Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Myoglobin Market size was over USD 102.76 billion in 2024 and is poised to exceed USD 173.25 billion by 2037, witnessing over 4.1% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of myoglobin is evaluated at USD 106.34 billion.
The growth of the market is primarily attributed to the myoglobin utility as a highly accurate biomarker. For instance, it was observed in research that myoglobin outperforms other cardiac-specific biomarkers in COVID-19 diagnosis. Additionally, the increasing knowledge of myoglobin's effectiveness as a reliable indicator of left ventricular wall thickening which is also known as left ventricular hypertrophy (LVH), is driving the growth of the market in the forecast period. For instance, left ventricular hypertrophy (LVH) affects around 17% to 20% of the population. It is commonly found in blacks, the elderly, the obese, and hypertension patients.
Myoglobin is a tiny heme globular protein that primarily exists in the skeletal and cardiac muscles of mammals. It is an oxygen-binding molecule. The protein's primary job is to store and supply oxygen to muscles that are working hard when blood oxygen delivery is partially inadequate. When cells get damaged, these proteins get released into the blood. It is found in many diving mammals, i.e., whales and seals, and allows them to remain submerged for a longer period of time. As an oxygen binding blood cell proteins, myoglobin and hemoglobin have very similar chemical structure owing to the existence of a molecule called heme, which is primarily responsible for allowing oxygen binding with hemoglobin and myoglobin.
Global Myoglobin Sector: Growth Drivers and Challenges
Growth Drivers
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Rise in Myositis Condition – Myositis is a rare condition of weak and aching muscles. Such condition gets worse over the time. The rising occurrence of myositis is fueling the demand of myoglobin. For instance, in the United States, between 51,000 to 76,000 people have myositis.
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Growing Prevalence of Cardiovascular Diseases – Cardiovascular diseases are a group of diseases that affect your blood vessels and heart. A physical inactivity, unhealthy diet, excessive tobacco uses and harmful use of alcohol are the main risk factors associated with cardiovascular diseases. According to the data released by the World Health Organization (WHO), CVDs cause the deaths of around 17.9 million people each year.
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Increase in Acute Myocardial Infraction - Acute myocardial infarction occurs when the coronary blood flow decreases, which results in cardiac ischemia. For instance, with prevalence reaching around 3 million people worldwide and more than 1 million deaths in the United States each year, acute myocardial infarctions are one of the most prevalent causes of death in the developed regions.
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Escalating Numbers of Cardiac Surgeries – Cardiac surgeries are common to those people who have heart diseases or have had a heart attack, as well as those who are at high risk of having these problems. For instance, every year, approximately 510,000 open heart surgeries are performed worldwide.
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Growing Healthcare Expenditure – As per the data released by the World Bank, the worldwide healthcare expenditures in 2019 increased to 9.83%.
Challenges
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Lack of Skilled Professionals to Conduct Myoglobin Biomarker Tests
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Lack of Awareness Regarding Myoglobin
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Stringent Government Regulations About Clinical Trials
Myoglobin Market: Key Insights
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
4.1% |
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Base Year Market Size (2024) |
USD 102.76 billion |
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Forecast Year Market Size (2037) |
USD 173.25 billion |
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Regional Scope |
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Myoglobin Segmentation
The myoglobin market is segmented and analyzed for demand and supply by end-user into research institutes, hospitals, diagnostic labs, and others, out of which, the diagnostic labs segment is anticipated to significantly grow over the forecast period owing to the growing demand for better healthcare services, and presence of high-quality equipment to conduct tests. For instance, currently, there are approximately 24,825 medical and diagnostic laboratories in the United States.
Our in-depth analysis of the global myoglobin market includes the following segments:
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By Product Type |
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By End-User |
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Customize this ReportGlobal Myoglobin Industry - Regional Synopsis
Regionally, the global myoglobin market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. North America industry is predicted to account for largest revenue share by 2037, backed by rise in launching of myoglobin reagents testing kits, growing prevalence of cardiovascular diseases, and boosted investment in research and development of novel biomarkers in the region.
Companies Dominating the Myoglobin Landscape
- Abbott Diagnostics
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Alere Inc.
- Beckman Coulter
- Biomerieux SA
- Boditech Med
- Ortho-Clinical Diagnostics
- Randox Laboratories
- Roche Diagnostics Corp
- Siemens Healthcare Diagnostics
- Singulex Inc.
In the News
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Roche Diagnostics, The U.S. Food and Drug administration (FDA)has approved Evrysdi a product of Roche Diagnostics Corporation based on Rainbowfish data, which showed pre-symptomatic babies treated with Evrysdi for at least one year were able to sit, stand and walk.
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Siemens Healthineers, WakeMed Health & Hospitals and Siemens Healthineers have teamed up together in a 10-year, patient-focused, Value Partnership to innovate care delivery and improve patient outcomes through robotics initiatives, advanced imaging capabilities and artificial intelligence. It shall provide training to staff and health providers.
Author Credits: Radhika Pawar
- Report ID: 4269
- Published Date: Dec 26, 2024
- Report Format: PDF, PPT
