 |
| Myocardial Infarction Market |
The myocardial infarction diagnostics market involves diagnostic tools and technologies utilized for detecting myocardial infarction or heart attack. Myocardial infarction diagnostics assess cardiac damage by identifying changes in the heart muscles, blood vessels, and electrical activity. Cardiac troponin tests, electrocardiogram (ECG or EKG), echocardiogram, angiogram, cardiac MRI, radionuclide imaging are some of the important myocardial infarction diagnostic tests.
The global myocardial infarction diagnostics market is estimated to be valued
at US$ 2347.22 Bn in 2024 and is
expected to exhibit a CAGR of 22%
over the forecast period 2024 to 2031.
Increasing geriatric population,
rising prevalence of cardiovascular diseases, growing adoption of advanced Myocardial
Infarction Market Demand and technological advancements are the key
factors driving the growth of this market.
Key players operating in the myocardial infarction diagnostics are AT&T Inc., Verizon Communications Inc., NTT Communications Corporation, China Telecom Corporation Limited, Deutsche Telekom AG, British Telecommunications plc (BT), Orange S.A., Telefonica S.A., Sprint Corporation (now part of T-Mobile), CenturyLink (now rebranded as Lumen Technologies), Vodafone Group plc, SoftBank Group Corp., Level 3 Communications, Telstra Corporation Limited, Tata Communications Limited.
The growing demand for myocardial infarction diagnostics can be attributed to the increasing incidence of myocardial infarction owing to rising prevalence of risk factors such as obesity, hypertension, diabetes. According to World Health Organization cardiovascular diseases are the leading cause of deaths globally. It has been estimated that by 2030, over 23 million people will die from cardiovascular diseases each year.
The global myocardial infarction diagnostics market is witnessing significant expansion aided by increasing healthcare expenditures, upgrading of healthcare infrastructure and rising medical tourism in developing nations. Key players are actively engaging in new product launches, mergers and acquisitions to strengthen their geographical presence.
Market Key Trends
The key trends prevailing in the myocardial
diagnostics market Trends And Share includes growing usage of advanced
diagnostic tests such as high sensitivity cardiac troponin assays and MRI for
early detection of heart attacks. These novel diagnostic methods enable early
diagnosis and treatment of myocardial infarction leading to improved clinical
outcomes. In addition, integration of artificial intelligence and machine
learning technologies aids in precision diagnostics and predictive analysis of
cardiac complications post myocardial infarction.
Porter's Analysis
Threat of new entrants: High barriers to enter due to high capital requirements
for R&D and distribution network.
Bargaining power of buyers: There are many substitute treatments available so
buyers have higher bargaining power.
Bargaining power of suppliers: Pharmaceutical companies hold patents for drugs
so they possess higher bargaining power over suppliers of raw materials.
Threat of new substitutes: New alternative treatment options can emerge with
technological advancements.
Competitive rivalry: Intense competition exists between established players.
North America holds the largest share of the myocardial infarction market currently due to high awareness levels and developed healthcare infrastructure in the US and Canada. However, Asia Pacific region is expected to grow the fastest during the forecast period owing to rising geriatric population, growing disposable incomes and improving access to healthcare in China and India.
The myocardial infarction market is currently concentrated highest in North
America region in terms of value due to high awareness levels and advanced
healthcare infrastructure present in countries like US and Canada. However,
Asia Pacific region is expected to witness the fastest growth during forecast
period 2024-2031 attributed to factors like rising geriatric population,
growing disposable incomes and improving access to healthcare services
especially in large countries like China and India driving future demand in the
region.
Get
More Insights On, Myocardial
Infarction Market
About Author:
Money Singh is a seasoned content writer with over four years of experience in
the market research sector. Her expertise spans various industries, including
food and beverages, biotechnology, chemical and materials, defense and
aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
0 Comments