Cardiac Safety Services Market Size, Share & Trends Analysis Report By Service (ECG/Holter Monitors, Blood Pressure Monitors), By Type (Integrated), By End-use, By Region and Segment Forecasts, 2024 - 2030

Cardiac Safety Services Market Trends

The global cardiac safety services market size was estimated at USD 870.48 million in 2023 and is projected to grow at a CAGR of 12.0% from 2024 to 2030. The market expansion is fueled by the rising prevalence of cardiovascular diseases, regulatory requirements, increasing complexity of clinical trials and the growing focus on personalized medicine.

According to the British Heart Foundation's 2024 report, approximately 620 million people worldwide are living with heart and circulatory diseases. This figure is on the rise due to a combination of changing lifestyles, and growing aging population. With these trends expected to continue, the global prevalence of cardiovascular conditions remains high, affecting about 1 in 13 individuals globally.

High-quality data collection and reporting are essential for making informed decisions throughout all phases of drug development. Accurate cardiac safety data helps identify potential risks early, optimize clinical trial designs, and ensure the safety of new therapies. The need for reliable and precise data to support regulatory submissions and gain market approvals drives demand for specialized cardiac safety services. Companies require advanced technologies and expertise to gather and analyze cardiac data effectively, leading to a robust market for these services.

Cardiovascular diseases (CVDs) remain the leading cause of mortality worldwide, contributing to a significant burden on global health systems. According to the World Heart Federation, CVDs were responsible for 20.5 million deaths in 2021, accounting for nearly a third of all global fatalities. This high prevalence creates a substantial demand for cardiac safety services as patients and healthcare providers seek to mitigate risks associated with cardiovascular interventions and treatments. As the global population ages and lifestyle-related risk factors such as obesity and diabetes become more prevalent, the need for robust cardiac safety monitoring and management systems grows.

As clinical trials become more complex, with the introduction of innovative drugs and combination therapies, the need for detailed cardiac safety assessments grows. The complexity of trial designs and the diversity of patient populations require sophisticated cardiac monitoring solutions to accurately manage and assess potential risks. This complexity drives the demand for advanced cardiac safety services that can provide comprehensive monitoring and detailed reporting.

Market Concentration &  Characteristics

Innovation is a significant driver for the global market, as advancements in technology enhance the accuracy and efficiency of cardiac monitoring.For instance, AI algorithms that analyze vast amounts of ECG data can identify arrhythmias and other cardiac issues with greater precision, improving patient safety and trial outcomes. The constant evolution of these technologies ensures that cardiac safety services remain at the forefront of clinical trial requirements.

Mergers and acquisitions (M&A) in the global market reflect the sector's dynamic nature and strategic consolidation efforts. Market participants in this industry are increasingly pursuing M&A to expand their technological capabilities, enhance service offerings, and increase market share. For instance, a primary cardiac safety service provider acquired a company specializing in advanced cardiac imaging or AI-driven analytics to integrate these technologies into their service portfolio. Such strategic acquisitions enable firms to offer more comprehensive and innovative solutions, addressing the growing demand for sophisticated cardiac safety assessments.

Regulatory agencies such as the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) impose stringent requirements for demonstrating cardiac safety in clinical trials. These agencies mandate that all new drugs and medical devices undergo rigorous cardiac safety assessments to ensure they do not harm cardiovascular health. This regulatory pressure compels pharmaceutical and biopharmaceutical companies to invest in comprehensive cardiac safety services, including monitoring, data collection, and reporting.

The regional expansion of global market is influenced by disease prevalence, healthcare infrastructure, and regulatory environments. In North America and Europe, high rates of cardiovascular disease and advanced healthcare systems drive significant market growth. In the U.S., the National Heart, Lung, and Blood Institute (NHLBI) funds research to enhance cardiovascular health. At the same time, the European Union’s Horizon Europe program supports healthcare innovation, including cardiovascular disease management. These government-backed initiatives foster advancements in cardiac safety and create opportunities for market expansion by improving healthcare infrastructure and investing in disease management.

