LOS ANGELES, Jan. 16, 2019 (GLOBE NEWSWIRE) -- In a new report authored by QY Research, the global troponin market is anticipated to rise at a robust CAGR of 8.3% during the forecast period 2018-2025. Bearing the title “Global Troponin Market Professional Survey Report 2018,” the report mentions US$ 1,050 Mn as the valuation attained by the market in 2017. In the same year, the global troponin sales touched nearly 225 Mn Units. By the end of 2025, the market is forecast to reach a valuation of US$ 1,990 Mn.
The Global Troponin Market has shown smooth growth in the past few years, which is quite encouraging for players.
Global Troponin Market: Drivers and Restraints
Rising demand for cardiac troponin due to the growing need for cardiac biomarkers to diagnose cardiovascular diseases is prognosticated to push the growth of the global troponin market. This demand is also predicted to increase on the back of other factors such as the swelling demand for point-of-care cardiac testing kits, development of cardiac biomarkers, and rising prevalence of acute coronary syndrome.
However, lack of precision required for collecting samples and limited reimbursements are foreseen to hamper the growth of the global troponin market. Nonetheless, vendors are envisaged to take advantage of rewarding prospects created with increasing awareness about cardiac troponin biomarkers and the advancement of multi-assay biomarkers.
Rising morbidity in Europe and the U.S. due to increasing cases of cardiovascular disease is raising high demand for quick diagnosis and accurate tests. This is foretold to augur well for the global troponin market.
Global Troponin Market: Forecast by Type and Application
On the basis of type, the global troponin market is classified into troponin T (TnT) and troponin I (TnI). In 2017, TnT collected a smaller sales share of the market, i.e. 19.4%. On the other hand, TnI secures a major sales share of 80.6% with its sales reaching 181 Mn Units.
By application, the global troponin market is segmented into acute coronary syndrome, myocardial infarction, and others. Among these, myocardial infarction is a leading application of troponin. In 2017, it collected a share of 67.5%.
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Global Troponin Market: Forecast by Region
Geographically, the global troponin market is categorized into the MEA, Central and South America, Southeast Asia, India, Japan, China, Europe, and North America.
In terms of sales, North America is the largest market for troponin. In 2017, it accounted for a share of 41.5%. China treaded upon the heels of North America in the same year as it secured a 19.7% share.
North America is also the largest supplier of troponin. It bagged a production share of close to 47.2% in 2017. In the same year, Europe took the second position as it accounted for a 36.2% share of the market.
Global Troponin Market: Key Players
The global troponin market marks the presence of top players such as Biomerieux, Beckman Coulter, Siemens Healthcare, Roche, and Abbott. In 2017, Siemens Healthcare, Roche, and Abbott collected an aggregate share of 57.2%. These companies use some of the most advanced technologies in the industry.
More companies are expected to enter the market as it expands in the near future.
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