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Global Clinical Trial Imaging Market – Industry Trends and Forecast to 2029

  • Healthcare
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Clinical Trial Imaging Market, By Product and Services (Services, Software), Modality (Computed Tomography, Magnetic Resonance Imaging, Echocardiography, Nuclear Medicine, Positron Emission Tomography, X-Ray, Ultrasound, Optical Coherence Tomography, Others), Application (Oncology, Neurology, Endocrinology, Cardiology, Dermatology, Haematology, Others), End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic and Government Research Institutes, Medical Device Manufacturers, Others), Distribution Channel (Direct Sales, Tender Sales) – Industry Trends and Forecast to 2029.

Clinical Trial Imaging Market

Global Clinical Trial Imaging Market Analysis and Size

There has been surging research and development procedure especially in pharmaceutical and biotechnology industries. The pharmaceutical and biotechnology industries have largely expanded themselves over the years. The increased expenditure for research and development by in pharmaceutical and biotechnology industries to develop new drugs and therapies to treat chronic diseases has largely influenced the market is growth over the forecasted period.

  • Global clinical trial imaging market was valued at USD 1.0 billion in 2021 and is expected to reach USD 1.86 billion by 2029, registering a CAGR of 8.1% during the forecast period of 2022-2029. The "oncology" accounts for the largest application segment in the clinical trial imaging market, owing to the increase in research and development spending and growth in pharmaceutical and biotechnology industries within the forecasted period. 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.

Global Clinical Trial Imaging Market Definition

A clinical trial is a crucial phase in the development of a pharmacological medicine. The clinical trial imaging technology has helped to lower the cost of drug trials. Medical imaging is a critical component in the development of novel life science medications in the clinic. The picture quality has a significant influence on the overall performance of the compound. Clinical trial imaging is used to identify and diagnose a wide range of disorders. The technology aids in the interpretation of human physiology, which leads to the development of illness prevention strategies.

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

Product and Services (Services, Software), Modality (Computed Tomography, Magnetic Resonance Imaging, Echocardiography, Nuclear Medicine, Positron Emission Tomography, X-Ray, Ultrasound, Optical Coherence Tomography, Others), Application (Oncology, Neurology, Endocrinology, Cardiology, Dermatology, Haematology, Others), End User (Pharmaceutical and Biotechnology Companies, Contract Research Organizations, Academic and Government Research Institutes, Medical Device Manufacturers, Others), Distribution Channel (Direct Sales, Tender Sales)

Countries Covered

U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East and Africa

Market Players Covered

ICON plc. (Ireland), BioTelemetry. (US), Medpace (US), IXICO plc. (UK), Resonance Health (Australia), Radiant Sage LLC. (US), Clario. (US), Intrinsic Imaging LLC. (US), Cardiovascular Imaging Technologies (US), Medical Metrics (US), Prism Clinical Imaging, (US), Boston Imaging Core Lab (US), anagram 4 clinical trials (Spain), Calyx Group (India), Bioseptive Inc. (Canada), ProScan Imaging (US),  Micron Technology, Inc., (Japan), Imaging Endpoints (US), Perspectum (UK), Pharmtrace (Germany), WorldCare Clinical (US)

Clinical Trial Imaging Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Growing Research Activities and Advancements

Pharmaceutical and biotechnology companies across the globe basically invest heavily in research to develop breakthrough molecules. The increased spending for research and development are estimated to generate lucrative opportunities for the market. The surging focus on life science projects to develop new therapeutic and diagnostic products will further expand the clinical trial imaging market's growth rate in the future.

Furthermore, the increasing number of pharmaceutical and biotechnological industries, development of cloud-based platform simplifying the process of image sharing, and the increment in various diseases are also expected to fuel market growth. Integration of artificial intelligence (AI) to minimize errors and maximize efficiency will also foster the market's growth. Moreover, the increasing number of contract research organizations and strong trend of commercialization of life science research also cushion the market's growth within the forecasted period.

Restraints/Challenges Global Clinical Trial Imaging Market

  • High Costs

The cost of implementing the imaging system basically includes costs related to procuring, housing and maintaining and maintenance costs, which is expected to obstruct market growth. Moreover, conducting a clinical trial is a very expensive process, will also hinder market growth.

Also, the data security and privacy issues and the possibility of misusing the images obtained for studies are projected to challenge the clinical trial imaging market in the forecast period of 2022-2029.

Opportunities

  • Increasing Funding Activities

The surging research and development funding across developing countries such as India, South Korea, Brazil, and Mexico offer various lucrative growth opportunities to players within the clinical trial imaging market.

Moreover, the presence of various CROs that offer drug discovery services to pharmaceutical and biotechnology companies along with the significant developments in life sciences research are also projected to generate growth opportunities for the market.