Service Insights

Based on service, the ECG/Holter monitors segment led the market with the largest revenue share of 41.0% in 2023. Electrocardiogram (ECG) and Holter monitors are crucial tools for continuous cardiac monitoring, enabling real-time detection of arrhythmias, ischemic episodes, and other cardiovascular conditions. Their widespread adoption is mainly due to their efficacy in providing detailed and continuous heart rate data, which is essential for accurate data collection. The improved sensor accuracy, enhanced battery life, and the integration of wireless data transmission have significantly increased their utility and appeal. Innovations such as wearable ECG monitors, which offer continuous and non-invasive monitoring, are popular due to their convenience and accuracy. For instance, in October 2023, Dozee launched its advanced ambulatory monitoring system, ‘Dozee Pro Ex,’ featuring wireless wearable sensors for continuously tracking vital signs such as blood pressure, ECG rhythm, oxygen saturation, heart rate, temperature, and respiration rate. The system incorporates an AI-driven early warning mechanism that analyzes vital parameter trends and issues timely alerts for potential clinical deterioration.

The blood pressure monitors segment is anticipated to grow at a significant CAGR of 12.4% in 2023, driven by the growing prevalence of hypertension, an important risk factor for cardiovascular diseases. The World Health Organization estimates that approximately 1.28 billion adults aged 30-79 years have hypertension, highlighting a substantial market opportunity for blood pressure monitors. Blood pressure monitors are increasingly being integrated into broader cardiac safety services, which provide a holistic approach to monitoring and assessing cardiovascular health, further boosting their adoption.

Type Insights

Based on type, the integrated segment led the market with the largest revenue share of 61.0% in 2023. This prominence is primarily driven by the increasing demand for comprehensive, multi-functional cardiac monitoring solutions that offer enhanced accuracy, efficiency, and patient convenience. Integrated systems, which merge various diagnostic technologies like ECG, blood pressure monitoring, and imaging into a single platform, are increasingly favored for their ability to provide holistic cardiac assessments and streamline workflows. Innovations such as cloud-based data management, real-time analytics, and EHR interoperability further boost the appeal of integrated solutions. These advancements enable healthcare providers to access and analyze comprehensive patient data more efficiently, leading to better-informed clinical decisions.

The standalone segment is anticipated to grow at the fastest CAGR of 12.5% from 2024 to 2030. Standalone cardiac safety services, which focus specifically on monitoring and assessing cardiovascular health during clinical trials, are gaining prominence due to their specialized nature. These services are crucial for evaluating the safety of new drugs and devices, addressing specific cardiovascular risks, and ensuring comprehensive safety assessments. As clinical trials become more complex and the need for precise cardiac safety evaluations grows, standalone services are increasingly sought after. Innovations in standalone cardiac monitoring technologies, such as advanced ECG systems and real-time data analytics, enhance the capabilities and accuracy of these services. These advancements facilitate better monitoring, early detection of cardiac issues, and more reliable data collection, making standalone services more attractive to pharmaceutical companies and clinical researchers.

End-use Insights

Based on end use, the pharma & biopharma segment led the market with the largest revenue share of 44.17% in 2023. This dominant position is primarily driven by the sector's extensive involvement in developing and clinical testing cardiovascular drugs and therapies, which necessitates rigorous cardiac safety assessments. Personalized medicine approaches require detailed cardiac monitoring to tailor treatments to individual patient profiles, driving further demand for specialized cardiac safety services. In addition, technological advances, such as real-time data analytics and advanced cardiac imaging, enhance the capabilities of cardiac safety assessments, making them indispensable for pharmaceutical and biopharmaceutical companies.

The other segments, such as hospitals, healthcare providers, and diagnostic laboratories, are anticipated to grow at the fastest CAGR of 13.5% during the forecast period. This growth is driven by the rising prevalence of cardiovascular diseases and the need for advanced patient management. Hospitals and healthcare providers increasingly adopt sophisticated cardiac safety services to handle complex cardiovascular conditions more accurately. The growing emphasis on personalized medicine and tailoring treatments based on individual patient profiles further boosts the demand for cardiac safety services.

