Global Heart Attack Diagnostics Market was valued $9.24 Bn in 2019 and is expected to grow at a CAGR of 8.2%.
Global Heart Attack Diagnostics Market Introduction
A heart attack takes place when the flow of oxygen-rich blood to a section of heart muscle suddenly gets blocked and the heart doesn’t get oxygen. If blood flow isn’t restored quickly, the section of heart muscle dies. According to the Centre for Disease Control and Prevention (CDC)Trusted Source, heart disease is responsible for 1 in 4 four deaths in the United States each year. It’s a leading cause of death in both men and women. The breadth of cardiovascular research is astounding, with research undertaken across a variety of institutions. In the USA, the joint academies developed a document to guide national policy in health with a dedicated document for cardiovascular medicine that includes general directions for research. In Europe, building a roadmap for cardiovascular research is one of the tasks of the ERA-CVD network.
Global Heart Attack Diagnostics Market Dynamics
The increasing prevalence of diabetes and hypertension along with the adoption of an unhealthy lifestyle is likely to boost the heart attack diagnosis market growth to a greater extent. As per the Centre for Disease Control and Prevention (CDC)’s National Diabetes Statistics Report, 2020, more than 10.5% of the US population (i.e. 34 million population) has diabetes. Whereas, around 7.3 million people were suffering from diabetes, but have not yet been diagnosed.
Besides the increasing aged population,the increasing obesity among the populationis expected to contribute to the growth of the market during the forecast period. According to the World Health Organization (WHO), in 2019, more than 38.0 million children (under the age of 5 years) were overweight. Once considered a high-income country problem, obesity and overweight are also on the rise in low- and middle-income regions, particularly in urban settings. In African countries, the number of overweight population increased by 24% since 2000. Such an increasing number of obese population will increase the incidences of cardiovascular problems, thereby driving the heart attack diagnosis market growth.
Shortage of skilled workforce in the healthcare industry is a major restraint affecting the growth of the heart attack diagnostics market. According to W.H.O, the world is estimated to experience shortage of 12.9 million medical professionals by 2030. The lack of medical professionals possessing the ability to operate medical devices and conduct diagnostic assessments is anticipated to reduce the demand for such devices in the market.
Global Heart Attack Diagnostics Market Segment Analysis
By Test type, ECG segment is expected to grow at a CAGR of xx% in the forecast period.
Electrocardiographs detect the electrical signals associated with cardiac activity and produce an ECG, a graphic record of the voltage versus time. They are used to diagnose and assist in treating some types of heart disease and arrhythmias, determine a patient’s response to drug therapy, and reveal trends or changes in heart function.
In May 2019, Abbott launched RX Implantable Cardiac Monitor (ICM), a paperclip-sized implantable device, combined with the smartphone connectivity which continuously monitors the heart beat in order to track unpredictable heart rhythm problems for quick and accurate diagnosis.Technological advancements in ECG devices such as portable and handheld, rise in incidence of cardiovascular diseases globally, increase in geriatric population, and favourable government regulations regarding monitoring devices is expanding the segment, thereby boosting the market growth.
Blood tests segment is further classified into troponin and CK-MB. The troponin blood test type segment is expected to grow significantly at a CAGR of xx% in the forecast period. Owing to its prodigious specificity and its ability to accurately detect the cardiac events of acute coronary syndrome, MI, and other cardiac injuries the segment is expanding at a faster pace. Moreover, its applications as a cardiac monitoring device and its indispensable use as a heart attack diagnostic tool also contributes to the segment growth.
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Global Heart Attack Diagnostics Market Regional Insights
North America is expected to dominate the market in the global heart attack diagnostics market during the forecast period. This is attributed due to the increasing prevalence of the diabetic population coupled with increasing obesity is one of the major factors to contribute significant growth of the heart attack the diagnostic market in the region.Well-established healthcare infrastructure, ease of availability is also a key driver affecting the market growth. Investments by key players in this field has boosted the market growth. Rising adoption of technologically advanced diagnostic imaging systems for lymphedema is rapidly growing the market.
Furthermore, Asia-Pacific is estimated to be the fastest-growing region during the forecast period due to oversized population as well as increasing incidence of chronic disease in certain regions that propel the growth of the heart attack diagnostic market in the region. For instance, according to revealed reports, Asian country leads the Asia Pacific section as a result of the high incidence of heart attacks and soaring death rates because of heart diseases.
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Global Heart Attack Diagnostics Market: by Region
• North America
• South America
• Asia Pacific
Global Heart Attack Diagnostics Market Key Players
• Abbott Laboratories
• Beckman Coulter
• Bio-Rad Laboratories Inc.
• Siemens Healthcare Diagnostics
• GE Healthcare
• Life Sign LLC
• Hitachi Medical Systems
• Schiller AG
• Koninklijke Philips (PHIA)
• Bayer AG
• BioMerieux, INC
• Danaher Corporation
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