Myocardial infarction, commonly known as heart attack, is caused due to disruption of blood supply to the heart, causing damage to the heart muscle. Myocardial infarction diagnostics include various tests to accurately diagnose the condition, which helps determine appropriate treatment. Some of the major diagnostic tests include electrocardiography (ECG), cardiac biomarker tests, cardiac imaging tests such as stress test, echocardiogram, cardiac magnetic resonance imaging (MRI), and coronary angiography. ECG is the most widely used test for initial evaluation of patients reporting symptoms of heart attack.
The global myocardial infarction market is estimated to be valued at US$ 1,816.8 Mn in 2021, and is expected to exhibit a CAGR of 5.9 % over the forecast period (2021-2028).
Key Takeaways
Key players operating in the Myocardial Infarction Market are Bristol-Myers Squibb Co., Bayer AG, Johnson & Johnson Services Inc., Sanofi S.A., Novartis International AG, AstraZeneca plc., Daiichi Sankyo Co Ltd, Boehringer Ingelheim International GmbH, copyright Inc., and Merck KGaA. These players dominate the market with their diverse product portfolios for myocardial infarction diagnostics that comprises instruments, reagents, and kits for testing markers such as Troponin and CK-MB.
Increasing incidence of cardiac ailments such as myocardial infarction globally is driving the demand for accurate diagnostics tests. As per World Health Organization (WHO) data, cardiovascular diseases accounted for over 17 million deaths in 2015, representing 31% of all global deaths.
Technological advancements are expanding diagnostics capabilities. Nanoparticle-based biosensors and microfluidics platforms are enhancing sensitivity and shortening turnaround time of various cardiac biomarker tests. Computer-aided diagnosis (CAD) tools are improving the performance of imaging modalities for more precise detection of blockages. Myocardial Infarction Market Demand is being driven by these innovations, as they enable quicker, more accurate diagnoses and treatments, meeting the growing needs of the global population.
Market Trends
Integration of AI and ML: Major players are focusing on developing AI and ML-powered algorithms and systems for acquisition and analysis of imaging and biomarker big data to identify patterns and enable early detection of myocardial infarction.
Point-of-care testing: Portable and handheld diagnostic devices are gaining popularity for testing cardiac biomarkers at hospitals as well as at home due to benefits such as rapid results and convenience.
Market Opportunities
Emerging economies in Asia Pacific and Latin America: Growing healthcare expenditure on diagnosis and rising awareness about cardiovascular health in developing countries will drive the demand.
Companion diagnostics: Development of personalized diagnosis and tailored treatment approaches through combination diagnostics may present an opportunity.
Impact of COVID-19 on Myocardial Infarction Market Growth
The COVID-19 pandemic has significantly impacted the myocardial infarction market. During the initial lockdown phases, there was a significant decline in patient visits to hospitals due to fears of contracting the virus. This led to fewer diagnoses of myocardial infarction cases. However, as COVID-19 causes increased risks of cardiac issues, there was also a rise in severity of myocardial infarction cases post-COVID infections in many patients.
With the spread of the pandemic, healthcare facilities were overwhelmed treating COVID-19 patients. As a result, resources for cardiac care got diverted. elective cardiac treatments and surgeries saw major delays. This impacted the demand for medications and devices meant for myocardial infarction. With relaxation of lockdowns, the market is now witnessing a revival. However, supply chain disruptions caused by the pandemic continue to pose challenges. Telecardiology has become an important tool for virtual care and remote patient monitoring.
The United States accounts for the major share of the global myocardial infarction market in terms of value. This is attributed to the high incidence of cardiovascular diseases, growing geriatric population, widespread health insurance, and availability of advanced treatments in the country. However, the pandemic affected the US more severely in the initial stages. This impacted market growth.
The Asia Pacific region is expected to witness the fastest growth during the forecast period in the postoperative myocardial infarction market. This is due to the improving healthcare infrastructure, rising medical tourism, and growing funding from government and private bodies in emerging countries like China and India. However, the region faced the biggest economic & health impacts of the pandemic initially. But with successful containment in many APAC nations, the market is poised to make a strong comeback led by China & India.
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Resource
The Role of Diagnostics in the Myocardial Infarction Market: Advances and Technologies
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Innovative Treatments and Therapies in the Myocardial Infarction Market
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