Myoglobin Market size was over USD 98.71 billion in 2023 and is projected to exceed USD 166.43 billion by 2036, growing at over 4.1% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of myoglobin is evaluated at USD 101.95 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.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
4.1% |
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Base Year Market Size (2023) |
USD 98.71 billion |
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Forecast Year Market Size (2036) |
USD 166.43 billion |
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Regional Scope |
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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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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 expected to dominate majority revenue share by 2036, 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.
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.
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
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