Cardiac Safety Services Market by Type (Standalone and Integrated), Services (Cardiac Imaging, ECG/Holter Measurement, Blood Pressure Measurement and Thorough QT Study), End User (Pharmaceutical Companies and Contract Research Organizations (CROs)) – Global Outlook & Forecast 2021-2031

GR - 481090 Category: Healthcare Services

Number of pages: 100-120 | Report Format: PDF | Published date: 28 January, 2020

Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031

Report Overview

The global cardiac safety services market was pegged at ~US$ 488 million in 2020 and is expected to witness a CAGR of ~11.0% during the forecast period.

Market Fundamentals

Cardiac safety services help in 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 to 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.

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Market Dynamics

The global cardiac safety services market is mainly driven by increasing number of clinical trials, and growing R&D activities in pharmaceuticals and biopharmaceutical companies. Technological advancements in healthcare industry and growing developments in the biosimilars & biologics are also playing a pivotal role in contributing to the market growth globally. However, high cost of cardiac safety evaluation is likely to restrain the market growth to a certain extent.

Market Ecosystem

The global cardiac safety services market has been analyzed from four perspectives: Type, Services, End User, and Region.

Cardiac Safety Services Market by Type

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Based on type, the market has been segmented into standalone and integrated. The integrated segment is expected to hold highest share during the forecast period owing to its advantages of bundled services to oversee end-to-end developments as compared to the specificity of standalone services.

Cardiac Safety Services Market by Services

Based on services, the market has been segmented into cardiac imaging, ECG/holter measurement, blood pressure measurement, thorough QT study and other services. ECG/holter measurement services segment is expected to hold highest share during the forecast period. The growth of the segment in the global market can be largely attributed to its low cost and their wide usage in measuring cardiac activity.

Cardiac Safety Services Market by End User

Based on end user, the cardiac safety services market has been segmented into pharmaceutical companies, contract research organizations (CROs) and others. Contract Research Organizations (CROs) segment is expected to be the fastest-growing market for cardiac safety services and is anticipated to contribute significantly to the global market share during the forecast period. The growth of the segment can mainly be attributed to the increasing number of clinical trials and increased outsourcing of R&D activities.

Cardiac Safety Services Market by Region

Based on region, the global cardiac safety services market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (ROW). North America dominated the cardiac safety services market, followed by Europe. The large share of North America in the global market can be attributed to presence of major pharmaceutical & biopharmaceutical companies, increase in investments in R&D activities, and rise in the prevalence of cardiovascular diseases in the region.

Competitive Landscape

Some of the prominent players operating in the cardiac safety services market includes:-

Medpace, Inc
Celerion
Biotrial
IQVIA
ERT Clinical
BioTelemetry, Inc
Laboratory Corporation of AmericaÂ® Holdings
Bioclinica
Ncardia
Richmond Pharmacology, among others.

Strategic Developments

In Oct 2018, VivaQuant collaborated with FDA for 5 years to research ways to improve cardiac safety assessment of medications. The aim of the collaboration was to improve understanding of ECG cardiac safety signatures and testing of new methodologies to enhance accuracy of safety assessment
In Oct 2018, ERT announced Rapid ECG, a new alert service available through SafePatient ECG. It's a centralized cardiac safety assessment solution for late phase clinical trials

Report Scope

Report Attribute	Details
Revenue forecast in 2031	USD ~1540 million
Market size value in 2020	USD ~488 billion
Growth Rate	CAGR of ~11.0% from 2021 to 2031
Base year for estimation	2020
Forecast period	2021-2031
Segments covered	Type, Services, End User
Regional scope	North America, Europe, Asia Pacific, and the Rest of the World (ROW)

Frequently Asked Questions About This Report

arrow_forward The global cardiac safety services Market was anticipated to clock US$ ~488 Million in 2020

arrow_forward The cardiac safety services market is projected to reach US$ ~1540 million by 2031

arrow_forward The global cardiac safety services market is mainly driven by increasing number of clinical trials, and growing R&D activities in pharmaceuticals and biopharmaceutical companies.

