Troponin Market to hit $3.55 billion, Globally, by 2031 at 12.5% CAGR, says Coherent Market Insights
The global Troponin Market was valued at US$ 1.38 Bn in 2023 and is expected to exhibit a CAGR of 12.5% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights. Companies covered: Roche Diagnostics, Abbott Laboratories, Beckman Coulter, Response Biomedical, Vitro, Siemens Healthcare GmbH, Radiometer Medical ApS, bioMérieux SA, Thermo Fisher Scientific, Mitsubishi Chemical Europe
Burlingame, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The global Troponin Market, valued at $1.38 billion in 2023, is on a trajectory of rapid expansion, with projections indicating it will soar to $3.55 billion by 2031, growing at a compound annual growth rate (CAGR) of 12.5% from 2023 to 2030, as per a recent report by Coherent Market Insights. Increasing demand for troponin testing is being driven by the need for early detection of cardiovascular diseases. Heart diseases have become one of the leading causes of mortality worldwide. Regular detection and monitoring of troponin levels helps physicians in early diagnosis of conditions like myocardial infarction. Early diagnosis improves treatment outcomes and survival rates of patients. This has increased the demand for troponin tests amongst physicians. Furthermore, rising geriatric population prone to heart ailments has also fueled the need for troponin testing.
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Market Dynamics:
The Global Troponin Market is primarily driven by the rising incidence of cardiovascular diseases worldwide. Troponin tests are extensively used to diagnose acute myocardial infarction (AMI). According to the World Health Organization (WHO), cardiovascular diseases account for over 17.9 million deaths globally every year, which is estimated to grow to more than 23.6 million by 2030. Moreover, changing lifestyle habits such as increased alcohol consumption, smoking, and physical inactivity have further increased the burden of cardiovascular diseases. Troponin test helps in early detection of cardiac injury and therefore aids in timely treatment of patients.
The market is also driven by technological advancements in troponin testing systems. Various companies are focused on developing high sensitivity troponin tests with improved accuracy and quick turnaround time. This is expected to enhance detection capabilities and propel market growth over the forecast period.
Global Troponin Market Report Coverage
| Report Coverage | Details |
| Market Revenue in 2024 | $1.38 billion |
| Estimated Value by 2031 | $3.55 billion |
| Growth Rate | Poised to grow at a CAGR of 12.5% |
| Historical Data | 2019–2023 |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product Type, By Application, By End User |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Growth Drivers | • Increasing incidence of cardiac diseases • Technological advancements in troponin testing • Development of high sensitive troponin assays • Increasing adoption of point-of-care testing |
| Restraints & Challenges | • Unfavorable reimbursement scenario • High cost of advanced troponin tests • Lack of awareness regarding advanced cardiac diagnostics |
Market Trends:
The trend of point-of-care troponin testing is growing worldwide due to advantages such as quick test results and decentralized patient management. Portable troponin analyzers offer testing at the bedside, ambulance, emergency rooms, etc. For instance, Abbott Laboratories offers its ARCHITECT STAT High Sensitive Troponin-I assay which can provide troponin test results in just 30 minutes. Increased adoption of such POC systems is expected to support market growth.
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Leading players are focused on developing home use troponin test kits to detect cardiac injury outside healthcare facilities. For example, in January 2021, Swiss company Roche received U.S. FDA clearance for its cobas pulse troponin home collection kit which allows patients to self-collect capillary blood samples at home. Availability of reliable home testing solutions is anticipated to boost remote cardiac monitoring and patient accessibility to troponin tests over the forecast period.
The global troponin market, by product type, is segmented into troponin I, troponin T, troponin complex, and others. Troponin I segment is expected to hold the largest market share over the forecast period. Troponin I is a cardiac muscle protein that helps regulate muscle contraction and is only found in heart muscle. When heart muscle is injured, troponin I leaks into the bloodstream, making it a very specific marker for detecting a heart attack.
The application segments of the global troponin market include myocardial infarction, acute coronary syndrome, congestive heart failure, cardiomyopathy, and others. Among them, myocardial infarction segment holds the largest share in the market. Myocardial infarction, commonly known as a heart attack, occurs when blood flow decreases or stops to a part of the heart, causing damage to the heart muscle. Since troponin tests can identify heart attack within 3 to 4 hours after the onset of chest pain, it is widely used for the diagnosis of myocardial infarction.
Key Market Takeaways:
The global troponin market is anticipated to witness a CAGR of 12.5% during the forecast period 2024-2031, owing to rapid rise in cardiovascular disorders worldwide.
On the basis of product type, troponin I segment is expected to hold a dominant position, owing to its high cardiac specificity. On the basis of application, myocardial infarction segment is expected to lead the market over the forecast period due to increasing cases of heart attacks globally.
On the basis of end user, hospitals segment holds the largest share currently and is expected to dominate over the forecast period due to availability of advanced diagnostic facilities. By region, North America is expected to hold a dominant position over the forecast period, due to rising healthcare expenditure and growing geriatric population in the region.
Key players operating in the global troponin market include Roche Diagnostics, Abbott Laboratories, Beckman Coulter, Response Biomedical, Vitro, Siemens Healthcare GmbH, Radiometer Medical ApS, bioMerieux SA, Thermo Fisher Scientific, and Mitsubishi Chemical Europe among others. Strategic collaborations and new product launches are some of the key strategies adopted by major players to consolidate their market position.
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Recent Developments:
In October 2023, Mediport and GE HealthCare inaugurated the first of its kind One-Stop Clinic to serve cardiology patients.
In 2021, Roche Diagnostics, launched a series of five new intended uses for two key cardiac biomarkers using the Elecys technology: high sensitive cardiac troponin T and N-terminal pro-brain natriuretic peptide test.
Detailed Segmentation:
By Product Type:
- Troponin I
- Troponin T
- Troponin Complex
- Others (Troponin C)
By Application:
- Myocardial Infarction
- Acute Coronary Syndrome
- Congestive Heart Failure
- Cardiomyopathy
- Others (Pulmonary Embolism)
By End User:
- Hospitals
- Diagnostics Laboratories
- Home Care
- Others (Doctor's Clinics)
By Region:
North America:
- U.S.
- Canada
Latin America:
- Brazil
- Argentina
- Mexico
- Rest of Latin America
Europe:
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
Asia Pacific:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
Middle East:
- GCC Countries
- Israel
- Rest of Middle East
Africa:
- South Africa
- North Africa
- Central Africa
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About Us:
Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.
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