Cardiac Marker Testing Market Size (2021-2031) and Growth
The Cardiac Marker Testing Market is expected to register a CAGR of 9.1% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented By Product Type (Reagents and Kits, Instruments); Biomarker Type (Troponin I and T, CK-MB, BNP, Myoglobin, Hs-CRP, Other Biomarkers); Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis, Ischemia); End User (Laboratory Testing, Point-Of-Care-Testing, Others). The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Cardiac Marker Testing Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Cardiac Marker Testing Market Segmentation
Product Type- Reagents and Kits
- Instruments
- Troponin I and T
- CK-MB
- BNP
- Myoglobin
- Hs-CRP
- Other Biomarkers
- Myocardial Infarction
- Congestive Heart Failure
- Acute Coronary Syndrome
- Atherosclerosis
- Ischemia
- Laboratory Testing
- Point-Of-Care-Testing
- Others
- Laboratory Testing
- Point-Of-Care-Testing
- Others
Strategic Insights
Cardiac Marker Testing Market Growth Drivers- Rising Prevalence of Cardiovascular Diseases: Another major reason fuelling the expansion of the cardiac marker testing market is the increasing prevalence of cardiovascular diseases (CVD) around the globe. With heart attacks, strokes, and heart failures becoming more common there is also a rising need for advanced effective diagnostic means in establishing the critical primary preconditions of all heart diseases. The rise in demand for cardiac markers has contributed to the growth of the market since these tests are significant in commencement and conclusion of treatment.
- Advancements in Diagnostic Technologies: Newer Technologies Focused on Diagnostic Purposes are improving the performance of cardiac markers. Point of care, rapid testing kits, better biomarkers are among other newer technologies enabling faster and easier testing. Such technological advancements which entail quicker and accurate results are enhancing the use of cardiac marker tests hence extending the market.
- Growing Awareness and Preventive Healthcare: This is due to the fact that more people are now aware of the dangers of heart diseases and the importance of preventing them which helps in the expansion of the market for cardiac marker testing. As more patients begin concentrating on preventative healthcare and on the control of risk factors of cardiovascular disease, the supply of early diagnostic examination grows. As people prefer health management above treatment, such tendency leads to an increased market demand for effective cardiac marker figurative examinations.
- Shift Toward Point-of-Care Testing: One of the most pronounced trends in the cardiac marker testing market is the increase in shift towards point of care (POC) testing. The POC device facilitates test results on site in a much easier fashion making it possible to get results in time in case of emergency settings and even in related outpatient clinics. This trend is beneficial in increasing the efficiency of cardiac care by allowing quick diagnostics hence minimizing on the time wasted in hospital queues thus improving the clinical outcomes of patients and as a result expanding the market.
- Integration of Artificial Intelligence and Data Analytics: Artificial intelligence (AI) and data analytics have improved the cardiac marker testing market. Test results can be interpreted with a higher degree of accuracy with the use of AI algorithms such that risks for heart diseases can also be predicted. Such advances are most often seen in diagnostic devices based on x-ray or magnetic resonance imaging, facilitating their healthy development, creating and satisfying a need for developments in the cardiac testing market.
- Emergence of Biomarker-Based Panels: There is an emerging trend in the cardiac testing market where panels of multi-biomarker are being developed. Such panels include the use of several biomarkers to help define a specific heart disease more precisely enhancing its diagnosis as well as risk assessment. Such biomarker panels as are more predictive in nature help in early diagnosis and management of cardiovascular diseases which is why there is increasing use of such panels in clinical practice thus there is an increase in the market growth.
- Expansion in Emerging Markets: The healthcare system in these emerging markets is, however, significantly developed especially that which has led to the establishment of a market for cardiac biomarker testing services. In view of this, it can be noted that Asia-pacific and Latin America suffer a larger population who are at risk of cardiac ailments as well as having high-end diagnostic equipment. In those markets, the expansion of diagnostic marker testing technologies for cardiac markers is envisaged which will also aid in diagnosis and prevention of cardiovascular diseases.
