About Heart Failure Testing
Over the past few decades, instances of heart failures and heart-related diseases have prevailed across the globe, thereby upsurging the need for heart failure control across the globe. This has ultimately upsurged the demand for heart failure testing through Blood tests, Chest X-ray, Electrocardiogram (ECG), Echocardiogram, Stress test, CT, MRI, Coronary Angiogram, and many others. The use of heart failure testing tools has a significant impact on limiting the higher occurrence of deaths due to heart failures. Moreover, increasing government initiatives and reimbursements on intensive R&Ds has further escalated the growth of the heart failure testing industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Heart Failure Testing market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Heart Failure Testing Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantageThe Players having a strong hold in the market are Abbott Laboratories, Response Biomedical, Roche Holding, Trinity Biotech, and Quidel. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Heart Failure Testing market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott Laboratories (United States), Response Biomedical Corporation (Canada), Roche Holding AG (Switzerland), Trinity Biotech (Ireland), Quidel Corporation (United States), Siemens AG (Germany), BioMérieux (France), General Electric Company (GE) (United States) and Koninklijke Philips N.V. (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Becton, Dickinson, and Company (United States), Bio-Rad Laboratories, Inc. (United States), PerkinElmer, Inc. (United States), Tosoh Corporation (Japan), Danaher Corporation (United States) and Thermo Fisher Scientific (United States).
Segmentation Overview
AMA Research has segmented the market of Global Heart Failure Testing market by Type (Blood tests, Chest X-ray, Electrocardiogram (ECG), Echocardiogram and Others (Stress test, CT, MRI, Coronary Angiogram)), Application (Myocardial Infarction, Congestive Heart Failure, Acute Coronary Syndrome, Atherosclerosis and Others) and Region.
On the basis of geography, the market of Heart Failure Testing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Method, the sub-segment i.e. Electrocardiogram Testing will boost the Heart Failure Testing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Heart Failure Testing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Affordability of Cardio Vascular Treatments and Increasing Disposable Incomes and Introduction to Highly Efficient Cardiac Biomarkers
Market Growth Drivers:
Growth of Research and Developments in Tackling Critical Heart Diseases and Rising Prevalence of Cardio-Vascular Diseases across the Globe
Challenges:
Operational Complexities and the Dearth of Skilled Researchers
Restraints:
Technological Hindrance with Respect to Collection and Storage of Samples and Stringent Government Regulations on Approval and Use of Medical Devices
Opportunities:
Increasing R&D Infrastructure in Healthcare across the Developing Nations and Rising Consumer Eagerness towards Healthcare Expenditure
Market Leaders and their expansionary development strategies
In January 2023, AstraZeneca has entered into a definitive agreement to acquire CinCor Pharma, Inc. (CinCor), a US-based clinical-stage biopharmaceutical company, focused on developing novel treatments for resistant and uncontrolled hypertension as well as chronic kidney disease.
In February 2023, Cardio Diagnostics Holdings announced the launch of PrecisionCHD, an integrated epigenetic-genetic blood test for the early detection of coronary heart disease.
Key Target Audience
New Entrants/Investors, Healthcare Industry Associations, Venture Capitalists and Private Equity Firms, Heart Testing Devices Manufacturers, Suppliers and Distributors, Raw Material Suppliers, End-Use Industries, Analysts and Strategic Business Planners, Government Regulatory and Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.