Heart Attack Diagnostics Market Analysis North America, Europe, Asia, Rest of World (ROW) - US, Germany, UK, Canada, China - Size and Forecast 2024-2028

Heart Attack Diagnostics Market Size 2024-2028

The heart attack diagnostics market size is forecast to increase by USD 4.99 billion at a CAGR of 7.1% between 2023 and 2028.

• The market is experiencing significant growth due to several factors. The rising prevalence of cardiac disorders, driven by lifestyle choices such as air pollution exposure, obesity, tobacco use, physical inactivity, and alcohol consumption, is a major market driver. The market is witnessing advancements in medical technology, with various diagnostic modalities available for the detection of heart attacks. These include ECG technology, troponin tests, imaging tests such as echocardiography and coronary angiography, and cardiac MRI.
• Additionally, the elderly population, which is more susceptible to heart attacks, is increasing, leading to a greater demand for diagnostic tests. New product launches and ongoing research and development efforts are also contributing to market growth. However, pricing pressure among companies remains a challenge. Technologically advanced solutions, such as electrocardiograms and blood tests like Troponin T, CK-MB, and creatine kinase, are increasingly being adopted for accurate and early diagnosis of heart attacks. Healthcare technology continues to advance, enabling faster and more efficient diagnosis and treatment. Overall, the market is poised for continued growth in the coming years.

What will be the Size of the Market During the Forecast Period?

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• The market is witnessing significant growth due to the increasing prevalence of cardiovascular diseases (CVDs) and non-communicable diseases (NCDs) in the US population. These conditions are often linked to metabolic factors, behavioral factors, and environmental factors, such as sedentary lifestyles, high blood pressure, and hypertension. Myocardial infarction, also known as a heart attack, occurs when there is a disruption in the oxygen supply to the heart muscle due to a blockage in the blood flow. This condition can lead to chest pain, exhaustion, and breathing difficulty. Early and accurate diagnosis is crucial to prevent further complications and improve patient outcomes.

• ECG technology is a non-invasive test that measures the electrical activity of the heart. Troponin tests are blood tests that measure the levels of cardiac biomarkers, which are released into the bloodstream during a heart attack. Imaging tests, such as echocardiography and coronary angiography, provide visual images of the heart and blood vessels to help diagnose heart attacks. Cardiac MRI uses magnetic resonance imaging to produce detailed images of the heart and surrounding tissues.

How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

• End-user
  • Hospitals
  • Ambulatory surgical centers
  • Diagnostic centers
  • Others
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
  • Asia
    • China
  • Rest of World (ROW)

By End-user Insights

• The hospitals segment is estimated to witness significant growth during the forecast period.

The market is experiencing significant growth due to the rising prevalence of risk factors such as air pollution, obesity, tobacco use, physical inactivity, and alcohol consumption. These factors contribute to the increasing number of cardiovascular diseases (CVDs), particularly heart attacks and strokes. As a result, there is a growing demand for advanced diagnostic tools like blood tests for troponin T and CK-MB, as well as electrocardiograms (ECGs), to detect and diagnose heart attacks. The elderly population is a major consumer of these diagnostic services, given their higher susceptibility to CVDs. Hospitals are the largest revenue contributors to the market due to the high volume of cardiac patients they serve.

Changes in reimbursement policies by the Centers for Medicare and Medicaid Services (CMS) further drive the establishment of hospitals specialized in cardiology. In summary, The market is witnessing growth due to the increasing burden of CVD risk factors and the resulting demand for advanced diagnostic tools.

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The hospitals segment was valued at USD 5.03 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

• North America is estimated to contribute 44% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The North American market is experiencing notable growth due to the high incidence of heart conditions, including congenital heart diseases (CHDs), heart valve diseases, stenosis, and atresia, in the region. Approximately one-third (30.9%) of all deaths in the US, or over 800,000 annually, are attributed to cardiovascular diseases (CVDs). Furthermore, the expanding senior population and the increasing consumption of unhealthy food, as well as the rising instances of hypertension, stress, and fatigue, are fueling the demand for heart attack diagnostics in North America. Consequently, the regional market is poised for expansion during the forecast period. Heart attacks, also known as myocardial infarctions, can exhibit various symptoms, such as chest pain or discomfort, shortness of breath, and heart failure symptoms.

To diagnose heart attacks, healthcare professionals employ various techniques, including Electrocardiograms (ECGs), Angiograms, and Computerized cardiac tomography (CCT). These diagnostic tools provide valuable insights into the presence and severity of coronary artery blockages, which are a leading cause of heart attacks. Financial support and reimbursement facilities play a crucial role in the growth of the market. In the US, for instance, the Centers for Medicare & Medicaid Services (CMS) covers various diagnostic tests and procedures related to heart attacks under its Medicare program. Additionally, the increasing availability of noninvasive cardiac testing methods, such as mobile vans, has made heart attack diagnostics more accessible and convenient for patients.

Market Dynamics

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

What are the key market drivers leading to the rise in adoption of Heart Attack Diagnostics Market?

The rising prevalence of cardiac disorders is the key driver of the market.