Regional Insights

North America dominated the cardiac safety services market with the largest revenue share of 63.35% in 2023, driven by several key factors. A significant contributor is the high prevalence of cardiovascular diseases (CVDs), with the American Heart Association estimating that 82.6 million people in the U.S. are affected by one or more forms of CVD. This high incidence creates a substantial demand for advanced cardiac monitoring and safety services. In addition, the U.S. benefits from a sophisticated healthcare infrastructure and considerable investments in healthcare technology. Government initiatives, such as research programs funded by the National Heart, Lung, and Blood Institute, further fuel the demand for cardiac safety services. These factors collectively enhance the market’s growth prospects in North America.

U.S. Cardiac Safety Services Market Trends

The cardiac safety services market in U.S. stands out due to its advanced healthcare infrastructure, high incidence of cardiovascular diseases, and significant investments in medical research and technology. The American Heart Association highlights that heart disease remains the leading cause of death in the U.S., driving the need for comprehensive cardiac safety solutions. They projected that more than 61.0% of American adults will have some CVD by 2050 due to obesity and unhealthy lifestyles. The FDA’s rigorous regulatory standards for cardiovascular diagnosis further ensure high safety and efficacy, fostering innovation and market expansion. Additionally, federal initiatives, such as those by the Centers for Disease Control and Prevention (CDC) aimed at enhancing heart disease prevention and control, significantly contribute to the dynamic growth of the U.S. cardiac safety services market.

Europe Cardiac Safety Services Market Trends

The cardiac safety services market in Europe is experiencing significant growth, fueled by the high prevalence of CVD and advanced medical technology. The European Society of Cardiology reports that CVDs are the leading cause of death in Europe, prompting increased investment in cardiac safety services. Moreover, the European Medicines Agency (EMA) plays a pivotal role in regulating and approving innovative cardiac treatments, accelerating market expansion by ensuring new therapies meet stringent safety and efficacy standards.

The UK cardiac safety services market is anticipated to grow at the fastest CAGR during the forecast period. The high prevalence of cardiovascular diseases and advancements in healthcare technology significantly bolster the market growth in the UK. The National Health Service (NHS) recognizes cardiovascular diseases as a significant public health challenge, prompting substantial cardiac monitoring and diagnostic services investments. According to a British Heart Foundation report from July 2022, 7.6 million individuals in the UK were affected by heart and circulatory diseases in 2021, with 4 million men and 3.6 million women impacted. The UK government's commitment to preventive healthcare and chronic disease management highlighted the demand for comprehensive cardiac safety services. This strategic focus ensures enhanced investment in and adoption of advanced technologies and services, contributing to the market's robust growth.

The cardiac safety services market in Germany is thriving due to a combination of high cardiovascular disease prevalence and a strong emphasis on healthcare innovation. Germany’s healthcare system is known for its advanced medical technology and research capabilities, supporting the development and adoption of new cardiac monitoring and diagnostic tools. The German Heart Foundation highlights that cardiovascular diseases are a leading cause of mortality in the country, prompting increased investment in cardiac safety services.

Asia Pacific Cardiac Safety Services Market Trends

The cardiac safety services market in Asia Pacific region is expanding rapidly due to the rising prevalence of cardiovascular disease and increasing healthcare investments. The World Health Organization reports that CVDs are a leading cause of death in many Asia Pacific countries, including China and India, creating a strong demand for advanced cardiac monitoring services. Government initiatives, such as the Indian government’s National Program for Prevention and Control of Cancer, Diabetes, Cardiovascular Diseases & Stroke, and China’s Healthy China 2030 initiative, also support market growth by emphasizing cardiovascular health and expanding access to advanced healthcare technologies and clinical trials.

The India cardiac safety services market is experiencing rapid growth, fueled by the increasing prevalence of cardiovascular diseases and significant investments in healthcare infrastructure. CVDs are the leading cause of death in India, as highlighted by the Indian Heart Association, which fuels the demand for advanced monitoring and diagnostic solutions. A December 2021 report by the National Institute of Health (NIH) reveals that approximately 1,500 interventional cardiologists operate across India's 4,185 Cardiac Catheterization Laboratories (CCL), reflecting a robust network of skilled professionals and state-of-the-art facilities. This extensive infrastructure amplifies the need for comprehensive cardiac safety services.

