The global myoglobin market size was valued at USD 98.2 billion in 2021 and is poised to grow at a significant CAGR of 4.2% during the forecast period 2022-28. Myoglobin act as a biomarker which is released into the blood stream if the heart is under stress or if the cardiac muscle gets damaged. Therefore, myoglobin is used as a biomarker in cases of cardiac diseases. Due to the increase in awareness regarding cardiovascular diseases and the need of early diagnosis, increase in demand for myoglobin in laboratories across the globe are expected to propel the growth of the market. Additionally, the use of myoglobin in meat packaging process and strategic collaborations between the market players are expected to enhance the sales of the myoglobin market. However, the awareness regarding the uses of myoglobin is limited and it is expected to limit the growth of the market. Myoglobin market report gives comprehensive outlook on myoglobin across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report gives historical, current, and future market sizes (US$ Mn) on the basis of product type, end user, and region. This report studies market dynamics elaborately to identify the current trends drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, the report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed the market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global myoglobin products.
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Increase in the prevalence of cardiac diseases like myocardial ischemia, heart failure, myocardial infraction is a key factor drive the global artificial joints market. According to World Health Organization 2018, approximately 17.9 Mn people die every year from cardiovascular diseases all over the world, increasing awareness regarding the early diagnosis of these diseases, the raise in funding for the RD activities by public and private sectors, increasing applications of myoglobin in meat industry are anticipated to propel the global artificial joints market over the forecast years
The global myoglobin market segmentation:
1) by Product type: Human Myoglobin, Animal Myoglobin.
2) By End User: Hospitals, Research Institutes, and Others.
North America accounted for larger revenue share in global myoglobin market with significant CAGR owing to increasing number of research activities and advancements in technologies and the high number of patients suffering from cardiac diseases, presence of leading market players in the region are expected to increase the growth of the market over the forecasted years. Europe and Asia Pacific region are expected to grow at a significant growth rate over the forecast years owing to the increasing prevalence of cardiac problems, increasing diagnostic centers, increasing healthcare awareness and increasing business of meat export.
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Key players working in the myoglobin market, Randox Laboratories Ltd. (UK), BG Medicine, Inc. (USA), Response Biomedical Corp. (Canada), Abbott Diagnostics, Inc. (USA), Beckman Coulter, Inc. (USA), Labsystems Diagnostics OY (Finland), Boditech Med Inc. (South Korea), LifeSign LLC (USA), Roche Diagnostics Corp. (Switzerland), Singulex (USA), LSI Medience Corporation (Japan), Siemens Healthcare Diagnostics (Germany)
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