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Heart Attack Diagnostics Market

Heart Attack Diagnostics Market

Heart Attack Diagnostics Market Analysis by Test (Electrocardiogram, Blood Tests, Angiogram, Computerized Cardiac Tomography, and Other Tests), by End User, by Region - Global Forecast 2022-2032

Heart Attack Diagnostics Market
FACT7322MR
  • May-2022
  • List of Tables : 54
  • List of Figures : 114
  • 170 Pages
  • Healthcare

Global Heart Attack Diagnostics Market Outlook

The heart attack diagnostics market is predicted to grow at a moderate CAGR of 7.1% during the forecast period of 2022 to 2032. The global heart attack diagnostics market is estimated to reach a value of nearly US$ 22.2 Billion by 2032 by growing from US$ 10.4 Billion in 2021.

Attributes

Details

Heart Attack Diagnostics Market Size (2021)

US$ 10.4 Billion

Heart Attack Diagnostics Market Value (2022)

US$ 11.2 Billion

Heart Attack Diagnostics Market Value (2032)

US$ 22.2 Billion

Heart Attack Diagnostics Market Growth Rate (2022-2032)

7.1%

Market Share of Top 5 Countries

55.4%

Heart Attack Diagnostics Market Key Players

  • GE Healthcare
  • Hitachi Corporation
  • Koninklijke Philips NV
  • Midmark Corporation,
  • F Hoffmann-La Roche Ltd
  • Schiller AG
  • Siemens Healthineers
  • Toshiba Corporation
  • Welch Allyn Inc
  • Astrazenca PLC.

“Prevalence of chronic diseases such as diabetes and hypertension among the general mass due to adoption of sedentary lifestyle have emerged to be the main factor driving the global heart attack diagnostic market.”

Myocardial infraction, that is commonly known as heart attack is actually a type of cardiovascular disease (CVD), which happens when oxygenated blood flowing to the muscles in heart reduces or gets cut off. This condition of myocardial ischemia is recognized as one of the top causes of mortality creating a huge demand for heart attack diagnostics in the healthcare sector.

Incident of myocardial infarction is a life threatening condition that requires prompt diagnosis test for heart attack and treatment. Such a high risk factor has rendered the heart attack diagnostic market as a growing space in the present times.

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What is the Covid-19 Impact on Global Heart Attack Diagnostics Market?

The outbreak of the Covid-19 pandemic has had a considerable impact on the heart attack market size as people with a history of cardiac malfunction were more vulnerable to the virus infection. This substantial risk of mortality associated with the heart patients escalated the adoption of heart attack diagnostics services in hospitals and healthcare centers.

Furthermore, some of the Coronavirus infection symptoms, such as chest pain, exhaustion or difficulty in breathing, were initially mistaken as symptoms of cardiac malfunction that are supposed to have augmented the heart attack diagnostic market key trends and opportunities in those days. This new market research report on heart attack diagnostics links the prevalence of Covid-19 risk in the present world and heart attack diagnostic market trends observed during the market study.

What is the Future of Global Heart Attack Diagnostics Market?

“Innovations in new blood and enzyme-based diagnostic techniques that are portable as well as quick in giving results have the potential to dominate the heart attack diagnostics market by end of this forecast timeframe.”

What are the Driving Factors for the Global Heart Attack Diagnostics Market?

Adopting bad lifestyles and habits, particularly in metro cities around the world, and the prevalence of several chronic diseases among the younger age population has increased the risk of heart attack or cardiac arrest these days. Accumulation of cholesterol and other substances in the coronary arteries is inferred to be the main reason for several coronary artery diseases (CAD) that have unfortunately supplemented the heart attack diagnostics market opportunities in the last few years.

Also, the predominance of CAD due to an expanding elderly population base and obese people is driving the heart attack diagnostics market outlook in all major economies of the world. According to the American Heart Association (AHA) report, nearly 45 per cent of US citizens are prone to some form of cardiac disease, particularly heart attack, which might become the key driving force for the heart attack diagnostic market growth in the coming years.

