Myoglobin Market by Type and Geography - Forecast and Analysis 2022-2026

The myoglobin market share is expected to increase by USD 99.2 million from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 4.1%.

This myoglobin 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 myoglobin market segmentation by type (animal myoglobin and human myoglobin) and geography (North America, Europe, Asia, and Rest of World (ROW)). The myoglobin (Mb) market report also offers information on several market vendors, including Abbott Laboratories, BBI Solutions, Bio Rad Laboratories Inc., bioMerieux SA, Boditech Med Inc., Danaher Corp., DiaSys Diagnostic Systems GmbH, F. Hoffmann La Roche Ltd., General Atomics, HORIBA Ltd., Merck KGaA, OriGene Technologies Inc., Ortho-Clinical Diagnostics Inc., PerkinElmer Inc., Randox Laboratories Ltd., Scripps Laboratories Inc., Siemens Healthineers AG, Thermo Fisher Scientific Inc., and Tosoh Corp. among others.

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

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Myoglobin Market: Key Drivers, Trends, and Challenges

The usage of myoglobin as a biomarker for the diagnosis of ACS and muscle injuries is notably driving the myoglobin market growth, although factors such as the requirement of proper storage and handling conditions 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 myoglobin industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Myoglobin Market Driver

• The usage of myoglobin as a biomarker for the diagnosis of ACS and muscle injuries is one of the key drivers supporting the myoglobin market growth.
• Myoglobin is released into the bloodstream of humans when their skeletal muscles are injured as a result of trauma, ischemia, and myopathy. 
• Myoglobin is also commonly used in combination with troponin proteins-which are needed for the contraction of cardiac and skeletal muscles as a marker for myocardial damage in heart attacks. It is one of the first biomarkers that rise above normal levels following cardiac necrosis associated with myocardial infarction.
• Various research studies suggest that measuring myoglobin levels as a diagnostic aid for ruling out myocardial infarction can better predict a potential heart attack after the onset of symptoms. 
• There is a growing demand for myoglobin reagents to accurately detect CVDs. These reagents are used to determine myoglobin levels in the blood and urine samples of patients. Thus, there is a greater emphasis on detection methods using myoglobin antibodies and reagents, which, in turn, are propelling the growth of the market.

Key Myoglobin Market Trend

• Demand for myoglobin instruments for emergency diagnostic patient management is one of the key myoglobin (Mb) market trends contributing to the market growth.
• Myoglobin is considered one of the first biomarkers of myocardial damage and is usually measured after the onset of myocardial infarction. 
• Myoglobin levels in cardiac muscles increase measurably above the baseline within two to four hours post-myocardial infarction. These levels peak at 9-12 hours and return to the baseline levels within 24-36 hours. 
• Various market vendors offer myoglobin instruments for emergency diagnostic patient management. For instance, bioMerieux SA. offers myoglobin assays for the accurate diagnosis of myocardial infarction. Such availability of myoglobin instruments that enable timely and accurate evaluation of patients suffering from myocardial infarction will augment the growth of the market during the forecast period.

Key Myoglobin Market Challenge

• The requirement of proper storage and handling conditions is one of the factors hindering the myoglobin market growth.
• The determination of myoglobin levels in animal and human serum can be performed by collecting serum specimens and conducting diagnostic tests with the aid of myoglobin test kits. However, there are high requirements for the proper storage and handling of myoglobin antibodies and serum specimens.
• Myoglobin antibodies need to be stored in proper conditions. For instance, myoglobin antibodies are stable for several weeks at 4 degrees C in an undiluted liquid form. However, for extended storage, the contents need to be aliquoted and frozen at -20 degrees C or below. 
• The professionals are required to demonstrate safe handling of clinical samples and select appropriate techniques such as ELISA, western blot, and IHC for performing the tests. It is particularly difficult for small-sized research laboratories and institutes to meet these storage requirements. This, in turn, will hinder the market growth during the forecast period.

This myoglobin 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 Mb market as a part of the global biotechnology 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 myoglobin market during the forecast period.

Who are the Major Myoglobin Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

• Abbott Laboratories
• BBI Solutions
• Bio Rad Laboratories Inc.
• bioMerieux SA
• Boditech Med Inc.
• Danaher Corp.
• DiaSys Diagnostic Systems GmbH
• F. Hoffmann La Roche Ltd.
• General Atomics
• HORIBA Ltd.
• Merck KGaA
• OriGene Technologies Inc.
• Ortho-Clinical Diagnostics Inc.
• PerkinElmer Inc.
• Randox Laboratories Ltd.
• Scripps Laboratories Inc.
• Siemens Healthineers AG
• Thermo Fisher Scientific Inc.
• Tosoh Corp.

 

This statistical study of the Mb market encompasses successful business strategies deployed by the key vendors. The myoglobin market is fragmented and the vendors are deploying growth strategies such as continuously innovating their offerings and building capabilities with less service differentiation to compete in the market.

Product Insights and News

• Abbott Laboratories - Under the medical devices segment, the company offers products for rhythm management, electrophysiology, heart failure, vascular, structural heart, and neuromodulation. 
• Abbott Laboratories - The company offers myoglobin regents which are designed to store and supply oxygen to muscle cells. 

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 myoglobin 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.

Myoglobin Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the myoglobin 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 Myoglobin Market?

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40% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for the myoglobin market in North America. Market growth in this region will be slower than the growth of the market in Asia.

The well-established biotechnology industry in the US and the growing investments in the research and development (R&D) of cardiac biomarkers will facilitate the myoglobin 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 had a negative impact on the market in North America. However, in H2 2021, due to the availability of COVID-19 vaccines, the number of COVID-19 cases in the region declined. Thus, the demand for myoglobin antibodies, proteins, and assays rebounded due to the ease of COVID-19-related restrictions and the restoration of access to hospitals and clinics. Thus, owing to these factors, the regional market is expected to witness moderate growth during the forecast period.

What are the Revenue-generating Type Segments in the Myoglobin Market?

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The myoglobin market share growth by the animal myoglobin segment will be significant during the forecast period. The growth of the animal myoglobin segment can be attributed to the increasing product offerings of market vendors. Various prominent market vendors, such as Abcam plc (Abcam) and Abbexa Ltd. (Abbexa), offer animal-origin myoglobin antibodies, proteins, and ELISA kits. For instance, Abcam offers rat myoglobin ELISA kits that are used for the quantitative measurement of myoglobin levels in rat serum and plasma. Thus, the availability of a range of animal myoglobin products will augment the growth of the global myoglobin market during the forecast period.

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

 

Myoglobin Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 4.1%
Market growth 2022-2026	$ 99.2 million
Market structure	Fragmented
YoY growth (%)	3.1
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 40%
Key consumer countries	US, Canada, Germany, UK, and China
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Abbott Laboratories, BBI Solutions, Bio Rad Laboratories Inc., bioMerieux SA, Boditech Med Inc., Danaher Corp., DiaSys Diagnostic Systems GmbH, F. Hoffmann La Roche Ltd., General Atomics, HORIBA Ltd., Merck KGaA, OriGene Technologies Inc., Ortho-Clinical Diagnostics Inc., PerkinElmer Inc., Randox Laboratories Ltd., Scripps Laboratories Inc., Siemens Healthineers AG, Thermo Fisher Scientific Inc., and Tosoh Corp.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Myoglobin Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive myoglobin market growth during the next five years
• Precise estimation of the myoglobin market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the myoglobin industry across North America, Europe, Asia, and Rest of 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 myoglobin market vendors

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