Cardiac Safety Services Market worth $752 million by 2024

Market growth is largely driven by factors such as the growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, increased outsourcing of R&D activities, and the increasing number of clinical trials. The introduction of new technologies & methods and growth in the biosimilars and biologics market are expected to provide a wide range of growth opportunities for players operating in this market.

The cardiac safety services market is expected to grow from USD 442 million in 2019 to reach USD 752 million by 2024, at a CAGR of 11.2%

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The integrated services segment to dominate the cardiac safety services market in 2018.
Based on type, the market is categorized into integrated and standalone services. The integrated services segment accounted for the largest market share in 2018. This is primarily attributed to the benefits of bundled services to oversee end-to-end developments, as compared to the specificity of standalone services.

The pharmaceutical & biopharmaceutical companies segment to dominate and grow at the fastest rate in the cardiac safety services market in 2018.
Based on end user, the market is segmented into pharmaceutical & biopharmaceutical companies and contract research organizations (CROs). The pharmaceutical & biopharmaceutical companies segment accounted for the largest market share in 2018. This segment is also poised to be growing at the fastest rate during the forecast period. The large share of this segment can be attributed to factors such as the stringent regulations for drug safety and increasing R&D activities to develop new drugs.

Which is the leading type of service used in cardiac safety services?

The cardiac safety services market is categorized into integrated and standalone services. The integrated services segment accounted for the largest market share in 2018. The large share of this segment can be attributed to the benefits of bundled services to oversee end-to-end developments, as compared to the specificity of standalone services. However, the standalone services cost low as compared to integrated services due to singular nature.

What is the type for cardiac safety services that are widely used and delivery mode?

The cardiac safety services market is categorized into integrated and standalone services. The integrated services segment accounted for the largest market share in 2018. The large share of this segment can be attributed to the benefits of bundled services to oversee end-to-end developments, as compared to the specificity of standalone services. However, the standalone services cost low as compared to integrated services due to singular nature.

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Regional Growth, Development and Demand Analysis:

The global market is segmented into North America, Europe, the Asia Pacific, and the RoW. In 2018, North America commanded the largest share of the market. This can be attributed to the presence of major pharmaceutical & biopharmaceutical companies and the large number of clinical trials performed in the region.

Key Market Players

The prominent players operating in this market include Biotrial (France), Banook Group (France & Canada), Bioclinica (a subsidiary of Cinven, US), Certara L.P. (US), Celerion, Inc. (US), ERT, Inc. (US), Laboratory Corporation of America Holdings (US), Medpace Holdings, Inc. (US), Ncardia AG (Belgium), Richmond Pharmacology (UK), PhysioStim (France), Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC (US), SGS S.A. (Switzerland), BioTelemetry, Inc. (US), and IQVIA (US).

 

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