• The prevalence of cardiac disorders is a growing public health issue, with conditions such as bradycardia, sick sinus syndrome, valvular diseases, atrioventricular blocks, ventricular fibrillation, and tachycardia seeing an increase in incidence. This trend is attributed to several factors, including the aging population and the rise in congenital heart defects and other heart-related disorders. By 2050, it is projected that nearly one-fifth of the global population will be aged 65 or older, making older adults more susceptible to cardiovascular diseases (CVD), which affect approximately 79-86% of individuals in this age group. Early detection of cardiac arrest is crucial for effective treatment and improving patient outcomes.

• Ambulatory surgical centers and diagnostic centers play a vital role in providing timely and accurate diagnosis. Symptoms such as shortness of breath, nausea, and chest pain can indicate a heart attack. Smoking and sedentary lifestyles are significant risk factors. Diagnostic tests, including cardiac enzymes and troponin, can help identify heart damage. Imaging tests, such as echocardiography and coronary angiography, provide visual representations of the heart and blood vessels. These tests are essential for accurate diagnosis and guiding treatment plans. Early detection of heart attacks is crucial for effective treatment and improving patient outcomes. Symptoms such as shortness of breath, nausea, and chest pain can indicate a heart attack.

What are the market trends shaping the Heart Attack Diagnostics Market?

New product launches coupled with research and development activities is the upcoming trend in the market.

• Heart attack diagnostics is a critical area of focus for companies due to the increasing prevalence of unhealthy lifestyle choices leading to non-communicable diseases such as cardiovascular diseases. Myocardial infarction, or heart attack, occurs when there is a disruption in the oxygen supply to the heart muscle due to blood flow obstruction. This condition can be caused by various metabolic and behavioral factors, including high blood pressure, unhealthy diet, and elevated cholesterol levels. Diabetes is another significant risk factor. To address this growing health concern, companies are investing in the development and approval of advanced heart attack diagnostic devices.

• New product launches and research and development activities are key strategies for companies to maintain their market position and drive growth in this fragmented industry. For instance, some companies are introducing innovative devices like electrocardiogram (ECG) machines and Troponin tests to improve clinical outcomes. Additionally, companies are focusing on research and development to launch technologically advanced 3D imaging equipment shortly.

What challenges does the Heart Attack Diagnostics Market face during its growth?

Pricing pressure among companies is a key challenge affecting market growth.

• The market is witnessing significant competition among major global and local players. While global companies such as Abbott, Roche, and Siemens hold a significant market share, regional players offer more affordable solutions. This pricing strategy puts pressure on leading players to reconsider their pricing strategies. In emerging economies, the demand for heart attack diagnostic products is high due to the prevalence of unhealthy lifestyles and an aging population.

• However, developed countries prioritize advanced and superior quality diagnostic modalities, giving established companies a strong foothold in the US, UK, Germany, and Japan markets. Medical technology advancements, including Cardiac MRI and CT angiography, are driving the market's growth. Preventive care initiatives and increasing healthcare expenditure further fuel the demand for heart attack diagnostics. The market's future growth is expected to be influenced by clinical trials and the integration of diagnostic technologies with artificial intelligence (AI) for enhanced accuracy and efficiency.

Exclusive Customer Landscape

The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.

Customer Landscape

Key Companies & Market Insights

Companies are implementing various strategies, such as strategic alliances, market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:

• Abbott Laboratories
• ACS Diagnostics Inc.
• Asahi Kasei Corp.
• AstraZeneca Plc
• Beckman Coulter Inc.
• Bio Rad Laboratories Inc.
• Bionet Co. Ltd.
• Boston Scientific Corp.
• Canon Inc.
• F. Hoffmann La Roche Ltd.
• FUJIFILM Corp.
• General Electric Co.
• Hill Rom Holdings Inc.
• Hitachi Ltd.
• Koninklijke Philips N.V.
• Midmark Corp.
• Nihon Kohden Corp.
• SCHILLER AG
• Siemens AG
• Toshiba Corp.

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Research Analyst Overview

The diagnostics market for heart attacks is witnessing significant growth due to the rising prevalence of non-communicable diseases, particularly cardiovascular diseases. Myocardial infarction, or heart attack, occurs when there is a blockage in the oxygen supply to the heart muscle due to a blood flow obstruction. This condition can be caused by various metabolic and behavioral factors, including high blood pressure, unhealthy diet, elevated cholesterol levels, diabetes, air pollution, obesity, tobacco use, physical inactivity, and alcohol consumption. Early detection of heart attacks is crucial for effective treatment and improving patient outcomes. Various diagnostic tests, such as blood tests for cardiac enzymes like troponin T and CK-MB, electrocardiograms (ECG), echocardiography, coronary angiography, and computerized cardiac tomography, are commonly used for diagnosing heart attacks.

Furthermore, the elderly population is particularly vulnerable to heart attacks due to age-related factors and the prevalence of chronic diseases like hypertension and sedentary lifestyles. Healthcare technology advancements, including mobile vans, hospitals, ambulatory surgical centers, and diagnostic centers, are making heart attack diagnostics more accessible and convenient for patients. Financial support and reimbursement facilities are also driving the growth of the market. Preventive care measures, such as clinical trials and diagnostic modalities, are gaining importance in the early detection and management of heart attacks. Medical technology advancements, including AI in cardiac diagnostics, are transforming the way heart attacks are diagnosed and treated.

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What are the Key Data Covered in this Market Research and Growth Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2024 and 2028
• Precise estimation of the size of the market and its contribution of the market in focus to the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behaviour
• Growth of the market across North America, Europe, Asia, and Rest of World (ROW)
• Thorough analysis of the market's competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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