Heart Attack Diagnostics Market - Growth, Trends, COVID-19 Impact, and Forecast(2022 - 2027)

The global heart attack diagnostics market is expected to register a CAGR of 7.9% during the forecast period (2021 - 2026).

The COVID-19 pandemic has significantly impacted the heart attack diagnostics market. There is an increased risk for people suffering from heart diseases to contract the virus, especially those prone to heart attacks, and there is a high probability of death if the virus is not diagnosed on time. Moreover, some of the early symptoms of COVID-19 are aligned with heart attacks, like chest pain, nausea, fatigue, and trouble in breathing. In July 2020, a report published by researchers from the University of Alberta Faculty of Medicine and Dentistry discovered a new blood test for predicting heart attacks in patients with COVID-19. This study proved the relationship between the risk of COVID-19 and people having cardiovascular diseases.

According to a repoty by the World Health Organization, cardiovascular diseases are the main cause of deaths worldwide, and four out of five deaths occur due to cardiovascular diseases like heart attack and strokes. Furthermore, over 13 million deaths occur in low- and middle-income countries every year, and of these, 85% are due to heart attack and stroke. A report from the American Heart Association says that by 2035, around 45% of Americans may have some kind of heart disease (mainly heart attack), which may be a major driving force for the heart attack diagnostic market. The major factors contributing to the high number of cardiovascular diseases are hypertension, high blood cholesterol, and smoking. The proven methods for detecting heart attacks are electrocardiograms, blood tests, angiograms, and computerized cardiac tomography. Recently, the US Food and Drug Administration approved a new high-sensitivity test for a protein, Troponin, for the detection of heart attacks, in which Roche and Abbott are the major players.

Although many factors are likely to drive this market to new levels, a few restraining factors, like the high cost and the lack of awareness, may create hindrances in its path. As this market functions on a global level and low-income countries are involved, diagnostic kits need to be within the budget of the people, and these people should be aware of them. For instance, the Roche Trop T Sensitivity test kit is available for about USD 52 (2020) in India, which is out of reach for many low-income families and not easily available.

Key Market Trends

Rapid Blood Tests like Troponin Expected to Occupy a Significant Market Share

Over the forecast period, the ECG domain may see some high growth rates in low- and middle-income countries, while developed countries may observe a major growth in rapid blood test and enzyme-based diagnostics techniques, like the Troponin T diagnostic kit and the Creatine Kinase MB Isoenzyme (CK-MB) diagnostic technique. These are highly sensitive and rapid tests that give results in an hour or two (the currently available ones provide results in six or seven hours), giving doctors a few extra hours, which may be enough to save a patient's life.

Moreover, the developing countries may not be limited to ECG-based tests only, thereby creating a huge market for rapid blood tests, mainly due to their large populations. For example, India and China witness millions of deaths every year due to cardiovascular diseases. ECG is a more complex system that can only be performed if the patient is physically available. There are no such limitations for blood and enzyme-based diagnostic techniques. In a country like India, where basic healthcare facilities are inaccessible by most of the population, these blood tests can be performed anywhere, such as in mobile hospitals. The Troponin market reached a valuation of USD 1 billion in 2017, and by 2025, it may become a market worth more than USD 2 billion.

North America Expected to Dominate the Market

As per a report by teh US Centers for Disease Control (CDC), every 40 seconds, an American may have a heart attack. The treatment for heart attacks is one of the most expensive ones in US hospitals. According to the American Heart Association, by 2035, around 45% of the United States population is likely to suffer from heart disease, due to factors like high obesity, high smoking, and unhealthy lifestyles, which may lead to heart attacks and other related issues. Thus, North America is expected to dominate the heart attack diagnostics market over the forecast period (2021 - 2026). Some other reasons that may be a factor in this are the quality healthcare infrastructure and the high scope for innovation.

In Canada, the number of deaths due to heart attacks and cardiovascular diseases are as low as 189 people out of every 100,000 (2019), out of which the rate of deaths due to heart attacks is low. On the other hand, in Mexico, the death rate due to heart attacks and cardiovascular diseases is high. Around 24% of all deaths in Mexico are due to cardiovascular diseases, mainly because of the high level of consumption of tobacco and alcohol, and poor health infrastructure.

Competitive Landscape

The heart attack diagnostics market is expected to be highly competitive, with several key players in the market. New rapid and portable (flexible) blood and enzyme-based tests may dominate the market and create innovations in these domains. Moreover, innovations in the ECG technique may be a game-changer for low-income countries and severe heart-related diseases. Some major players include Siemens Healthcare GmbH, Schiller AG, GE Healthcare, Hitachi Medical Systems, and F Hoffmann-La Roche Ltd.

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