Cardiovascular Diagnostic Testing Market 2030
The increase in number of patients suffering from cardiovascular diseases, further fuels the growth of the global cardiovascular diagnostic testing market.
Surge in geriatric population along with rise in prevalence of cardiovascular diseases have boosted the growth of the global cardiovascular diagnostic testing market.— Allied Market Research
WILMINGTON, DELAWARE, UNITED STATES, July 15, 2024 /
EINPresswire.com/ -- Allied Market Research recently published a report, titled, "
Cardiovascular Diagnostic Testing Market by Type (Laboratory Developed Tests and In-Vitro Diagnostic Tests), Panel (Atherosclerotic Cardiovascular Disease Risk Panel with Score), and End User (Laboratory Testing Facilities, Academic Institutes, and Point-of-Care Testing Facilities): Global Opportunity Analysis and Industry Forecast, 2021-2030". As per the report, the global cardiovascular diagnostic testing market generated $6.87 billion in 2020, and is estimated to reach $15.43 billion by 2030, growing at a CAGR of 8.3% from 2021 to 2030.
Rise in medical technology innovations, initiatives to spread awareness among patients, and surge in geriatric population along with rise in prevalence of cardiovascular diseases have boosted the growth of the global cardiovascular diagnostic testing market. However, changes in FDA regulation and guidance of LDTs and limited insurance coverage and high cost of devices hinder the market growth. On the contrary, development of healthcare infrastructure in emerging nations is expected to open new opportunities for the market players in the future.
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Abbott Laboratories, bioMรฉrieux, Inc., Becton, Dickinson and Company, Bio-Rad, Laboratories, Inc., F. Hoffmann-La Roche Ltd, Danaher Corporation, PerkinElmer, Inc., Thermo Fisher Scientific, Inc., Siemens AG, Tosoh Corporation
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๐๐ก๐ ๐ข๐ง-๐ฏ๐ข๐ญ๐ซ๐จ ๐๐ข๐๐ ๐ง๐จ๐ฌ๐ญ๐ข๐ ๐ญ๐๐ฌ๐ญ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ข๐ง๐๐ญ๐๐ ๐ญ๐ก๐ ๐ฆ๐๐ซ๐ค๐๐ญ
By type, the in-vitro diagnostic segment held the largest share in 2020, accounting for more than 90% of the global cardiovascular diagnostic testing market, due to increase in demand for non-invasive diagnostic techniques and technological advancements that allow replacing old conventional devices with new ones. However, the laboratory-developed test segment is projected to manifest the highest CAGR of 11.2% during the forecast period, as they offer accurate, quality testing for several cardiovascular diseases.
๐๐ก๐ ๐ฉ๐จ๐ข๐ง๐ญ ๐จ๐ ๐๐๐ซ๐ ๐ญ๐๐ฌ๐ญ๐ข๐ง๐ ๐๐๐๐ข๐ฅ๐ข๐ญ๐ข๐๐ฌ ๐ฌ๐๐ ๐ฆ๐๐ง๐ญ ๐ญ๐จ ๐ฉ๐จ๐ซ๐ญ๐ซ๐๐ฒ ๐ญ๐ก๐ ๐ก๐ข๐ ๐ก๐๐ฌ๐ญ ๐๐๐๐ ๐ญ๐ก๐ซ๐จ๐ฎ๐ ๐ก ๐๐๐๐
By end user, the point of care testing facilities segment is expected to portray the highest CAGR of 8.7% during the forecast period, as it enables rapid detection of analytes near to the patient, which facilitates quick medical decisions and better disease diagnosis, management, and monitoring. However, the laboratory testing facilities segment held the largest share in 2020, contributing to more than two-fifths of the global cardiovascular diagnostic testing market, owing to rise in prevalence of cardiovascular diseases and increase in demand for laboratory testing.
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Cardiovascular diagnostic testing can provide a wealth of information about the electrical activity of the heart, heartbeat rhythm, how well blood is pumping through the heartโs chamber and valves, how easily blood is flowing through the coronary arteries to the heart muscle, and whether there are tumors or abnormalities in the structure of the cardiovascular system. Laboratory tests are used to detect the risk factors for heart diseases. These include detection of the fats, cholesterol and lipid components of blood including LDL, HDL, triglycerides. Blood sugar and glycosylated hemoglobin is measured for detection of diabetes. C-reactive protein is protein (CRP) and other protein markers like apolipoprotein A1 and B are used to detect inflammation that may lead to heart disease.
The factors contribute to the growth of the market include, the rising geriatric population, unhealthy diet & sedentary lifestyle. Moreover, technological advancements in the treatment and devices, introduction of developed treatment procedures have boosted the growth of cardiovascular diagnostic testing market.
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โช๏ธ The Covid-19 pandemic has a positive impact on the market as the Covid-19 infection has severe imprecations in the cardiovascular system.
โช๏ธ The Covid-19 pandemic can promote several cardiovascular disorders such as arrhythmias, myocardial injury, and acute coronary syndrome.
โช๏ธ The Covid-19 pandemic has highlighted the importance of reliable diagnostic tests and the quick development of novel assays.
๐๐๐ญ ๐๐๐ญ๐๐ข๐ฅ๐๐ ๐๐๐๐๐-๐๐ ๐ข๐ฆ๐ฉ๐๐๐ญ ๐๐ง๐๐ฅ๐ฒ๐ฌ๐ข๐ฌ ๐จ๐ง ๐ญ๐ก๐ ๐๐๐ซ๐๐ข๐จ๐ฏ๐๐ฌ๐๐ฎ๐ฅ๐๐ซ ๐๐ข๐๐ ๐ง๐จ๐ฌ๐ญ๐ข๐ ๐๐๐ฌ๐ญ๐ข๐ง๐ ๐๐๐ซ๐ค๐๐ญ-
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๐ข๐ง๐๐ข๐ง๐ ๐ฌ ๐๐ ๐๐ก๐ ๐๐ญ๐ฎ๐๐ฒ
โช๏ธ By type, the in- vitro diagnostic test segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
โช๏ธ By end user, the laboratory testing facilities segment held the largest market share in 2020 and is expected to remain dominant during the forecast period.
โช๏ธ By region, North America is expected to experience market growth at the highest rate, registering a CAGR of 8.3% during the forecast period.
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