This clinical trial imaging market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the clinical trial imaging market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post Covid-19 Impact on Clinical Trial Imaging Market

Healthcare industry was largely impacted by the outbreak of COVID-19. The clinical trial imaging market does not stand back as it was also adversely affected by it. The consumer demand was decreased the focused was towards removing non-essential costs from the budgets as the overall economic situation of most people has been badly impacted by the epidemic. The imposition of the lockdown and social distancing restrictions by the governing authorities to curb the COVID-19 pandemic outbreak, led to halt of various operations, which limited the expansion of the industry. However, on the brighter side, the restrictions by governing authorities are likely to relax which will help market to recover.

Recent Developments

  • In January 2021, Bioclinica announced the release of Image Redact AI, a new product that will support the redaction of sensitive patient information from videos, photos, and PDFs in clinical trials. Bioclinica is an integrated solutions provider of clinical life science and technology expertise.
  • On January 2021, Bioclinica acquired Silicon Valley-based Saliency. Bioclinica will integrate the company's advanced AI technology into its Imaging Platform to support a growing portfolio of pharmaceutical and medical device clients. The integration will dramatically accelerate image QC and interpretation, enabling rapid development of digital diagnostics and digital therapeutics. These newly developed models may then be utilised to reliably and quickly filter, redact, or analyse medical pictures in a variety of therapeutic domains. In compliance with EU GDPR and other privacy standards, this feature will be built into Bioclinica's present and future imaging systems.

Global Clinical Trial Imaging Market Scope

The clinical trial imaging market is segmented on the basis of product and services, modality, application, end user and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product and Services

  • Services
  • Software

On the basis of product and services, the clinical trial imaging market is segmented into services, software.

Modality

  • Computed Tomography
  • Magnetic Resonance Imaging
  • Echocardiography
  • Nuclear Medicine
  • Positron Emission Tomography
  • X-Ray
  • Ultrasound
  • Optical Coherence Tomography
  • Others

On the basis of modality, the clinical trial imaging market is segmented into 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
  • Haematology
  • Others

On the basis of application, the clinical trial imaging market is segmented into oncology, neurology, endocrinology, cardiology, dermatology, haematology and others. Oncology accounts for the largest market share owing to the increase in research and development spending and growth in pharmaceutical and biotechnology industries within forecasted period.

End User

  • Pharmaceutical and Biotechnology Companies
  • Contract Research Organizations
  • Academic and Government Research Institutes
  • Medical Device Manufacturers
  • Others

On the basis of end user, the clinical trial imaging market is segmented into pharmaceutical and biotechnology companies, contract research organizations, academic and government research institutes, medical device manufacturers and others.

Distribution Channel

  • Direct Sales
  • Tender Sales

On the basis of distribution channel, the clinical trial imaging market is segmented into direct sales and tender sales.

Clinical Trial Imaging Market Regional Analysis/Insights

The clinical trial imaging market is analyzed and market size insights and trends are provided by country, product and services, modality, application, end user and distribution channel as referenced above.

The countries covered in the clinical trial imaging 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.

North America dominates the clinical trial imaging market because of the increased research and development expenditure, rising number of CROs, and growth in pharmaceutical and biotechnology industries within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to the increasing cases of the chronic diseases and high need for better diagnostic devices along with rising demand for specialized and quality healthcare facilities within the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The clinical trial imaging market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for clinical trial imaging market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the clinical trial imaging market. The data is available for historic period 2010-2020.

Competitive Landscape and Clinical Trial Imaging Market Share Analysis

The clinical trial imaging market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to clinical trial imaging market.

Some of the major players operating in the clinical trial imaging market are ICON plc. (Ireland), BioTelemetry. (US), Medpace (US), IXICO plc. (UK), Resonance Health (Australia), Radiant Sage LLC. (US), Clario. (US), Intrinsic Imaging LLC. (US), Cardiovascular Imaging Technologies (US), Medical Metrics (US), Prism Clinical Imaging, (US), Boston Imaging Core Lab (US), anagram 4 clinical trials (Spain), Calyx Group (India), Bioseptive Inc. (Canada), ProScan Imaging (US),  Micron Technology, Inc., (Japan), Imaging Endpoints (US), Perspectum (UK), Pharmtrace (Germany), WorldCare Clinical (US) among others.

Research Methodology : Global Clinical Trial Imaging Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

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 versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-clinical-trial-imaging-market

Customization Available : Global Clinical Trial Imaging Market

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The Clinical Trial Imaging Market is Expected to Show a Value of USD 1.86 billion by 2029.
The Clinical Trial Imaging Market is Estimated to Register a CAGR of 8.1% Within the Forecast Period by 2029.
The Factor Such as Strong Trend of Commercialization of Life Science Research, Integration of Artificial Intelligence (AI) to Minimize Errors and Maximize Efficiency and Increased Spending for Research and Development are the Major Drivers for the Clinical Trial Imaging Market.
The Major Companies Operating in the Clinical Trial Imaging Market are ICON plc. (Ireland), BioTelemetry. (US), Medpace (US), IXICO plc. (UK), Resonance Health (Australia), Radiant Sage LLC. (US), Clario. (US), Intrinsic Imaging LLC. (US) and Cardiovascular Imaging Technologies (US).
The Countries Covered in the Clinical Trial Imaging 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.