Cardiac Safety Services Market Overview:
The Cardiac Safety Services Market is projected to reach USD 752 million by 2024 from USD 442 million in 2019, at a CAGR of 11.2%. Market growth is largely driven by factors such as the growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, increased outsourcing of R&D activities, and the increasing number of clinical trials.
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The integrated services segment to dominate the cardiac safety services market in 2018.
Based on type, the market is categorized into integrated and standalone services. The integrated services segment accounted for the largest market share in 2018. This is primarily attributed to the benefits of bundled services to oversee end-to-end developments, as compared to the specificity of standalone services
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Market Segmentation:
By type, the integrated services segment accounted for the largest market share in 2018.
Based on type, the cardiac safety services market is categorized into integrated and standalone services. The integrated services segment accounted for the largest market share in 2018. The large share of this segment can be attributed to the benefits of bundled services to oversee end-to-end developments, as compared to the specificity of standalone services.
By end-user, the pharmaceutical & biopharmaceutical companies segment accounted for the largest market share in 2018.
Based on end-user, the cardiac safety services market is segmented into pharmaceutical & biopharmaceutical companies and contract research organizations (CROs). The pharmaceutical & biopharmaceutical companies segment accounted for the largest market share in 2018. The large share of this segment can be attributed to factors such as the stringent regulations for drug safety and increasing R&D activities to develop new drugs.
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Key Players:
The prominent players operating in this market include Biotrial (France), Banook Group (France & Canada), Bioclinica (a subsidiary of Cinven, US), Certara L.P. (US), Celerion, Inc. (US), ERT, Inc. (US), Laboratory Corporation of America Holdings (US), Medpace Holdings, Inc. (US), Ncardia AG (Belgium), Richmond Pharmacology (UK), PhysioStim (France), Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC (US), SGS S.A. (Switzerland), BioTelemetry, Inc. (US), and IQVIA (US).
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