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Increasing Prevalence of Heart Disease Drives Growth of Cardiac Biomarkers Diagnostics Market, Says Frost & Sullivan
Participants need to focus on product customisation, ease-of-use and reliability
By: PR Newswire
Dec. 12, 2012 04:40 AM
LONDON, Dec. 12, 2012 /PRNewswire/ -- Cardiovascular disease (CVD) is the main cause of death in the EU, killing over 2 million people annually and costing the economy nearly €192 billion. Prevention, through constant monitoring of heart health, is seen as the best way to tackle this high death rate.
The most accurate way of monitoring heart health is through cardiac marker testing. Regular monitoring of cardiac health through brain natriuretic peptide (BNP) testing is being practiced across Europe, thereby boosting the cardiac marker testing market.
New analysis from Frost & Sullivan (http://www.healthcare.frost.com), Analysis of European Cardiac Biomarkers Diagnostics Market, finds that the market earned revenues of about $607.9 million in 2011 and estimates this to double to reach $1,216.0 million in 2018. The research covers acute myocardial infarction (AMI) and congestive heart failure (CHF) biomarkers diagnostics.
The increasing role of cardiac markers in patient triaging is further boosting market expansion. Effective implementation of cardiac markers can enable decreased bed occupancy, reduced hospital costs and physician time.
"Cardiac markers rank among the best available tools to assess the patient's status," notes Frost & Sullivan Senior Research Analyst K. Srinivas Sashidhar. "For instance, in cases where a test is positive for certain markers, especially cardiac troponin, this would indicate a heart attack. Subsequently, the appropriate treatments and interventions could be administered."
Due to the urgent nature of myocardial infarction, commonly known as a heart attack, healthcare practitioners have to obtain rapid results for immediate diagnosis and treatment. This need for quick turnaround times has fuelled interest in point-of-care (POC) cardiac testing.
As these trends accelerate market development, saturation will pose a key restraint, especially for the troponin testing segment.
"The troponin testing segment, which now constitutes about a third of the cardiac marker testing market, has reached saturation," explained Sashidhar. "It is expected to grow slowly, especially in lab-based testing, with growth likely to be mainly through POC testing."
To sustain market momentum, participants need to develop customised solutions. Multi-menu options for cardiac tests and products that meet market needs, paralleled by alliances with pharmaceutical companies to develop better targeted, therapy-oriented solutions, will keep the market on a growth trajectory.
"Companies need to develop monitoring systems with sufficient product differentiation features to stay competitive," concluded Sashidhar. "Regardless of the test solution, ease-of-use and reliability will be essential to sustain growth."
If you are interested in more information on this study, please send an email with your contact details to Anna Zanchi, Corporate Communications, at email@example.com
Analysis of European Cardiac Biomarkers Diagnostics Market is part of the Life Sciences Growth Partnership Service programme, which also includes research in the following markets: Western European In Vitro Diagnostics (IVD) Market, Strategic Analysis of CEE IVD Market, European Point of Care Testing Market and Global IVD Market. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
About Frost & Sullivan
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