What are the Major Challenges Experienced by the Heart Attack Diagnostics Market Players?

Although several reasons have been established by the new market research report on heart attack diagnostic to propel this sector to new heights, a few stumbling blocks have been discussed therein. High costs for performing the diagnostic procedures and associate services may obstruct the progress of the heart attack diagnostic market size over the forecast period.

Low reimbursement facilities provided by some governments, like the United States administration, are anticipated to limit the vertical expansion of heart attack diagnostics adoption trends in the foreseeable term. In contrast, lack of awareness about the available financial support for medical expenses is a major challenge faced by the heart attack diagnostic market players in third world countries.

Apart from this, the unavailability of sufficient healthcare infrastructure in remote areas of developing areas is a major factor impeding the growth of the heart attack diagnostics market share that still needs to be taken care of with utmost emergency.

An Adaptive Approach to Modern-day Research Needs

Comparative View of Adjacent Heart Attack Diagnostics Market

Attributes

Heart Attack Diagnostics Market

Cancer Diagnostics Market

POC & Rapid Diagnostics Market

CAGR

(2022-2032)

7.1%

8.2%

10.5%

Market Value

(2027)

US$ 15.8 Billion

US$ 208 Billion

US$ 72 Billion

Growth Factor

Higher proportion of geriatric population worldwide has increased the demand.

Adoption of unhealthy lifestyle habits have increased the cancer incidences.

Prevalence of Infectious diseases around the world have increased the total test count.

Opportunity

Development of novel diagnosis techniques to boost the market in future.

Establishment of cancer care & treatment centers in the third world countries to boost the demand.

Government initiatives to raise awareness about the testing and early treatment methods.

Key Trends

Higher government spending in Asia Pacific countries to strengthen healthcare infrastructure

Tumor biomarker tests is the rapidly growing segment in the world.

Covid-19 pandemic has reestablished the market all across the globe with higher demand than ever before.

According to the global market study on heart attack diagnostics, advancements in ECG technology are predicted to be a serious game-changer for patients suffering from any heart disorder. Electrocardiograms, angiograms, blood tests and even the computerized cardiac tomography have all surfaced to be effective procedures for detecting potential heart attack incidence in patients.

Recent approval by the United States Food & Drug Administration (USFDA) of the newly found high sensitive identification test based on a protein called Troponin for heart attacks is likely to encourage some new players in the global heart attack diagnostic market. Roche & Abbott are the key competitors in this segment, producing a T sensitivity test kit that was priced around US$ 52 only in the year 2020.

Research and studies about the various healthcare segments have fortified the heart attack diagnostics market outlook. For instance, according to an article published by Europe ’Heart Failure & Policy’, often healthcare professionals misinterpret the heart failure symptoms as that of ageing or comorbidities. Creating awareness about such accidents is anticipated to augment the adoption of heart attack diagnostics services for the early detection of patients.

What is the Growth Outlook for the Heart Attack Diagnostics Market According to Different Segments?

“With multiple prominent players emerging with the recent development in heart attack diagnostics services, its market is anticipated to get fiercely competitive in the coming days.”

According to the Various Types of Diagnostic Methods Which Segment is Mostly Popular of the Global Heart Attack Diagnostics Market?

It is predicted by the heart attack diagnostics market demand analysis that over the forecast period ECG domain might experience some higher growth in demand, mostly in low-income and middle-income countries. Contrastingly, enzyme-based diagnostic techniques and rapid heart attack diagnosis blood tests such as Creatine Kinase MB Isoenzyme (CK-MB) based diagnosis method are estimated to witness higher adoption in developed economies. These sensitive tests disseminate quick results within two hours against the traditional methods that require 6-7 hours and are expected to boost the heart attack diagnostics market future trends.

