At 8.8% + CAGR, Cardiac Marker Testing Market to be worth more than USD 3.50 billion by 2021

The global cardiac marker testing market is estimated to grow at a CAGR of 8.8% from 2016 to 2021 to reach USD 3.50 billion by 2021. Factors such as growing incidences of cardiovascular diseases, the rapidly increasing geriatric population, growing funding from public–private organizations for research on cardiac biomarkers, and ongoing clinical trials for the identification of novel cardiac biomarkers are fueling the growth of the cardiac marker testing market. On the other hand, technical problems related to sample collection and storage and issues related to regulatory and reimbursement systems are the key factors limiting the growth of the global cardiac marker testing market.

 

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Based on the type, the troponin I and T type segment is expected to account for the largest share of the global cardiac marker testing market in 2016. The high sensitivity and specificity of troponin I and T in early detection of cardiovascular diseases is stimulating the growth of this type segment. In addition, the long elevation times and rapid prediction of outcomes is also driving the growth of this market.

 

Geographically, North America commands the largest share of the global cardiac marker testing market in 2016, followed by Europe. The cardiac marker testing market in North America is primarily driven by the increasing incidence of cardiovascular diseases, growing public-private investments, NIH support towards the development of novel cardiac biomarkers, and rising geriatric population.

 

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The global cardiac marker testing market is highly competitive, with a large number of global and local players. As of 2016, the global cardiac marker testing market was dominated by Roche Diagnostics Limited (a subsidiary of F. Hoffman-La Roche Ltd.) (Switzerland), Abbott Laboratories (U.S.), Siemens AG (Germany), Danaher Corporation (U.S.), bioMérieux SA (France), and Alere Inc. (U.S.). Product launches, approvals, and showcases and partnerships and agreements were the major strategies adopted by market players to achieve growth in the cardiac marker testing market.

 

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Lateral Flow Assay Market by Product (Reader Kits) Application (Clinical Testing (Pregnancy Infectious Disease Cholestrol Cardiac Marker) Veterinary Drug Development) Technique (Sandwich Competitive Multiplex) End User - Global Forecast to 2020

The global lateral flow assay market is expected to grow at a strong CAGR of 8.3% during the forecast period of 2015 to 2020 and is estimated to reach USD 6.78 billion by 2020. The growth in this market is majorly driven by the rising geriatric population, high prevalence of infectious diseases, rising usage of home-based lateral flow assay tests, improved focus on decentralized or point-of-care diagnostic testing, and increasing application of lateral flow assay techniques in clinical diagnostics. However, difficulty in obtaining regulatory approvals due to the constantly changing standards, variance in test results, and insufficient reimbursements for lateral flow assay procedures are posing several challenges to the overall growth of the market.

In this report, the lateral flow assay market is segmented based on products, techniques, applications, end users, and region. Based on products, the market is segmented into kits & reagents and lateral flow readers. The lateral flow readers market is subsegmented into digital/mobile readers and benchtop readers. Based on technique, the market is segmented into sandwich assay, competitive assay, and multiplex detection assay. During the forecast period, the sandwich assay segment will continue to dominate the lateral flow assay market. This is primarily attributed to the successful application of this technique in various areas, especially clinical testing.

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