Global cardiac reader system sales are expected to reach US$ 1,500 million in 2019, representing a solid Y-o-Y increase of more than 5% over 2018. Benchtop analyzers continue to account for over 80% of worldwide sales of cardiac reader systems, according to a recent research study by Future Market Insights (FMI). Although compact analyzer modularity appears to be gaining traction recently due to ease of use, it is quite likely that sales of benchtop variants will continue to rise in the next years.
According to FMI’s data, enzyme immunoassay analyzers account for more than 40% of the overall demand for cardiac reader systems. Chemiluminescence immunoassay analyzers and magnetic immuno-chromatographic assay analyzers, the next two most popular types of cardiac reader systems, account for nearly 45 percent of global cardiac reader system sales.
At hospitals and clinics, widespread adoption of cardiac reader systems is expected. Diagnostics are gaining traction, according to FMI’s analysis, and laboratories are very likely to create lucrative potential in terms of cardiac reader system adoption. By the end of 2019, laboratories will account for more than a quarter of all cardiac reader system sales.
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Troponin Remains Preferred Biomarker
In around 2/5th of the cardiac reader systems sold, globally, troponin is the sought-after type of marker. According to the report, creatine kinase will also demonstrate high growth potential over other marker types in the cardiac reader system market. Troponin is highly sensitive and specific-in-action, which impart it superior diagnostic abilities over other conventional biomarkers. Except for highly sensitive cardiac injury, troponin barely shows false positive tests for the diagnosis of heart attack, angina pectoris, and myocardial infarction.
In line with the mounting demand for high-accuracy, time-efficient, and effective diagnostic outcomes, manufacturers of cardiac reader systems are focused on augmenting their R&D investments. According to the report, increase in R&D efforts will create a plethora of new growth opportunities for the cardiac reader system market. In addition, the notable increase in funds from PPPs (public-private partnerships) for R&D of novel cardiac biomarkers is cited as an important booster for demand growth of cardiac reader system.
Developing Markets Observing Hike in Sales
Demand for cardiac reader system in developed regional markets account for over half of the global demand, according to the study. Although the demand remains strong in the US, and thereby in North American region, the report envisages stronger growth prospects for the cardiac reader system market in Europe.
Moreover, FMI’s study points to visibly growing potential of developing regions, for the expansion of cardiac reader system market. Following Asia Pacific excluding Japan (APEJ), market in Latin America and Middle East and Africa (MEA) is also reflecting signs of healthy growth in forthcoming years.
Collaborations Trending in the Competitive Landscape
Some of the key vendors actively operating in the global cardiac reader system industry, include Radiometer Medical Aps, Creative Diagnostics, Boditech Med Inc., Mitsubishi Chemical Europe GmbH, and Quidel Corporation. According to FMI’s analysis, F. Hoffmann-La Roche Ltd., Beckman Coulter Inc., Siemens AG., and Abbott Laboratories are among the Tier 1 manufacturers of cardiac reader systems and account for a substantial revenue share in the global market.
Key manufacturers of cardiac reader systems are focusing on collaborations with universities and associations to develop their product portfolio. In March 2017, Abbott Laboratories had announced the collaboration with the Hennepin County Medical Center and the University of Minnesota, over the development of markers to be used in the guiding treatment.
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CARDIAC READER SYSTEM MARKET TAXONOMYThe global Cardiac Reader System market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
Modularity Type
- Benchtop Analyzers
- Compact Analyzers
Product Type
- Enzyme Immunoassay Analyzers
- Chemiluminiscenece Immunoassay Analyzers
- Magnetic Immuno-Chromatographic Assay Analyzers
- Immuno-Fluorescence Analyzers
Marker Type
- Troponin
- Creatine Kinase
- Myoglobin
- Others
End Use
- Hospitals and Clinics/li>
- Laboratories
- Ambulatory Surgical Centers
- Other End Use
Region
- North America
- Latin America
- Europe
- Japan
- APEJ
- MEA
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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