The World Health Organization stated that nearly 31% of all global deaths, i.e., 17.9 million people, died from cardiovascular diseases in 2016. Among these, about 85% deaths are caused due to heart attack. The rise in geriatric population and their vulnerability towards various acute and chronic diseases, especially of the heart is promoting the cardiac troponin market growth, predicts Fortune Business Insights in their new report. Cardiac troponins are certain sensitive indicators of damage to the myocardium (heart muscle) and are measured in the blood. They are used for differentiating between myocardial infarction (heart attack) and unstable angina among people complaining about chest pain or having the acute coronary syndrome.
As per a report by Fortune Business Insights, titled “Cardiac Troponin Market Size, Share and Global Trend By Type (Troponin T, Troponin I), By Site Of Testing (Laboratory-based, Point-of-care), By Application (Acute Coronary Syndrome, Myocardial Infarction, Congestive Heart Failure), By End User (Hospitals, Diagnostic Centers, Homecare Settings) and Geography Forecast till 2026,” the market is categorized on the basis of application, site of testing, type, end-user, and geography. Based on type, the cardiac troponin market is grouped into Troponin I and Troponin T, out of which Troponin T dominated the market in 2018, and is presumed to continue dominating the market in the forecast period. This is attributable to the low cost of troponin test, coupled with, the implementation of the Patient Protection and Affordable Care Act (ACA) in various regions across the world.
All information provided in the report on cardiac troponin market is gathered from trusted sources. The report highlights major trends and opportunities that will prove beneficial for the market growth. It also discusses major growth drivers and restraints with interesting insights that will not only help market players gain a competitive edge but also help to generate major revenues in the forecast duration.
Surge in Cardiovascular Disease Cases to Help Promote Growth of Market
The increasing cases of cardiovascular diseases and the need to diagnose them are one of the major factors boosting the global cardiac troponin market. There is a surge in demand for cardiac biomarkers to treat cardiovascular diseases and this will also help to generate cardiac troponin market revenues in the coming years. Besides this, the surge in prevalence of acute coronary syndrome will also help the market gain traction, since patients with acute critical heart conditions need quicker diagnosis and faster results. This further increase the demand for advanced cardiac troponins, and their increasing demand will thus, bring promising growth to the market globally.
On the contrary, factors such as inadequate reimbursement policies, especially in developing nations, may restrict the cardiac troponin market growth. Besides this, the lack of skilled professionals needed to collect samples may also cause hindrance to the market in the forecast duration.
Improving Healthcare Facilities to Aid in Expansion of Market in Asia Pacific and Europe
Geographically, the global cardiac troponin market growth in North America is seen to be dominant owing to the presence of major players and presence of advanced technology in developed nations such as Canada and the United States. On the other side, the rising prevalence of cardiovascular diseases, and improving healthcare and medical infrastructure and technological advancement in Europe and the Asia Pacific are likely to help these regions rise significantly. This, accompanied by the increasing per capita income of people and their willingness to spend more on better healthcare facilities will also help the market attract high revenues in near future.
Launch of Biomarkers for Treating Heart Problems to Help Intensify Market Completion
As per the report, companies functioning in the global cardiac troponin market include:
- BioMérieux SA.
- Hoffmann-La Roche Ltd
- Beckman Coulter, Inc.
- Eurolyser Diagnostica GmbH
- Tulip Diagnostics (P) Ltd
- Siemens Healthcare GmbH
- Response Biomedical Corp.
- LSI Medience Corporation
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