Increasing Incidence of Cardiovascular Diseases to Drive Cardiovascular Disease Diagnostics Market, According to a New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Cardiovascular Disease Diagnostics markets. The global market for cardiovascular disease diagnostics is forecast to reach US$14.5 billion by the year 2017, primarily driven by increasing incidence of cardiovascular diseases, costs associated with the disease management, and technological advancements coupled with the increasing awareness among patients on disease management.

Cardiovascular Disease Diagnostics: A Global Strategic Business Report

Follow us on LinkedIn – Despite the declining mortality rates over the past two decades, cardiovascular diseases (CVD) continues to be one of the major causes of death rates over the past two decades. Therefore, it is of no surprise that cardiovascular diseases hold a significant influence on public health costs and the nations’ economies, besides affecting general public and their standard of living. The rapidly increasing healthcare expenditure represents a key challenge to most countries, with significant cardiovascular disease burden. Developed markets, more specifically face this burden, due to growing aging population, and rising incidence of cardiovascular diseases. Early diagnosis of heart disease is therefore essential for combating associated treatment costs and disease risks. Against this backdrop, the cardiovascular diseases market is witnessing an upsurge in the usage of Point-of-care testing (POCT) tools. POC diagnostic tools are playing an important role in the CVD market, as they are being used in general prophylaxis, clinical workup, and therapeutic monitoring of several serious cardiovascular disorders and diseases. The growth driving factors for the market include favorable medicare reimbursement environment and highly promising new indications for POC tests. Other factors that contribute to the upsurge in demand for the point-of-care medical diagnostic products include the increasing median age of the population; the changing trends in the healthcare cost management; need to monitor chronic conditions and time deficiency to meet the doctor for tests.

However, growth in the market for cardiovascular POC diagnostics is limited to an extent due to certain drawbacks, which include logistic considerations at various alternative care sites, short-term cost disincentives, and competition from advanced traditional tests conducted in central laboratories. Cardiac markers represent a booming segment of the POC testing market that finds emerging applications in hospitals, chest pain clinics or emergency departments. Cardiac markers, including Troponin, Myoglobin, and MB isoenzyme of Creatine Kinase are extensively being used in chest pain diagnosis and are considered as the most appropriate indicators to assess heart attack. Additionally, the market is witnessing the introduction of more advanced markers, such as Brain Natriuretic Peptide (BNP) that play an essential role in identifying congestive heart failure, besides assessing the sudden cardiac death risk.

The US represents the single largest regional market worldwide, as stated by the new market research report on Cardiovascular Disease Diagnostics. Europe trails behind the US. However, market growth is expected to emanate mainly from the Asia-Pacific market, which is forecast to grow at a compounded annual growth rate of more than 9.9% during the analysis period. Segment-wise, Invivo and Invitro diagnostics play an important role in the early detection of heart disease candidates. In vivo diagnostics represent the largest as well as the fastest growing segment of the cardiovascular disease diagnostics market worldwide. In vivo diagnostics market has been propelled by potential imaging technologies. In addition, a new twist on existing methodologies, such as Electron Beam Computed Tomography (EBT) and contrast-enhanced magnetic resonance and ultrasound have gained increased prominence in the recent years as an effective medium in the early identification of plaque build up and heart function abnormalities. Growth in the CVD diagnostics market would however be driven by In vitro diagnostics, backed by product innovations in the point-of-care and molecular testing. The global in-vitro diagnostic products market witnessed robust growth in revenues during the past decade. The global in-vitro diagnostic products market is projected to grow at a healthy pace in the near future, with emerging markets such as Asia-Pacific, Eastern Europe, and Latin America likely to account for a major proportion of this growth.

Major players profiled in the report include AccuTech LLC, Abbott Diagnostics, Alere Inc., Beckman Coulter Inc., biomérieux, GE HealthCare, LifeSign LLC, Nanosphere Inc., Philips Healthcare, Response Biomedical Corp., Roche Diagnostics, Siemens Healthcare Diagnostics Inc, St Jude Medical Inc., among others.

The research report titled “Cardiovascular Disease Diagnostics: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the cardiovascular disease diagnostics market, current market trends, key growth drivers, recent product approvals, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for cardiovascular disease diagnostics market for the years 2009 through 2017 for the following geographic markets - US, Canada, Japan, Europe, Asia-Pacific, Middle East and Latin America, by the following market segments – In Vitro Diagnostics, and In Vivo Diagnostics. Also, a six-year (2003-2008) historic analysis is provided for additional perspective.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Cardiovascular_Disease_Diagnostics_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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