Global Cardiac Safety Services Market is expected to grow at a CAGR of 11.8% during the forecast period 2020-2027
A new research report published by Fior Markets with the title Cardiac Safety Services Market by Type (Standalone Services, Integrated Services), Service (Cardiovascular Imaging, ECG/Holter Measurement, Thorough Q.T. Studies, Blood Pressure Measurement, Others), End-User (Pharmaceutical & Biopharmaceutical Companies, Contract Research Organizations), Regions, and Global Forecast 2020-2027.
The global cardiac safety services market is expected to grow from USD 436 million in 2019 to USD 1,010 million by 2027, at a CAGR of 11.8% during the forecast period 2020-2027. The Asia-Pacific region stands as a promising market for cardiac safety services and is expected to grow at the highest CAGR during the forecast period. This high rate of growth can be attributed to rapid medical infrastructure development. The markets in India and China are proliferating, commanding significant shares in the regional market. Currently, North America holds the largest market share according to revenue. This is because of the vast number of clinical trials conducted in this area and the presence of significant pharmaceutical & biopharmaceutical companies.
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Key players in the global cardiac safety services market are Pharmaceutical Product Development LLC, Ncardia AG, Bioclinica, Medpace Holdings, Richmond Pharmacology, Biotrial, PhysioStim, Certara L.P., Shanghai Medicilon Inc., BioTelemetry Inc., Celerion Inc., IQVIA, ERT, Banook Group, Laboratory Corporation of America Holdings, BioTelemetry Inc., and SGS S.A. among others. Key companies are mainly focusing on developing new products, forming partnerships, and joint ventures to gain significant market share in the global cardiac safety services market.
In 2018, ERT, a multinational data and technology company that minimizes complexity and danger in clinical trials, today announced its unified cardiac safety assessment solution for late-phase clinical trials, called the Rapid ECG.
The type segment includes standalone services and integrated services. The integrated services segment dominated the market with the largest market share. This is chiefly due to the advantages of bundled services over a single service. On the basis of service, the market has been segmented into cardiovascular imaging, ECG/Holter measurement, thorough Q.T. studies, blood pressure measurement, and others. The ECG/Holter measurement services segment is projected to grow the fastest during the forecast period due to its low cost and broad applications in measuring cardiac activity. Based on end-user, the market has been divided into pharmaceutical & biopharmaceutical companies and contract research organizations. The pharmaceutical & biopharmaceutical companies sub-segment is projected to capture the largest share of the market as well as grow the fasted due to rising R&D activities for developing new drugs and strict drug safety regulations.
About the report:
The global cardiac safety services market is analyzed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes an analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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