However, the Blood test category is the rapidly growing segment as per this heart attack diagnostics market report, with a predicted CAGR of nearly 6.8%. Coronary angiography and Echocardiography are developing fields, significantly contributing to the heart attack diagnostics statistics and popularity of the market.

Who are the Major End Users Contributing to the Growth of the Heart Attack Diagnostics Market?

Hospitals still dominate the overall heart attack diagnostics market analysis report in the end-use sections. This segment is predicted to grow at a rate of 6.7% during the forecast years 2022 to 2032 as it is the first choice of heart patients in any part of the world. Other end-use segments contributing significantly to the global heart attack diagnostics market include ambulatory surgical centers and diagnostic centers with a growing user base in recent years.

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What is the Performance of Heart Attack Diagnostics Market in Different Geographical Regions?

Region

CAGR (2022 to 2032)

United States (US)

6.8%

United Kingdom (UK)

6.1%

China

6.4%

Japan

5.4%

South Korea

5%

As per the emerging trends in heart attack diagnostics market over the forecast period of 2022 to 2032, North America is predicted to remain the dominating region in this sector. Also, according to the Us Centers for Disease Control (CDC), one US citizen is prone to a heart attack every 40 seconds resulting in huge demand for heart attack diagnostics and treatment services in North America.

With good healthcare facilities and constant innovations in the field, the US$ 4 Billion worth US heart attack diagnostics market occupies nearly 35% of the global revenue. It is also the fastest-growing market among the top-performing countries that are predicted to reach a valuation of US$ 7.7 Billion by the end of the year 2032.

Moreover, due to the higher heart patient burden in emerging economies of Asia Pacific, the healthcare sector of China and India may not remain confined to ECG-based testing, which is forecasted to result in a larger heart attack diagnostic market share for the quick blood test segment.

The other factor responsible for such an impressive growth of this segment is the advantage of performing it at any location other than hospitals. Heart attack diagnosis blood tests can be performed in mobile vans in Latin America and Middle East regions with a lower concentration of hospitals and medical centers.

How Strong is the Competitive Landscape for the Heart Attack Diagnostics Market?

Major players operating in the global heart attack diagnostic market are primarily focussed on creating products that can deliver highly reliable results and are simple to use as well. In addition, established firms providing diagnostic procedures for myocardial infarction indulge in strategic alliances and collaboration to develop region specific new analytical tests and expand their market presence.

What are the Recent Developments in the Heart Attack Diagnostics Market?

  • Roche Company released a series of two critical cardiac biomarkers in April 2021 by the name of cardiac troponin T (cTnT-hs) and N-terminal pro-brain natriuretic peptide test by using its Elecsys® technology.
  • European Union authorized the use of CaRi Heart Technology in March 2021. Its advanced artificial intelligence (AI) support helps in detecting and predicting the danger of any type of heart attack by some years before its occurrence.
  • Abott obtained CE Mark for its highly sensitive Troponin-I blood test kit in September 2018 that helps in detecting the risk of heart attack in healthy person as well.

Key Segments

  • By Test :

    • Electrocardiogram
    • Blood Tests
    • Angiogram
    • Computerized Cardiac Tomography
    • Other Tests
  • By End User :

    • Hospitals
    • Ambulatory Surgical Centers
    • Diagnostic Centers
    • Other End Users
  • By Region :

    • North America
    • Latin America
    • Europe
    • Asia Pacific
    • Middle East and Africa (MEA)

- FAQs -

The global heart attack diagnostics market is estimated to record a CAGR of 7.1% during the forecast period.
The global heart attack diagnostics market is predicted to be valued at US$ 22.2 Billion by 2032.
The global heart attack diagnostics market was valued at US$ 10.4 Billion in 2021.
North America accounts for the largest revenue share in the global heart attack diagnostics market with USA leading the global market by contributing 35% of the total revenue generated.
Asia Pacific region is predicted to witness the highest CAGR in the heart attack diagnostics market with China leading the region by a record CAGR of 6.4% through 2032.

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