Cardiac Safety Services Market by Type (Standalone, Integrated), Services (ECG/Holter measurement, Blood Pressure measurement, Cardiac Imaging, Thorough QT Studies), End User (Pharmaceutical, Biopharma, CROs) - Global Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

According to Nova one advisor, the global Cardiac Safety Services market size is expected to hit around USD 4.2 billion by 2030 from valued at USD 1.7 billion in 2022 and growing at a CAGR of 14.2% from 2022 to 2030.

Cardiac Safety Services Market: Introduction

• Cardiac safety services can be defined as services that deal with supporting and designing clinical trials and other studies required for the monitoring of cardiac safety
• Cardiac safety services are focused on monitoring the entire cardiac safety profile across various phases of clinical trials, including Phase I to Phase IV. These studies are done in compliance with FDA, PMDA, EMA, and other regulatory bodies.
• Cardiovascular safety assessment services include non-invasive cardiac imaging, physiologic stress testing, platelet aggregation, ambulatory blood pressure monitoring, and other services, along with the QT studies
• Integrated services offering cardiac safety services are mostly preferred owing to the bundling of services with focus on end-to-end development, as compared to the specificity of standalone services

Report Scope of the Cardiac Safety Services Market

Global Cardiac Safety Services Market Dynamics

Rising R&D expenditure in pharmaceutical & biopharmaceutical industry

Pharmaceutical companies invest in R&D to deliver high-quality and innovative products in the market. Current trends suggest that top pharmaceutical companies are increasing their R&D efficiencies through heavy R&D investments to see returns on their investment in the longer term and through collaborative R&D efforts. This will contribute to the increased demand for preclinical and clinical services including cardiac safety evaluation.

Growth in biosimilars and biologics markets

Many companies are investing heavily in the development of biologics and biosimilar molecules. More than half of the drug candidates in the discovery stage are biologics, such as proteins, peptides, and monoclonal antibodies. As newer biologics are being discovered or are in the pipeline, pharmaceutical and biopharmaceutical companies are heavily investing in their R&D. Further, biosimilars are cost-effective because they are not required to comply with stringent regulatory requirements, as they are generic versions of patented biologic drugs. Thus, compared to small molecules, biologics and biosimilars require specialized testing services. This will bring opportunities for safety assessment providers to expand their portfolios and capabilities

High cost of cardiac safety services

The rising costs of drug development and the decline in the number of new drugs approved in the US are significant problems that threaten public health. Cardiac safety evaluations of off-target drug effects are generally expensive, time-consuming, and contribute to the termination of many new molecular entities. This affects the demand for cardiac safety evaluation studies and hinders overall drug development.

The Integrated services segment is expected to have the dominant share of the market by type in 2021:

Integrated services are provided as a bundle of services to pharmaceutical and biopharmaceutical companies. These state-of-the-art core lab services offer an end-to-end suite of cardiac safety services, such as imaging services, TQT studies, and profile QT studies. They also monitor off-target cardiovascular liability and onsite multichannel telemetry conducted by certified nurses to aid in the real-time assessment of heart rate and rhythm. As a result, these services help enhance and expedite clinical trials in the pharmaceutical and biopharmaceutical development cycle.

North America to Lead Global Cardiac Safety Services Market

• In terms of region, the global cardiac safety services market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
• North America dominated the global cardiac safety services market in 2021, owing to significant presence of leading market players, strong product pipeline, increase in investments on research and development, and a rise in the prevalence of cardiovascular diseases in the region
• Europe followed North America in terms of share of the global cardiac safety services market in 2019. The market in Asia Pacific is projected to expand at a rapid pace, followed by Latin America and Middle East & Africa. Growing focus of governments of countries in Asia on enhancing health care facilities, increasing focus of market players on Asia Pacific for outsourcing of research activities, arise in the prevalence of cardiovascular diseases contributing to the increase in the research pool, and availability of labor at lower costs fuel the global cardiac safety services market.

Some of the prominent players in the Cardiac Safety Services Market include:

Laboratory Corporation of America Holdings (US), Koninklijke Philips N.V. (Netherlands), Clario (US), Banook Group (France), IQVIA (US), Biotrial (France), Certara (US), Celerion (US), Medpace (US), Ncardia (Netherlands), Richmond Pharmacology (UK), PhysioStim (France), Shanghai Medicilon (China), Pharmaceutical Product Development (US), and SGS (Switzerland).

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Cardiac Safety Services market

By Type

• Integrated Services
• Standalone Services

By Type of Service

• ECG/Holter Measurement
• Blood Pressure Measurement
• Cardiovascular Imaging
• Thorough QT Studies
• Other Services

By End User

• Pharmaceutical & Biopharmaceutical Companies
• Contract Research Organizations

By Regional Outlook

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Cardiac Safety Services industry analysis from 2022 to 2030 to identify the prevailing Cardiac Safety Services industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Cardiac Safety Services industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Cardiac Safety Services industry trends, key players, market segments, application areas, and market growth strategies.