Heart Attack Diagnostics Market Overview
The Global Heart Attack Diagnostics Market is estimated to reach at a CAGR of 7.7% during the forecast period 2024-2031. In order to diagnose heart-related issues, advanced invasive monitoring technologies, and life support systems are needed. The most frequent initial heart attack diagnostic test is an electrocardiogram (EKG), which can be administered minutes after a patient arrives at the hospital. An EKG can determine whether a patient has suffered a heart attack.
Market Scope
| Metrics | Details |
| CAGR | 7.7% |
| Size Available for Years | 2021-2030 |
| Forecast Period | 2023-2030 |
| Data Availability | Value (US$) |
| Segments Covered | Test Type, End User, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle East & Africa |
| Fastest Growing Region | Asia-Pacific |
| Largest Region | North America |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis, and Orthopedic Surgery key Insights. |
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Market Dynamics
The High Prevalence of Cardiovascular Diseases is Expected to Drive the Market Growth
Cardiovascular disease prevalence is a complicated issue that is influenced by a number of variables, including dietary habits, environmental exposures, and genetic susceptibility. These elements can increase the risk of cardiovascular disease by causing high blood pressure, high cholesterol, obesity, and diabetes.
For instance, according to WHO 2021, with 17.9 million deaths per year, cardiovascular diseases (CVDs) are the leading cause of death worldwide. Coronary heart disease, cerebrovascular disease, rheumatic heart disease, and other illnesses are among the category of heart and blood vessel disorders known as CVDs.
Heart attacks and strokes account for more than four out of every five CVD deaths, and one third of these deaths happen before the age of 70. And as a result, heart disorders are on the rise, which stimulates the heart attack diagnostics market trend.
Lack of Skilled Workforce will Hamper the Market Growth
A major hurdle to the expansion of the heart attack diagnostics market is the lack of skilled employees in the healthcare sector. For instance, by 2030, the WHO projects that there will be a global shortfall of 13 million medical personnel. The market demand for such devices is expected to decline due to the shortage of medical professionals who are qualified to use medical equipment and perform diagnostic tests.Heart Attack Diagnostics Market Segment Analysis
The global heart attack diagnostics market is segmented based test type, end users, and region.
The Electrocardiogram Segment is Expected to Hold a Dominant Position in the Market Over the Forecast Period.
Electrocardiogram segment accounted for the biggest market stake accounting for approximately 47.5% of the heart attack diagnostics market size in 2022. The segment is anticipated to grow due to a number of factors, including an increase in the number of patients with chronic heart failure, rising demand for advanced cardiovascular treatment as a result of increased tobacco use, obesity, coronary heart diseases, and the adoption of an unhealthy diet that raises cholesterol levels.
For instance, in the United States (US), HF diagnoses result in more than one million hospital admissions and over 300,000 fatalities per year. By 2030, it is predicted to increase healthcare spending to USD 70 billion. The demand for the ECG, which is predicted to hold the greatest market share in the projected period, has been on the rise due to the rising number of cases of chronic heart failure.
Market Geographical Share
North America Holds a Dominant Position in the Global Heart Attack Diagnostics Market.
North America is estimated to hold about 41.3% of the total market share throughout the forecast period. According to a survey by the US Centres for Disease Control (CDC), an American may experience a heart attack every 40 seconds. One of the most expensive hospital treatments in the US is for heart attacks.
The American Heart Association estimates that by 2035, 47% of Americans would likely have heart disease. This is because of things like high rates of obesity, smoking, and poor lifestyles, which can result in heart attacks and other related problems.
Product launches and product approvals by the key players helps to dominate the region. For instance, in Feburary 2023, the launch of PrecisionCHD, an integrated epigenetic-genetic blood test for the early diagnosis of coronary heart disease, was announced by Cardio Diagnostics Holdings, a firm that uses artificial intelligence to advance precision cardiovascular care.
Companies and Competitive Landscape
The major global players in the market include F Hoffmann-La Roche Ltd, Hitachi Medical Systems, GE Healthcare, Schiller AG, Siemens Healthineers, HeartFlow, Beckman Coulter, Medtronic, Cardio Diagnostics Holdings Inc, and Midmark Corporation, among others.
COVID-19 Impact on Heart Attack Diagnostics Market
Russia-Ukraine War Impact Analysis
The Russia-Ukraine is estimated to have a minimal impact on the global heart attack diagnostics market owing to the absence of key market players in this region. However, the impact of the import and export of raw materials, test products, and devices is anticipated to have little influence over the global heart attack diagnostics market in the forecast period.
Artificial Intelligence Impact Analysis
Artificial intelligence is anticipated to impact positively. Because AI can be used to analyze large amounts of data from patient records, such as medical history, electrocardiograms (ECGs), and other diagnostic tests, to identify patterns and trends that may indicate an increased risk of heart attack. Machine learning algorithms can be trained on this data to identify subtle differences in patterns that may be missed by human physicians.
Key Developments
- In January 2021, in association with MOgene, LC, and InTeleLabs, (elicity), Cardio Diagnostics launched Epi+Gen CHD. The prevention of coronary heart disease, the most prevalent form of the disease and the main reason for heart attacks, is being redefined by the epigenetic-based, at-home clinical test Epi+Gen CHD.
- In September 2021, 'Project Heart Beat' was launched by the biopharmaceutical company AstraZeneca India in collaboration with the Bengaluru-based startup Tricog. Its goal is to reduce death rates via early and accurate diagnosis of heart attacks.
- In April 2021, the N-terminal pro-brain natriuretic peptide test (NT-proBNP) and high sensitivity cardiac troponin T (cTnT-hs), two important cardiac biomarkers, have been given a series of five new intended uses by Roche. These "gold standard" biomarkers have demonstrated efficacy in aiding the management of cardiovascular illness and can aid clinicians in the diagnosis of heart attacks and improved management of heart failure.
Why Purchase the Report?
- To visualize the global heart attack diagnostics market segmentation based on test type, end-user, and region, as well as understand key commercial assets and players.
- Identify commercial opportunities by analyzing trends and co-development.
- Excel data sheet with numerous data points of heart attack diagnostics market-level with all segments.
- PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
- Product mapping available as Excel consisting of key products of all the major players.
The global heart attack diagnostics market report would provide approximately 53 tables, 54 figures, and 195 Pages.
Target Audience 2023
- Manufacturers/ Buyers
- Industry Investors/Investment Bankers
- Research Professionals
- Emerging Companies
