LFA-Based Cardiac Marker Market Size, Share, Growth, and Industry Analysis, By Type (Troponin, CK-MB, Myoglobin and Others), By Application (Laboratory Testing and Point-of-care Testing), Regional Insights, and Forecast To 2031

Updated On: 22 April 2024

LFA-Based Cardiac Marker Market Report Overview

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The global LFA-based cardiac marker market size was USD 3595.4 million in 2021 and is projected to touch USD 7627.2 million by 2031, at CAGR of 7.7% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the LFA-based cardiac marker market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Lateral flow immunoassay (LFA)-based cardiac markers are a type of diagnostic test that uses antibodies to detect cardiac markers in the blood. Cardiac markers are proteins or enzymes that are released into the bloodstream when the heart muscle is damaged.

These tests are a rapid and easy way to diagnose heart conditions. They can be performed at the point of care, which means that patients can get their results quickly without having to travel to a laboratory. The results off such a test can help healthcare providers to diagnose heart conditions and to make treatment decisions. For example, if a patient has a positive result for troponin I, it is likely that they have had a heart attack.

COVID-19 Impact: Pandemic Increased the Market Demand

The COVID-19 pandemic has had a significant impact on the LFA-based cardiac marker market share. The pandemic has led to an increased demand for rapid and accurate diagnostic tests for cardiac markers, as these tests can be used to identify patients who are at risk of developing serious complications from COVID-19. In particular, these tests can be used to detect troponin, a protein that is released into the bloodstream when the heart muscle is damaged. Troponin levels can be used to diagnose myocardial infarction (heart attack), and they can also be used to monitor patients who are at risk of developing heart problems due to COVID-19. As a result of the increased demand for rapid and accurate diagnostic tests for cardiac markers, the market is expected to grow at a faster pace than it would have otherwise. In addition, the pandemic has also led to the development of new LFA-based cardiac marker tests that are specifically designed to detect COVID-19.

Latest Trends

"The increasing use of multiplex LFA-based cardiac marker tests is expected to fuel the growth in the market"

Multiplex LFA-based cardiac marker tests are becoming increasingly popular because they allow healthcare providers to simultaneously detect multiple cardiac markers in a single sample. This can be beneficial for several reasons. First, it can help to speed up the diagnosis of cardiac conditions. By detecting multiple markers, healthcare providers can get a more complete picture of the patient's condition and make a diagnosis more quickly. Second, multiplex These tests can help to improve the accuracy of diagnosis. By detecting multiple markers, healthcare providers can reduce the risk of false positives and false negatives. Third, multiplex These tests can help to reduce the cost of testing. By detecting multiple markers in a single sample, healthcare providers can save money on laboratory costs. There are a number of different multiplex tests available on the market.

LFA-Based Cardiac Marker Market Segmentation

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• By Type Analysis

According to type, the market can be segmented Troponin, CK-MB, myoglobin and others.

• By Application Analysis

Based on application, the market can be divided into laboratory testing and point-of-care testing.

Driving Factors

"Increasing prevalence of cardiovascular diseases to foster the market growth"

Cardiovascular diseases (CVDs) are the leading cause of death worldwide. According to the World Health Organization (WHO), CVDs accounted for 17.9 million deaths in 2020. The most common CVDs are heart attack, stroke, and heart failure. The increasing prevalence of CVDs is driving the demand for LFA-based cardiac marker tests. These tests are used to diagnose and manage CVDs. They can help to identify patients who are at risk of having a heart attack or stroke, and they can also be used to monitor patients who have already had a heart attack or stroke.

"Growing demand for point-of-care testing to result in the expansion of the market"

Point-of-care testing (POCT) is the testing of patients at the point of care, such as in a doctor's office or in a hospital emergency department. POCT is becoming increasingly popular because it allows patients to get their results more quickly and without having to travel to a laboratory. LFA-based cardiac marker tests are well-suited for POCT because they are relatively easy to use and can be performed quickly. This makes them a valuable tool for healthcare providers who need to diagnose and manage CVDs quickly.

Restraining Factors

"Lack of reimbursement to hamper the market growth"

In some countries, LFA-based cardiac marker tests are not reimbursed by insurance companies. This means that patients have to pay out of pocket for the tests, which can be a financial burden. The lack of reimbursement is a restraining factor for the market. This is because it can make the tests less affordable for patients, and it can also deter some healthcare providers from ordering the tests.

LFA-Based Cardiac Marker Market Regional Insights

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"North America to lead the market owing to the increasing demand for point-of-care testing. "

The North America region has shown the highest LFA-based cardiac marker market growth. The growth of the market in North America is driven by the high prevalence of cardiovascular diseases, the increasing demand for point-of-care testing, and the increasing adoption of Such tests.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market.  "

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• Thermo Fisher Scientific: Waltham, Massachusetts, USA
• Bio-Rad Laboratories: Hercules, California, USA
• Becton, Dickinson: Franklin Lakes, New Jersey, USA
• Roche: Basel, Switzerland
• Hologic: Marlborough, Massachusetts, USA
• Abbott: Abbott Park, Illinois, USA
• Siemens Healthineers: Erlangen, Germany
• Danaher: Washington, D.C., USA
• Alere: Waltham, Massachusetts, USA
• BioMérieux: Marcy l'Etoile, France
• LSI: Newark, California, USA
• Clinical Diagnostics: Wrexham, United Kingdom
• Randox laboratories: Crumlin, United Kingdom
• Wondfo Biotech: Shenzhen, China

Report Coverage

This report examines an understanding of the LFA-based cardiac marker market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.