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Cardiac Safety Services Market worth $2.52 billion by 2030, growing at a CAGR of 10.73% - Exclusive Report by 360iResearch
Cardiac Safety Services Market | 360iResearch
The Global Cardiac Safety Services Market to grow from USD 1.11 billion in 2022 to USD 2.52 billion by 2030, at a CAGR of 10.73%.
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Cardiac safety services provide services, solutions, and technologies for evaluating the safety of medical devices, drugs, and interventions concerning their potential effects on cardiac health. These services encompass various applications, including preclinical testing, clinical trials, post-marketing surveillance, and risk management for pharmaceutical companies, biotechnology firms, medical device manufacturers, and healthcare providers. The surge in the prevalence of cardiovascular diseases worldwide and the growing focus on personalized medicine is propelling the need for early diagnosis and accurate risk assessments for cardiac. Stringent regulations imposed by health authorities necessitate a detailed evaluation of potential side effects on cardiac function before marketing approval for drugs and medical devices. However, high costs associated with comprehensive cardiovascular risk assessment procedures may limit their adoption, particularly in resource-limited settings or smaller organizations without extensive research and development (R&D) budgets.
The cardiac safety services market is witnessing significant growth in the Americas owing to the increasing prevalence of cardiovascular diseases, higher healthcare expenditures, and advancements in diagnostic technologies. Investments in research and development have resulted in several new patents, such as noninvasive blood pressure monitoring algorithms and cardiac biomarker detection methods in the Americas. In the European Union (EU), regulatory authorities' stringent measures have led to increased demand for cardiac safety services. The EMEA region is investing heavily in improving healthcare infrastructure and attracting international investments for specialized medical services such as cardiac safety services. The APAC region boasts a rapidly expanding market for cardiac safety services driven by an aging population and increasing cardiovascular disease incidence, and the government supports the development of innovative technologies through investments in research. Additionally, pharmaceutical companies are increasingly investing in research to develop cost-effective cardiac monitoring solutions, which are expected to boost their use by end-users worldwide.
Market Segmentation & Coverage:
This research report categorizes the Cardiac Safety Services Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Service Type, market is studied across Blood Pressure Measurement Services, Cardiovascular Imaging Services, ECG or Holter Measurement Services, and Thorough QT Studies. The Cardiovascular Imaging Services commanded largest market share of 37.94% in 2022, followed by Blood Pressure Measurement Services.
Based on Type, market is studied across Integrated Services and Standalone Services. The Integrated Services commanded largest market share of 60.46% in 2022, followed by Standalone Services.
Based on End-User, market is studied across Contract Research Organizations and Pharmaceutical & Biopharmaceutical Companies. The Pharmaceutical & Biopharmaceutical Companies commanded largest market share of 59.17% in 2022, followed by Contract Research Organizations.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 42.72% in 2022, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Cardiac Safety Services Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Cardiac Safety Services Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Cardiac Safety Services Market, highlighting leading vendors and their innovative profiles. These include Abbott Laboratories, AliveCor, Inc., Banook Group, Biotrial, Butterfly Network Inc., Celerion, Certara, Inc., Circle Cardiovascular Imaging Inc., Clario, Clyde Biosciences Limited, Dozee, Eurofins Scientific SE, GE HealthCare Technologies Inc., ICON PLC, IQVIA Holdings Inc., Koninklijke Philips N.V., Laboratory Corporation of America Holdings, Lunit Inc., Medpace, Inc., MERIT CRO, Inc., Metrion Biosciences Limited, Ncardia Services B.V., NEXEL Co., Ltd., Octagos Health, Inc., PhysioStim SAS, Richmond Pharmacology Limited, Shanghai Medicilon Inc., Siemens Healthcare GmbH, Tempus Labs, Inc., Thermo Fisher Scientific Inc., and Toray Medical Company Limited by Toray Industries.
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Cardiac Safety Services Market, by Service Type
7. Cardiac Safety Services Market, by Type
8. Cardiac Safety Services Market, by End-User
9. Americas Cardiac Safety Services Market
10. Asia-Pacific Cardiac Safety Services Market
11. Europe, Middle East & Africa Cardiac Safety Services Market
12. Competitive Landscape
13. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Cardiac Safety Services Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Cardiac Safety Services Market?
3. What is the competitive strategic window for opportunities in the Cardiac Safety Services Market?
4. What are the technology trends and regulatory frameworks in the Cardiac Safety Services Market?
5. What is the market share of the leading vendors in the Cardiac Safety Services Market?
6. What modes and strategic moves are considered suitable for entering the Cardiac Safety Services Market?
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360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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