What Fueled The Previous Growth In The Cardiac Troponin Market?
The cardiac troponin market has seen considerable growth due to a variety of factors.
• The market size of cardiac troponin has experienced a substantial expansion recently. Its growth is projected to accelerate from $3.85 billion in 2024 to $4.25 billion in 2025, given a compound annual growth rate (CAGR) of 10.6%.
Several factors have contributed to the historic growth of this market, including a growing incidence of cardiovascular illnesses, heightened awareness and anticipatory diagnosis of heart disease, the advancement of healthcare infrastructure in developing markets, an increase in the aging population, and the introduction of high-sensitivity cardiac troponin tests.
How Does the Forecast Look for the Cardiac Troponin Market?
The cardiac troponin market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of cardiac troponin is predicted to experience swift expansion in the upcoming years. It is set to rise to $6.32 billion in 2029, with a 10.4% compound annual growth rate (CAGR). The surge in the predicted period can be credited to factors such as the increasing occurrence of cardiovascular conditions related to lifestyle, the expansion of cardiac care units in several hospitals, an increase in the acceptance of home healthcare, growth in personalized medicine, and a need for more efficacious and economical diagnostic solutions. In the forecast period, significant trends include the utilization of machine learning algorithms for data interpretation in cardiac care, the growing applications of cardiac troponin beyond just acute coronary syndrome, advancements in multiplex testing that allows concurrent analysis of biomarkers, the creation of novel biomarkers alongside troponin, and personalized medicine.
What Are The Leading Drivers Of Growth In The Cardiac Troponin Market?
The cardiac troponin market is anticipated to expand due to the rising incidences of cardiovascular diseases. These heart conditions include factors like heart failure, arrhythmias, congenital heart defects, and coronary artery disease that impact heart structure and function. This rise in heart diseases can be attributed to aging, sedentary lifestyle, unhealthy eating habits, and increasing obesity and hypertension cases. Cardiac troponin plays a critical role in heart conditions diagnosis as it is a sensitive biomarker that detects heart muscle damage, especially during heart attacks and other heart-related incidents. The Report on Registration of Births and Deaths 2023 indicates that there were 5,302 deaths due to ischemic heart diseases, as reported by the Registry of Births and Deaths, Immigration and Checkpoints Authority, Singapore, and Ministry Of Health. This figure shows a minor increment from the 5,290 deaths recorded in 2022. Therefore, the escalating prevalence of heart diseases will spur the growth of the cardiac troponin market.
How Are The Segments Defined Within The Global Cardiac Troponin Market?
The cardiac troponinmarket covered in this report is segmented –
1) By Type: Troponin I, Troponin T
2) By Location Of Testing: Laboratory Setting, Point Of Care (Poc) Testing
3) By Application: Acute Coronary Syndrome, Myocardial Infraction, Congestive Heart Failure, Other Applications
4) By End User: Hospitals, Diagnostic Centers, Homecare Setting, Other End Users
Subsegments:
1) By Troponin I: Cardiac Troponin I (cTnI), Muscle Troponin I
2) By Troponin T: Cardiac Troponin T (cTnT), Skeletal Troponin T
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What Emerging Trends Are Influencing The Growth Of The Cardiac Troponin Market?
Leading firms within the cardiac troponin market are focusing their efforts on the advancement of new technologies, such as human serum-based quality control, in a bid to guarantee precise and dependable high-sensitivity troponin testing through multi-analyte controls. This method of quality control in cardiac troponin testing uses human serum with identified troponin concentrations to corroborate the efficacy of the assay. For instance, in May 2023, Bio-Rad Laboratories, Inc., a biotechnology research organization based in the US, launched Cardiac Advance. This control is specifically created for high-sensitivity troponin testing and spans four levels of multi-analyte quality. Available in InteliQ 3-mL tubes, Liquichek 3-mL standard, and 2.5-mL compact vials, these liquid controls based on human serum consist of 10 cardiac analytes such as troponin, CK-MB, BNP/proBNP, and myoglobin. They are compatible with testing platforms from Siemens and Roche and available for purchase in the U.S., Europe, and certain Asian markets.
Who Are the Key Players In The Cardiac Troponin Market?
Major companies operating in the cardiac troponin market are:
• F. Hoffmann-La Roche Ltd.
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Merck KGaA
• Siemens Healthineers AG
• Becton Dickinson and Company
• Laboratory Corporation of America Holdings (Labcorp)
• Zoetis Inc.
• bioMérieux SA
• Beckman Coulter Inc.
• QuidelOrtho Corporation
• Sysmex Corporation
• Bio-Rad Laboratories Inc.
• Shenzhen Mindray Bio-Medical Electronics Co. Ltd.
• Radiometer Medical ApS
• Randox Laboratories Ltd.
• Fujirebio Diagnostics Inc.
• Meso Scale Diagnostics LLC.
• Singulex Inc.
• Diazyme Laboratories Inc.
• Response Biomedical Corporation
• Eurolyser Diagnostica GmbH
• LifeSign LLC
What Is The Most Dominant Region In The Cardiac Troponin Market?
North America was the largest region in the cardiac troponin market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cardiac troponin market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