- Integration with Telemedicine and Remote Monitoring: The expansion of telehealth services and virtual consultations has advanced the process and the procedure of assessing cardiac markers, especially in the mobile or off-site settings. Bearing in mind the still quite recent upward developmental trend in telemedicine, from which one encounters numerous challenges especially in the remote latitudes, one can comfortably envisage that an area such as cardiology will be within the reach of patients who reside at the farthest latitudes. All this transform's people's attitudes towards using advanced diagnostic tests for heart diseases and most significantly, how the Center for this vital diagnostic services is made available to as many patients as possible.
- Development of Personalized Medicine: With the present advancements in the healthcare whereby personalized medicine is on the fore front, the opportunities for cardiac markers testing are increasing as well. It is effective to prevent and treat cardiovascular diseases according to the individual biomarker signatures. This is the reason why the advanced multi markers tests are in high demand, which creates hopes for the future of the market in terms of further expansion and innovations.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cardiac Marker Testing Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Cardiac Marker Testing Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Instruments segment accounts for highest revenue in animal type sgement in 2023
Roche Diagnostics Ltd, Abbott Laboratories, Siemens Healthineers AG, Danaher Corporation, Ortho Clinical Diagnostics, Randox laboratories Ltd., bioMérieux SA, LSI Medience Corporation, DiaSorin S.p.A., Bio-Rad Laboratories, Inc. are some of the major market players operating in the market
Asia Pacific region dominated the cardiac marker testing market in 2023
North America region dominated the cardiac marker testing market in 2023
The Cardiac Marker Testing Market is estimated to witness a CAGR of 9.1% from 2023 to 2031
The major factors driving the cardiac marker testing market are:
1.Rising Prevalence of Cardiovascular Diseases
2. Advancements in Diagnostic Technologies
3. Growing Awareness and Preventive Healthcare
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Cardiac Marker Testing Market - By Product Type
1.3.2 Cardiac Marker Testing Market - By Biomarker Type
1.3.3 Cardiac Marker Testing Market - By Application
1.3.4 Cardiac Marker Testing Market - By End User
1.3.5 Cardiac Marker Testing Market - By Region
1.3.5.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. CARDIAC MARKER TESTING MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. CARDIAC MARKER TESTING MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. CARDIAC MARKER TESTING MARKET - GLOBAL MARKET ANALYSIS
6.1. CARDIAC MARKER TESTING - GLOBAL MARKET OVERVIEW
6.2. CARDIAC MARKER TESTING - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. CARDIAC MARKER TESTING MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. REAGENTS AND KITS
7.3.1. Overview
7.3.2. Reagents and Kits Market Forecast and Analysis
7.4. INSTRUMENTS
7.4.1. Overview
7.4.2. Instruments Market Forecast and Analysis
7.4.3. Chemiluminescence Market
7.4.3.1. Overview
7.4.3.2. Chemiluminescence Market Forecast and Analysis
7.4.4. Immunofluorescence Market
7.4.4.1. Overview
7.4.4.2. Immunofluorescence Market Forecast and Analysis
7.4.5. ELISA Market
7.4.5.1. Overview
7.4.5.2. ELISA Market Forecast and Analysis
7.4.6. Immunochromatography Market
7.4.6.1. Overview
