The global demand for cardiac marker analyzers is expected to testify over 4.5% year According to Persistence Market Research in a recently published Research Intelligence study, North America remains the top consumer market for cardiac marker analyzer manufacturers and the region is expected to have market value exceeding itself $ 285 million in 2019.
Expansion of the geriatric population and obesity
Almost 17% of the world’s population will be over 65 years old by the end of 2050, as predicted by the National Institutes of Health (NIH). While the WHO (World Health Organization) states that around 13% of the world’s population currently suffer from obesity. While both of the above factors overlap with a higher risk of cardiovascular disease, it is more likely that the adoption of cardiac market analyzers will increase in the years to come.
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- Siemens AG
- Radiometer Medical
- Abbott Laboratories
- Quidel Corporation
- Beckman Coulter, Inc.
- Boditech Med Inc.
- F. Hoffmann-La Roche Ltd.
- Creative diagnosis
The growing need for early detection of rapidly prevalent CVDs such as myocardial infarction and angina pectoris should increase the prospects for cardiac marker analyzers in the near future. An increasing trend towards individualized treatments and real-time outcomes aimed at early patient diagnosis is playing a critical role in spreading the demand for cardiac marker analyzers.
With the increasing importance of disease management, the devices that help control the course of the disease have become significantly more important in recent years – and subsequently promote the sale of cardiac marker analyzers.
Laboratory diagnostics offer promising opportunities to manufacturers in developing countries such as India, China, Brazil and Japan. These emerging markets are expected to remain extremely attractive due to the rapidly advancing R&D platform.
Drug development opportunities
The increasing use of heart marker analyzers in drug development and laboratory diagnostics continues to stimulate innovation and acceptance, the report says.
“The noticeably growing preference for troponin over other conventional markers in the diagnosis of heart attacks is the main trend that is shaping sales growth in the landscape of heart marker analysis devices,” explains the company’s analyst. “The notable inadequacy of existing drug development processes for CVDs is another major factor that increases the scope for cardiac marker analyzer penetration on a global scale,” said the analyst.
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While around 80% of global sales from cardiac marker analyzer sales are among the top players in the industry, the rest is covered by a number of smaller companies currently operating at a local or regional level. Abbott Laboratories, Beckman Coulter, Inc., F. Hoffmann-La Roche Ltd., Siemens AG, and a few others are detailed in the PMR report.
Abbott acquired St. Jude Medical last year with the aim of capitalizing on the latter’s strong global position in thriving cardiac areas such as heart failure, atrial fibrillation, structural heart, and chronic pain complement.
Earlier this year, Beckman Coulter Inc. (Danaher Corporation) received Health Canada approval for its new highly sensitive troponin (hsTnI) test. Siemens AG recently launched the troponin test kit, which serves as a key marker for diagnosing heart attacks.
In addition to mergers and acquisitions, strategic collaboration with local dealers, suppliers, wholesalers and retailers is likely to remain one of the key competitive strategies in the cardiac marker analyzer landscape. Several leading companies are also signing contractual agreements with distribution partners such as associations and universities to manufacture test kits for the heart market.
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North America and Europe remain top markets
With an estimated 5% annual growth in 2019, North America remains the top performing cardiac marker analyzer market. While chemiluminescent immunoassay (CLIA) analyzers account for more than 30% of total sales in the region, diagnostic centers continue to account for more than half of the region’s market value. Enzyme immunoassay (EIA) analyzers, however, are predicted to be extremely attractive investment opportunities in the coming years.
The European market, the second largest consumer of cardiac marker analyzers, is primarily driven by CLIA (chemiluminiscence immunoassay) analyzers, followed by MICA analyzers, which is probably the most lucrative segment for key players.
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