The cardiac safety services market is expected to grow from USD 442 million in 2019 to reach USD 752 million by 2024, at a CAGR of 11.2%. Market growth is largely driven by factors such as the growing R&D expenditure in the pharmaceutical & biopharmaceutical industry, increased outsourcing of R&D activities, and the increasing number of clinical trials. The introduction of new technologies & methods and growth in the biosimilars and biologics market are expected to provide a wide range of growth opportunities for players operating in this market.
North America was the largest regional market for cardiac safety services in 2018
The global market is segmented into North America, Europe, the Asia Pacific, and the RoW. In 2018, North America commanded the largest share of the market. This can be attributed to the presence of major pharmaceutical & biopharmaceutical companies and the large number of clinical trials performed in the region.
Key Market Players
The prominent players operating in this market include Biotrial (France), Banook Group (France & Canada), Bioclinica (a subsidiary of Cinven, US), Certara L.P. (US), Celerion, Inc. (US), ERT, Inc. (US), Laboratory Corporation of America Holdings (US), Medpace Holdings, Inc. (US), Ncardia AG (Belgium), Richmond Pharmacology (UK), PhysioStim (France), Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC (US), SGS S.A. (Switzerland), BioTelemetry, Inc. (US), and IQVIA (US).
Laboratory Corporation of America Holdings (US) was one of the leading players in the market in 2018. The company has pursued competitive strategies such as acquisitions and expansions in order to solidify its presence in the markets it operates in. In 2015, LabCorp acquired Covance, a prominent player in the market, thus helping the firm enter this market and expand its presence. This development has significantly helped LabCorp in tapping into new revenue streams and diversifying its economic cycle.
North America was the largest regional market for cardiac safety services in 2018
The global market is segmented into North America, Europe, the Asia Pacific, and the RoW. In 2018, North America commanded the largest share of the market. This can be attributed to the presence of major pharmaceutical & biopharmaceutical companies and the large number of clinical trials performed in the region.
Key Market Players
The prominent players operating in this market include Biotrial (France), Banook Group (France & Canada), Bioclinica (a subsidiary of Cinven, US), Certara L.P. (US), Celerion, Inc. (US), ERT, Inc. (US), Laboratory Corporation of America Holdings (US), Medpace Holdings, Inc. (US), Ncardia AG (Belgium), Richmond Pharmacology (UK), PhysioStim (France), Shanghai Medicilon Inc. (China), Pharmaceutical Product Development LLC (US), SGS S.A. (Switzerland), BioTelemetry, Inc. (US), and IQVIA (US).
Laboratory Corporation of America Holdings (US) was one of the leading players in the market in 2018. The company has pursued competitive strategies such as acquisitions and expansions in order to solidify its presence in the markets it operates in. In 2015, LabCorp acquired Covance, a prominent player in the market, thus helping the firm enter this market and expand its presence. This development has significantly helped LabCorp in tapping into new revenue streams and diversifying its economic cycle.
Comments
Post a Comment