7.4.6.2. Immunochromatography Market Forecast and Analysis
8. CARDIAC MARKER TESTING MARKET - REVENUE AND FORECASTS TO 2028 - BIOMARKER TYPE
8.1. OVERVIEW
8.2. BIOMARKER TYPE MARKET FORECASTS AND ANALYSIS
8.3. TROPONIN I AND T
8.3.1. Overview
8.3.2. Troponin I and T Market Forecast and Analysis
8.4. CK-MB
8.4.1. Overview
8.4.2. CK-MB Market Forecast and Analysis
8.5. BNP
8.5.1. Overview
8.5.2. BNP Market Forecast and Analysis
8.6. MYOGLOBIN
8.6.1. Overview
8.6.2. Myoglobin Market Forecast and Analysis
8.7. HS-CRP
8.7.1. Overview
8.7.2. Hs-CRP Market Forecast and Analysis
8.8. OTHER BIOMARKERS
8.8.1. Overview
8.8.2. Other Biomarkers Market Forecast and Analysis
9. CARDIAC MARKER TESTING MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
9.1. OVERVIEW
9.2. APPLICATION MARKET FORECASTS AND ANALYSIS
9.3. MYOCARDIAL INFARCTION
9.3.1. Overview
9.3.2. Myocardial Infarction Market Forecast and Analysis
9.4. CONGESTIVE HEART FAILURE
9.4.1. Overview
9.4.2. Congestive Heart Failure Market Forecast and Analysis
9.5. ACUTE CORONARY SYNDROME
9.5.1. Overview
9.5.2. Acute Coronary Syndrome Market Forecast and Analysis
9.6. ATHEROSCLEROSIS
9.6.1. Overview
9.6.2. Atherosclerosis Market Forecast and Analysis
9.7. ISCHEMIA
9.7.1. Overview
9.7.2. Ischemia Market Forecast and Analysis
10. CARDIAC MARKER TESTING MARKET - REVENUE AND FORECASTS TO 2028 - END USER
10.1. OVERVIEW
10.2. END USER MARKET FORECASTS AND ANALYSIS
10.3. LABORATORY TESTING
10.3.1. Overview
10.3.2. Laboratory Testing Market Forecast and Analysis
10.4. POINT-OF-CARE-TESTING
10.4.1. Overview
10.4.2. Point-Of-Care-Testing Market Forecast and Analysis
10.5. OTHERS
10.5.1. Overview
10.5.2. Others Market Forecast and Analysis
11. CARDIAC MARKER TESTING MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
11.1. NORTH AMERICA
11.1.1 North America Cardiac Marker Testing Market Overview
11.1.2 North America Cardiac Marker Testing Market Forecasts and Analysis
11.1.3 North America Cardiac Marker Testing Market Forecasts and Analysis - By Product Type
11.1.4 North America Cardiac Marker Testing Market Forecasts and Analysis - By Biomarker Type
11.1.5 North America Cardiac Marker Testing Market Forecasts and Analysis - By Application
11.1.6 North America Cardiac Marker Testing Market Forecasts and Analysis - By End User
11.1.7 North America Cardiac Marker Testing Market Forecasts and Analysis - By Countries
11.1.7.1 Canada Cardiac Marker Testing Market
11.1.7.1.1 Canada Cardiac Marker Testing Market by Product Type
11.1.7.1.2 Canada Cardiac Marker Testing Market by Biomarker Type
11.1.7.1.3 Canada Cardiac Marker Testing Market by Application
11.1.7.1.4 Canada Cardiac Marker Testing Market by End User
11.1.7.2 Mexico Cardiac Marker Testing Market
11.1.7.2.1 Mexico Cardiac Marker Testing Market by Product Type
11.1.7.2.2 Mexico Cardiac Marker Testing Market by Biomarker Type
11.1.7.2.3 Mexico Cardiac Marker Testing Market by Application
11.1.7.2.4 Mexico Cardiac Marker Testing Market by End User
11.1.7.3 US Cardiac Marker Testing Market
11.1.7.3.1 US Cardiac Marker Testing Market by Product Type
11.1.7.3.2 US Cardiac Marker Testing Market by Biomarker Type
11.1.7.3.3 US Cardiac Marker Testing Market by Application
11.1.7.3.4 US Cardiac Marker Testing Market by End User
11.2. EUROPE
11.2.1 Europe Cardiac Marker Testing Market Overview
11.2.2 Europe Cardiac Marker Testing Market Forecasts and Analysis
11.2.3 Europe Cardiac Marker Testing Market Forecasts and Analysis - By Product Type
11.2.4 Europe Cardiac Marker Testing Market Forecasts and Analysis - By Biomarker Type
11.2.5 Europe Cardiac Marker Testing Market Forecasts and Analysis - By Application
