Global Cardiovascular Genomic Diagnostics Market: Overview
For long, cardiovascular diseases have been spearheading gene testing and this trend is estimated to go on in the near future. Disorders of heart can be passed to children from parents through their genes, i.e. the disease can be inherited. Growing prevalence of cardiovascular disease and the nature of it is likely to play an important role in the expansion of the global cardiovascular genomic diagnostics market over the timeframe of analysis, from 2020 to 2030. This type of testing assists in the detection of various diseases, such as congenital heart diseases and aortopathy. Genetic disorders adversely influence the development of blood vessels, thereby leading to congenital heart diseases. This type of testing is useful in detecting the chances of family members contacting heart problems. The technology is utilized for the purpose of a cardiology genomic testing known as Next generation Sequencing (NGS). In addition to that, this technology is able to read genetic content that assists in detecting the changes in the sequence of DNA. Pathogens are considered responsible for mutations that are linked with the conditions of heart.
Test type, disease indication, technological platform, end user, and region are the five parameters that have been used for the classification of the global cardiovascular genomic diagnostics market.
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Global Cardiovascular Genomic Diagnostics Market: Notable Developments
The global cardiovascular genomic diagnostics market is considered moderately fragmented. The players in the market are taking up advanced techniques for the purpose of development of cardiovascular genomic diagnostics. This will further assist in diversifying the product offerings and strengthening geographical presence across the globe. One of the important and relevant developments pertaining to this market is mentioned as below
- In November 2019, renowned American supplier of consumables, reagents, and scientific instrumentation, Thermo Fisher Scientific made announcement about the introduction of its Ion Torrent System. This system is a next-generation sequencing platform that comes with an automated specimen-to-report workflow delivering economic results within a day. This newly introduced product is expected to further the cause of use of genomic sequencing in cardiovascular diseases.
Some of the prominent organizations in the global cardiovascular genomic diagnostics market comprise the below-mentioned:
- Oasis Diagnostics Corporation
- Thermo Fisher Scientific
- Helix OpCo LLC
- Gnome Diagnostics, LLC
- Color Genomics, Inc.
- Admera Health, LLC
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Global Cardiovascular Genomic Diagnostics Market: Key Trends
The global cardiovascular genomic diagnostics market is characterized by the presence of the following restraints, drivers, and opportunities.
Increased Prevalence of Heart Diseases is Estimated to Shoot Up Demand for these Diagnostics
A rise in the prevalence of different types of heart diseases, such as congenital heart disease, atherosclerosis, and cardiac arrhythmias is likely to bolster growth of the global cardiovascular genomic diagnostics market over the timeframe of analysis, from 2020 to 2030. In accordance to the findings of the Centers for Disease Control and Prevention (CDC), in 2017 nearly 365,914 people are killed by the coronary heart disease and it is one of the leading causes of death worldwide. It is also estimated that around one in every 200 individuals inherit heart diseases from their family members. Such high prevalence of heart diseases is anticipated to encourage growth of the global cardiovascular genomic diagnostics market in the years to come.
In addition, increased prevalence of unhealthy lifestyle and eating practices is estimated to drive the increased prevalence of cardiovascular diseases. Cardiovascular genomic diagnostics assist in the management, prognosis, and diagnosis of heart-related illnesses, which is likely to drive the demand for this diagnostic in the years to come.
Global Cardiovascular Genomic Diagnostics Market: Geographical Analysis
In the global cardiovascular genomic diagnostics market, North America is estimated to emerge as one of the leading regions. Such growth of the North America market is ascribed to the technological progress made in the sector. Along with that, strict regulations pertaining to safety and patient care in the region is expected to foster growth of the market in North America.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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