The Cardiac Marker Analyzer Market studied was anticipated to grow with a CAGR of 5.1% during the forecast period. The major factor driving the market is the growing emphasis on preventing misdiagnoses of cardiac conditions across the globe. Rising demand for these products can also be attributed to an increased prevalence of cardiac conditions like myocardial infarction, cardiac heart failure, and others. As per the Global Health And Wellness report published in 2018, cardiovascular diseases (CVDs) are identified as the most common causes of mortality accounting for about 17 million deaths globally each year. Also, the report estimates that the number is expected to increase by over 23.6 million by 2030. Moreover, a rise in awareness about the availability of new products for the diagnosis of cardiovascular diseases is likely boosting the cardiac marker analyzers market.
Key Market Trends
The Immunofluorescence Analyzers Segment is Expected to Hold the Largest Market Share in the Cardiac Marker Analyzers Market
The immunofluorescence analyzers (IFA) segment is expected to account for the highest share in the cardiac marker analyzer market. The dominance in the revenue share can be attributed to their usage as a gold standard for early diagnosis of cardiac diseases compared to other analyzers. The growing demand for these analyzers owing to their ability to quantify the concentration of biomarkers in whole blood, serum, plasma to assist clinical diagnosis. Various types of biomarkers can be tested using these analyzers including cardiac markers Troponin I, NT-proBNP, h-FABP, CK-MB, Myoglobin, and others. Furthermore, the launch of innovative products by major companies that can offer highly sensitive, rapid and accurate results within one-step and auxiliary clinical diagnosis is driving the growth of the segment. Also, the Enzyme Immunoassay (EIA) Analyzers sub-segment is anticipated to grow at the fastest CAGR due to a steep rise in the adoption of these products in the past couple of years. Lucrative growth can be due to their wide range of applications in the determination of anti-nuclear antibodies (ANAs) and other compounds. Their increased preference over other techniques can be due to their enhanced standardization and comparability resulting in efficient analysis avoiding the misdiagnoses. Thereby serving as an alternative to the traditional analyzers, second-generation EIA analyzers are expected to propel the global cardiac marker analyzers market revenue share.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall cardiac marker analyzers market throughout the forecast period. Dominance is due to the rising prevalence of cardiopulmonary and blood disorders such as venous thromboembolism, strokes, and others in the region. Increasing incidence of these cardiac conditions can be due to growing cases of diabetes, obesity, and the presence of a huge population of elder individuals demanding an earlier diagnosis for better treatment. For instance, according to the Journal of American Medical Association report - 2018, about 93.3 million adults over the age of 20 in the United States were obese which is the major cause for cardiopulmonary diseases. As per the report published by the Centers for Disease Control and Prevention in March 2019, the risk of Deep venous thrombosis (DVT)/Pulmonary Embolism (PE) increases with the rise in obesity, people with age over 50. The report also estimates that about 900,000 people in the United States could be affected every year which drives the growth of the market in the region. Also, increasing investment by the key players in Diagnostic R&D sector is driving the growth of the cardiac marker analyzers market.
The cardiac marker analyzers market is moderately competitive and consists of several major players. Few of the key players are entering into partnerships to develop novel methods and test kits while others are increasing their salesforce through partnering with the distributors to increase their market position globally. In October 2017, Abbott acquired Alere Inc, a global manufacturer of rapid point-of-care diagnostics and emerged as one of the leading point of care testing portfolios around the world. Through this acquisition, the company received marketing authorizations across various geographies. Such strategic industrial collaborations impel the global cardiac marker analyzers market growth over the course of the forecast period. Some of the companies which are currently dominating the market are F. Hoffmann-La Roche Ltd, Abbott Laboratories, Quidel Corporation, CardioGenics Holdings Inc., and LSI Medience Corporation.
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Table of Contents
1.2 Study Assumptions
1.3 Scope of the Study
4.2 Market Drivers
4.2.1 Growing Emphasis on Preventing Misdiagnoses of Cardiac Conditions across the Globe
4.2.2 Rise in Global Prevalence of Coronary Heart Diseases, Strokes , and others
4.3 Market Restraints
4.3.1 Stringent FDA Regulations for Delaying the Approvals of Products
4.3.2 Higher Challenges when Testing the Special Patients like Oncology, Geriatrics, and Pregnant women
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5.1.1 Immuno-Fluorescence Analyzers (IFA)
5.1.2 Radioimmunoassay (RIA) Analyzers
5.1.3 Enzyme Immunoassay (EIA) Analyzers
5.2 By End-users
5.2.2 Diagnostic Centers
5.2.3 Academic and Research institutes
5.3.1 North America
220.127.116.11 United states
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
5.3.5 South America
18.104.22.168 Rest of South America
6.1.1 F Hoffmann-La Roche AG
6.1.2 Quidel Corporation
6.1.3 CardioGenics Holdings Inc.
6.1.4 Abbott Laboratories
6.1.5 LSI Medience Corporation
6.1.6 Siemens Healthcare GmbH
6.1.7 Beckman Coulter, Inc.
6.1.8 Trinity Biotech plc
6.1.9 Boditech Med, Inc.
6.1.10 Mitsubishi Chemical Europe GmbH
A selection of companies mentioned in this report includes:
- F Hoffmann-La Roche AG
- Quidel Corporation
- CardioGenics Holdings Inc.
- Abbott Laboratories
- LSI Medience Corporation
- Siemens Healthcare GmbH
- Beckman Coulter, Inc.
- Trinity Biotech plc
- Boditech Med, Inc.
- Mitsubishi Chemical Europe GmbH