The Worldwide Cardiac Safety Services Industry is Expected to Reach $1.1 Billion by 2028 at a 11.1% CAGR

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Jan 21, 2023, 13:10 ET

DUBLIN, Jan. 21, 2023 /PRNewswire/ -- Research and Markets

The "Global Cardiac Safety Services Market Size, Share & Industry Trends Analysis Report by Type, End-user, Type of Service, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.

The Global Cardiac Safety Services Market size is expected to reach $1.1 billion by 2028, rising at a market growth of 11.1% CAGR during the forecast period.

These services include physiologic stress testing, non-invasive cardiac imaging, platelet aggregation, ambulatory blood pressure monitoring, and other services in addition to the QT tests. Due to the grouping of services with an emphasis on end-to-end development, integrated services that provide cardiac safety services are generally favored over standalone services because of the peculiarity of standalone services.

All elements of the cardiovascular system, including the heart, blood vessels, and blood constituents, are affected by cardiovascular safety liabilities, which include both cardiovascular and non-cardiovascular pharmaceuticals. Cardiovascular adverse effects can be functional or structural (such as histopathology) in nature and can happen after acute or chronic treatment.

The need for effective yet secure drug development is more critical than ever in a time of growing public scrutiny, rising business expenses, and limited resources at regulatory agencies. With 17.9 million deaths per year, cardiovascular diseases (CVDs) are the most common cause of death worldwide. Cerebrovascular disease, coronary heart disease, rheumatic heart disease, and other illnesses are among the category of heart and blood vessel disorders known as CVDs.

COVID-19 Impact Analysis
This prompted the pharmaceutical and health insurance industries to make the necessary changes to their offerings in order to include better provisions and facilities. In order to progress the evolution of medicine, this compelled the engagement of numerous research institutions and organizations dedicated to heart health.

Coronavirus-related catastrophes caused a significant number of patients with pre-existing unfavorable disorders to succumb to them, which had an effect on cardiac safety services. As a result of COVID-19's vigorous promotion of its development, the market for cardiac safety services was positively affected overall.

Market Growth Factors

Increase In Research For Biosimilars And Biologics
Numerous businesses are making significant investments in the creation of biologics and biosimilar compounds. In the discovery stage, biologics such peptides, proteins, and monoclonal antibodies make up more than half of the therapeutic candidates.

Pharmaceutical and biopharmaceutical businesses are heavily putting money into their research and development as novel biologics are being developed or are in the pipeline. Biosimilars are also less expensive because, being generic versions of patented biologic medications, they are not subject to the same strict regulatory standards.

High Prevalence Of Ech Holter Service Among The General Population
The rise in the number of elderly people and the increasing incidence of cardiovascular disorders are mostly to blame for the ECG Holter's expansion.

According to data released by Health System Tracker, heart disease is the top cause of mortality in the United States. These reasons make immediate heartbeat detection and constant heart rate monitoring equipment necessary. In the past few years, the healthcare system has employed ECG monitoring devices to look for any abnormalities in cardiac activity.

Market Restraining Factors

Lack Of Qualified Personnel For Clinical Trials
The R&D outsourcing industry for pharmaceuticals, biotechnology, and medical devices is always changing. To deliver high-quality services, adhere to acceptable laboratory procedures, and keep up with the ongoing developments in medical device and pharmaceutical R&D technologies and techniques, highly skilled experts are needed.

As they compete for trained and experienced scientists with biotechnology, pharmaceutical, and medical device businesses as well as research and academic organizations, CROs confront difficulties in attracting and keeping highly skilled personnel.

Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition and Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansion
3.3 Top Winning Strategies
3.3.1 Key Leading Strategies: Percentage Distribution (2018-2022)
Chapter 4. Global Cardiac Safety Services Market by Type
4.1 Global Integrated Market by Region
4.2 Global Standalone Market by Region
Chapter 5. Global Cardiac Safety Services Market by End User
5.1 Global Pharmaceutical & Biopharmaceutical Companies Market by Region
5.2 Global Contract Research Organizations Market by Region
Chapter 6. Global Cardiac Safety Services Market by Type of Service
6.1 Global ECG/Holter Measurement Market by Region
6.2 Global Blood Pressure Measurement Market by Region
6.3 Global Cardiovascular Imaging Market by Region
6.4 Global Thorough QT Studies Market by Region
6.5 Global Others Market by Region
Chapter 7. Global Cardiac Safety Services Market by Region
Chapter 8. Company Profiles
8.1 Koninklijke Philips N.V.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expense
8.1.5 Recent strategies and developments:
8.1.5.1 Partnerships, Collaborations, and Agreements:
8.1.5.2 Acquisition and Mergers:
8.2 Clario
8.2.1 Company Overview
8.2.2 Recent strategies and developments:
8.2.2.1 Partnerships, Collaborations, and Agreements:
8.3 IQVIA Holdings, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Product Launches and Product Expansions:
8.4 Laboratory Corporation of America Holdings
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Recent strategies and developments:
8.4.4.1 Acquisition and Mergers:
8.5 Pharmaceutical Product Development, Inc. (Thermo Fisher Scientific)
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.6 SGS S.A.
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.7 Banook Group
8.7.1 Company Overview
8.7.2 Recent strategies and developments:
8.7.2.1 Acquisition and Mergers:
8.7.2.2 Geographical Expansions:
8.8 Biotrial Research SAS
8.8.1 Company Overview
8.9 Certara, Inc.
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.9.4 Research & Development Expenses
8.9.5 Recent strategies and developments:
8.9.5.1 Product Launches and Product Expansions:
8.9.5.2 Acquisition and Mergers:
8.10. Celerion
8.10.1 Company Overview

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