Heart Attack Diagnostics Market by End-User and Geography - Forecast and Analysis 2022-2026

The heart attack diagnostics market share is expected to increase by USD 5.34 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.51%.

This heart attack diagnostics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers heart attack diagnostics market segmentation by end-user (hospitals, ambulatory surgical centers, diagnostic centers, and others) and geography (North America, Europe, Asia, and the Rest of the World (ROW)). The heart attack diagnostics market report also offers information on several market vendors, 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 Holdings Corp., General Electric Co., HILL ROM HOLDINGS Inc., Hitachi Ltd., Koninklijke Philips NV, Midmark Corp., Nihon Kohden Corp, SCHILLER AG, Siemens AG, and Toshiba Corp. among others.

What will the Heart Attack Diagnostics Market Size be During the Forecast Period?

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Heart Attack Diagnostics Market: Key Drivers, Trends, and Challenges

The rising prevalence of cardiac disorders is notably driving the heart attack diagnostics market growth, although factors such as pricing pressure among the vendors may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the heart attack diagnostics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Heart Attack Diagnostics Market Driver

The rising prevalence of cardiac disorders is one of the major drivers impacting the heart attack diagnostics market growth. The prevalence of cardiac disorders such as bradycardia, sick sinus syndrome, valvular diseases, atrioventricular blocks, ventricular fibrillation, and tachycardia has increased globally over the past few years, resulting in the increasing occurrence of cardiac arrests worldwide. Similarly, the growing geriatric population, the rise in cases of congenital heart defects, and other heart-related disorders are the other factors behind the adoption of cardiac diagnostics for heart attacks, resulting in the growth of the global heart attack diagnostics market during the forecast period.

Key Heart Attack Diagnostics Market Trend

New product launches coupled with R&D activities is one of the major trends influencing the heart attack diagnostics market growth. Vendors are strategically focusing on the development and fast approvals of new heart attack diagnostic devices. New product development coupled with R&D activities helps the vendors to sustain their position within the fragmented heart attack diagnostics market and enhance their growth. Vendors are actively involved in launching innovative devices for enhancing the clinical outcomes of heart attack diagnostic devices, such as electrocardiogram (ECG) machines and Troponin for greater visualization. In addition, vendors are actively engaged in R&D activities and are planning to launch innovative products in the coming years. They are concentrating on developing technologically advanced 3D mammography equipment. Therefore, the introduction of the new diagnostic products, coupled with vendors' growing focus on R&D activities, will have a positive impact on the growth of the global heart attack diagnostics market during the forecast period.

Key Heart Attack Diagnostics Market Challenge

Pricing pressure among the vendors is one of the major challenges impeding the heart attack diagnostics market growth. The global heart attack diagnostics market is experiencing intense competition among key global and local/regional manufacturers. The market is mainly dominated by some global players; however, a few regional players also operate in the market. Local players manufacture and sell their products at a significantly lower cost than global vendors such as Abbott, F. Hoffmann-La Roche AG, and Siemens Healthcare. In addition, the lower pricing strategy creates pressure on leading players to reconsider their pricing strategy in the present market scenario. Hence the key players develop strategies to have a competitive edge over other leading as well as local/regional players. Inorganic strategies like M&A, partnerships, and collaborations with the regional players by leading players are essential for the growth prospect of the market. However, if such strategies are not followed, it may restrain the growth of the global heart attack diagnostic market during the forecast period.

This heart attack diagnostics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global heart attack diagnostics market as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the heart attack diagnostics market during the forecast period.

Who are the Major Heart Attack Diagnostics Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, 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 Holdings Corp.
• General Electric Co.
• HILL ROM HOLDINGS Inc.
• Hitachi Ltd.
• Koninklijke Philips NV
• Midmark Corp.
• Nihon Kohden Corp
• SCHILLER AG
• Siemens AG
• Toshiba Corp.

This statistical study of the heart attack diagnostics market encompasses successful business strategies deployed by the key vendors. The heart attack diagnostics market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Abbott Laboratories - Abbott Laboratories is a public company headquartered in the US. It is a global company generating $43,075 million in revenues and has around 113,000 employees. Its revenue from the global heart attack diagnostics market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company. 
• Abbott Laboratories - The company offers heart attack diagnostics products namely Architect i1000SR. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The heart attack diagnostics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Heart Attack Diagnostics Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the heart attack diagnostics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for the Heart Attack Diagnostics Market?

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41% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the heart attack diagnostics market in North America. Market growth in this region will be slower than the growth of the market in other regions.

The high prevalence of heart disorders such as congenital heart diseases (CHDs), heart valve diseases, stenosis, and atresia in the region will facilitate the heart attack diagnostics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 negatively impacted the market in this region. Due to the adverse effects of COVID-19, a large number of healthcare facilities were forced to lay off employees, which further resulted in the temporary closure of several healthcare units specialized in cardiac treatment. Therefore, the growth of the heart attack diagnostics market in North America declined in the first half of 2020. However, in the second half of 2020, several market vendors started offering portable mobile heart attack diagnostic devices through digital channels, which helped the market to deal with the pandemic's negative effects by registering growth through the online channels.

What are the Revenue-generating End-user Segments in the Heart Attack Diagnostics Market?

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The heart attack diagnostics market share growth in the hospital segment will be significant during the forecast period. The increasing prevalence of hypertension, high blood cholesterol, and smoking are key contributors to the high number of cardiovascular diseases(CVDs) across the globe. In addition, the rising number of cardiac cases such as heart attacks and stroke increased the need for detection of troponin, C-Reactive Protein, and creatine kinase, which led to a surge in the establishment of hospitals concerning the heart attack diagnostics market during the forecast period. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the heart attack diagnostics market size and actionable market insights on post COVID-19 impact on each segment.

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What are the Key Data Covered in this Heart Attack Diagnostics Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive heart attack diagnostics market growth during the next five years
• Precise estimation of the heart attack diagnostics market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the heart attack diagnostics industry across North America, Europe, Asia, and the Rest of the World (ROW)
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of heart attack diagnostics market vendors

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