In a recently published report, Creatine Kinase Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Creatine Kinase Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Creatine kinase (also referred as phosphocreatine kinase or creatine phosphokinase), is a protein enzyme, which is recognized through different types tissues and cell. Creatine kinase catalyzes the transformation of creatine and uses adenosine triphosphate (ATP) to produce phosphocreatine (PCr) and adenosine diphosphate (ADP). Creatine kinase enzyme reaction is revocable, and thus, ATP can be produced from ADP and PCr. It is usually found in skeletal muscles and heart and in smaller amounts in the brain. It works with bones to move and give strength and power to the individual’s body. Growing patient population suffering from myocardial infarction, favorable reimbursement scenario and increasing healthcare expenditure & funding are the few factors responsible for high CAGR of the market over the forecast period. For instance, according to the Centers for Medicare & Medicaid Services (CMS), the national health expenditure was estimated around 4.8% in 2019, an increase from 4.4% growth in 2018, and to reach almost USD 3.8 trillion. Also, as per Statista, the public health expenditure in India was about 1.58 trillion Indian rupees in 2018.
This factor would boost the demand for Creatine Kinase in the global market thereby, aiding to the market growth in the forthcoming years. Furthermore, rapid launch of novel creatine kinase reagents to enhance the creatine kinase testing is further contemplating the market growth around the world. With the disruption in product supply chain because of COVID-19 crisis, several leading suppliers are under lockdown to prevent the spread of novel coronavirus therefore, the industry is recently faced several significant challenges with concerns to ramping up the manufacturing facilities to reduce the risk of supply shortage. Thus, this factor is expected to create a major obstacle to market growth in the recent year. However, un favorable regulatory guideline for product approval in some of the developed and developing nations is always being considered as one of the major restraining factors to the market growth during the forecast period of 2020-2027.
The regional analysis of global Creatine Kinase market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the presence of strong and advanced healthcare facilities, coupled with increasing product launch of new creatine kinase reagents testing kits in the region. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027, due to growing healthcare expenditure in the countries such as China and India.
Major market player included in this report are:
Beckman Coulter Inc.
F. Hoffmann-La Roche AG
Siemens Healthcare AG
LSI Medicine Corp.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
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Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017, 2018
Base year – 2019
Forecast period – 2020 to 2026
Target Audience of the Global Creatine Kinase Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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