Myoglobin Market Trends

Growth Drivers

• 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.

• 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.

• 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.

• 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.

• Growing Healthcare Expenditure – As per the data released by the World Bank, the worldwide healthcare expenditures in 2019 increased to 9.83%.

Challenges

• Lack of Skilled Professionals to Conduct Myoglobin Biomarker Tests
• Lack of Awareness Regarding Myoglobin
• Stringent Government Regulations About Clinical Trials

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.