Cardiac safety services play a critical role in pharmaceutical clinical trials by evaluating and monitoring the cardiovascular effects of investigational drugs. These services involve conducting electrocardiograms (ECGs), assessing cardiac biomarkers, and interpreting data to ensure the safety and efficacy of treatments. By rigorously evaluating cardiac safety profiles, service providers help pharmaceutical companies comply with regulatory requirements and minimize risks to patient health. This comprehensive approach aids in determining the drug's potential impact on the cardiovascular system and enhances the overall success and reliability of clinical trials by mitigating cardiac-related concerns early in the drug development process.
The Global Cardiac Safety Services Market is expected to grow at a CAGR of 15.40% during the forecast period 2022 to 2029.
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Below are the Top Cardiac Safety Services companies with a Significant Market Share:
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Rank
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Company
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Overview
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Product Portfolio
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Sales Geographical Coverage
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Developments
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1.
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Eurofins Scientific
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Eurofins Scientific offers comprehensive services in the cardiac safety market, including ECG assessments, QT interval analysis, and cardiac risk assessment. They provide robust scientific expertise and regulatory compliance support for pharmaceutical companies conducting clinical trials.
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Latin America, North America, Europe, Middle East and Africa, Oceania, and Asia
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In December 2022, Eurofins Scientific announced their agreement with Transgenic Inc. to acquire Genetic Lab Co., Ltd. (“G Lab”), a molecular biology-based testing provider for diagnostics, biomarker development, and drug discovery. This has increased the company’s sales and product portfolio.
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2.
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PPD Inc.
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PPD is a global contract research organization (CRO) that offers extensive cardiac safety services. They specialize in conducting ECG evaluations, cardiac safety studies, and QT/QTc interval assessments. PPD's expertise in managing clinical trials ensures thorough evaluation of cardiovascular risks associated with new therapies.
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North America, Europe, and Asia-Pacific
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In December 2021, PPD Inc., announced that Thermos Fisher Inc. is investing in the company to expand its clinical research operations. This investment had increases company sales and be a part of global level company.
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3.
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Koninklijke Philips N.V.
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Philips provides advanced healthcare technology solutions that include cardiac monitoring systems and diagnostic imaging equipment. Their cardiac safety services focus on innovative ECG technologies, remote monitoring solutions, and data analytics to support clinical decision-making and patient management.
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Europe, South America, Middle East and Africa, North America, and Asia-Pacific
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In August 2021, Koninklijke Philips N.V., announced that it has signed an agreement to acquire Cardiologs, a France-based medical technology company focused on transforming cardiac diagnostics using artificial intelligence (AI) and cloud technology. This has increased the company’s cardiology product portfolio and sales.
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4.
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IQVIA
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IQVIA offers comprehensive cardiac safety services as part of their clinical development and commercialization solutions. They provide ECG core laboratory services, QT interval analysis, and cardiac safety assessments to ensure regulatory compliance and patient safety throughout the drug development lifecycle.
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Assesement Services
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Europe, Middle East and Africa, Latin America, North America, Oceania, and Asia
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In April 2021, IQVIA announced the acquisition of the 40 percent minority share of Q2 Solutions from Quest Diagnostics. This is a leading global clinical laboratory services organization that has provided the company with comprehensive testing, project management, supply chain, and consent tracking solutions for clinical trials. This has increased company’s distribution channel and sales.
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5.
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Laboratory Corporation of America Holdings
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Labcorp's Drug Development division offers specialized cardiac safety services, including ECG testing, biomarker analysis, and cardiovascular risk assessments. They provide integrated solutions for pharmaceutical companies to evaluate and mitigate cardiovascular risks associated with new drugs and therapies.
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Europe, Middle East and Africa, North America, South America, and Asia-Pacific
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In February 2022, Laboratory Corporation of America Holdings announced the opening of a new diagnostics laboratory in South Bend, Indiana, allowing the company to enhance service levels and offerings to patients and physicians in South Bend and throughout the region.
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Conclusion
The cardiac safety services market is supported by leading companies such as Eurofins Scientific, PPD Inc., Koninklijke Philips N.V., IQVIA, and Laboratory Corporation of America Holdings (Labcorp). Each company contributes distinct expertise in ECG assessments, QT interval analysis, and overall cardiac risk management essential for pharmaceutical clinical trials. Their comprehensive services ensure compliance with rigorous regulatory standards and enhance the safety and efficacy evaluation of new therapies. With a focus on advanced technology, scientific rigor, and global reach, these firms play a pivotal role in safeguarding patient health while advancing innovations in cardiac safety within the pharmaceutical industry.
