23-Mar-2020 | Zion Market Research
Zion Market Research has published a new report titled “Cardiac Safety Services Market by Type (Standalone and Integrated Services); Service Type (Cardiovascular Imaging, Blood Pressure Measurement, Thorough QT Studies, ECG/Holter Measurement and Other Services); by End User (Contract Research Organizations (CROs), Biopharmaceutical and Pharmaceutical Companies and Other End Users) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026”. According to the report, global demand for cardiac safety services market was valued at approximately USD 436.6 million in 2019, and is expected to generate revenue of around USD 953.2 million by end of 2026, growing at a CAGR of around 11.8% between 2020 and 2026.
Browse the full “Cardiac Safety Services Market by Type (Standalone and Integrated Services); Service Type (Cardiovascular Imaging, Blood Pressure Measurement, Thorough QT Studies, ECG/Holter Measurement and Other Services); by End User (Contract Research Organizations (CROs), Biopharmaceutical and Pharmaceutical Companies and Other End Users) and by Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/cardiac-safety-services-market
Cardiac safety services deal with the designing and supporting the clinical trials or other studies that require monitoring of cardiac safety. The cardiac safety services focus on monitoring of entire cardiac safety profile from Phase I–IV for the given study compound in compliance with ICH, EMA, FDA, PMDA, and other regulatory authorities and industry guidelines. Cardiac safety services include ECG/Holter measurement, cardiovascular imaging, blood pressure measurement, thorough QT studies and other services.
The global demand for cardiac safety services market is driven by factors such as increasing R&D expenditure in the biopharmaceutical and pharmaceutical industry, the surge in number of clinical trials and increasing preference for outsourcing of R&D activities. The introduction of new methods and technologies, growing use of biosimilars, increasing market growth of biologics and biosimilars are some other factors that are expected to open new growth opportunities for market players working in cardiac safety services market. However, high cost of safety evaluation may act as restraining factors for the market growth in the coming years. Introduction of new methods and technologies, Extensive biologics and biosimilar drug pipeline are factors expected to open new growth avenues for market players in the coming years.
Based on type, global cardiac safety services market is segmented into integrated and standalone services. Market was dominated by integrated services in 2018 and will retain its dominance over the forecast period. The large share is attributed to the advantages of bundled services to manage end-to-end developments in contrast to the specificity of standalone services.
Based on service type, market is segmented into cardiovascular imaging, blood pressure measurement, thorough QT studies, ECG/Holter measurement and other services. In 2018, ECG/Holter measurement segment held largest revenue share. On the other hand thorough QT studies segment is projected register fastest growth rate during the forecast period.
The end user segment of the cardiac safety services market is categorized into contract research organizations (CROs), biopharmaceutical and pharmaceutical companies and other end users. Biopharmaceutical and pharmaceutical companies dominated the market in 2018 with largest market share. Contract research organizations (CROs) will witness rapid growth in the coming years.
North America held largest revenue share of the global cardiac safety services market in 2018. This large share is attributed to strong presence of key biopharmaceutical and pharmaceutical players in this region. Europe was second leading regional market. Presence of developed infrastructure and increasing R&D spending are key factors that boost market growth in European region. Asia Pacific region is estimated to be rapidly growing regional market for cardiac safety services due to increasing focus of major CROs on capturing growth opportunities in emerging markets like China and India. Moderate growth is estimated in Latin America region over the forecast period. Middle East and Africa will witness sluggish growth in the coming years.
Major players in cardiac safety services market are Biotrial, Banook Group, Bioclinica (a subsidiary of Cinven), Certara L.P., Celerion, Inc., ERT, Inc., Laboratory Corporation of America Holdings, Medpace Holdings, Inc., Ncardia AG, Richmond Pharmacology, PhysioStim, Shanghai Medicilon Inc., Pharmaceutical Product Development LLC, SGS S.A., BioTelemetry, Inc., and IQVIA among others.
The report segment of global cardiac safety servicesmarket as follows:
Global Cardiac Safety Services Market: Indication
Global Cardiac Safety Services Market: By Drug Class
Global Cardiac Safety Services Market: By Route of Administration
Global Cardiac Safety Services Market: By Distribution Channel
Global Cardiac Safety Services Market: By Region
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