Cardiovascular Clinical Trials Market Size
Cardiovascular Clinical Trials Market was around USD 5.1 billion in 2022 and is projected to grow at a CAGR of over 6.1% up to 2032, due to the rising incidence of cardiovascular diseases such as heart failure, stroke, and coronary artery diseases.
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For instance, according to the World Heart Federation, cardiovascular diseases ranked among the top causes of global mortality, causing approximately 20.5 million deaths in 2021. Similarly, as per the World Health Organization reports, around 15 million individuals are suffering from strokes in as of June 2023, with 5 million fatalities and 5 million experiencing permanent disabilities. Thus, significant rise in prevalence of cardiovascular diseases upsurged the demand for enhanced cardiovascular therapies, thereby propelling the need for drug trials targeting cardiovascular diseases.
Cardiovascular Clinical Trials Market Report Attributes
|Cardiovascular Clinical Trials Market Size in 2022:||USD 5.1 Billion|
|Forecast Period:||2023 to 2032|
|Forecast Period 2023 to 2032 CAGR:||6.1%|
|2032 Value Projection:||USD 9.2 Billion|
|Historical Data for:||2018 to 2022|
|No. of Pages:||180|
|Tables, Charts & Figures:||276|
|Segments covered:||Phase, Study design, Indication, End-use, & Region|
- Rising burden of cardiovascular diseases globally
- Increasing number of contract research organizations (CROs)
- Increasing R&D expenditure towards clinical trials
|Pitfalls & Challenges:|
- Patient recruitment and retention challenges
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Cardiovascular clinical trials refer to systematic and controlled research studies conducted to evaluate the safety, efficacy, and potential benefits of new medications, interventions, or medical devices related to cardiovascular health. These trials aim to advance medical knowledge and improve patient outcomes by investigating the prevention, diagnosis, and treatment of cardiovascular diseases such as heart failure, coronary artery diseases, and stroke. Researchers conduct these trials in phases, starting with smaller groups to assess safety and gradually progressing to larger populations to gather more comprehensive data on effectiveness and potential side effects.
The global healthcare system faced significant challenges during the COVID-19 pandemic, causing disruptions in medical research and clinical trials procedures. Also, recruiting and retaining participants in cardiovascular trials became challenging due to limited access to healthcare facilities, infection fears, and COVID-19 patient prioritization. Despite these obstacles, companies aimed to revive cardiovascular clinical trial revenues by adopting virtual methods like remote monitoring and telemedicine. This strategic shift allowed several cardiology trials to continue with the necessary modifications in data collection methods and trial protocols.
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.
Cardiovascular Clinical Trials Market Analysis
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Based on phases, the market is segmented into phase I, phase II, phase III and phase IV. The phase III led the market with the largest revenue share of 34.9% in 2022.
- Phase III trials attained dominance in the cardiovascular clinical trials market due to their pivotal role in evaluating treatment efficacy and safety before seeking regulatory approval. It involves the larger patient pool and comprehensive assessments, essential for confirming a therapy's benefits and potential risks. For instance, as per ICTRP data, more than 320 phase III studies are registered for cardiovascular clinical research, projecting considerable opportunities, and anticipating positive study outcomes in the years ahead.
- Thus, the significance of phase III trials in determining a treatment's success and subsequent market entry, coupled with their adherence to regulatory standards, solidified their prominence in shaping the landscape of market.
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Based on study designs, the cardiovascular clinical trials market is classified into interventional, observational, and expanded access. The interventional study design holds the largest share of 60.6% in the market, witnessing its dominance throughout the analysis period.
- These studies categorize interventions into drugs or biologics, behavioral, surgical procedures, and devices.
- Over time, there has been a substantial increase in conducted interventional studies, representing 75 to 80% of registered studies as of May 2022, mostly comprising drug or biologics, followed by behavioral, clinical procedure, and device interventions. Interventions are preferred for their heightened precision and relevance compared to observational studies.
- Additionally, in cardiovascular clinical trials, the medical device interventional studies are considered as the gold standard for assessing the accuracy and effectiveness of the devices under investigation, thus contributing to their significant market share.
Based on indication, the global cardiovascular clinical trials market is segmented into cerebrovascular disease, coronary artery disease, hypertensive heart disease, cardiac arrhythmia inflammatory heart disease, pulmonary arterial hypertension syndrome, ischemic heart disease, heart failure and other indications. The cerebrovascular disease segment is projected to account USD 2.3 billion by 2032.
