Asia Pacific Cardiac Safety Services Market Size, Share & Industry Trends Analysis Report By Type, By End User (Pharmaceutical & Biopharmaceutical Companies and Contract Research Organizations), By Type of Service, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Asia Pacific Cardiac Safety Services Market would witness market growth of 12.0% CAGR during the forecast period (2022-2028).
Cardiac safety, especially drug-induced heart rhythm problems, continues to be a significant contributor to pipeline attrition and has led to numerous significant product recalls or label modifications. The landscape of drug research and regulatory policy is still being shaped by the possibility of experiencing this adverse event.
Over the past ten years, extensive research has helped to guide and improve drug safety testing by illuminating the underlying reasons for arrhythmias brought on by drugs. A thorough understanding of what cardiac safety tests are currently used, how these events may occur, and what opportunities there are to improve patient safety greatly help in addressing the problem of drug-induced arrhythmias.
Additionally, it also reduces the risk of discovering cardiac toxicity in later stages of product commercialization. This will enhance the understanding of medicine used to correctly tackle a disease as well as properly gauge the implications of it on a patient's health. Without a doubt, there is a critical need for research into cardiovascular adverse events, both in regard to patient safety and its effects on medication attrition, drug withdrawal, and adverse drug reactions (ADRs).
The prevention of cardiovascular disease (CVD) in Asia pacific is a significant health issue because Asia is home to half of the world's population. Asian nations and areas, including Japan, South Korea, Hong Kong, Taiwan, and the Kingdom of Thailand, are characterized by having a greater mortality and morbidity rate from stroke than from coronary heart disease (CHD). The most frequent causes of CVD in Asia are IHD and stroke, and the epidemics of these 2 conditions vary greatly amongst Asian regions and nations.
The China market dominated the Asia Pacific Cardiac Safety Services Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $86.6 Million by 2028. The Japan market is estimated to grow a CAGR of 11.3% during (2022 - 2028). Additionally, The India market would experience a CAGR of 12.7% during (2022 - 2028).
Based on Type, the market is segmented into Integrated and Standalone. Based on End User, the market is segmented into Pharmaceutical & Biopharmaceutical Companies and Contract Research Organizations. Based on Type of Service, the market is segmented into ECG/Holter Measurement, Blood Pressure Measurement, Cardiovascular Imaging, Thorough QT Studies, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Koninklijke Philips N.V., Clario, IQVIA Holdings, Inc., Laboratory Corporation of America Holdings, Pharmaceutical Product Development, Inc., SGS S.A., Banook Group, Biotrial Research SAS, Certara, Inc., and Celerion.
Scope of the Study
Market Segments Covered in the Report:
By End User
- Pharmaceutical & Biopharmaceutical Companies
- Contract Research Organizations
By Type of Service
- ECG/Holter Measurement
- Blood Pressure Measurement
- Cardiovascular Imaging
- Thorough QT Studies
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- Koninklijke Philips N.V.
- IQVIA Holdings, Inc.
- Laboratory Corporation of America Holdings
- Pharmaceutical Product Development, Inc.
- SGS S.A.
- Banook Group
- Biotrial Research SAS
- Certara, Inc.
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