Global Cardiac Markers Market is Forecast to Exceed $1 billion by 2017
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The global cardiac markers market is forecast to exceed $1 billion by 2017, growing at a Compound Annual Growth Rate (CAGR) of 6% during 2010-2017. The global cardiac markers market expects to grow due to increasing incidence of cardiovascular diseases. The market is also expected to be driven by increased emphasis on Point of care testing (POCT), new and innovative products in the pipeline and cost-cutting measures such as laboratory automation. Increasing awareness of early detection and screening of cardiovascular diseases is also contributing to the growth of cardiac markers market.
US is the Biggest Cardiac Markers Market
The US is the biggest market for cardiac markers. The US market was valued at $209m in 2010 and expected to grow at a CAGR of 6% to reach $320.6m in 2017, contributing 30% towards the global cardiac markers market. The market is expected to receive a boost from the recent advancements in the field of cardiac marker analysers. However the market is focusing towards cost-effective diagnostic tests because of the market’s low reimbursement level and rising pressure on the healthcare infrastructure to reduce the prices of the testing. Thus, POCT is increasingly used in order to reduce the cost of diagnosis, time of intervention and the number of patients admitted to coronary care units.
F.Hoffmann-La Roche, Abbott Laboratories, Siemens, Alere and Beackman Coulter were the leading companies in the cardiac markers market in 2010. These top companies accounted for 66% of the market. Roche was the market leader with a 21% share of the market and is expected to maintain its leadership position in the future with a strong pipeline of products.
The global market for cardiac markers is quite fragmented due to the presence of a number of small players. However, a large number of acquisitions of the smaller players by the market leaders is resulting in the consolidation of the market.
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Increasing Incidence of Cardiovascular Diseases is Driving the Cardiac Markers Market
The increasing number of instances of cardiovascular diseases (CVD) around the world is the major driver of the cardiac markers market. To detect the
Point of Care Testing (POCT) is Altering the Cardiac Markers Market Landscape
POCT is having a significant impact on patient care management, as this new technology is providing accurate results more quickly than previously possible. The development of integrated chip devices such as the Lab-On-A-Chip (LOC) and microfluidics based diagnostic devices will improve molecular diagnostic testing in the future. POC cardiac markers help in enabling a greater proportion of patients to be successfully discharged after emergency department (ED) assessment as any necessary diagnosis can be done remotely. There are many organizations which are developing POCT for cardiac markers as it is a growing market in the cardiac markers sector.
Lab-on-Chip and Use of Predictive Markers for Personalized Medicine are the New Trends in the Cardiac Markers Market
LOC devices are cost-effective, convenient for physicians as they can perform
There is one more trend which is affecting every healthcare market; personalized medicine. It involves the systematic use of genetic or other information about an individual patient to select or optimize that patient's
preventative and therapeutic care. With the help of this technique physicians are predicting the best treatments for heart disease with the help of predictive markers.
GlobalData’s new report, “Cardiac Markers - Global Pipeline Analysis, Competitive Landscape and Market Forecasts to 2017” provides key data, information and analysis on the global cardiac markers market. The report provides market landscape, competitive landscape and market trends information on the cardiac markers market. The report provides comprehensive information on the key trends affecting the market, and key analytical content on the market dynamics. The report also reviews the competitive landscape and technology offerings.
This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts.
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