11.2.6 Europe Cardiac Marker Testing Market Forecasts and Analysis - By End User
11.2.7 Europe Cardiac Marker Testing Market Forecasts and Analysis - By Countries
11.2.7.1 Germany Cardiac Marker Testing Market
11.2.7.1.1 Germany Cardiac Marker Testing Market by Product Type
11.2.7.1.2 Germany Cardiac Marker Testing Market by Biomarker Type
11.2.7.1.3 Germany Cardiac Marker Testing Market by Application
11.2.7.1.4 Germany Cardiac Marker Testing Market by End User
11.2.7.2 France Cardiac Marker Testing Market
11.2.7.2.1 France Cardiac Marker Testing Market by Product Type
11.2.7.2.2 France Cardiac Marker Testing Market by Biomarker Type
11.2.7.2.3 France Cardiac Marker Testing Market by Application
11.2.7.2.4 France Cardiac Marker Testing Market by End User
11.2.7.3 Italy Cardiac Marker Testing Market
11.2.7.3.1 Italy Cardiac Marker Testing Market by Product Type
11.2.7.3.2 Italy Cardiac Marker Testing Market by Biomarker Type
11.2.7.3.3 Italy Cardiac Marker Testing Market by Application
11.2.7.3.4 Italy Cardiac Marker Testing Market by End User
11.2.7.4 Spain Cardiac Marker Testing Market
11.2.7.4.1 Spain Cardiac Marker Testing Market by Product Type
11.2.7.4.2 Spain Cardiac Marker Testing Market by Biomarker Type
11.2.7.4.3 Spain Cardiac Marker Testing Market by Application
11.2.7.4.4 Spain Cardiac Marker Testing Market by End User
11.2.7.5 United Kingdom Cardiac Marker Testing Market
11.2.7.5.1 United Kingdom Cardiac Marker Testing Market by Product Type
11.2.7.5.2 United Kingdom Cardiac Marker Testing Market by Biomarker Type
11.2.7.5.3 United Kingdom Cardiac Marker Testing Market by Application
11.2.7.5.4 United Kingdom Cardiac Marker Testing Market by End User
11.2.7.6 Rest of Europe Cardiac Marker Testing Market
11.2.7.6.1 Rest of Europe Cardiac Marker Testing Market by Product Type
11.2.7.6.2 Rest of Europe Cardiac Marker Testing Market by Biomarker Type
11.2.7.6.3 Rest of Europe Cardiac Marker Testing Market by Application
11.2.7.6.4 Rest of Europe Cardiac Marker Testing Market by End User
11.3. ASIA-PACIFIC
11.3.1 Asia-Pacific Cardiac Marker Testing Market Overview
11.3.2 Asia-Pacific Cardiac Marker Testing Market Forecasts and Analysis
11.3.3 Asia-Pacific Cardiac Marker Testing Market Forecasts and Analysis - By Product Type
11.3.4 Asia-Pacific Cardiac Marker Testing Market Forecasts and Analysis - By Biomarker Type
11.3.5 Asia-Pacific Cardiac Marker Testing Market Forecasts and Analysis - By Application
11.3.6 Asia-Pacific Cardiac Marker Testing Market Forecasts and Analysis - By End User
11.3.7 Asia-Pacific Cardiac Marker Testing Market Forecasts and Analysis - By Countries
11.3.7.1 Australia Cardiac Marker Testing Market
11.3.7.1.1 Australia Cardiac Marker Testing Market by Product Type
11.3.7.1.2 Australia Cardiac Marker Testing Market by Biomarker Type
11.3.7.1.3 Australia Cardiac Marker Testing Market by Application
11.3.7.1.4 Australia Cardiac Marker Testing Market by End User
11.3.7.2 China Cardiac Marker Testing Market
11.3.7.2.1 China Cardiac Marker Testing Market by Product Type
11.3.7.2.2 China Cardiac Marker Testing Market by Biomarker Type
11.3.7.2.3 China Cardiac Marker Testing Market by Application
11.3.7.2.4 China Cardiac Marker Testing Market by End User
11.3.7.3 India Cardiac Marker Testing Market
11.3.7.3.1 India Cardiac Marker Testing Market by Product Type
11.3.7.3.2 India Cardiac Marker Testing Market by Biomarker Type
11.3.7.3.3 India Cardiac Marker Testing Market by Application
11.3.7.3.4 India Cardiac Marker Testing Market by End User
11.3.7.4 Japan Cardiac Marker Testing Market
