Clinical trials are employed in the development and testing of vaccines and other medicines; they were critical in the COVID-19 pandemic's containment. For example, the University of Erlangen-Nürnberg Medical School began a clinical trial in August 2021 to examine the incidence of pulmonary skeletal alterations in children and adolescents with confirmed prior SARS-CoV-2 infection (LF-MRI). In the case of COVID-19, clinical trials have been essential in the development of vaccines and treatments. The Pfizer-BioNTech and Moderna vaccines, for example, were both developed through clinical trials. These vaccines have been shown to be safe and effective in preventing COVID-19.
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Data Bridge Market Research analyses that the Clinical Trial Imaging Market will grow at a CAGR of 8.10% in the forecast period of 2022 to 2029 and is expected to reach USD 1,994.62 million by 2029 from USD 1,069.68 million in 2021. Pharmaceutical and biotechnology companies are investing heavily in research and development (R&D) to develop new drugs and therapies. This is leading to an increased demand for clinical trial imaging, which is used to assess the safety and efficacy of new treatments. Pharmaceutical and biotechnology companies are increasingly outsourcing clinical trials to CROs. This is due to the high cost and complexity of running clinical trials. CROs have the expertise and resources to manage clinical trials, including clinical trial imaging.
Growing prevalence of chronic diseases is expected to drive the market's growth rate
The global population is aging, and this is leading to an increased prevalence of chronic diseases such as cancer, cardiovascular disease, and Alzheimer's disease. These diseases often require imaging for diagnosis, treatment planning, and monitoring of treatment response. There have been significant advances in imaging technology in recent years, which has led to improved accuracy and efficiency of clinical trial imaging. For example, newer imaging techniques such as PET and MRI can provide more detailed images of the body than traditional X-rays and ultrasound. This will bolster the growth of the market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014- 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Product and Services (Services and Software), Modality (Computed Tomography, Magnetic Resonance Imaging, Echocardiography, Nuclear Medicine, Positron Emission Tomography, X-ray, Ultrasound, Optical Coherence Tomography and Others), Application (Oncology, Neurology, Endocrinology, Cardiology, Dermatology, Hematology and Others), End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Medical Device Manufacturers, Academic and Government Research Institutes and Others), Distributor (Direct Sales and Tender Sales)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Navitas Life Sciences (India), Resonance Health Analytical Services (Australia), BioTelemetry (U.S.), a Philips Company (Netherlands), IXICO plc (U.K.), ICON plc (Ireland), Image Core Lab (India), anagram 4 clinical trials (Spain), Quotient Sciences (U.K.), Radiant Sage LLC (India), WORLDCARE CLINICAL (U.S.), Clario (U.S.), Paraxel International Corporation (U.S.), Median Technologies (France), Perspectum (U.K.), Calyx (U.K.)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework
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Segment Analysis:
The global clinical trial imaging market is categorized into five notable segments based on product and services, modality, application, end user, and distributor.
- Based on products and services, the market is segmented into services and software.
Services segment is expected to dominate the clinical trial imaging market
Services segment is expected to dominate the market and is expected to reach USD 763.38 million by 2030 since it provides accurate data and consulting to pharma and biotech companies about the particular clinical trial which is beneficial for the companies to launch new molecules.
- Based on modality, the market is segmented into computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray, echocardiography, nuclear medicine, optical coherence tomography, and others.
Computed tomography segment is expected to dominate the clinical trial imaging market
Computed tomography segment is expected to dominate the market and is expected to reach USD 262.374 million by 2030 due to rising number of chronic diseases.
- Based on application, the market is segmented into cardiology, neurology, endocrinology, oncology, dermatology, hematology, and others. Oncology segment is expected to dominate the market and is expected to reach USD 506.99 million by 2030 due to rising number of clinical trials for various types of cancer diseases.
- Based on end user, the market is segmented into biotechnology companies, medical device manufacturers, pharmaceutical companies, contract research organizations, academic and government research institutes, and others. Pharmaceutical & biotechnology companies segment is expected to dominate the market and is expected to reach USD 207.98 million by 2030 due to increasing number of pipeline drugs in clinical trials.
- Based on distributor, the market is segmented into direct sales and tender sales. Direct sales segment is expected to dominate the market and is expected to reach USD 607.312 million by 2030 because direct sales provide cost benefits to end users.
Major Players
Data Bridge Market Research recognizes the following companies as the major market players: Navitas Life Sciences (India), Resonance Health Analytical Services (Australia), BioTelemetry (U.S.), a Philips Company (Netherlands), IXICO plc (U.K.), ICON plc (Ireland), Image Core Lab (India), anagram 4 clinical trials (Spain), Quotient Sciences (U.K.), Radiant Sage LLC (India), WORLDCARE CLINICAL (U.S.), Clario (U.S.), Paraxel International Corporation (U.S.), Median Technologies (France), Perspectum (U.K.), Calyx (U.K.).
Market Development
- In 2022, Bruker introduced revolutionary 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets for its market-leading preclinical magnetic resonance imaging (MRI) systems range at the International Society for Magnetic Resonance in Medicine (ISMRM) 2022 conference in May.
- In 2022, Fujifilm India announced a new line of CT, MRI, and ultrasound devices in India in March. The most recent portfolio includes a wide range of technology, including computed tomography (CT), magnetic resonance imaging (MR)I, X-ray, artificial intelligence, endoscopy, and ultrasound systems via the Scenaria View, Supria series, The Echelon Smart, and Arietta series.
- In 2020, ICON plc bought MedPass International, a European medical device CRO, reimbursement, and regulatory consultant, in February. This acquisition is said to have aided ICON's expansion of medical device and diagnostic research services throughout Europe.
Regional Analysis
Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
As per Data Bridge Market Research analysis:
North America is the dominant region in the clinical trial imaging market during the forecast period 2022-2029
North America is the largest market for clinical trial imaging due to the presence of a large number of pharmaceutical and biotechnology companies, CROs, and academic institutions. The region also has a well-developed healthcare infrastructure and a large patient pool.
Asia-Pacific is estimated to be the fastest growing region in the clinical trial imaging market in the forecast period 2022-2029
Asia-Pacific is the fastest-growing market for clinical trial imaging. The region is home to a large and growing population, increasing government funding for healthcare, and rising awareness of clinical trials.
For more detailed information about the clinical trial imaging market report, click here – https://www.databridgemarketresearch.com/reports/global-clinical-trial-imaging-market
