Visiongain has published a new report on Cardiac Safety Services Market : Forecasts by Type (Standalone, Integrated), Services (ECG/Holter Measurement, Blood Pressure, Cardiac Imaging, Thorough QT Study, Other Services), End User (Pharmaceutical & Biopharmaceutical Companies, CRO). PLUS, Profiles of Leading Companies and Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
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Global Cardiac services is likely to grow by the factors such as growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, increased outsourcing of R&D activities, and increasing number of clinical trials, the introduction of new technology and methods and growth in the biosimilars and biologics market are expected to provide a wide range of growth.
COVID-19 Impact on Cardiac Safety Services
After this life taking pandemic COVID-19, awareness related to cardiovascular disease is getting wide-spread among the masses owing to the panic and fear created by the virus spread. Thus, this market is likely to grow in future period.
Segment Analysis
- The global market for cardiac safety services is categorised on the basis of service type, the market is further classified into blood pressure measurement services, cardiovascular imaging services, ECG measurement services, thorough QT studies.
- Based on end user, the market is segmented into pharmaceutical & biopharmaceutical companies and contract research organizations (CROs). The pharmaceutical & biopharmaceutical companies segment recorded for the largest market share in 2019. This segment is also predicted to be growing at the fastest rate during the analysis period. The large share of this segment is contributed by the factors such as the stringent regulations for drug safety and increasing R&D activities to develop new drugs.
- The Contract research organisation segment is projected to have a substantial growth in the market due to the upsurge in the number of contract research services across the world.
Market Drivers
- Cardiac Safety Services market growth is largely attributed to the aspects such as the growing R&D spending in the pharmaceutical & biopharmaceutical industry, increased subcontracting of R&D activities, and the increasing number of clinical trials.
- Moreover, the invention 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.
Market Opportunities
- Increase in patients having cardiovascular diseases and awareness in the health relating problems. People are on the way to take right treatment which is proving to be a growth opportunity for the Cardiac Safety Services Market to grow.
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Competitive Landscape
Global Cardiac safety services market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships,acquisitions and others to increase their footprints in this market. Some of the companies mentioned are-Biotrial(France), Banook Group(France and Canada),Bioclinica(subsidiary of Cinven (US)),Centera LP(US), Celerion Inc.(US),ERT Inc. (US), Laboratory Corporation of America Holdings(US),Medpace Holdings Inc. (US),NcardiaAG(Belgium), RichmondPharmacology (UK), Phsiostim (France),Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC. (US), SGS S.A(Switzerland),BioTelemetry, Inc. (US),IQVIA (US).
Recent Developments
- In 2018, ERT introduced its rapid ECG.
- In 2018, Bioclinica introduced an expanded and improved 'SMART' technology suite available with medical imaging, EDC, and IRT.
- In 2018, ERT launched its Phase I QT Centre of Excellence in France
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