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3. Laboratory Corporation of America Holdings (US) and Medpace (US) are Leading Players in the Cardiac Safety Services Market

The cardiac safety services market is projected to reach USD 1,282 million by 2028 from an estimated USD 739 million in 2023, at a CAGR of 11.6% during the forecast period. The major factors driving the growth of this market include the rising incidence of cardiovascular diseases, increasing oursourcing of cardiac safety services related activities, large number of clinical trials pertaining to the cardiac-related issues. However, the high cost of cardiac safety evaluation services is a major factor restraining market growth to a certain extent.

The global cardiac safety services market is a consolidated with top players such as, Laboratory Corporation of America Holdings (US), Medpace (US), Koninklijke Philips N.V. (Netherlands), Clario (US), and Ncardia (Netherlands).

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Laboratory Corporation of America Holdings (US)

Laboratory Corporation of America Holdings (US) dominated the global cardiac safety services market with the largest share in 2022. Laboratory Corporation of America Holdings is a healthcare diagnostics company delivering comprehensive clinical laboratory services and complete assistance for drug development to a wide array of clients, encompassing hospitals, managed care organizations, as well as biotechnology and pharmaceutical companies. The company is a global leader in cardiac safety services market. The company operates through two key segments: LabCorp Diagnostics (Dx) and LabCorp Drug Development (DD).
The company provides cardiac safety services through its LabCorp Drug Development or DD segment. This segment delivers holistic solutions for drug development, medical device creation, and companion diagnostic development, covering the entire journey from early-stage research through clinical development to establishing market access for commercialization. The company offers standalone and integrated services for cardiac safety services market.

Medpace (US)

Medpace is a leading provider of standalone & integrated solutions for the Pharmaceutical and biopharmaceutical industry. The company operates through six divisions: includes oncology, metabolic, cardiology, central nervous system, AVAI, and others. The company It offers a diversified range of services for clinical development processes, such as medical affairs, clinical trial management, clinical monitoring, pharmacovigilance, biometric activities, regulatory affairs, medical writing, core laboratory, central laboratory, and bioanalytical laboratory services (to support the entire clinical development process from phase I to phase IV).

The company is well-established in the cardiac safety services market. The cardiovascular team of the company effectively plans and conducts studies for drug/device and cardiac safety. It also efficiently conducts cardiovascular trials that demand rigorous safety requirements. Medpace has a global presence through offices across Europe, North America, Asia Pacific, South   Africa, and Latin America.

Koninklijke Philips N.V (Netherlands)

Koninklijke Philips N.V. is the parent company of the Royal Philips Group. The company focuses on improving healthcare through meaningful innovation. The company’s reportable segments include are Diagnosis & Treatment businesses, Connected Care businesses, and Personal Health businesses.

The company offers cardiac safety services through its connected care business segment. The company offers cardiac safety services through its Connected Care business segment. The segment is further subdivided into Hospital Patient Monitoring, Emergency Care, Sleep and respiratory Care, and Connected Care Informatics. In 2021, Philips acquired BioTelemetry, Inc., medical technology company specializing in remote cardiac monitoring, remote blood glucose monitoring, centralized core laboratory services for clinical trials, and original equipment manufacturing for healthcare and clinical research customers. BioTelemetry focuses on patient care management through a suite of cardiac diagnostic and monitoring solutions to identify heart rhythm disorders supported by Artificial Intelligence algorithms.

Clario (US)

In 2021, ERT and Bioclinica merged to become Clario creating the broadest endpoint technology platform in the industry and enhancing our scientific expertise. Clario is the seasoned clinical trial data management company. Clario has completed more than 19,000 clinical trials and contributed to 870 regulatory approvals. Clario supported 70% of all US FDA approvals. Clario has helped more than 800 new drugs come to market. The company has around 50 years of experience, It has presence over 100+ countries across the globe.

The company offers solutions such as eCOA solutions, artificial intelligence, cardiac safety solutions, medical imaging solutions, respiratory solutions, trial enablement, and decentralized trials. Clario provides cardiac safety services such as arrythmia analysis, blood pressure services, ECG – Phase I through IV, Phase I/TQT cardiac assessment, and regulatory consultation and statistical analysis expertise.

Ncardia (Netherlands)

Ncardia is a stem cell drug discovery and development company. Ncardia provides advanced technology, right solutions: disease modeling, large-scale manufacturing, assay development and screening. The company operates in Europe, North America and Asia Pacific region.

The company has collaborated with a broad array of clients to forge ahead their drug discovery programs for cardiovascular and neurological diseases. Ncardia develops and delivers integrated cardiovascular services to enhance the assessment of cardiac safety and toxicity of drug candidates. The company’s services are based on fully functional and validated hiPSC-derived cell models manufactured under strict quality assurance. The company provides calcium transcients assays and contractility assays to support  a better understanding of compound efficacy, safety, and toxicity. In January 2020, Ncardia and BlueRock Therapeutics collaborated to license process development technologies for the manufacturing of iPSC-derived Cardiomyocytes.

Related Reports:

Cardiac Safety Services Market by Type (Standalone, Integrated), Services (ECG/Holter Measurement, Blood Pressure Measurement, Cardiac Imaging, Thorough QT Studies), End User (Pharmaceutical & Biopharma, CROs), Region - Global Forecast to 2028

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