Cardiac safety services is generally help in dealing with supporting and designing clinical trials and other studies required to monitor cardiac safety. Furthermore, cardiac safety services are focused to monitor entire cardiac safety profile across various phases of clinical trials, which includes, Phase I to Phase IV. Integrated services offering cardiac safety services are mostly preferred, owing to the bundling of services with a focus on end-to-end development, as compared to specificity of standalone services. Generally, the studies are done in compliance with PMDA, FDA, EMA, and various other regulatory bodies. Cardiovascular safety assessment services include physiologic stress testing, non-invasive cardiac imaging, platelet aggregation, ambulatory blood pressure monitoring, and other services, along with QT studies. QT interval is an ECG measure that describes time between ventricular depolarization (resulting in the “QRS complex”) and its repolarization (resulting in the “T wave”).
COVID-19 scenario analysis:
Coronavirus disease 2019 (COVID-19) has created an economic crisis along with health care crisis. COVID-19 pandemic has stretched healthcare system worldwide and developed countries are expected to face economic recession. The pandemic has an adverse impact on the healthcare system, resulting in 50% to 70% drop in revenue from March 2020. Many small hospitals, clinics, and nursing homes have been forced to shut their operations. Social distancing and localized curfews have resulted in delayed elective surgical procedures. In addition, visa cancellations have led to a hiatus in medical tourism and can negatively impact the healthcare services market growth.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major factor affecting the cardiac safety services market includes the growth in investments in the research & development activities in this sector. This is anticipated to help the industry grow during forecast period. Furthermore, outsourcing of various research activities has been observed, which is expected to help the industry gain traction in the coming years. Surge in the number of clinical trials is anticipated to help the industry gain higher revenue in next few years. There has been a steep increase in introduction of newer technologies and methods and surge in growth of the demand for the biosimilars and biologics in the market are anticipated to help the industry flourish in the coming years.
Growth in number of launches to boost the market
Growth in number of launches would help the industry flourish during the forecast period. For instance, in February 2018, ERT launched a Phase I QT Center of excellence to enable pharmaceutical companies to make better informed “go/no-go” drug development decisions. It would help sponsors to gain actionable and reliable information about cardiac safety profiles of their compounds at the earliest in the drug development process. The company would offer cardiac safety assessment in Phase I studies using its integrated ECG analysis platform, EPQT which was launched parallel with the center.
Furthermore, in October 2018, ERT, announced Rapid ECG, a new alert service available through SafePatient ECG. This is a global data and technology company that minimizes uncertainty and risk in clinical trials. In addition to this, SafePatient ECG is a centralized cardiac safety assessment solution for late phase clinical trials. Similarly, Rapid ECG expedites analysis of screening and other ECGs, and is delivered within only 4 hours to optimize patient enrollment and ensure patient safety in large, complex global clinical trials.
Surge in number of mergers and acquisitions to propel the market
Increase in number of mergers and acquisitions is anticipated to help the industry boost in the coming years. For instance, in December 2017, ERT acquired iCardiac Technologies, a company known for its cardiac safety services for clinical studies, just three months after it bought Biomedical Systems, which started shop in 1975 with clinical cardiac solutions. iCardiac had introduced several breakthrough innovations over the past decade, including High Precision QT and Early Precision QT methodologies.
Key benefits of the report:
- This study presents the analytical depiction of the global cardiac safety services industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global cardiac safety services market share.
- The current market is quantitatively analyzed to highlight the global cardiac safety services market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the cardiac safety services market.
- The report provides a detailed global cardiac safety services market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the cardiac safety services market research report:
- Which are the leading market players active in the cardiac safety services market?
- What would be the detailed impact of COVID-19 on the cardiac safety services market?
- What current trends would influence the cardiac safety services market in the next few years?
- What are the driving factors, restraints, and opportunities in the cardiac safety services market?
- What are the projections for the future that would help in taking further strategic steps?
Cardiac Safety Services Market Report Highlights
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Key Market Players
Biotrial ,, PhysioStim ,, ERT, Inc. ,, Banook Group,, Shanghai Medicilon Inc.,, Medpace Holdings, Inc. ,, Ncardia AG,, Bioclinica (a subsidiary of Cinven, Certara L.P. , Celerion, Inc. ,, Laboratory Corporation of America Holdings ,, Richmond Pharmacology,