arrow_forward Medpace, Inc, Celerion, Biotrial, IQVIA, ERT Clinical, BioTelemetry, Inc, Laboratory Corporation of America® Holdings, Bioclinica, Ncardia, Richmond Pharmacology

arrow_forward The growth rate of cardiac safety services market is CAGR of ~11.0% between 2021-2031

arrow_forward North America held the largest share of the global cardiac safety services market in 2020

INTRODUCTION
1. Market Ecosystem
2. Geographic Scope
3. Timeline Under Consideration
  1. Historical Years – 2018 & 2019
  2. Base Year – 2020
  3. Forecasted Years – 2021 to 2031
4. Currency Used in the Report
RESEARCH METHODOLOGY
1. Research Approach
2. Data Collection Methodology
3. Data Sources
  1. Secondary Sources
  2. Primary Sources
4. Market Estimation Approach
  1. Bottom Up
  2. Top Down
5. Market Forecasting Model
6. Limitations and Assumptions
PREMIUM INSIGHTS
1. Current Market Trend (COVID-19 Perspective)
2. Key Players & Their Competitive Positioning (2020)
MARKET DYNAMICS
1. Drivers
2. Restraints/Challenges
3. Opportunities
GLOBAL CARDIAC SAFETY SERVICES MARKET – ANALYSIS & FORECAST, BY TYPE
1. Standalone
2. Integrated
GLOBAL CARDIAC SAFETY SERVICES MARKET – ANALYSIS & FORECAST, BY SERVICES
1. Cardiac Imaging
2. ECG/Holter Measurement
3. Blood Pressure Measurement
4. Thorough QT Study
5. Other Services
GLOBAL CARDIAC SAFETY SERVICES MARKET – ANALYSIS & FORECAST, BY END USER
1. Pharmaceutical Companies
2. Contract Research Organizations (CROs)
3. Others
GLOBAL CARDIAC SAFETY SERVICES MARKET – ANALYSIS & FORECAST, BY REGION
1. North America Cardiac Safety Services Market
  1. North America Cardiac Safety Services Market, By Country
    1. U.S.
    2. Canada
  2. North America Cardiac Safety Services Market, By Type
  3. North America Cardiac Safety Services Market, By Services
  4. North America Cardiac Safety Services Market, By End User
2. Europe Cardiac Safety Services Market
  1. Europe Cardiac Safety Services Market, By Country/Region
    1. Germany
    2. U.K
    3. France
    4. Rest of Europe (ROE)
  2. Europe Cardiac Safety Services Market, By Type
  3. Europe Cardiac Safety Services Market, By Services
  4. Europe Cardiac Safety Services Market, By End User
3. Asia Pacific Cardiac Safety Services Market
  1. Asia Pacific Cardiac Safety Services Market, By Country/Region
    1. China
    2. Japan
    3. India
    4. Rest of Asia Pacific (RoAPAC)
  2. Asia Pacific Cardiac Safety Services Market, By Type
  3. Asia Pacific Cardiac Safety Services Market, By Services
  4. Asia Pacific Cardiac Safety Services Market, By End User
4. Rest of the World (RoW) Cardiac Safety Services Market
  1. Rest of the World Cardiac Safety Services Market, By Region
    1. Latin America
    2. Middle East & Africa
  2. Rest of the World Cardiac Safety Services Market, By Type
  3. Rest of The World Cardiac Safety Services Market, By Services
  4. Rest of The World Cardiac Safety Services Market, By End User
COMPANY PROFILES
1. Medpace, Inc.
  1. Business Snapshot
  2. Services Offered
  3. Financial Details*
  4. Strategic Developments
2. Celerion
3. Biotrial
4. IQVIA
5. ERT Clinical
6. BioTelemetry, Inc
7. Laboratory Corporation of America® Holdings.
8. Bioclinica
9. Ncardia
10. Richmond Pharmacology

*Insights on financial performance is subject to availability of information in public domain

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Cardiac Safety Services Market by Type (Standalone and Integrated), Services (Cardiac Imaging, ECG/Holter Measurement, Blood Pressure Measurement and Thorough QT Study), End User (Pharmaceutical Companies and Contract Research Organizations (CROs)) – Global Outlook & Forecast 2021-2031

Report Overview

The global cardiac safety services market was pegged at ~US$ 488 million in 2020 and is expected to witness a CAGR of ~11.0% during the forecast period.

Report Scope

Frequently Asked Questions About This Report

Table of Contents