11.3.7.4.1 Japan Cardiac Marker Testing Market by Product Type
11.3.7.4.2 Japan Cardiac Marker Testing Market by Biomarker Type
11.3.7.4.3 Japan Cardiac Marker Testing Market by Application
11.3.7.4.4 Japan Cardiac Marker Testing Market by End User
11.3.7.5 South Korea Cardiac Marker Testing Market
11.3.7.5.1 South Korea Cardiac Marker Testing Market by Product Type
11.3.7.5.2 South Korea Cardiac Marker Testing Market by Biomarker Type
11.3.7.5.3 South Korea Cardiac Marker Testing Market by Application
11.3.7.5.4 South Korea Cardiac Marker Testing Market by End User
11.3.7.6 Rest of Asia-Pacific Cardiac Marker Testing Market
11.3.7.6.1 Rest of Asia-Pacific Cardiac Marker Testing Market by Product Type
11.3.7.6.2 Rest of Asia-Pacific Cardiac Marker Testing Market by Biomarker Type
11.3.7.6.3 Rest of Asia-Pacific Cardiac Marker Testing Market by Application
11.3.7.6.4 Rest of Asia-Pacific Cardiac Marker Testing Market by End User
11.4. MIDDLE EAST AND AFRICA
11.4.1 Middle East and Africa Cardiac Marker Testing Market Overview
11.4.2 Middle East and Africa Cardiac Marker Testing Market Forecasts and Analysis
11.4.3 Middle East and Africa Cardiac Marker Testing Market Forecasts and Analysis - By Product Type
11.4.4 Middle East and Africa Cardiac Marker Testing Market Forecasts and Analysis - By Biomarker Type
11.4.5 Middle East and Africa Cardiac Marker Testing Market Forecasts and Analysis - By Application
11.4.6 Middle East and Africa Cardiac Marker Testing Market Forecasts and Analysis - By End User
11.4.7 Middle East and Africa Cardiac Marker Testing Market Forecasts and Analysis - By Countries
11.4.7.1 South Africa Cardiac Marker Testing Market
11.4.7.1.1 South Africa Cardiac Marker Testing Market by Product Type
11.4.7.1.2 South Africa Cardiac Marker Testing Market by Biomarker Type
11.4.7.1.3 South Africa Cardiac Marker Testing Market by Application
11.4.7.1.4 South Africa Cardiac Marker Testing Market by End User
11.4.7.2 Saudi Arabia Cardiac Marker Testing Market
11.4.7.2.1 Saudi Arabia Cardiac Marker Testing Market by Product Type
11.4.7.2.2 Saudi Arabia Cardiac Marker Testing Market by Biomarker Type
11.4.7.2.3 Saudi Arabia Cardiac Marker Testing Market by Application
11.4.7.2.4 Saudi Arabia Cardiac Marker Testing Market by End User
11.4.7.3 U.A.E Cardiac Marker Testing Market
11.4.7.3.1 U.A.E Cardiac Marker Testing Market by Product Type
11.4.7.3.2 U.A.E Cardiac Marker Testing Market by Biomarker Type
11.4.7.3.3 U.A.E Cardiac Marker Testing Market by Application
11.4.7.3.4 U.A.E Cardiac Marker Testing Market by End User
11.4.7.4 Rest of Middle East and Africa Cardiac Marker Testing Market
11.4.7.4.1 Rest of Middle East and Africa Cardiac Marker Testing Market by Product Type
11.4.7.4.2 Rest of Middle East and Africa Cardiac Marker Testing Market by Biomarker Type
11.4.7.4.3 Rest of Middle East and Africa Cardiac Marker Testing Market by Application
11.4.7.4.4 Rest of Middle East and Africa Cardiac Marker Testing Market by End User
11.5. SOUTH AND CENTRAL AMERICA
11.5.1 South and Central America Cardiac Marker Testing Market Overview
11.5.2 South and Central America Cardiac Marker Testing Market Forecasts and Analysis
11.5.3 South and Central America Cardiac Marker Testing Market Forecasts and Analysis - By Product Type
11.5.4 South and Central America Cardiac Marker Testing Market Forecasts and Analysis - By Biomarker Type
11.5.5 South and Central America Cardiac Marker Testing Market Forecasts and Analysis - By Application
11.5.6 South and Central America Cardiac Marker Testing Market Forecasts and Analysis - By End User
