Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Cardiovascular Clinical Trials Market size was over USD 5.91 billion in 2024 and is poised to exceed USD 12.45 billion by 2037, growing at over 5.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of cardiovascular clinical trials is evaluated at USD 6.19 billion.
The growth of the market is prompted by the rising incidence of cardiac disorders like cardiac arrest, stoke, and coronary artery diseases. According to the World Heart Federation, cardiovascular diseases are ranked among the top diseases causing deaths and the global estimated deaths from cardiovascular diseases in the year 2021 were approximately 205 million. Besides, the enhancement in related government and industrial funding, along with the rising need to achieve greater cost avoidance in Phase III trials, are also driving market growth.
Cardiovascular Clinical Trials Sector: Growth Drivers and Challenges
Growth Drivers
- Rising prevalence of cardiovascular diseases - This cardiovascular clinical trials demand is rising mostly due to the rise in cardio conditions like heart failure, stroke, coronary artery diseases, etc. According to the World Health Organization, approximately 15 million people had strokes in June 2023, many of whom died and were disabled. Based on the increased prevalence of cardiovascular afflictions, there is a need for advanced cardiovascular therapy, which in turn has the urge to employ drug trials involving these diseases.
Cardiovascular clinical trials are essential in providing information on the safety, effectiveness, and possible advantages of new drug compounds, therapies, or equipment concerning cardiovascular diseases.
- Rise in contract research organizations (CRO) - There has been much recognition of CROs as realizing specialized skills and competency in cardiovascular clinical research. They purported to possess the relevant skills, infrastructure, and gadgets in the development, organization and management of sophisticated cardiovascular trials with the best results. Because of this specialized effort the corporations within the pharmaceuticals, biotechnology, and the medical device industry can contract CROs to improve their cardiovascular analysis and development.
For example, in America, there are currently 4,200 Contract Research Organizations businesses as of 2023, and this number grew by 4 percent last year in 2022. As for the CROs, they introduce operational efficiencies that make the conduct of cardiovascular clinical trials more effective and expeditiously and therefore cheaper. Many of them has created internal systems, mechanisms and global relations that allow overcoming the issues of trial management, patients’ attraction, data dealing and official paperwork.
- R&D expenditure - The pharmaceuticals enlightened promising pipeline with a staggering number of potential cardiovascular experimental drugs, ranging from preclinical, early, mid, and late phases, to post-market monitoring. The increasing number shows the need for continuing clinical trials to determine the drug’s safety and efficacy.
There are several studies conducted by the congressional budget office that has given probable approximations for the average R&D cost per new drug that range from USD 1 billion to more than USD 2 billion. The need for further cardiac and clinical trials has remained to increase the spending on R&D in cardiovascular testing has once again surged.
Challenges
- Challenges in patient recruitment and retention - Multiple problems include patients’ refusal to travel a long distance to participate in clinical trials since they are time-consuming, resulting in low recruitment and high dropout rates. Decentralized hybrid trials offer flexible processes that are more convenient and promise better retention. The subjects which traditionally have been experiencing women, minorities, and the elderly, are usually underrepresented in clinical trials.
Such barriers as; lack of access to health care, lack of knowledge about the functioning of the health care system, and low health literacy. Technological innovation and improving the reach of state and non-state institutions as well as civil-society organizations can work to counter these effects.
- Lack Of skilled professionals - Overcoming talent management challenges is a big issue for clinical research organizations (CROs). They negotiate for their products and services with other drugs and medical equipment manufacturers as well as with biotechnology companies, pharmaceutical firms, and universities for talented and experienced scientists.
These companies need to be in a position to offer handsome wages and remunerations so that they can be in a position to offer better competition to their competitors. But this can also have an impact on their revenue and returns, though, ideally for organizations that offer small clinical trials. This scarcity of qualified workforce may slow down the implementation of modern technologies and innovations and therefore limit the advancement of the cardiovascular clinical trials market in coming years.
Cardiovascular Clinical Trials Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
5.9% |
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Base Year Market Size (2024) |
USD 5.91 billion |
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Forecast Year Market Size (2037) |
USD 12.45 billion |
|
Regional Scope |
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Cardiovascular Clinical Trials Segmentation
Phase (Phase I, Phase II, Phase III, Phase IV)
Phase IV segment is set to account for more than 32% cardiovascular clinical trials market share by the end of 2037. The segment growth can be attributed to regulatory bodies such as the U.S. FDA and European Union regulatory authorities requiring post-marketing research to ensure the efficacy and safety of cardiovascular devices. Compliance with these criteria drives the conduct of Phase IV trials, boosting the segment’s growth. For instance, PubMed discovered 4,772 Phase IV trials sponsored by the National Institutes of Health, with 330 focusing solely on medication safety and 4,392 assessing both safety and efficacy. Of these trials, 8.2% were canceled or delayed.
In addition, the proliferation of patient data and advances in genomics are increasing research to investigate the benefits of incorporating global data into clinical trials. The intervention model, therapeutic specialty, and principal sponsor were all factors that influenced the use of blinding and randomization. Also, as experts across the industry say, global data are actively integrated with Phase IV clinical trials to obtain payer approvals and evaluation of clinical interventions. Hence, the aforementioned trends are expected to increase the demand for phase IV trials, thereby increasing the growth of the segment in the cardiovascular clinical trials market.
