It is expected that sales of Clinical Trial Imaging Market products would grow globally at a CAGR of 6.5%. The market for clinical trial imaging is expected to grow from its current estimated value of US$ 1.15 billion to US$ 2.17 billion by the end of the forecast period. The clinical trial imaging market refers to the use of medical imaging technology in the process of clinical trials for drug development. Medical imaging technology such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), and others are used to collect data on the safety and efficacy of new drugs being tested
The market for clinical trial imaging is expected to grow in the coming years due to increasing demand for novel therapies and drugs, and the need to develop them faster and more efficiently. This demand is driving the use of imaging in clinical trials as it provides valuable information about the drug being tested, including its effects on the body, its distribution, and its metabolism
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The clinical trial imaging market is dominated by several major players, including pharmaceutical companies, imaging contract research organizations (CROs), and imaging equipment manufacturers. These companies provide a range of services including imaging equipment rental, image analysis, and management, and clinical trial design consulting
Key Takeaways from Market Study
- The global clinical trial imaging market is expected to increase at a CAGR of 6.5% from 2023 to 2033.
- Sales of project & data management services are expected to rise at a CAGR of 7% during the forecast period.
- Global demand for operational imaging services is predicted to expand at a CAGR of 6% during the next 10 years.
- China’s market for clinical trial imaging is predicted to expand at a CAGR of 10.5% through 2033.
- United States: The US is the largest market for clinical trial imaging, owing to the presence of major pharmaceutical companies and CROs in the region. The country also has a well-developed healthcare infrastructure and favorable regulatory policies that support the growth of the market.
- Europe: Europe is another major market for clinical trial imaging, with countries such as Germany, France, and the UK leading the way. The region has a robust healthcare system and is home to many leading imaging equipment manufacturers and CROs.
- Asia-Pacific: The Asia-Pacific region is expected to grow rapidly in the coming years, driven by factors such as increasing healthcare expenditure, rising clinical trial activity, and a growing demand for innovative therapies. China, Japan, and India are some of the key markets in the region.
- Rest of the World: The rest of the world market includes regions such as Latin America, the Middle East, and Africa. The market in these regions is relatively small but is expected to grow as clinical trial activity increases in these regions.
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The leading providers of clinical trial imaging solutions are implementing new strategies to enhance business performance and profitability through the development of new products and collaborations with other market players. These market participants are expanding and improving their company’s product line by strategic initiatives including new product launches, conferences, and acquisitions, which is growing revenue share.
- Bioclinica launched the SMART technology suite with Medical Imaging, Interactive Response Technology (IRT), and Electronic Data Capture (EDC) in June 2018 to submit, manage, examine, report, and transfer medical image data that complies with global data privacy standards.
Key Companies Profiled
- Bioclinica, Inc.
- Biomedical Systems Corporation
- Biotelemetry, Inc.
- Cardiovascular Imaging Technologies, LLC
- ERT Clinical
- Icon PLC
- Image Core Lab
- Intrinsic Imaging LLC
- Ixico PLC
- Lyscaut Medical Imaging Company
- Medical Metrics
- Navitas Life Sciences
- Parexel International Corporation
- Perspectum Diagnostics
- Prism Clinical Imaging
- Quotient Sciences
- Radiant Sage LLC
- Resonance Health
- Worldcare Clinical, LLC
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More Valuable Insights on Offer
In its latest release, Fact.MR offers a frank study of the global clinical trial imaging market, including historical demand data (from 2018 to 2022) and projections for the years 2023 to 2033.
The study provides key market insights based on service (project and data management, operational imaging services, reading and analytical services, clinical trial design and consultation services, system and technology support services), application (non-alcoholic steatohepatitis, oncology, neurology, endocrinology, cardiology, dermatology, haematology), and end user (contract research organizations, biotechnology and pharmaceutical companies, medical devices manufacturers). (North America, Europe, Asia Pacific, Latin America, and MEA).