The global cardiovascular diagnostic testing market was valued at $6,876.29 million in 2020, and is projected to reach $15,430.46 million by 2030, registering a CAGR of 8.3% from 2021 to 2030.
According to World Health Organization (WHO), cardiovascular diseases (CVDs) are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease and other conditions. More than four out of five CVD deaths are due to heart attack and strokes and one third of these deaths occur prematurely in people under 70 years of age. Cardiovascular diagnostics refer to tests performed to examine, check, and monitor the heart condition if an individual is suffering from cardiovascular diseases or disorders. There is an extensive range of diagnostic tests available such as ECG, invasive & non-invasive tests, cardiovascular autonomic reflex test, and other laboratory tests.
Cardiovascular diseases are most commonly occurring health conditions these days and the prevention of cardiac diseases by monitoring the heart conditions via different diagnostic tools available such by using different serum-based tests and in-vitro diagnostic tools (electrocardiogram, echocardiograph, and transesophageal echocardiogram) is of immense importance for obtaining rapid results for immediate diagnosing and treatment. According to WHO, around 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Myocardial infarction is one of the conditions that occur due to cardiovascular diseases. It causes significant mortality and morbidity. A timely diagnosis of heart conditions allows clinicians to analyze the risk of their patients and prescribe relevant treatment.
Moreover, cardiovascular diseases claim more lives each year than all forms of cancer and chronic lower Respiratory Disease combined. For instance, according to American Heart Association (AHA), in 2017, Coronary Heart Disease was the leading cause (42.6%) of deaths attributable to cardiovascular disease in the US, followed by stroke (17.0%), high blood pressure (10.5%), heart failure (9.4%), diseases of the arteries (2.9%), and other cardiovascular diseases (17.6%). CVD is the leading global cause of death. CVD accounted for approximately 17.8 million deaths in 2017. This number is expected to grow to more than 22.2 million by 2030, according to a 2014 study. CVD and stroke accounted for 14% of total health expenditures in 2014 to 2015. This is more than any major diagnostic group.
There are several factors which influence the growth of the cardiovascular diagnostic testing market. Some of the key factors include rise in demand for the early diagnosis and testing of various cardiovascular diseases, development and advancement in diagnostic tools, growth in geriatric population and rising number of patients suffering from heart attacks & chest pain due to sedentary lifestyles are expected to drive the market in the coming years. Other key growth drivers include rise in the number of new cardiovascular cases diagnosed each year and increase in demand for disease-specific treatment in which cardiovascular diagnostic tools are used. Increasing prevalence of cardiovascular diseases is expected to boost the cardiovascular diagnostic testing market during the forecast period. According to World Health Organization, about 17.7 million people die each year from cardiovascular diseases (CVDs) and it is estimated to be the cause of 31% of the total deaths worldwide. Around 80% of all CVD deaths is due to heart attacks and strokes.
Furthermore, ability of cardiac markers for accurate and rapid prediction of heart failure after the onset of chest pain has added boost to the market growth. In addition, promising features such as high accuracy, quick outcomes and economic pricing of cardiac point of care (POC) testing is driving the growth of cardiovascular diagnostic testing market, globally.
However, the development of other methods for diagnosis of cardiovascular diseases, along with high cost of procedure, lack of full proof assurance, and steep competition among existing players are anticipated to restrain the cardiovascular diagnostic testing market growth during the forecast period.
The global cardiovascular diagnostic testing market is segmented into type, panel, end user, and region. On the basis of type, the market is categorized into Laboratory developed test and In-Vitro diagnostic test. Laboratory developed test is further categorized into lipoprotein test, angiotensin test, fibrinogen test, serum uric acid test, and high-sensitivity c-reactive protein (hsCRP). In-vitro diagnostic test is further categorized into electrocardiogram test, echocardiography test, transesophageal echocardiogram test, and others. Furthermore, the panel segment includes Atherosclerotic cardiovascular disease (ASCVD) risk panel with score and end user segment is divided into Laboratory testing facilities, Academic institutes and Point-of-care testing facilities. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global cardiovascular diagnostic testing market are Abbott Laboratories, Becton, Dickinson and Company, bioMérieux, Inc., Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Siemens AG, Thermo Fisher Scientific Inc., and Tosoh Corporation.
According to World Health Organization (WHO), cardiovascular diseases (CVDs) are a group of disorders of the heart and blood vessels and include coronary heart disease, cerebrovascular disease, rheumatic heart disease and other conditions. More than four out of five CVD deaths are due to heart attack and strokes and one third of these deaths occur prematurely in people under 70 years of age. Cardiovascular diagnostics refer to tests performed to examine, check, and monitor the heart condition if an individual is suffering from cardiovascular diseases or disorders. There is an extensive range of diagnostic tests available such as ECG, invasive & non-invasive tests, cardiovascular autonomic reflex test, and other laboratory tests.
Cardiovascular diseases are most commonly occurring health conditions these days and the prevention of cardiac diseases by monitoring the heart conditions via different diagnostic tools available such by using different serum-based tests and in-vitro diagnostic tools (electrocardiogram, echocardiograph, and transesophageal echocardiogram) is of immense importance for obtaining rapid results for immediate diagnosing and treatment. According to WHO, around 17.9 million people died from CVDs in 2016, representing 31% of all global deaths. Myocardial infarction is one of the conditions that occur due to cardiovascular diseases. It causes significant mortality and morbidity. A timely diagnosis of heart conditions allows clinicians to analyze the risk of their patients and prescribe relevant treatment.
