Point-of-Care Testing (POCT) segment to Offer Growth Opportunities for Players in the Cardiac Marker Testing Market

 In the last decade, the cardiac marker testing market has witnessed significant technological advancements and robust product developments. The global cardiac marker testing market is projected to grow at a CAGR of 8.8% in the forecast period. Geographically, this market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).

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North America and a major part of Europe are mature markets for cardiac biomarkers. The North American cardiac marker testing market is expected to account for the largest share of the cardiac marker testing market in 2016, owing to increasing incidences of cardiovascular diseases, growing public-private investments, NIH support towards the development of novel cardiac biomarkers, and rising geriatric population. However, the Asia-Pacific region is expected to register the highest growth for the cardiac marker testing market during the forecast period. Growth in this market is fueled by the rising prevalence and incidence of cardiovascular diseases and public-private initiatives to increase awareness about early cardiac disease diagnosis.

Emerging markets such as India and China offer significant growth opportunities for the cardiac diagnostics market owing to the growing patient population due to the increasing burden of cardiovascular diseases in these countries. A research study published by the American Heart Association states that with risk factors remaining constant, annual cardiovascular events in China were projected to increase by more than 50% from 2010 to 2030. According to the Centre for Global Dialogue, Swiss Re, cardiovascular diseases accounted for 29% of all deaths in India in 2005; this is projected to increase to 36% by 2030. 

  

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A number of players involved in the cardiac marker testing market are focusing on product launches and showcase as their key growth strategy to expand their product portfolio and revenues. 

The key players operating in the cardiac marker testing market are Roche Diagnostics Ltd. (Switzerland), Abbott Laboratories (U.S.), Siemens AG (Germany), Danaher Corporation (U.S.) Alere, Inc. (U.S.), bioMérieux SA (France), LSI Medience Corporation (a subsidiary of Mitsubishi Chemical Holdings Corporation, Japan), Ortho Clinical Diagnostics (a subsidiary of The Carlyle Group, U.S.), Randox laboratories Ltd (U.K.), and Guangzhou Wondfo Biotech Co., Ltd. (Wondfo) (China).