Precision cardiology Market is expected to grow at a CAGR of 12.9% through 2031
Increasing prevalence of cardiovascular diseases along with the launch of optimized treatment solutions to meet the diverse treatment needs of CVD patients is driving the growth of the global precision cardiology market.
According
to TechSci report on, “Precision
cardiology Market - Global Industry Size, Share, Trends, Opportunity,
and Forecast, 2023-2027”, The Global Precision Cardiology Market will grow from USD 19.88 Billion in 2025 to USD 39.64 Billion by 2031 at a 12.19% CAGR, owing to the rising number of several cardiovascular diseases (CVD) such as heart
attacks, coronary artery disease, heart stroke, congenital heart disease, etc.
In addition, the rising adoption of sedentary lifestyle, lack of physical activities,
high consumption of alcohol, increased intake of food high in sodium, sugar and
fats are also adding to the increasing rates of CVDs across the globe.
According to a report by the World Health Organization, cardiovascular diseases
are the leading cause of death across the globe. In 2019, approx. 17.9 million
people died from CVDs, which accounts for 32% of the overall global deaths. Out of these, nearly 85% of CVD-related deaths were either due to a heart attack or a stroke. As a result, demand for tailored treatment solutions to prevent and treat CVD is surging, thereby positively impacting the global
precision cardiology market. Moreover, growing awareness of the benefits of precision cardiology has led to increased adoption among healthcare providers. Furthermore, biotechnology companies are investing in
the development of precision cardiology tests based on sequencing technologies.
This is expected to support physicians in providing precision care in cardiology. Market players are also actively launching new products to address the diverse treatment needs of cardiovascular diseases, which is expected to drive market growth in the coming years further.
Browse over XX market data Figures spread through 110
Pages and an in-depth TOC on "GLOBAL PRECISION CARDIOLOGY MARKET"
The
global precision cardiology market is segmented by offering, sample type, technology, application, end users, competitive landscape, and region. Based on offering, the market is bifurcated into
products and services. The product segment is projected to hold a prominent
market share in the global precision cardiology market in the coming years as
they are used widely utilized in performing many cardiology tests or treatments
and surgeries.
Based
on sample type, the market is divided into between blood and non-blood. Among
these, the blood segment is anticipated to hold a significant market share over
the forecast period. This is primarily because blood test includes a series of
assessments and helps the healthcare professional in diagnosing different types
of blood levels, exclude the risk of heart attacks, and check if the patient has
any infection or anaemia. The most common blood tests used to assess cardiovascular and cardiac conditions include cardiac enzyme tests and a full blood count (FBC). As a result, the blood sample segment is projected to be more significant than the non-blood sample segment in the global precision cardiology market over the forecast period.
By technology, the market is classified into sequencing, polymerase chain reaction, microarrays, and other technologies. Among these, the sequencing
segment is projected to hold a considerable market share in the coming years. Compared with other alternatives, sequencing technology can detect a higher percentage of differentially expressed genes, particularly those with
low expression. Moreover, unlike microarray, sequencing does not require
species. It can detect novel transcripts, gene fusions, and other previously
unknown changes that microarrays cannot. As a result, sequencing technology is
highly preferred by cardiologists.
On
the basis of end user, the global market is segmented hospitals & clinics,
academic & research institutions, and others. Among these, the academic & research
institutions are anticipated to hold a prominent market share in the coming
years. This is primarily because precision cardiology remains in the research and development phase. Several institutes and physicians are increasingly
incorporating various technologies to deliver a best-in-class, tailored approach to address the distinctive and critical treatment needs of
cardiovascular diseases. As a result, precision cardiology is conducted more in
academic and research institutes than hospitals & clinics.
A list of major
market players of the global precision cardiology market includes:
- Abbott Laboratories
- Boston Scientific Corporation
- Medtronic Plc
- GE HealthCare Technologies Inc.
- Edwards Lifesciences Corporation
- Illumina, Inc.
- Thermo Fisher Scientific Inc.
- Bayer AG
- Quest Diagnostics Incorporated
- PerkinElmer Genomics
DOWNLOAD FREE SAMPLE REPORT
Customers can also
request for 10% free customization on this report.
“North America
is projected to hold a significant share of the global precision cardiology
market during the forecast period. This is primarily due to the presence of
leading market players such as PerkinElmer Inc, Quest Diagnostics, and
Laboratory Corporation of America Holdings, coupled with the increasing
adoption of high-fidelity precision cardiology tests to diagnose CVDs. Moreover, rising federal investments in the development of precision cardiology tests are supporting market growth in the region.
Besides, the Asia-Pacific is anticipated to be the fastest growing region
during the forecast period. This is mainly attributed to the rising incidences of cardiovascular diseases, rising healthcare awareness, and the emerging economy, resulting in a higher focus on research and development of advanced cardiology tests,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Precision Cardiology Market – Global Industry Size, Share, Trends, Opportunity and Forecast, Segmented By Offering (Products v/s Service), By Sample Type (Blood v/s Non-Blood), By Technology (Sequencing, Polymerase Chain Reaction, Microarray, Others), By Application (Cardiomyopathy, Arrhythmia, Aortopathy and Vascular Diseases, Others), By End User (Hospitals & Clinics, Academic & Research Institutions, Others) and Region 2021-2031F” has evaluated the future growth potential of global precision
cardiology market and provides statistics & information on market size,
structure and future market growth. The report aims to provide cutting-edge market intelligence and help decision-makers make sound investment decisions. The report also identifies and analyzes emerging trends, essential drivers, challenges, and opportunities in the global precision cardiology
market.
Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com