The cardiac safety services market in Australia is distinguished by its advanced healthcare infrastructure and a high focus on cardiovascular disease management. CVDs are one of the leading causes of morbidity & mortality in Australia, as reported by the Heart Foundation Australia, it is responsible for causing around 24.0% of all deaths. That means on average, around 120 people in Australia die from CVD each day. The Australian healthcare system’s emphasis on integrating cutting-edge technologies, such as advanced cardiac imaging and remote monitoring solutions, supports market growth.

Latin America Cardiac Safety Services Market Trends

The cardiac safety services market in Latin America is expanding due to increasing cardiovascular disease prevalence and improving healthcare infrastructure. Cardiovascular diseases are a significant health concern in this region, with the Pan American Health Organization highlighting their impact on public health. This region is experiencing growth in cardiac safety services as healthcare providers invest in advanced diagnostic and monitoring technologies.

The Brazil cardiac safety services market is driven by an increasing prevalence of CVDs and ongoing improvements in healthcare infrastructure. According to the Brazilian Society of Cardiology, CVDs are identified as one of the leading cause of death in Brazil, creating a strong demand for advanced monitoring and diagnostic services. The Brazilian government’s efforts to improve healthcare access and manage chronic diseases are contributing to market growth.

Middle East & Africa Cardiac Safety Services Market Trends

The cardiac safety services market in the Middle East and Africa is expanding significantly due to the rising prevalence of cardiovascular diseases and investments in healthcare infrastructure. Cardiovascular diseases are becoming increasingly prevalent in the region, driven by lifestyle changes and urbanization.

The Saudi Arabia cardiac safety services market is experiencing rapid growth due to a high prevalence of cardiovascular diseases and significant investments in healthcare infrastructure. The Saudi Ministry of Health reports that cardiovascular diseases are an essential health concern in the country, prompting increased demand for advanced cardiac monitoring and safety services. Favorable government initiatives, such as the Saudi Vision 2030 healthcare reforms, emphasize improving healthcare delivery and enhancing cardiovascular care, contributing to the market’s growth. These efforts align with the goal of advancing healthcare standards and increasing access to advanced cardiac safety solutions.

Key Cardiac Safety Services Company Insights

The market is dominated by several companies that collectively account for a significant market share. These leading players established themselves through extensive research and development efforts, resulting in the introduction of innovative services. They also expanded their service portfolios through strategic collaborations, mergers, and acquisitions. 

Recent Developments

• In May 2024, Vivalink launched a cutting-edge technology solution for Holter monitoring and Mobile Cardiac Telemetry (MCT). This innovative solution combines remote patient monitoring (RPM) technologies with advanced arrhythmia detection algorithms

• In November 2023, Wellysis signed a supply agreement with a prominent U.S. ECG service provider, facilitating the initial rollout of ‘S-Patch’ in Texas, with plans to expand to Arizona and Louisiana

• In August 2022, IDOVEN and FIFPRO entered into a strategic collaboration aimed at enhancing player health and safety by addressing heart-related risks

Cardiac Safety Services Market Report Scope

Global Cardiac Safety Services Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global cardiac safety services market report based on service, type, end-use, and region.

• Service Outlook (Revenue, USD Million, 2018 - 2030)

  • ECG/Holter Monitors

    • ECG Patch

    • Holter Monitors

  • Blood Pressure Monitors

    • Aneroid Blood Pressure Monitors

    • Digital Blood Pressure Monitors

    • Ambulatory Blood Pressure Monitors

  • Cardiovascular Imaging

    • CT

    • MRI

    • Ultrasound

    • Nuclear Medicine

    • Others

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Integrated

  • Standalone

• End-use Outlook (Revenue, USD Million, 2018 - 2030)

  • Pharma & Biopharma Companies

  • CROs

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • Denmark

    • Sweden

    • Norway

  • Asia Pacific

    • China

    • Japan

    • India

    • South Korea

    • Australia

    • Thailand

  • Latin America

    • Brazil

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • UAE

    • Kuwait