Eurofins Scientific, PPD Inc., and Koninklijke Philips N.V., dominated the Global Cardiac Safety Services Market in 2021

Global Cardiac Safety Services Market is expected to grow with the CAGR of 15.4% in the forecast period of 2022 to 2029. The years considered for study are as mentioned below.

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Global cardiac safety services market is a highly consolidated market, which includes specific number of key players. The market has witnessed increased strategic developments owing to favourable market scenario.

The major players dealing in global cardiac safety services market are introducing strong range of products provider along with launching new products and adopting strategic initiative such as acquisition, agreement, business expansion, award and recognition into the market. This helped companies to maximize the sales with enhanced product portfolio.

For instance:

  • In April 2021, IQVIA announced the acquisition of the 40% minority share of Q2 Solutions from Quest Diagnostics. This is a leading global clinical laboratory services organization that has provided the company with comprehensive testing, project management, supply chain, and consent tracking solutions for clinical trials. This has increased company’s distribution channel and sales.

Eurofins Scientific is the dominating player in the global cardiac safety services market. The other key players in the market are PPD Inc., Koninklijke Philips N.V., Certara, SGS SA, Banook, Biotrial, Nexel Co.Ltd, Richmond Pharmacology, and Celerion, among others.

Eurofins Scientific

Eurofins Scientific was founded in 1987, headquartered in Luxembourg, Germany. The company focuses on providing products and services for food, environment, pharmaceutical and cosmetic product testing, discovery pharmacology, forensics, advanced material sciences, and agroscience Contract Research services.

The company provides products via various product categories such as Chemistry, In-Vitro Assays, Safety Efficasy, ADME &Toxicology, Phenotypic Assay, and In-Vivo.

For instance,

  • In December 2022, Eurofins Scientific announced its agreement with Transgenic Inc. to acquire Genetic Lab Co., Ltd. (“G Lab”), a molecular biology-based testing provider for diagnostics, biomarker development, and drug discovery. This has increased the company’s sales and product portfolio.

The company has a wide presence across North America, Latin America, Europe, Middle East and Africa, and Asia-Pacific. The company has various subsidiaries such as "Laboratório ALAC Ltda (Brazil), Eurofins Food Testing Canada Holdings (Canada), Eurofins Testing Chile S.A. (Chile), Eurofins HOS Testing Bulgaria EOOD (Bulgaria), Eurofins Technology Service (Suzhou) Co., Ltd (China), among others.

PPD, Inc.

PPD, Inc. was founded in 1885, headquartered in North Carolina, U.S. The company focuses on providing clinical development and analytical services that drive innovation and increase drug development productivity.

The company provide products via various product categories such as Biosimilar Development, Cardiovascular, Cell and Gene Therapy, Critical Care, Dermatology, Gastroenterology, Immunology and Rheumatology, Infectious Diseases, Metabolic and Endocrine, Nephrology and Renal Diseases, Neuroscience Research, Oncology and Hematology, Ophthalmology, Pediatrics, Rare Diseases, Respiratory, Urology, Vaccine Development and Women’s Health.

For instance,

  • In December 2021, PPD Inc. announced that thermos fisher Inc. is investing in the company to expand its clinical research operations. This investment increased company sales and became a part of the global company.

The company has a presence across North America, Europe and Asia-Pacific. The company has various subsidiaries such as Belmont Research, Inc. (U.S.), CSS Informatics, Inc. (U.S.), Medical Research Laboratories International, LLC (U.S.), Piedmont Research Center, Inc. (U.S.), PPD Aeronautics, LLC (U.S.) among others

Koninklijke Philips N.V.

Koninklijke Philips N.V., Founded in the year 1891, headquarter in Amsterdam, Netherland. The company focuses on improving people’s health and well-being through meaningful innovation.

The company provides products in various product categories such as Cardiology, Critical Care, General Care, Genomics, Home Respiratory Care, Mother & Child Care, Oncology, Population Health Management, Radiology, and Sleep Apnea Care.

For instance,

  • In August 2021, Koninklijke Philips N.V., signed an agreement to acquire Cardiology, a France-based medical technology company focused on transforming cardiac diagnostics using artificial intelligence (AI) and cloud technology. This has increased company’s cardiology product portfolio and sales.

The company has a presence across Europe, North America, South America, Asia-Pacific, Middle East and Africa. The company has various subsidiaries such as Clearstone Central Laboratories GmbH (Germany), Clearstone Central Laboratories Inc (Canada), Clearstone Central Laboratories Inc. (China), Clearstone Central Laboratories Pte. Ltd. (Singapore), Clearstone Central Laboratories Inc. (U.S.), among others.