Heart Attack Diagnostics Market size is poised to reach USD 28 Billion by the end of 2033, growing at a CAGR of 8% during the forecast period, i.e., 2023-2033. In the year 2022, the industry size of heart attack diagnostics was around USD 12 Billion.The growth of the market can primarily be ascribed to the rising number of people suffering from heart attacks globally, owing to unhealthy lifestyles, consumption of fatty food items, and illnesses. According to the Centers for Disease Control and Prevention in the United States, about 805,000 people have a heart attack each year. There are 605,000 first-time heart attacks among these. In 200,000 cases, people who have already suffered a heart attack are affected.
Global heart attack diagnostics market trends such as, the rising disposable income of the population along with rising healthcare expenditure and rapid awareness about health and fitness is expected to boost up the global market in the forecast period. Centers for Medicare & Medicaid Services stated that U.S. health care spending grew 9.7 percent in 2020, reaching USD 4.1 trillion or USD 12,530 per person. Moreover, pre heart attack symptoms should be known by everyone to avoid these unpleasant instances since even a mild heart attack can cause severe medical conditions. Mild heart attack symptoms include tightness & squeezing in the chest, fatigue, heartburn, nausea, dizziness, and others.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2033 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 12.0 Billion |
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Forecast Year Market Size (2033) |
~ USD 28.0 Billion |
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Regional Scope |
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End-user (Hospitals & Clinics, Diagnostic Center, Ambulatory & Surgical Centers)
The global heart attack diagnostics market is segmented and analyzed for demand and supply by end-user into hospitals & clinics, diagnostic center, and ambulatory & surgical centers. Out of which, the hospitals & clinics segment is projected to witness noteworthy growth over the forecast period. The growth of the segment can be accounted to the high number of surgical procedures performed in hospital settings, and the high number of hospitals present in the world. It was observed that more than 850,000 cardiac surgeries are performed each year in the United States. Moreover, the rising number of heart patient admissions in hospitals along with the increasing pharma sector is anticipated to augment segment growth over the forecast period.
Test (Electrocardiography, Blood Tests, Computerized Cardiac Tomography, Echocardiography, Coronary Angiography)
Furthermore, the global heart attack diagnostics market is segmented and analyzed for demand and supply by test into electrocardiography, blood tests, computerized cardiac tomography, echocardiography, coronary angiography, and others. Out of which, the electrocardiography (ECG) segment is projected to witness noteworthy growth over the forecast period. The growth of the segment is boosted by the fact that it is the first and mandatory test that is performed to diagnose heart attack when the patients get admitted to the hospitals. Based on the data provided by the World Health Organization (WHO), it was stated that in 2019, around 17.9 million people across the globe lost their lives owing to cardiovascular diseases (CVDs), out of which, 85% were caused by a heart attack. Hence, such a higher prevalence of heart attacks is estimated to hike the number of echocardiography test performed in the hospitals over the forecast period. Furthermore, there has been advancement in the ECG devices for diagnosing heart attack, and it is expected to drive the growth of the segment in the heart attack diagnostics market.
Our in-depth analysis of the global heart attack diagnostics market includes the following segments:
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By Type |
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By Test |
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By End User |
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The North America heart attack diagnostics market is projected to hold the largest market share by the end of 2033. The growth of market can be ascribed to the rising incidence of cardiac diseases along with huge spending on healthcare infrastructure by the regional government and other organization that are helpful to facilitate diagnostic equipment at healthcare facilities. According to the Centers for Medicare & Medicaid Services, United States healthcare expenditures reached USD 4.1 trillion in 2020, representing 19.7% of GDP. Furthermore, healthcare spending in the United States is expected to reach USD 6.2 trillion by 2028, an annual growth rate of 5.4%. Moreover, along with the technologically advanced healthcare infrastructure, the surging awareness among people for the right amount of dose of hypertension drugs, followed by the high number of people suffering from hypertension and the presence of major market players in the region are expected to drive the global heart attack diagnostics market in North America during the forecast period. Moreover, people are suffering from these diseases and disorders at a higher rate in the region since Americans consume more calories than they burn. For instance, nearly 60% of the Americans suffer from obesity in the United States which is one of the significant reasons to escalate the number of heart attack. It is estimated that every year, more than 800,000 people encounter heart attack in the USA. All these factors are, therefore, anticipated to expand the heart attack diagnostics market size in the region throughout the forecast period.
General Electric Company, a global leader in medical technology, diagnostics and digital solutions, has launched the first AI-enabled Cath lab made in India - Optima IGS 320, enabling cardiac care in India. The lab is located at the new factory of Wipro GE Healthcare in Bengaluru. The managing director of the company further suggested that AI has the requisite potential to enhance the care pathway.
Abbott Laboratories to received CE marking for its first troponin test that may be able to allow prediction of heart attacks months in advance in apparently healthy adults. It can help the physicians to determine necessary medical steps to prevent heart diseases.
Author Credits: Radhika Pawar
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