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Cardiovascular Clinical Trials Market Trends

Report ID: GMI7404
Published Date: Nov 2023
Report Format: PDF

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Cardiovascular Clinical Trials Market Trends

The proliferation of cardiovascular clinical trials expects to explore the cutting-edge treatments and therapy solutions contributing towards the market expansion. For instance, Mayo Clinic is conducting a clinical trial on superficial cervical plexus block for pacemaker insertion, aiming to evaluate clinical outcomes. Therefore, addressing the essential shifts to ease the burden of cardiovascular diseases, requires continuous awareness and advocacy, anticipating market opportunities for the stakeholders in the market.

The companies and organizations are actively focusing on enhancing their capabilities and escalate research activities by collaborations.

For instance, in 2020, the Heart Foundation in collaboration with the New South Wales (NSW) Government and Umbrella Organizations, the Cardiovascular Research Network (CVRN) secured a three-year funding agreement with the NSW Health Office of Health and Medical Research. This funding sustains the network's management, aiming to enhance cardiovascular disease research capacity in NSW.

In addition to the aforementioned factors, the market anticipates the remarkable growth due to increased demand for personalized medicine, clinical trial expansion, and the expansion of pharmaceutical and biotechnology sectors.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Cardiovascular clinical trials industry size was USD 5.1 billion in 2022 and is expected to reach USD 9.2 billion by 2032 due to the rising incidence of cardiovascular diseases, such as heart failure, stroke, and coronary artery diseases worldwide.

The phase III segment held 34.9% share of the cardiovascular clinical trials industry in 2022 and is expected to register appreciable CAGR from 2023-2032 on account of their pivotal role in evaluating treatment efficacy and safety before seeking regulatory approval.

North America cardiovascular clinical trials industry is expected to register 5.6% CAGR from 2023-2032 due to the presence of well-established CROs with expertise in cardiovascular clinical trials, including Worldwide Clinical Trials, ICON plc, Caidya, and several others in the region.

Eli Lilly & Company, IQVIA Inc, Worldwide Clinical Trials, ICON plc, Thermo Fisher Scientific (PPD Inc), Syneos Health, Medpace, Inc., Veeda Clinical Research, and WuXi AppTech are some of the major cardiovascular clinical trials companies worldwide.