North America Clinical Trial Imaging Market, By Product & 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, Hematology, Others), End User (Pharmaceutical & Biotechnology Companies, Contract Research Organization, Academic and Government Research Institutes, Others), Distributor (Direct Sales, Tender Sales), Country (U.S., Canada, Mexico) Industry Trends and Forecast to 2026
North America clinical trial imaging market is expected to gain market growth in the forecast period of 2019 to 2026. Data Bridge Market Research analyses that the market is growing with a CAGR of 6.9% in the forecast period of 2019 to 2026 and is expected to reach USD 611.90 million by 2026 from USD 357.82 million in 2018. Increasing number of contract research organization, increasing prevalence of chronic diseases and growth in the pharmaceutical and biotechnology industries are some of the factors which are aiding to the growth of the market.
Clinical trial is a process of developing new drugs. Clinical trial is designed for potential treatment and its effects on humans. Before the commercialization of new drugs, an extensive clinical testing is done in order to identify promising compounds, and safety tests are conducted to determine the possible risks.
In clinical trial, medical imaging plays a significant role for more accurate and effective results. Different imaging technologies may be used to elucidate and demonstrate the mechanistic actions of drugs. Clinical trial imaging is the process for clinical analysis and medical intervention by creating image representations of the inner parts of the body. The clinical trial medical imaging has several different technologies which are used to view the human body in order to monitor, treat and diagnose the medical conditions. For instance,
- In April 2019, IXICO PLC announced that they have done contracts with two biopharmaceutical companies for providing its imaging technology services which support study in Huntington's Disease (HD) along with phase 3 studies in one of the rare neurological disease. By this contract the company has enhanced their credibility in the market.
The rising awareness for the clinical trial imaging also increases the market value as the clinical trial imaging have repeatedly proven its high rates of effectiveness.
Currently various research studies are taking place which is expected to create a competitive advantage for manufacturers to develop new and innovative clinical trial imaging and expected to provide various other opportunities in the clinical trial imaging market. However, high implementation cost of imaging systems is expected to restraint the market growth as to get approvals is difficult.
The clinical trial imaging market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America clinical trial imaging market is segmented into five notable segments which are based on the basis of product & services, modality, application, end user and distributor.The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of product & services, the clinical trial imaging market is segmented into services and software. In 2019, services segment is expected to dominate the market 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.
- On the basis of modality, the clinical trial imaging market is segmented into computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray, echocardiography, nuclear medicine, optical coherence tomography and others. In 2019, computed tomography segment is expected to dominate the market due to rising number of chronic diseases.
- On the basis of application, the clinical trial imaging market is segmented into cardiology, neurology, endocrinology, oncology, dermatology, hematology and others. In 2019, oncology segment is expected to dominate the market due to rising number of clinical trials for various types of cancer diseases.
- On the basis of end-user, the clinical trial imaging market is segmented into contract research organization, pharmaceutical & biotechnology companies, medical device manufacturers, academic and government research institutes and others. In 2019, pharmaceutical & biotechnology companies segment is expected to dominate the market due to increasing number of pipelines drugs in clinical trials.
- On the basis of distributor, the clinical trial imaging market is segmented into direct sales and tender sales. In 2019, direct sales segment is expected to dominate the market because direct sales provide cost benefits to end users.
North America clinical trial imaging market is segmented into five notable segments which are based on product & services, modality, application, end user and distributor as referenced above.
The countries covered in clinical trial imaging market report are the U.S., Mexico and Canada.
In North America, the U.S. is dominating the North America clinical trial imaging market due to the large number of companies, R & D capabilities. North America holds major share in the clinical trial imaging market due to the presence of major market players in that region along with increasing healthcare initiatives by the government, Whereas Canada is dominating the market due to the rising prevalence of chronic diseases in the country.
- In July 2018, Resonance Health announced that their product FerriSmart have received CE Mark clearance. CE mark is a certification mark which indicates that the product is with environmental, safety, and health protection standards within the European Economic Area. After getting CE Mark clearance the company enhanced their credibility in the Europe market.
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 such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing Product Launch, Product Expansion and Acquisitions in Clinical Trial Imaging is creating new opportunities for these organizations in North America Clinical Trial Imaging Market
North America clinical trial imaging market also provides you with detailed market analysis for every country growth in sequencing industry with clinical trial imaging sales, impact of advancement in the clinical trial imaging and changes in regulatory scenarios with their support for the clinical trial imaging market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Clinical Trial Imaging Market Share Analysis
North America 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, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to clinical trial imaging market.
The major players covered in the report are BioTelemetry, Inc, IXICO plc, Resonance Health, Bioclinica, ICON plc, Radiant Sage LLC, Quotient Sciences, worldcare Clinical, Navitas Life Sciences, Cardiovascular Imaging Technologies, Intrinsic Imaging, ERT Clinical, Perspectum Diagnostics, Parexel International Corporation and among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and developments are also initiated by the companies worldwide which are also accelerating the North America clinical trial imaging market.
- In September 2017, Intrinsic Imaging awarded Pivotal Phase 2 Clinical Trial which focused on Degenerative Neuromascular Disorder. It has a great inference in medical sciences as it helped in providing service of Phase 1-4 clinical trials and medical trials involving musculoskeletal imaging. It has the most sophisticated and comprehensive management system in the industry. The award was presented because the services include site development, image processing which will perform all radiological reviews.
Partnership, acquisition and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for clinical trial imaging.
Customization Available: North America Clinical Trial Imaging Market
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