11.5.7 South and Central America Cardiac Marker Testing Market Forecasts and Analysis - By Countries
11.5.7.1 Brazil Cardiac Marker Testing Market
11.5.7.1.1 Brazil Cardiac Marker Testing Market by Product Type
11.5.7.1.2 Brazil Cardiac Marker Testing Market by Biomarker Type
11.5.7.1.3 Brazil Cardiac Marker Testing Market by Application
11.5.7.1.4 Brazil Cardiac Marker Testing Market by End User
11.5.7.2 Argentina Cardiac Marker Testing Market
11.5.7.2.1 Argentina Cardiac Marker Testing Market by Product Type
11.5.7.2.2 Argentina Cardiac Marker Testing Market by Biomarker Type
11.5.7.2.3 Argentina Cardiac Marker Testing Market by Application
11.5.7.2.4 Argentina Cardiac Marker Testing Market by End User
11.5.7.3 Rest of South and Central America Cardiac Marker Testing Market
11.5.7.3.1 Rest of South and Central America Cardiac Marker Testing Market by Product Type
11.5.7.3.2 Rest of South and Central America Cardiac Marker Testing Market by Biomarker Type
11.5.7.3.3 Rest of South and Central America Cardiac Marker Testing Market by Application
11.5.7.3.4 Rest of South and Central America Cardiac Marker Testing Market by End User
12. INDUSTRY LANDSCAPE
12.1. MERGERS AND ACQUISITIONS
12.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
12.3. NEW PRODUCT LAUNCHES
12.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
13. CARDIAC MARKER TESTING MARKET, KEY COMPANY PROFILES
13.1. ROCHE DIAGNOSTICS LTD
13.1.1. Key Facts
13.1.2. Business Description
13.1.3. Products and Services
13.1.4. Financial Overview
13.1.5. SWOT Analysis
13.1.6. Key Developments
13.2. ABBOTT LABORATORIES
13.2.1. Key Facts
13.2.2. Business Description
13.2.3. Products and Services
13.2.4. Financial Overview
13.2.5. SWOT Analysis
13.2.6. Key Developments
13.3. SIEMENS HEALTHINEERS AG
13.3.1. Key Facts
13.3.2. Business Description
13.3.3. Products and Services
13.3.4. Financial Overview
13.3.5. SWOT Analysis
13.3.6. Key Developments
13.4. DANAHER CORPORATION
13.4.1. Key Facts
13.4.2. Business Description
13.4.3. Products and Services
13.4.4. Financial Overview
13.4.5. SWOT Analysis
13.4.6. Key Developments
13.5. ORTHO CLINICAL DIAGNOSTICS
13.5.1. Key Facts
13.5.2. Business Description
13.5.3. Products and Services
13.5.4. Financial Overview
13.5.5. SWOT Analysis
13.5.6. Key Developments
13.6. RANDOX LABORATORIES LTD.
13.6.1. Key Facts
13.6.2. Business Description
13.6.3. Products and Services
13.6.4. Financial Overview
13.6.5. SWOT Analysis
13.6.6. Key Developments
13.7. BIOMéRIEUX SA
13.7.1. Key Facts
13.7.2. Business Description
13.7.3. Products and Services
13.7.4. Financial Overview
13.7.5. SWOT Analysis
13.7.6. Key Developments
13.8. LSI MEDIENCE CORPORATION
13.8.1. Key Facts
13.8.2. Business Description
13.8.3. Products and Services
13.8.4. Financial Overview
13.8.5. SWOT Analysis
13.8.6. Key Developments
13.9. DIASORIN S.P.A.
13.9.1. Key Facts
13.9.2. Business Description
13.9.3. Products and Services
13.9.4. Financial Overview
13.9.5. SWOT Analysis
13.9.6. Key Developments
13.10. BIO-RAD LABORATORIES, INC.
13.10.1. Key Facts
13.10.2. Business Description
13.10.3. Products and Services
13.10.4. Financial Overview
13.10.5. SWOT Analysis
13.10.6. Key Developments
14. APPENDIX
14.1. ABOUT THE INSIGHT PARTNERS
14.2. GLOSSARY OF TERMS
1. Roche Diagnostics Ltd
2. Abbott Laboratories
3. Siemens Healthineers AG
4. Danaher Corporation
5. Ortho Clinical Diagnostics
6. Randox laboratories Ltd.
7. bioMérieux SA
8. LSI Medience Corporation
9. DiaSorin S.p.A.
10. Bio-Rad Laboratories, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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