Moreover, cardiovascular diseases claim more lives each year than all forms of cancer and chronic lower Respiratory Disease combined. For instance, according to American Heart Association (AHA), in 2017, Coronary Heart Disease was the leading cause (42.6%) of deaths attributable to cardiovascular disease in the US, followed by stroke (17.0%), high blood pressure (10.5%), heart failure (9.4%), diseases of the arteries (2.9%), and other cardiovascular diseases (17.6%). CVD is the leading global cause of death. CVD accounted for approximately 17.8 million deaths in 2017. This number is expected to grow to more than 22.2 million by 2030, according to a 2014 study. CVD and stroke accounted for 14% of total health expenditures in 2014 to 2015. This is more than any major diagnostic group.
There are several factors which influence the growth of the cardiovascular diagnostic testing market. Some of the key factors include rise in demand for the early diagnosis and testing of various cardiovascular diseases, development and advancement in diagnostic tools, growth in geriatric population and rising number of patients suffering from heart attacks & chest pain due to sedentary lifestyles are expected to drive the market in the coming years. Other key growth drivers include rise in the number of new cardiovascular cases diagnosed each year and increase in demand for disease-specific treatment in which cardiovascular diagnostic tools are used. Increasing prevalence of cardiovascular diseases is expected to boost the cardiovascular diagnostic testing market during the forecast period. According to World Health Organization, about 17.7 million people die each year from cardiovascular diseases (CVDs) and it is estimated to be the cause of 31% of the total deaths worldwide. Around 80% of all CVD deaths is due to heart attacks and strokes.
Furthermore, ability of cardiac markers for accurate and rapid prediction of heart failure after the onset of chest pain has added boost to the market growth. In addition, promising features such as high accuracy, quick outcomes and economic pricing of cardiac point of care (POC) testing is driving the growth of cardiovascular diagnostic testing market, globally.
However, the development of other methods for diagnosis of cardiovascular diseases, along with high cost of procedure, lack of full proof assurance, and steep competition among existing players are anticipated to restrain the cardiovascular diagnostic testing market growth during the forecast period.
The global cardiovascular diagnostic testing market is segmented into type, panel, end user, and region. On the basis of type, the market is categorized into Laboratory developed test and In-Vitro diagnostic test. Laboratory developed test is further categorized into lipoprotein test, angiotensin test, fibrinogen test, serum uric acid test, and high-sensitivity c-reactive protein (hsCRP). In-vitro diagnostic test is further categorized into electrocardiogram test, echocardiography test, transesophageal echocardiogram test, and others. Furthermore, the panel segment includes Atherosclerotic cardiovascular disease (ASCVD) risk panel with score and end user segment is divided into Laboratory testing facilities, Academic institutes and Point-of-care testing facilities. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major companies that operate in the global cardiovascular diagnostic testing market are Abbott Laboratories, Becton, Dickinson and Company, bioMérieux, Inc., Bio-Rad Laboratories Inc., Danaher Corporation, F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Siemens AG, Thermo Fisher Scientific Inc., and Tosoh Corporation.
KEY BENEFITS FOR STAKEHOLDERS
- The study provides an in-depth analysis of the global cardiovascular diagnostic testing market along with the current trends and future estimations to elucidate the imminent investment pockets.
- A comprehensive analysis of the factors that drive and restrict the market growth is provided in the report.
- Comprehensive quantitative analysis of the industry from 2020 to 2030 is provided to enable the stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the key segments of the industry helps to understand the products and end users of cardiovascular diagnostic testing used across the globe.
- Key market players and their strategies have been analysed to understand the competitive outlook of the market.
KEY MARKET SEGMENTS
By Type
- Laboratory Developed Test
- Lipoprotein Test
- Angiotensin Test
- Fibrinogen Test
- Serum Uric Acid Test
- High-sensitivity C-reactive protein (hsCRP)
- In-Vitro Diagnostic Test
- Electrocardiogram Test
- Echocardiography Test
- Transesophageal Echocardiogram Test
- Others
By Panel
- Atherosclerotic cardiovascular disease (ASCVD) risk panel with score
By End User
- Laboratory Testing Facilities
- Academic Institutes
- Point-of-Care Testing Facilities
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- Spain
- Italy
- UK
- Rest of Europe
- Asia-Pacific
- Australia
- Japan
- India
- China
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
KEY MARKET PLAYERS
- Abbott Laboratories
- Becton, Dickinson and Company
- bioMérieux, Inc.
- Bio-Rad Laboratories, Inc.
- Danaher Corporation
- F. Hoffmann-La Roche Ltd
- PerkinElmer, Inc.
- Siemens AG
- Thermo Fisher Scientific, Inc.
- Tosoh Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET LANDSCAPE
CHAPTER 4: CARDIOVASCULAR DIAGNOSTIC TESTING MARKET, BY TYPE
CHAPTER 5: CARDIOVASCULAR DIAGNOSTIC TESTING MARKET, BY PANEL
CHAPTER 6: CARDIOVASCULAR DIAGNOSTIC TESTING MARKET, BY END USER
CHAPTER 7: CARDIOVASCULAR DIAGNOSTIC TESTING MARKET, BY REGION
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Companies Mentioned
- Abbott Laboratories
- Becton
- Dickinson
- Company
- bioMérieux Inc.
- Bio-Rad Laboratories Inc.
- Danaher Corporation
- F. Hoffmann-La Roche Ltd.
- Perkinelmer Inc.
- Siemens AG
- Thermo Fisher Scientific Inc.
- Tosoh Corporation
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 205 |
| Published | November 2021 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 6876.29 million |
| Forecasted Market Value ( USD | $ 15430.46 million |
| Compound Annual Growth Rate | 8.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
