Overview and Scope
Cardiac safety services refer to offering services related to monitoring heart safety by giving the required support and help in designing clinical trials and other research. Cardiac safety services typically help with planning clinical trials and other investigations necessary to maintain cardiac safety.
Sizing and Forecast
The cardiac safety services market size has grown rapidly in recent years. It will grow from $0.94 billion in 2023 to $1.05 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to drug development and clinical trials, regulatory compliance requirements, increased cardiovascular disorders, globalization of clinical trials, focus on personalized medicine.
The cardiac safety services market size is expected to see rapid growth in the next few years. It will grow to $1.55 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to remote patient monitoring, shift towards decentralized clinical trials, rise in orphan drug development, increasing outsourcing of clinical trials, regulatory emphasis on patient-centric approaches. Major trends in the forecast period include integration of wearable technologies, advancements in ecg technologies, decentralized clinical trials, data standardization and interoperability, telehealth and remote consultations, patient-centric approaches.
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Segmentation & Regional Insights
The cardiac safety services market covered in this report is segmented –
1) By Services: ECG Or Holter Measurements, Blood Pressure Measurements, In Vitro Cardiac Safety Assessment Services, Cardiovascular Imaging, Real-Time Telemetry Monitoring, Central Over-Read Of ECGS, Non-Invasive Cardiac Imaging, Physiologic Stress Testing, Thorough QT Studies, Other services
2) By Phase: Phase 1, Phase 2, Phase 3
3) By End User: Pharmaceutical And Biopharmaceutical Companies, Contract Research Organizations, Academic and Research Institute
North America was the largest region in the cardiac safety services market in 2023. The regions covered in the cardiac safety services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increase in the prevalence of cardiovascular diseases is expected to propel the growth of the cardiac safety services market going forward. Cardiovascular diseases refer to a group of disorders that affect the heart and blood vessels, such as peripheral arterial disease, cerebrovascular disease, coronary heart disease, and others. Cardiac safety services deal with heart health and safety monitoring, determining factors contributing to the cardiovascular disease before disease occurrence, thereby helping in taking preventative measures and reducing the chance of mortality. Therefore, the increase in the prevalence of cardiovascular diseases is driving the growth of the cardiac safety services market. For instance, in March 2023, according to the journal published by Oxford University Press, a UK-based university press of the University of Oxford, more than 200 million people were affected by peripheral artery diseases in 2020, and it was expected to increase by nearly 50% by 2045. Furthermore, in March 2022, according to the Office for National Statistics, a UK-based statistics authority that reports directly to the UK Parliament, the number of deaths due to a heart attack as an underlying cause increased from 19,440 in 2020 to 20,061 in 2021. The increase in the prevalence of cardiovascular diseases is driving the cardiac safety services market.
Key Industry Players
Major companies operating in the cardiac safety services market report are Laboratory Corporation of America Holdings, Banook Group Limited, Pharmaceutical Product Development LLC, Biotrial S.A., Certara Inc., Celerion Inc., Medpace Holdings Inc., Ncardia AG, Richmond Pharmacology Limited, PhysioStim, SGS Société Générale de Surveillance SA, Koninklijke Philips N.V., Clario, NEXEL Co. Ltd., Eurofins Scientific SE, InBody USA Inc., Spaulding Clinical Research LLC, OMRON Healthcare Inc., ERT Inc., IQVIA Holdings Inc., Bioclinica Inc., ICON plc, BioTelemetry Inc., Medidata Solutions Inc., SYNEXUS Clinical Research, PPD Inc., Parexel International Corporation, Chiltern International Limited, ACI Clinical Inc., Biomedical Systems, High Point Clinical Trials Center, Maastricht University Medical Centre+, CCBR-SYNARC, Cytel Inc., CardioSecur Ltd., Medicalgorithmics S.A., Advarra Inc.
The cardiac safety services market report table of contents includes:
1. Executive Summary
2. Cardiac Safety Services Market Characteristics
3. Cardiac Safety Services Market Trends And Strategies
4. Cardiac Safety Services Market – Macro Economic Scenario
5. Global Cardiac Safety Services Market Size and Growth
…
31. Global Cardiac Safety Services Market Competitive Benchmarking
32. Global Cardiac Safety Services Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Cardiac Safety Services Market
34.Cardiac Safety Services Market Future Outlook and Potential Analysis
35. Appendix
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