Pune, July 19, 2024 (GLOBE NEWSWIRE) -- Cardiac Safety Services Market Size & Growth Analysis:
“According to SNS Insider Research, The Cardiac Safety Services Market size was valued at US$ 740 Million in 2023 and is anticipated to surpass US$ 1,888.34 Million, with a compound annual growth rate (CAGR) of 11.48% over the forecast period 2024-2032.”
The growth of the cardiac safety service market is primarily driven by the rise in the prevalence of cardiovascular diseases and increased patient awareness of cardiac issues and chronic heart diseases. For instance, the British Medical Journals published an article in November 2021, which reported that. The Centers for Disease Control and Prevention data updated in January 2022 states that nearly 1 out of 100 babies are born with a heart problem, which is about 40,000 births in the USA annually.
Some types of CHDs are on the rise in prevalence, mainly mild types, and others have remained stable. For several years, a ventricular septal defect has been the most frequently diagnosed heart problem in newborns. Therefore, the growing prevalence of cardiovascular diseases is expected to drive cardiac safety service adoption. Hence, rising cardiovascular disease prevalence and increased R&D expenditure by healthcare companies contribute to this market’s growth. Nevertheless, the exorbitant costs of services and personnel shortage may hamper business expansion.
Get a Sample Report of Cardiac Safety Services Market@ https://www.snsinsider.com/sample-request/4378
Major Players Analysis Listed in this Report are:
- Ncardia AG
- Celerion
- Certara
- Clario
- Richmond Pharmacology
- Koninklijke Philips N.V. (BioTelemetry)
- Laboratory Corporation of America Holdings
- Medpace
- Biotrial
- PhysioStim
- Other Players
Cardiac Safety Services Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | US$ 740 Million |
| Market Size by 2032 | US$ 1,888.34 Million |
| CAGR | CAGR of 11.48% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | •The Growing Burden of Cardiovascular Diseases is Responsible for the Increasing Demand for Cardiac Safety Services Propelling the Market Growth. •Increased Focus on Developing Personalized Medicines is Boosting the Cardiac Safety Services Market Growth. |
Need any customization research or Industry Insights on Cardiac Safety Services Market, Enquire Now@ https://www.snsinsider.com/enquiry/4378
Segmentation Dynamics
Holter monitor accounted for about 32% of its revenue in 2023. Increasing geriatric population and rising prevalence of cardiovascular diseases are projected to drive growth in the segment. Old age is frequently interrelated with a better incidence of cardiovascular diseases. For example: In the December 2022 issue, among other facts and figures reported by the American Heart Association, older patients are characterized in metabolic terms for having more "notable" adaptational changes within their functional anatomy during ACS as well as a higher incidence of cardiovascular compliances that come with aging which could render both diagnosing and treating all types of heart disease (myocardial infarctions included) significantly problematic to physicians mandated from protecting against such occurrences.
That occurs because in older people large arteries begin to stiffen. The heart muscle works harder but pumps less efficiently. Therefore, the complexity of identification and treatment for cardiovascular diseases is predicted to enhance ECG/Holter measurement services use in the geriatric population. In addition, increasing incidences of cardiovascular diseases are likely to drive the segment growth. For example, WHO data reveals that in October 2022 the lifetime risk of suffering from a stroke has increased to at least fifty percent over only seventeen years and now one out of every four people is predicted to have a stroke sometime during their life.
Moreover, the major market players' key developments are anticipated to support in growth of this segment. For example, in June 2021AliveCor, provider of ECG technology and services acquired CardioLab, an independent diagnostic testing facility (IDTF) to extend its cardiological offerings for patients who are issued monitoring devices by their healthcare providers.
Cardiac Safety Services Market Key Segmentation:
By Type
- Integrated
- Stand-alone
By Service
- ECG/Holter Measurement
- Blood Pressure Measurement
- Cardiovascular Imaging
- Thorough QT Studies
- Others
By End User
- Pharmaceutical and Biopharmaceutical Companies
- Contract Research Organizations
- Others
Regional Insights
In 2023, North America led the cardiac safety services market with 44% of revenue. North America is expected to represent a large share of the cardiac safety services market shortly, due increased number of patient populations that are elderly and growing incidences cardio cardiovascular diseases. The report also mentions the statistics of heart attacks in America, as reported by 2020 data from the American Heart Association that around 605,000 new cases and about 200,000 recurrent cases of myocardial infarctions are recorded every year. COVID-19 has raised the risk of cardiac diseases among people now U.S. veterans with COVID-19 have a 72% increased risk of heart failure after one year, for example.
The Asia Pacific market is estimated to grow in the future years. Many other factors, such as economic and social determinants, the financing mechanisms of healthcare services, or the organizational structure of a health system affect how much money is being spent in an area in any given year and with what rate it grows over time. Between both developed and developing nations, healthcare spending has gone up especially as disposable income for the average person increases.
Buy a Single-User PDF of Cardiac Safety Services Market Analysis Report 2024-2032@ https://www.snsinsider.com/checkout/4378
Recent Developments
- In August 2023, Clarion partnered with Dr. Vince Clinical Research and the US Strategic partnership allows Clario to provide high-quality, cost-effective early clinical development cardiac safety data
- In October 2022, Global Clinical Trial Laboratory launched the first US clinical trial self-collection safety lab panel in IQVIA.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Cardiac Safety Services Market Segmentation, By Type
8. Cardiac Safety Services Market Segmentation, By Service
9. Cardiac Safety Services Market Segmentation, By End-User
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
Access Complete Report Details of Cardiac Safety Services Market Analysis 2024-2032@ https://www.snsinsider.com/reports/cardiac-safety-services-market-4378
[For more information or need any customization research mail us at info@snsinsider.com]
About Us:
SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.
