Cardiac Safety Services Market Size, Share, Industry Growth, Trend, Business Opportunities, Challenges, Drivers and Restraint Research Report by 2027
The rising incidences of Cardiovascular disorders, improved technological advances, rising prevalence of heart related diseases, rising geriatric population, new product launches, and strategic collaboration, are key factors contributing to the high CAGR of the Cardiac Safety Services market during the forecast period.
According to the current analysis of Reports and Data, the global Cardiac Safety Services Market valued at USD 384.9 million in 2018 and is expected to reach USD 895.7 million by the year 2026, at a CAGR of 11%. Cardiac safety is the primary cause of the Clinical trial delay and drug abandonment. Cardiac Safety services are beneficial for monitoring the abnormalities of the heart. There has been a significant rise in the R&D expenditure in the pharmaceutical & biopharmaceutical industry and increased R&D activities. The increase in the number of clinical trials is fuelling the growth of the market. Additionally, the advances of the new technologies in the cardiac services market are offering growth opportunities for players in the market. However, the high expenditure cost of cardiac safety evaluation is hindering the growth of the market.
American college of cardiology has reported in the year 2019 that Cardiovascular disease (CVD) is the primary cause of death in the United States and is responsible for 840,768 deaths in 2016. From 2006 - 2016, the U.S. death rate from cardiovascular disorders have decreased by 18.6% and from coronary heart disease by 31.8%.
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Further key findings from the report suggest :
- Microsoft had launched Microsoft Hololens; it enables the measurement and visualization of blood flow. Microsoft Hololens do not require any tethering device or any additional hardware. The system includes a front-facing camera, remote imaging photoplethysmography software; it allows the users to view the physiological state of a person by simply looking at them. The blood Flow is measured by just looking at the appearance of the subject.
- Acoalition of professional societies had developed the AUC (Appropriate use criteria) for cardiac imaging to standardize the cardiac imagining system for patients with congenital heart disease it was developed by the American College of Cardiology (ACC), American Heart Association (AHA), American Society of Echocardiography, and the International Society for Adult Congenital Heart Disease, AUC provides guidelines to the clinicians to understand the relative risks and benefits of various cardiovascular procedures it also guidelines to understand the risk tetralogy of Fallot, transposition, or atrial septal defects
- ERT in the year 2018 had launched a Cardiac Safety Center and is also the first to do it; they offer cardia safety assessment in Phase 1 studies using integrated ECG analysis. They had used the Icardiac Technologies for obtaining a precise ECG data using an ERT Expert technology platform.
- ECG or Holter monitors in the product and service segment have obtained the largest share in the year 2018 of about 31.5% due to an increase in the rise of cardiac disorders in individuals and easy monitoring by these devices.
- North America in the region has obtained an exceptional share due to better healthcare facilities, improved clinical trials, and also due to the prevalence of the incidences of cardiovascular disorders and also due to the presence of major pharmaceutical & biopharmaceutical companies in the region.
- Biotrial (France), Banook Group (France & Canada), Bioclinica (a subsidiary of Cinven, US), Certara L.P. (U.S.), Celerion, Inc. (U.S.), ERT, Inc. (U.S.), Laboratory Corporation of America Holdings (U.S.), Medpace Holdings, Inc. (U.S.), Ncardia AG (Belgium), Richmond Pharmacology (U.K.), PhysioStim (France), Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC (U.S.), SGS S.A. (Switzerland), BioTelemetry, Inc. (U.S.), IQVIA (U.S.), OMRON Healthcare, Inc (Japan), Biobeat (U.S.) and InBody USA (U.S.), Microsoft (U.S.) are the key players in the Cardiac Safety Services market
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For the purpose of this purpose, Reports and Data have segmented the Cardiac Safety Services market on the basis of product and service, applications, end use and region.
Product and Services Outlook (Revenue in Million USD; 2017–2024)
- ECG/Holter Measurement
- Blood Pressure Measurement
- Cardiovascular Imaging
- Thorough Q.T. Studies
- Other Services
Applications Outlook (Revenue in Million USD; 2017–2024)
- Integrated Services
- Standalone Services
End Use Outlook (Revenue in Million USD; 2017–2024)
- Pharmaceutical Companies
- Biopharmaceutical Companies
- Contract Research Organizations
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Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
- North America
- Asia Pacific
- Latin America
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