Global Market for In Vitro Cardiac Biomarkers to Reach $7.2 Billion in 2018; China is Fastest Growing Market With 18.6% CAGR
Wellesley, Mass. (PRWEB) April 01, 2014 -- BCC Research (http://www.bccresearch.com) reveals in its new report, CARDIAC BIOMARKERS: TECHNOLOGIES AND GLOBAL MARKETS, the global market for in vitro diagnostic tests for cardiac biomarkers is expected to grow to $7.2 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 12.8%. China is the fastest moving market growing at a 18.6% CAGR.
Driven by the development of new congestive heart failure biomarkers, approvals of stroke biomarkers, and the growing market in point-of-care testing, the largest regional segment for this market is the United States, which is expected to grow to $3.1 billion by 2018 at a CAGR of 9.6%.
However, increasing access to advanced medical care in the emerging economies is shifting the greater market toward China, which is projected to grow from $798 million in 2013 to nearly $1.7 billion by 2018.
“The market leader in 2012 was the U.S., followed by Europe and China,” says BCC Research biotechnology analyst Cheng-Yuk Lee. “However, with the ever-expanding medical infrastructure and services in China, the Chinese market is expected to grow at the fastest pace and take over Europe as the second largest segment by 2018.”
Cardiac Biomarkers: Technologies and Global Markets provides a comprehensive analysis of the cardiac biomarker market. Current and projected forecasts assay revenues during the forecast period (2013 to 2018) are presented. In addition, newly developed assays with regulatory approval and others expected to receive FDA approval within the forecast period are also projected. For large market segments, such as cardiac troponin and natriuretic peptides, the analytical sensitivities and cutoff references for the diagnosis and prognosis values are discussed in detail. Moreover, the ongoing effort in developing a high-sensitivity troponin assay, as well as the attempt to pursue additional biomarkers for the diagnosis of congestive heart failure and strokes are focused on in this study.
The report includes an analysis of leading and emerging competitors in the current worldwide diagnostics market for cardiovascular diseases. Profiles of manufacturers of leading products as well as biotechnology companies with products in development are discussed to define their specific product strategies. The competitive environment is examined with a special focus on how instrumentation type (clinical chemistry analyzers compared with point-of-care devices) and their respective technologies are influencing the current standard of care. Detailed profiles of current market leaders are discussed, as well as companies with innovative products poised to enter the market during the forecast period.
This report is intended for business consultants, acquisitions specialists, licensing strategists, product managers, market research analysts, investors, investor consultants, and anyone interested in the cardiac biomarker market, its products, its industry participants and its future.
Editors and reporters who wish to speak with the analyst, should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key competitors. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Our clients include the top companies in industries around the world as well as universities, business schools, start-ups, consulting firms and investment companies. BCC Research is a unit of Eli Research LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (weekdays, U.S. Eastern time), or email help(at)bccresearch(dot)com.
Steven Cumming, BCC Research, http://www.bccresearch.com, +1 781-489-7301 Ext: 632, [email protected]
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