The global cardiovascular clinical trials market is anticipated to reflect a substantial growth rate across the forecast period. The key factors driving the growth of the market are the increasing prevalence of cardiovascular diseases such as stroke, heart failure, and coronary artery diseases. Also, rising investment by the government & industry, and increasing demand of reducing the cost of trials in phase III are also contributing to the market growth. For instance, according to a WHO report in 2021, cardiovascular diseases remain the leading cause of mortality globally. According to estimates, 17.9 million people died from CVDs in 2019, with low- and middle-income countries accounted for the majority of such deaths.
The covid-19 pandemic had global repercussions for research & healthcare. In 2020, most of non covid-19 research were halted & hindered. Despite these challenges, the AHA, the largest non-profit & non-governmental sponsor of cardiovascular research in the U.S. is funding 1500–2000 research grants with a combined value of about USD 500 million. In addition, the majority of researchers stated that the pandemic had either a moderate (30.2%) or significant (43.9%) impact on their AHA-funded research, and 3.6% stated that it had completely stopped.
Based on phase, the phase III segment has held a substantial share in the cardiovascular clinical trials market. This is largely due to the cost of clinical trials and it involves huge subjects. The median cost of phase III clinical trials is around USD 22.8 million.Also, Phase III requires a higher number of patients and often a longer treatment period. According to clinicaltrials.gov, there are over 830 cardiovascular clinical trials in phase III listed on clinicaltrails.gov as of January 2023.
North America is anticipated to hold the highest market share over the forecast period owing to factors such as increase in R&D investments, increasing prevalence of cardiovascular diseases. For instance, the most of the registered clinical trials and research date are originated from the U.S. from 2001 to 2025. According to Clinicaltrials.gov, in 2022, there are 4,058 cardiovascular clinical trials performed in the U.S.
The key global industry players across the cardiovascular clinical trials market include Medpace, IQVIA, ICON Plc, Charles River Laboratories Inc., Wuxi App Tec, Laboratory Corporation of America Holdings, PAREXEL International Corporation, SGS SA, Eli Lilly and Company, Pharmaceutical Product Development, LLC, Pfizer, Caidya.
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
Leading SME award by D&B
"The quality of research they have done for us has been excellent."
We value your investment and offer free customization with every report to fulfil your exact research needs.