Cardiovascular Clinical Trials Industry
The global cardiovascular clinical trials market size is expected to reach USD 8.41 billion by 2030, registering a CAGR of 6.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. The market's growth is majorly due to the increasing prevalence of cardiovascular diseases such as heart failure, stroke, and coronary artery diseases. Furthermore, the persistent advancements in medical research, including personalized medicine and genomics, fuel the need for clinical trials to investigate novel strategies and therapies. In addition, technological innovations in clinical research, such as the adoption of virtual clinical trials and remote monitoring of clinical trial patients, facilitate more cost-effective and efficient clinical trial management, thus supporting the growth of the market.
The market is fragmented, with several players having similar technological and processing capabilities. Several contract research organizations are penetrating the space of cardiovascular clinical trials. Moreover, these companies are focusing on innovating cardiovascular treatment therapies with experimentation over novel compounds. These players focus on partnerships and collaborations with bio-pharmaceutical companies to enhance their market presence. For instance, in August 2023, Dr. Vince Clinical Research (DVCR); a clinical research organization, announced a strategic alliance with Clario for delivering cardiac assessments in clinical trials.
Furthermore, the globalization of clinical trials is another significant factor supporting the market's growth. For instance, in May 2022, according to the clinical trials arena, the involvement of Western commercial companies in trials run in China has grown gradually from around 100 trials per year in 2010 to around 350 trials in 2021. Hence, this is one of the primary factors supporting the market growth during the forecast period.
The COVID-19 pandemic negatively impacted the market. The initial phase of the COVID-19 pandemic has significantly affected clinical trials due to travel restrictions, including trials involving cardiovascular indications. However, the market recovered by adopting novel trial methods such as virtual and decentralized clinical trials.
Gather more insights about the market drivers, restrains and growth of the Global Cardiovascular Clinical Trials market
Cardiovascular Clinical Trials Market Segments Highlights:
- Based on phase, the Phase IV segment accounted for the largest share of 34.3% in 2022. The segment is driven by the growing demand for novel therapeutics and the incorporation of real-world data for enhanced assessment of the post-marketing surveillance process
- Based on the study design, the interventional segment accounted for the largest share of 64.8% in 2022. High segment shares are majorly due to the growing pipeline of cardiovascular therapeutics under controlled interventional clinical trials
- Based on indication, the stroke segment is anticipated to witness the highest CAGR of 6.9% across the analysis timeframe due to the increasing prevalence rate of the condition globally and the surge in the need for innovative stroke treatment therapies
- Asia Pacific is anticipated to witness the highest CAGR of 6.8% during the forecast time frame. High growth is primarily due to the increasing number of Western pharmaceutical companies outsourcing their manufacturing activities to developing economies such as China and India
Cardiovascular Clinical Trials Market Report Segmentation
Grand View Research has segmented the global cardiovascular clinical trials market based on phase, study design, indication, and region:
Cardiovascular Clinical Trials Phase Outlook (Revenue, USD Million, 2018 - 2030)
- Phase I
- Phase II
- Phase III
- Phase IV
Cardiovascular Clinical Trials Study Design Outlook (Revenue, USD Million, 2018 - 2030)
- Interventional
- Observational
- Expanded Access
Cardiovascular Clinical Trials Indication Outlook (Revenue, USD Million, 2018 - 2030)
- Acute Coronary Syndrome
- Coronary Artery Disease
- Ischemic Heart Disease
- Pulmonary Arterial Hypertension
- Stroke
- Cardiac Arrhythmias
- Heart Failure
- Others
Cardiovascular Clinical Trials Regional Outlook (Revenue, USD Million, 2018 - 2030)
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Thailand
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Kuwait
Key Cardiovascular Clinical Trials Company Insights
- IQVIA Inc
- ICON plc
- SGS SA
- Eli Lilly and Company
- PPD Inc
- Syneos Health
- Caidya
- Worldwide Clinical Trials
- Vial
- Veeda Clinical Research
- Medpace, Inc.
Order a free sample PDF of the Cardiovascular Clinical Trials Market Intelligence Study, published by Grand View Research.
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