According to the current analysis of Reports and Data, the global Cardiac Safety Services Market valued at USD 384.9 million in 2018 and is expected to reach USD 895.7 million by the year 2026, at a CAGR of 11%. Cardiac safety is the primary cause of the Clinical trial delay and drug abandonment. Cardiac Safety services are beneficial for monitoring the abnormalities of the heart. There has been a significant rise in the RD expenditure in the pharmaceutical biopharmaceutical industry and increased RD activities. The increase in the number of clinical trials is fuelling the growth of the market. Additionally, the advances of the new technologies in the cardiac services market are offering growth opportunities for players in the market. However, the high expenditure cost of cardiac safety evaluation is hindering the growth of the market.
American college of cardiology has reported in the year 2019 that Cardiovascular disease (CVD) is the primary cause of death in the United States and is responsible for 840,768 deaths in 2016. From 2006 - 2016, the U.S. death rate from cardiovascular disorders have decreased by 18.6% and from coronary heart disease by 31.8%.
Top Companies operating in the market and profiled in the report include:
Banook Group (France Canada), Bioclinica (a subsidiary of Cinven, US), Certara L.P. (U.S.), Celerion, Inc. (U.S.), ERT, Inc. (U.S.), Laboratory Corporation of America Holdings (U.S.), Medpace Holdings, Inc. (U.S.), Ncardia AG (Belgium), Richmond Pharmacology (U.K.), PhysioStim (France), Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC (U.S.), SGS S.A. (Switzerland), BioTelemetry, Inc. (U.S.), IQVIA (U.S.), OMRON Healthcare, Inc (Japan), Biobeat (U.S.) and InBody USA (U.S.), Microsoft (U.S.) are the key players in the Cardiac Safety Services market
The pharmaceutical and healthcare industry has undergone tremendous change over the recent years, especially with the emergence of the COVID-19 pandemic. Increasing accessibility of advanced healthcare systems and low-cost technologies coupled with growing demand for over-the-counter medications has further changed the dynamics of the industry. Integration of robust technologies such as AI and blockchain have helped pharmaceutical companies reduce capital expenditure and strengthen the global supply chain. Increasing application of biosimilars, shifting focus to in-silico testing of pharmaceutical products, and rising number of product approvals from regulatory authorities are some key factors driving revenue growth of the market.
Increasing expenditure on RD, growing focus on implementing robust cybersecurity solutions to ensure better medical device connectivity, and development of advanced telehealth software by key companies operating in the field has further added traction to the revenue growth of the market. The global Cardiac Safety Services market report discusses the current market scenario with respect to the competitive landscape and offers key insights into the company profiles, product portfolio, production and manufacturing capacity, revenue contribution, and position in the global market. It also provides details on recent mergers acquisitions, joint ventures, collaboration, and product launches, among others.
Product and Services Outlook (Revenue in Million USD; 2017–2024)
- ECG/Holter Measurement
- Blood Pressure Measurement
- Cardiovascular Imaging
- Thorough Q.T. Studies
- Other Services
Applications Outlook (Revenue in Million USD; 2017–2024)
- Integrated Services
- Standalone Services
End Use Outlook (Revenue in Million USD; 2017–2024)
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations
The report provides a comprehensive analysis of the market scope, supply chains, distribution channels, trends and demands in each region, revenue generation, market size, and presence of prominent companies in each region. It studies the revenue growth of the market in each region and their key countries based on several factor such as macro- and micro-economic growth factors, regulatory framework and policies, investment and funding opportunities, RD and technological advancements, and growth prospects.
Key Regions Assessed in the Report:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Germany, Italy, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report further segments the global Cardiac Safety Services market on the basis of product types and applications and offers details about key factors that are expected to drive revenue growth of each segment and sub-segment.
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