progression rate are gathering significant momentum in recent years – subsequently encouraging sales of cardiac marker analyzers.
Laboratory diagnostics are identified to hold promising opportunities for manufacturers based on developing economies such as India, China, Brazil, and Japan. These emerging markets are projected to remain highly attractive owing to the briskly progressing R&D platform.
Drug Development Related Opportunities
Growing use of cardiac marker analyzers in drug development as well as lab diagnostics continues to stimulate innovation and adoption, indicates the report.
“Visibly growing preference for Troponin over other conventional markers in diagnosis of heart attack is the key trend shaping the revenue growth of cardiac marker analyzers landscape,” explains the analyst at the company. Adding further, “The remarkable inadequacy in existing drug development processes for CVDs is another strong factor broadening the scope for penetration of cardiac marker analyzers at a global level,” says the analyst.
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While around 80% share of the global revenue through sales of cardiac marker analyzers belongs to the top industry players, the rest is covered by a number of smaller companies that currently operate at a local or regional level.
- Siemens AG
- Radiometer Medical
- Abbott Laboratories
- Quidel Corporation
- Beckman Coulter, Inc.
- Boditech Med Inc.
- F. Hoffmann-La Roche Ltd
- Creative Diagnostics
Earlier this year, Beckman Coulter Inc. (Danaher Corporation) received the clearance approval by Health Canada for the new high-sensitivity troponin (hsTnI) assay. More recently, Siemens AG launched the Troponin test kit that has been a key marker used diagnosing heart attack.
Besides M&A, strategic collaborations with local distributors, suppliers, wholesalers, and retailers is also likely to remain one of the key strategies of competitors in cardiac marker analyzers landscape. Several leading companies are also signing contractual agreements with channel partners such as associations and universities over the manufacturing of cardiac market test kits.
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North America and Europe Remain Top Markets
At an estimated 5% yearly growth in 2019, North America remains the top performing market for cardiac marker analyzers. While chemiluminiscence immunoassay (CLIA) analyzers account for more than 30% share of the region’s total revenue, whereas diagnostic centers continue to make up for over half of the market value of the region.
Enzymeimmunoassay (EIA) analyzers are however projected for highly attractive investment opportunities in coming years.
Europe’s market, the second largest consumer of cardiac marker analyzers, is predominantly driven by chemiluminiscence immunoassay (CLIA) analyzers, followed by MICA analyzers i.e. presumably the most lucrative segment for key players.