Future Market Insights (FMI) projects a strong year-over-year growth of over 5% in revenue for the global cardiac reader system market, with total sales approaching USD 1.5 billion in 2019. Benchtop analyzers, which make up more than 80% of total cardiac reader system sales, continue to dominate due to their robust functionality, though compact analyzers are gaining popularity for ease of use. Enzyme immunoassay analyzers are the leading choice, representing over 40% of demand, while chemiluminescence and magnetic immuno-chromatographic analyzers together contribute more than 45% to global sales. Hospitals, clinics, and diagnostic laboratories are primary users, with laboratories alone expected to account for over a quarter of total sales by the end of 2019.
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.
CARDIAC READER SYSTEM MARKET TAXONOMY
The 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
Report Preview: https://www.futuremarketinsights.com/reports/cardiac-reader-system-market
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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