What Has Been The Historical And Current Growth Of The Cardiac Safety Services Market?
The cardiac safety services market has seen considerable growth due to a variety of factors.
•The market for cardiac safety services has seen substantial growth lately. It is projected to increase from $1.06 billion in 2024 to $1.17 billion in 2025, with a compound annual growth rate (CAGR) of 10.1%.
Factors such as drug advancement and clinical studies, adherence to regulatory standards, a rise in heart-related disorders, the international expansion of clinical trials, and an emphasis on personalized medicine have all contributed to the historic period's growth.
What Is The Forecast For The Cardiac Safety Services Market By 2029?
The cardiac safety services market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for cardiac safety services is projected to undergo rapid expansion in the forthcoming years. A predicted value of $1.75 billion is estimated by 2029, with a compound annual growth rate (CAGR) of 10.7%.
Factors contributing to this growth during the anticipated period include the rise in remote patient monitoring, a shift towards decentralized clinical trials, an increase in orphan drug development, increased outsourcing of clinical trials, and a regulatory focus on patient-centric approaches. Additionally, key trends recognized for the forecasted period encompass the integration of wearable technologies, advancements in ECG technologies, decentralized clinical trials, data standardization, and interoperability, along with telehealth, remote consultations, and patient-centric methodologies.
Which Drivers Are Accelerating Growth In The Cardiac Safety Services Market?
The rise in cardiovascular illnesses is anticipated to drive the cardiac safety services market's expansion. Cardiovascular diseases encompass a variety of disorders that impact the heart and blood vessels, such as peripheral arterial disease, cerebrovascular disease, coronary heart disease, among others. Cardiac safety services focus on heart health and safety monitoring, identifying factors that contribute to cardiovascular disease prior to its onset, thereby aiding in preventative actions and decreasing mortality risks. For example, as stated by a journal published by Oxford University Press in March 2023, over 200 million individuals were afflicted with peripheral artery diseases in 2020, a number projected to surge by approximately 50% by 2045. Moreover, according to data released by the British Heart Foundation in September 2024, about 7.6 million people in the UK are suffering from heart and circulatory diseases, with close to 4 million men and 3.6 million women affected by these conditions. These diseases account for roughly 27% of all fatalities in the UK, leading to over 170,000 deaths annually, or about 480 deaths per day, equivalent to one fatality every three minutes. Consequently, the escalating prevalence of cardiovascular diseases is spurring the growth of the cardiac safety services market.
What Are The Core Segments Of The Global Cardiac Safety Services Market?
The cardiac safety services market covered in this report is segmented –
1) By Services: ECG Or Holter Measurements, Blood Pressure Measurements, In Vitro Cardiac Safety Assessment Services, Cardiovascular Imaging, Real-Time Telemetry Monitoring, Central Over-Read Of ECGS, Non-Invasive Cardiac Imaging, Physiologic Stress Testing, Thorough QT Studies, Other services
2) By Phase: Phase 1, Phase 2, Phase 3
3) By End User: Pharmaceutical And Biopharmaceutical Companies, Contract Research Organizations, Academic and Research Institute
Subsegments:
1) By ECG Or Holter Measurements: Standard ECG Monitoring, 24-Hour Holter Monitoring, Event Monitoring
2) By Blood Pressure Measurements: Continuous Blood Pressure Monitoring, Ambulatory Blood Pressure Monitoring, In-Hospital Blood Pressure Measurements
3) By In Vitro Cardiac Safety Assessment Services: Cardiomyocyte Toxicity Testing, Cardiac Ion Channel Testing, Mechanistic Studies
4) By Cardiovascular Imaging: Echocardiography, MRI Imaging, CT Angiography
5) By Real-Time Telemetry Monitoring: Remote Patient Monitoring, Continuous Telemetry Services
6) By Central Over-Read Of ECGs: ECG Interpretation Services, Quality Control And Reporting
7) By Non-Invasive Cardiac Imaging: Stress Testing, Nuclear Cardiology
8) By Physiologic Stress Testing: Exercise Stress Testing, Pharmacologic Stress Testing
9) By Thorough QT Studies: Clinical Trial Services, Safety Assessments For Drug Development
10) By Other Services: Cardiac Device Monitoring, Clinical Consultation Services
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Which Emerging Trends Are Reshaping The Cardiac Safety Services Market Size?
In the cardiac safety services market, the introduction of novel products is becoming increasingly trendy. To fortify their place in the market, key firms in this sector are concentrating on creating innovative solutions. Take for instance CATHI, a tech-forward company based in Germany known for developing endovascular simulation technologies. In March 2022, they introduced a new line of Right Heart Catheter (RHC) simulators, called CATHIS RHC 2. This latest iteration encompasses all the features of its predecessor and brings in wire-assisted navigation and an ability to function with actual liquids (S-HUB), enhancing the potential for performing thermodilution.
Who Are the Key Players in the Cardiac Safety Services Market?
Major companies operating in the cardiac safety services market include:
• Laboratory Corporation of America Holdings
• Banook Group Limited
• Pharmaceutical Product Development LLC
• Biotrial S.A.
• Certara Inc.
• Celerion Inc.
• Medpace Holdings Inc.
• Ncardia AG
• Richmond Pharmacology Limited
• PhysioStim
• SGS Société Générale de Surveillance SA
• Koninklijke Philips N.V.
• Clario
• NEXEL Co. Ltd.
• Eurofins Scientific SE
• InBody USA Inc.
• Spaulding Clinical Research LLC
• OMRON Healthcare Inc.
• ERT Inc.
• IQVIA Holdings Inc.
• Bioclinica Inc.
• ICON plc
• BioTelemetry Inc.
• Medidata Solutions Inc.
• SYNEXUS Clinical Research
• PPD Inc.
• Parexel International Corporation
• Chiltern International Limited
• ACI Clinical Inc.
• Biomedical Systems
• High Point Clinical Trials Center
• Maastricht University Medical Centre+
• CCBR-SYNARC
• Cytel Inc.
• CardioSecur Ltd.
• Medicalgorithmics S.A.
• Advarra Inc.
What are the Regional Insights into the Cardiac Safety Services Market?
North America was the largest region in the cardiac safety services market in 2024. The regions covered in the cardiac safety services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
