Dublin, Nov. 08, 2021 (GLOBE NEWSWIRE) — The “Heart Attack Diagnostics Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The global heart attack diagnostic market is expected to register a CAGR of 7.9% in the forecast period (2021 – 2026).
The COVID-19 pandemic has significantly increased the risk for people suffering from heart diseases, especially those prone to heart attacks, and is more likely to die if not diagnosed on time. Moreover, some of the early symptoms of COVID-19 are aligned with heart attacks, like chest pain, nausea, fatigue, and trouble breathing. In July 2020, a report published by researchers from the University of Alberta Faculty of Medicine and Dentistry discovered a new blood test for predicting heart attack in patients suffering from COVID-19. It proved a relationship between the high risk of COVID-19 in people having cardiovascular diseases. Thus, this ongoing COVID-19 pandemic is going to play a major role in the heart attack diagnostics market.
According to a World Health Organization report, cardiovascular diseases are the main cause of deaths worldwide, and four out of five deaths occur due to cardiovascular diseases, like heart attack and strokes. Furthermore, over 13 million deaths occur in low- and middle-income countries every year, and of these, 85% were due to heart attack and stroke. A report from the American Heart Association says that by 2035, around 45% of Americans may be suffering from some sort of heart disease (mainly heart attack), which may be a major driving force for the heart attack diagnostic market.
The major factors contributing to this high number of cardiovascular diseases are hypertension, high blood cholesterol, and smoking. The proven methods for detecting heart attacks are electrocardiograms, blood tests, angiograms, and computerized cardiac tomography. Recently, the US Food and Drug Administration approved a new and high sensitivity test for a protein, Troponin, for the detection of heart attacks, in which Roche and Abbott are the major players.
Although many factors are likely to drive this market to a new height, a few restraining factors, like cost and lack of awareness, may create hindrances in its path. As the market is spread across the world and low-income countries are involved, these diagnostic kits need to be within budget, and people should be aware of them. For instance, the Roche Trop T Sensitivity test kit is available for about USD 52 (2020) in India, which is out of reach for many low-income families and is not easily available.
Key Market Trends
Rapid Blood Tests like Troponin Test is Expected to Occupy a Significant Share in the Market over the Forecast Period
Over the forecast period, the ECG domain may see some high growth rates in the low- and middle-income countries, while developed countries will observe major growth in the rapid blood test and enzyme-based diagnostics techniques, like Troponin T diagnostic kit and Creatine Kinase MB Isoenzyme (CK-MB) diagnostic technique. These are highly sensitive and rapid tests that give results in an hour or two while current ones provide results in six or seven hours, giving doctors few extra hours, which can be enough to save a patient’s life.
Moreover, the developing countries may not be limited to ECG-based tests only, thus, creating a huge market for rapid blood tests due to their huge population. For example, India and China witness millions of deaths every year due to cardiovascular diseases. Electrocardiogram (ECG) is a more complex system that can only be performed if the patient is physically available. At the same time, there are no such limitations for blood and enzyme-based diagnostic techniques. In a country like India where basic healthcare facility is out of reach from most of the population, this kind of blood tests can be performed anywhere in the mobile hospitals. It is observed that the troponin market reached an evaluation of USD 1 billion in 2017, and by 2025, it may become a market of more than USD 2 billion.
North America is Expected to Dominate the Heart Attack Diagnostics Market during the Forecast Period
As per the report by CDC, at every 40 seconds, an American may have a heart attack, and it is one of the expensive conditions treated in US hospitals. According to the American Heart Association, by 2035, around 45% of the United States population are likely to suffer from heart disease, due to factors, like high obesity, high smoking, and unhealthy lifestyle, which lead to heart attack and related issues. Thus, North America is expected to dominate the overall heart attack diagnostics market over the forecast period (2021 – 2026). Other reasons that may be a factor in this will be quality healthcare infrastructure and high scope for innovation.
While in Canada, deaths due to heart attack and cardiovascular diseases are as low as 189 out of 100,000 (2019), out of which the heart attack deaths are very less. Whereas, in the other part of North America, i.e., Mexico, the death rate due to heart attack and cardiovascular diseases are quite high. Furthermore, around 24% of deaths in Mexico are due to cardiovascular diseases, mainly because of the huge consumption of tobacco and alcohol, and poor health infrastructure, among others.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Technological Advancements
4.2.2 Major Rise in Cardiovascular Diseases
4.2.3 Increasing the Quality of Life
4.3 Market Restraints
4.3.1 Expensive Diagnostics Products
4.3.2 Lack of Skilled Workforce in the Hospitals and Other Areas
4.4 Industry Attractiveness – Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Test
5.1.2 Blood Tests
5.1.4 Computarized Cardiac Tomography
5.1.5 Other Tests
5.2 By End User
5.2.2 Ambulatory Surgical Centers
5.2.3 Diagnostics Centers
5.2.4 Other End Users
5.3 By Geography
5.3.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
5.3.5 South America
126.96.36.199 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 GE Healthcare
6.1.2 Hitachi Corporation
6.1.3 Koninklijke Philips NV
6.1.4 Midmark Corporation
6.1.5 F Hoffmann-La Roche Ltd
6.1.6 Schiller AG
6.1.7 Siemens Healthineers
6.1.8 Toshiba Corporation
6.1.9 Welch Allyn Inc.
6.1.10 Astrazenca PLC
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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