Cardiac Safety Services Market by Type (Standalone, Integrated), Services (ECG/Holter Measurement, Blood Pressure Measurement, Cardiac Imaging, Thorough QT Studies), End User (Pharmaceutical & Biopharma, CROs), Region - Global Forecast to 2028", is projected to reach USD 1,282 million by 2028 from USD 739 million in 2023, at a CAGR of 11.6% during the forecast period of 2023 to 2028. The growth of this market is driven by rising incidence of cardiovascular diseases, large number of cardiac issue related clinical trials. Additionally, the increasing outsourcing of cardiac safety services leading to expanded adoption of cardiac safety services.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=174488627

Browse in-depth TOC on "Cardiac Safety Services Market”

149 – Tables

43 – Figures

205 – Pages

Key Market Players
Key players in the cardiac safety services market include Laboratory Corporation of America Holdings (US), Koninklijke Philips N.V. (Netherlands), Clario (US), Banook Group (France), IQVIA (US), Biotrial (France), Certara (US), Celerion (US), Medpace (US), Ncardia (Netherlands), Richmond Pharmacology (UK), PhysioStim (France), Shanghai Medical (China), Pharmaceutical Product Development, Inc. (US), and SGS S.A. (Switzerland).

DRIVER: Rising incidence of cardiovascular diseases

The increasing incidence of cardiovascular diseases directly amplifies the demand for cardiac safety services by pharmaceutical companies and Contract Research Organizations (CROs) in various ways. For instance, According to the World Health Organization (WHO), cardiovascular diseases (CVDs) are the leading cause of death globally, taking an estimated 17.9 million lives annually. & Similarly, according to AstraZeneca report (UK) around 523 million people live with CVD globally. Moreover, according to the Centers for Disease Control and Prevention (CDC), heart disease is the leading cause of death for men, women, and people of most racial & ethnic groups in the US, about 695,000 people in the US died from heart disease in 2021 that’s one in every five deaths. Therefore, the rising incidence of cardiovascular diseases ensures the critical role of cardiac safety services in ensuring patient safety, regulatory compliance, and the success of cardiovascular drug development initiatives.

OPPORTUNITY: Emergence of new methods to curb cardiotoxicity

The evolution of mechanistic preclinical strategies for the detection of drug-induced electrophysiological and structural cardiotoxicity, mainly using in vitro human ion channel assays, human-based in silico reconstructions, and human stem cell-derived cardiomyocytes. New methods such as digital twin technology, non-invasive electrocardiographic imaging (ECGI), high-throughput screening assays are gaining popularity in the market, and it presents a paradigm shift from traditional approaches that rely on simplistic in vitro assays. These new strategies can improve sensitivity and specificity in the early detection of genuine cardiotoxicity risks, thereby reducing the likelihood of mistakenly discarding viable drug candidates and expediting the progression of worthy drugs to the clinical trial stage. The introduction of these new methods, given their high efficiency and their growing usage, will provide significant opportunities for cardiac safety services to expand in the coming years. Furthermore, these methods encompass advancements in drug formulations, delivery systems, and targeted therapies, as well as more sensitive biomarkers and in vitro models for early cardiotoxicity detection. For cardiac safety services providers, these new methods represent a vital role in offering specialized guidance to pharmaceutical companies and researchers by facilitating comprehensive cardiac safety assessments, including monitoring during clinical trials, data analysis, and adherence to regulatory standards.

Request Sample Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=174488627

The integrated services segment accounted for the largest share, by type in the cardiac safety services market in 2022.

By type, the cardiac safety services market has been further categorized as integrated services and standalone services. The integrated services segment held the largest share of the global cardiac safety services market in 2022. This can be attributed to benefits associated with integrated services. Integrated services offer benefits such as comprehensive data integration and improved data quality. Additionally, these services help enhance and expedite clinical trials in the pharmaceutical and biopharmaceutical development cycle. These advantages make integrated services as preferable option against standalone cardiac safety services.

The ECG/ Holter measurement services segment accounted for the largest share of the service type segment in the cardiac safety services market in 2022.

Based on service type, the global cardiac safety services market has been segmented into ECG/Holter measurement services, blood pressure measurement services, cardiovascular imaging services, thorough QT studies, and other cardiac safety services. The ECG/ Holter measurement services segment held the largest market share in 2022. The large share of this segment can be attributed to the low cost of ECG/Holter services and rigorous regulations for drug safety, increasing research & development activities to develop effective and innovative drugs.

The North America region catered the largest share of the cardiac safety services market in 2022.

The cardiac safety services market in North America has experienced significant growth in recent years, showcasing a robust expansion trajectory, owing to large pharmaceutical & biopharmaceutical industry in the region, the rising R&D expenditure, stringent regulations, and the presence of major providers of cardiac safety services in the US and Canada. Additionally, growth of the North American cardiac safety services market is driven by significant factors such as a multitude of ongoing clinical trials, the expansion of the biosimilars and generics sector, and the increasing adoption of outsourcing preclinical, clinical, and laboratory testing services by pharmaceutical and biopharmaceutical companies.

Recent Developments

In August 2023, Clarion (US) collaborated with Dr. Vince Clinical Research (DVCR) (US). The strategic collaboration helps Clario (US) deliver accurate and cost-efficient cardiac safety data in the early clinical development stages.
In October 2022, IQVIA (US) launched its first self-collection safety lab panel for US clinical trial participants by a leading global clinical trial laboratory.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=174488627

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.

630 Dundee Road

Suite 430

Northbrook, IL 60062

USA: +1-888-600-6441

Email: [email protected]