Study Design (Interventional, Observational, Expanded Access)
By 2037, interventional segment is expected to capture over 48% cardiovascular clinical trials market share. Growing interventional research, with chemical or biological including biological, behavioral, surgical techniques, and devices is set to expand the segment’s growth. In a recent study in the New England Journal of Medicine in 2022, of the 10,596 patients presenting to the emergency department with acute myocardial infarction, 7899 patients were eligible for inclusion in the trial. After excluding those who had reasons for not attending the RAPID-HF clinic, 5452 patients were enrolled in the trial (2972 in the control period, 2480 in the intervention period in the 19th century).
There has been a significant increase in the number of interventional studies developed over time. Interventional studies are generally preferred over observational studies because of their greater accuracy and relevance. Furthermore, for clinical trials of a cardiovascular device, interventional research is the gold standard, and supports, the accuracy and efficiency of the medical device under study large share of the market.
Therapeutic Area (Oncology, Cardiology, Neurology)
Cardiology dominates the segment taking 48% of the cardiovascular clinical trials market in the upcoming years. Robust growth in this segment is witnessed due to factors such as the growing incidence of CVD, the aging population globally, as well as the strategic collaboration between the pharma and biotech companies in which the latter is mainly involved in cardiovascular disease (CVD).
According to the World Heart Association Report 2023, more than half a billion people worldwide are affected by cardiovascular disease, including 20.5 million deaths by 2021, approximately one-third of global deaths, and an estimated million-person increase of 121 CVD deaths. This has led to the search for conventional drugs for the treatment of heart failure, which leads to the identification of clinical trial sites for the same.
Our in-depth analysis of the cardiovascular clinical trials market includes the following segments:
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Phase |
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Study Design |
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Therapeutic Area |
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Vishnu Nair
Head - Global Business DevelopmentCustomize this report to your requirements — connect with our consultant for personalized insights and options.
Cardiovascular Clinical Trials Industry - Regional Synopsis
North American Market Statistics
North America industry is estimated to hold largest revenue share of 34% by 2037. The region is home to several established contract research organizations (CROs) that specialize in cardiovascular clinical trials. These CROs have the expertise, infrastructure, and resources necessary to conduct highly complex cardiovascular research.
In addition, pharmaceutical companies in North America are investing heavily in research and development (R&D) to improve health care and develop new treatments. This increase in R&D expenditure drives demand for clinical trials, especially in the cardiovascular field. Moreover, the fusion of real-world data and genomic advances is increasing the demand for evaluating the value of personalized medicine. This trend is most evident in North America, where there is a strong focus on integrating real-world data with phase IV clinical trials for payer adoption and health technology research
The United States represents the largest market for clinical cardiovascular research. Cardiovascular disease (CVD) is the leading cause of death in the United States, accounting for 928,741 deaths by 2020. Due to the availability of new resources and technological changes used in clinical research, cardiovascular clinical trials are conducted in the country.
APAC Market Analysis
The Asia Pacific region will also encounter huge growth for the cardiovascular clinical trials market during the forecast period and will hold the second position. Over the past 2 decades, the number of CVD-related deaths in Asia increased from 5.6 million to 1.08 million. Approximately 39% of these CVD deaths were premature, i.e., they occurred in individuals younger than 70 years, which was significantly higher than premature CVD deaths (23%) in the US.
The expansion of independent clinics in the region is increasing the demand for cardiovascular clinical trials. Supportive regulatory developments, particularly in China and India, are making regional trials more affordable and accessible. Telemedicine and the use of wearable devices for monitoring patients undergoing clinical trials enable cost-effective and efficient management of clinical trials, thus supporting market growth. The growing elderly population of the Asia Pacific region is increasing the prevalence of cardiovascular diseases, and there is a need for clinical research.
In 2022, China accounted for 29% of global clinical trial activity, up from 17% a decade ago. Cardiovascular contributed 9% by 2022, compared with 11% over five years and 12% over 10 years.
Companies Dominating the Cardiovascular Clinical Trials Landscape
- Novartis AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Pfizer Inc.
- Bayer AG
- AstraZeneca
- AbbVie Inc.
- Johnson & Johnson Services, Inc.
- Bristol-Myers Squibb Company
- Boehringer Ingelheim International GmbH.
- Edwards Lifesciences Corporation.
- Siemens Healthineers AG
Furthermore, industries playing vital role in providing clinical trials of cardiovascular facilitating advanced technologies and AI integration to execute smooth and accurate process. Key players dominating cardiovascular clinical trials market include:
Recent Developments
- Pfizer Inc. announced that its board of directors had declared a dividend of $0.42 in the second quarter of 2024 of the company’s common stock, payable on June 14, 2024, to holders of Common Stock of record at work expires on May 10, 2024. The 2024 second quarter cash dividend will be the 342nd consecutive quarterly dividend payment by Pfizer.
- AstraZeneca announced the successful completion of an investment in Cellectis, a clinical biotechnology company. The joint investment and research agreement, announced in November 2023, will utilize Cellectis proprietary gene editing technology and design capabilities, to develop up to 10 new cell and gene therapy products for the areas of great unmet need, including oncology, immunology, and rare diseases.
- Report ID: 6125
- Published Date: Nov 27, 2024
- Report Format: PDF, PPT
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