- The dominance is attributed due to the growing number of cerebrovascular diseases. According to the National Center for Health Statistics data, one out of every six cardiovascular disease-related deaths was attributed to stroke, in 2021. Approximately 87% of all strokes are ischemic strokes, characterized by a blockage in blood flow to the brain. Stroke stands as a primary cause of enduring disabilities. Among stroke survivors aged 65 and above, more than half experience reduced mobility due to its impact.
- Thus, surge in the demand for cerebrovascular related clinical studies is expected to augment the market development.
Based on the end users, the global cardiovascular clinical trials market is segmented into biotechnology & pharmaceutical companies, medical devices manufacturers, contract research organization (CRO), and other end users. In 2022, the CROs sector held the largest market share at 49.1%.
- CROs dominate the market due to their specialized expertise, efficient trial management, and regulatory compliance. Their capability in handling diverse trial aspects, solidifies their pivotal role in advancing cardiovascular research.
- Additionally, CROs offer state-of-the-art services, making them preferred partners for the researchers, government organizations, biopharmaceutical and pharmaceutical companies seeking project outsourcing. For instance, in August 2023, Dr. Vince Clinical Research (DVCR) has formed a strategic partnership with Clario to provide cardiac assessments in clinical trials. This alliance is expected to expand access to Clario's Early Precision QT (EPQT) methodology.
- Thus, such collaboration aims to assist biopharmaceutical companies in obtaining accurate and cost-effective cardiac safety data in the initial phases of clinical development.
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In 2022, North America held the highest revenue share in the market and is poised to maintain dominance, projecting a lucrative CAGR of 5.6% throughout the analysis period.
- The region's prominence is attributed to the presence of well-established CROs with expertise in cardiovascular clinical trials, including Worldwide Clinical Trials, ICON plc, Caidya, and several others. U.S holds a leading position in the number of conducted cardiovascular clinical trials. For instance, the U.S. has recorded around 11,585 cardiovascular clinical trials on the WHO International Clinical Trials Registry Platform (ICTRP) from 1999 to 2022. The huge number of clinical studies reflects a significant volume of research activities in the country.
Cardiovascular Clinical Trials Market Share
The leading market players are actively engaging in inorganic strategic measures, such as mergers, partnerships, and acquisitions, to bolster their presence in the cardiovascular industry. ICON plc, Charles River and IQVIA account for significant market share. These companies are prioritizing strategies like outsourcing and transitioning to CROs to boost capabilities, streamline operations, and navigate regulatory challenges.
The prominent market players operating in the cardiovascular clinical trials industry is as mentioned below:
- Eli Lilly & Company
- IQVIA Inc
- Worldwide Clinical Trials
- ICON plc
- Thermo Fisher Scientific (PPD Inc)
- Syneos Health
- Medpace, Inc.
- Veeda Clinical Research
- WuXi AppTech
- Merck & Co
Cardiovascular Clinical Trial Industry News:
- In October 2023, the Icahn School of Medicine at Mount Sinai has formalized an agreement with the Chiba Institute of Technology (CIT) to jointly explore the application of artificial intelligence (AI) in cardiovascular disease research. The objective of the agreement is to enhance the efficiency of clinical trials, expedite progress in patient care, and accelerate the potential introduction of new treatments for heart patients.
- In September 2023, Cereno Scientific partnered with Clinical Trial Consultants (CTC) for the Phase I study of CS014, with CTC offering assistance in preparatory steps, such as study protocol development and the clinical trial application process in Sweden. This collaborative effort signifies a groundbreaking approach in cardiovascular clinical studies.
The cardiovascular clinical trials market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:
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By Phase, 2018 – 2032 (USD Million)
- Phase I
- Phase II
- Phase III
- Phase IV
By Study Design, 2018 – 2032 (USD Million)
- Expanded Access
By Indication, 2018 – 2032 (USD Million)
- Cerebrovascular disease
- Coronary artery disease
- Hypertensive heart disease
- Cardiac arrhythmia
- Inflammatory heart disease
- Pulmonary Arterial Hypertension Syndrome
- Ischemic heart disease
- Heart failure
- Other indications
By End-use, 2018 – 2032 (USD Million)
- Biotechnology and pharmaceutical companies
- Medical devices manufacturers
- Contract research organization (CRO)
- Other end-users
The above information is provided for the following regions and countries:
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa