Insights on the Cardiac Marker Analyzer Global Market to 2026 - Rising Government Expenditure on the Healthcare Sector is Driving Growth

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Aug 27, 2021, 16:00 ET

DUBLIN, Aug. 27, 2021 /PRNewswire/ -- The "Cardiac Marker Analyzer Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.

The cardiac marker analyzer market is projected to grow at a CAGR of 4.11% during the forecast period to reach US$1,907.736 million by 2026 from US$1,438.713 million in 2019. Rising instances of cardiovascular diseases and increasing death due to them are the prime reason driving the market growth of cardiac marker analyzers during the forecasted period. According to data provided by the World Health Organization, cardiovascular diseases are the leading cause of death globally. Annually, WHO estimates that 17.9 million people die due to cardiovascular diseases (CVD), which accounts for 30% to 31% of global deaths. 85% of CVD deaths occur due to heart attacks and strokes, while 45% of these deaths occur in lower- and middle-income countries. Hectic lifestyle, heavy workload, and disturbed meal cycles have increases stress and are becoming the leading reason for the rise in cardiovascular diseases among adults.

Growing CVD and deaths has raised severe concerns and increased investment in the healthcare sector by the government. Increased investment is anticipated to raise the market size of the cardiac marker analyzer industry. Cardiac marker significance in the healthcare sector, particularly cardiac troponin, will provide a stable market for cardiac marker analyzers during the forecasted period.

In the healthcare industry, cardiac markers are used to diagnose acute coronary syndrome (ACS) or any other CVD in case the patient is suffering from chest pain or other problems. Cardiac markers are used to locate potential CVD so that timely treatment can save a person's life and keep them healthy. Rising CVD cases and deaths have increased the adoption of these markers in hospitals and clinics for prior detection and early treatment of the patient. Hence, with rising healthcare infrastructure development, a cardiac marker will play a crucial role in the healthcare industry for better diagnosis, with promising market stability.

Among varied cardiac markers, cardiac troponin is anticipated to dominate the market owing to its efficiency and effectiveness in the detection of CVDs. Research from the Heart Org states that cardiac troponin is the prime choice of cardiac marker among patients suffering from ACS. Troponin is based on guidelines of the European Society of Cardiology (ESC) and the American College of Cardiology (ACC) and hence is widely accepted around the world. Troponin earned this recognition owing to superior sensitivity and accuracy in detection. Moreover, these markers provide faster results than other modes.

Rising government expenditure on the healthcare sector will boost the market demand for cardiac marker analyzer.

Increasing investment by the government around the world, in the healthcare sector, will support the market growth of cardiac markers analyzers during the forecasted period. Rising instances of CVDs and other diseases have raised serious concerns which lead to fuelling of the healthcare sector with funds for modern technology for diagnosis and treatment to save lives. Hence it is anticipated that expenditure on cardiac markers technology will also increase at a significant level. Further, technological advancement and automation in the sector will increase the market prospects during the forecasted period. Globally, the average healthcare expenditure is on a rise, increasing from US$ 914.203 per capita in 2010 to US$ 1,110.841 per capita in 2018.

Governments are as well increasing their expenditure for better healthcare and standard of living. The US government is anticipated to increase expenditure from 17.7% of GDP in 2019 to 19.1% by 2028 (source: CMS). The Indian government has also increased the healthcare budget from 1.5% of GDP in 2020-21 to 1.8% of GDP in 2021-22 Union Budget. Furthermore, increasing expenditure on technological advancement and automation will drive the market up, tapping new opportunities. The Japanese government, for example, has invested US$100 million in the development of healthcare and social robots. Similarly, the South Korean government invested US$ 250 million in the innovation of healthcare, rehabilitation, and disaster management robots.

A rise in medical tourism will drive the demand for Asia pacific cardiac marker analyzer market.

On geographical bifurcation, the Asia Pacific region is projected to show exponential growth during the forecasted period. The prime reason driving the growth in this region is the availability of affordable medical services which has significantly increased medical tourism in the region. The Asian region has low-cost but high-quality medial services which are affordable for the general public, particularly in the American and European region. Hence, the region has attracted foreign patients for better medical treatments, raising the demand for medical equipment for effective diagnosis and treatments, driving the market size of cardiac markers. Furthermore, increasing expenditure by the government sector and the emergence of private players have provided a vast market for the industry.

COVID-19 Insights

The coronavirus pandemic positively affected the global cardiac marker analyzer market. To contain the outbreak of the virus, the healthcare sector was fuelled with investment for better treatment of both, covid and non-covid infected persons. Further, the rise in CVD cases and deaths increased more concerns which increased investment for CVD diagnosis and treatment, increasing the industry scope.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.4. Industry Value Chain Analysis

5. Cardiac Marker Analyzer Market, by Cardiac Marker
5.1. Introduction
5.2. Troponin
5.3. Creatine Kinase
5.4. Myoglobin
5.5. Others

6. Cardiac Marker Analyzer Market, by End-Users
6.1. Introduction
6.2. Hospitals and Clinics
6.3. Laboratories
6.4. Ambulatory Surgical Centers

7. Cardiac Marker Analyzer Market, by Geography

8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrative
8.3. Mergers, Acquisition, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix

9. Company Profiles
9.1. Radiometer Medical ApS
9.2. Ardiogenics Inc
9.3. F. Hoffman - La Roche Ltd.
9.4. Abbott
9.5. Beckman Coulter Inc.
9.6. Siemens Healthcare Private Limited

For more information about this report visit https://www.researchandmarkets.com/r/ydnrqt

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