Global cardiac biomarker market is expected to show significant growth over the forecast period due to rising incidences of cardiovascular diseases, geriatric population base, increasing obesity rates and demand for early diagnosis. Additionally, increasing adoption of personalized medicines, growing importance of companion diagnosis are the factors further propelling the growth of cardiac biomarker market. Similarly, introduction of novel biomarkers such as S-100, H-FABP, Urotensin II and GPBB, technological advancements in molecular diagnostics and increasing R&D pertaining to cardiac biomarker are anticipated to provide growth platform to this market in coming seven years.
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The cardiac biomarker market is segmented on the basis of type of biomarkers, type of assay, disease conditions, applications and diagnosis. Cardiac biomarkers are classified into enzymatic and non enzymatic biomarkers. Increasing adoption rates of omics technology augmenting the demand for genomics and proteomics technologies are expected to grow over the forecast period thereby fueling the growth of cardiac biomarker market over the forecast period. Cardiac biomarker application segment includes myocardial infarction, acute coronary syndrome, atherosclerosis and congestive heart failure. Congestive heart failure market segment is expected to gain popularity owing to the increasing application of cardiac biomarkers in the diagnosis and treatment of the same.
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North America was the largest regional market in 2014 owing to the presence of sophisticated healthcare infrastructure, increasing prevalence of lifestyle associated diseases and supportive government policies in the U.S. European regional market followed North America due to improved healthcare facilities. Asia Pacific regional market is expected to grow over the forecast period due to improving healthcare infrastructure, supportive government initiatives towards R&D and increasing number of incidences of cardiovascular diseases. Presence of high untapped opportunities, rising number of Contract Research Organizations (CRO) and Low cost of clinical trials in Asia pacific regions are the factors propelling the growth of regional cardiac biomarker market. Major market players are Medtronic, Abbott laboratories, Ortho-clinical diagnostics, Eli Lilly and Company, Roche Diagnostics Corporation Inc., Biosensors International Ltd. and others. Companies are adopting competitive strategies such as partnerships, merger and acquisitions, research & development and product portfolio. Roche Diagnostics launch Cobas-H232 (handheld cardiac marker system ii-38) as a product portfolio expansion strategy.
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