The global clinical trial imaging market is poised for growth due to several positive factors. The increasing demand for imaging technology in clinical trials enables more accurate diagnosis, disease monitoring, and evaluation of treatment efficacy. The rise in the prevalence of chronic diseases, particularly among the elderly, necessitates advanced imaging modalities for early detection and effective management. It plays a crucial role in various aspects of clinical trials, including patient recruitment, diagnosis, treatment evaluation, and safety monitoring. Clinical trial imaging enables researchers to visualize and analyze biological processes, disease progression, and treatment response, providing valuable insights for drug development and medical advancements.
According to Data Bridge Market Research, the Global Clinical Trial Imaging Market is expected to reach the value at a CAGR of 8.1% during the forecast period of 2022 to 2029.
"Rising R&D expenditure surge market demand"
Pharma and imaging companies continually invest in R&D to expand their market share and provide customers with cutting-edge services for clinical trial imaging. Clinical advancement is dynamically influenced by medical imaging. The pharmaceutical and imaging industries continue to grow, whereas the medical imaging industry is constantly fluctuating due to the introduction of new technologies to the market. The adoption of innovative imaging technologies to support clinical trials for medical devices, increased investment in medical imaging companies, mergers and acquisitions, and other factors are all credited with this. Thus, market expansion is being fueled by rising R&D spending by pharmaceutical and biotechnology companies.
What restraints the growth of the global clinical trial imaging market?
“High cost can impede the market growth”
The high costs associated with clinical trial imaging significantly restrain the market. The need for specialized imaging equipment, advanced technologies, and trained professionals drives up expenses. These costs can be prohibitive for small or budget-constrained clinical trials, limiting their access to imaging services. Finding cost-effective solutions and exploring alternative imaging techniques that offer comparable results at lower costs is crucial to addressing this restraint and ensuring wider accessibility to imaging services for all clinical trials .
Segmentation: Global Clinical Trial Imaging Market
The clinical trial imaging market is segmented on the basis of product and services, modality, application, end user and distributor.
- On the basis of product and services, the market is segmented into services and software.
- On the basis of modality, the market is segmented into computed tomography, magnetic resonance imaging, echocardiography, nuclear medicine, positron emission tomography, X-ray, ultrasound, optical coherence tomography, and others.
- On the basis of application, the market is segmented into oncology, neurology, cardiology, endocrinology, dermatology, hematology, and others.
- On the basis of end user, the market is segmented into contract research organizations, pharmaceutical and biotechnology companies, medical device manufacturers, academic and government research institutes, and others.
- On the basis of distributor, the market is segmented into direct sales and tender sales.
Regional Insights: North America dominates the global clinical trial imaging market
The U.S. dominates the North America region in the field of clinical trials and imaging modalities for several reasons. The country offers better reimbursement options for physician providers, which incentivizes clinical research. Additionally, there is a significant increase in research and development expenditure, fostering innovation and advancements in imaging technologies. A higher number of Contract Research Organizations (CROs) further facilitates access to improved imaging modalities, making the U.S. a key player in the region's clinical trial landscape.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/global-clinical-trial-imaging-market
Recent Developments in Global Clinical Trial Imaging Market
- In 2022, In order to provide PET imaging clinical trials for evaluating novel therapeutics in China, Clario partnered with XingImaging, a radiopharmaceutical production and Positron Emission Tomography (PET) acquisition company. For the purpose of accelerating the beginning of clinical trials and drug discovery in China, the partnership offers to share the combined resources and neuroscience specialists of Clario and XingImaging.
- In 2021, there is now a Clario. Together, ERT and Bioclinica became Clario. The distribution of clinical imaging software and services, along with an increase in sales, were outcomes of the establishment of the new business.
The Prominent Key Players Operating in the Global Clinical Trial Imaging Market Include:
- Navitas Life Sciences (U.S.)
- Resonance Health Analytical Services (Australia)
- BioTelemetry, a Philips Company (U.S.)
- IXICO plc (U.K.)
- ICON plc (Ireland)
- Image Core Lab (U.S.)
- Anagram 4 Clinical Trials (U.K.)
- Quotient Sciences (U.K.)
- Radiant Sage LLC (U.S.)
- WORLDCARE CLINICAL (U.S.)
- Clario (U.S.)
- Parexel International Corporation (U.S.)
- Median Technologies (France)
- Perspectum (U.K.)
- Calyx (U.S.)
- WIRB-Copernicus Group (U.S.)
- Invicro.LLC (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global clinical trial imaging market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Clinical Trial Imaging Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
