Clinical Trial Imaging Market Grow by USD 2,219.8 Mn by 2032 | Growth Driven by Growing Demand For Computed Tomography

Prominent pharmaceutical and healthcare enterprises are making substantial investments in the research and development of novel drug compounds to address emerging diseases, thus driving the market demand for clinical trial imaging.


New York, Sept. 11, 2023 (GLOBE NEWSWIRE) -- According to Market.us, the Global Clinical Trial Imaging Market size is likely to top a valuation of US$ 2,219.8 Million by 2032 from USD  1,067.3 million in 2022 and it is poised to reach a CAGR of 7.8% from 2023 to 2032.

Clinical trial imaging is a research study that is conducted by various organizations, with many volunteers taking part in these trials for benefits. Clinical trial imaging aims to answer some specific questions related to diseases and the treatment of the diseases. A clinical trial involves diagnosing, monitoring, detecting, and guiding the treatment of various diseases. Clinical trial imaging includes the use of many imaging technologies like ultrasound, X-ray, MRI, CT-Scan, ECG, and many other technologies. These medical devices allow the trial-conducting organizations to perform trials under non-invasiveness and early detection of outcomes.

Don't miss out on business opportunities | Get sample pages at https://market.us/report/clinical-trial-imaging-market/request-sample/

Clinical Trial Imaging Market size

Short on time? Here are the highlights:

  • By Service, project and data management dominated the market with a major share of 28.6% in the account.
  • By Modality, computed tomography held the largest share in the global clinical trial imaging market.
  • By Application, NASH is expected to grow at a significant CAGR of 8.2% over the forecast period.
  • By End-user, contract research organizations (CROs) hold the major revenue share of 45.8%.
  • North America held a revenue share of approximately 39.6% in 2022
  • Asia Pacific market is projected to grow rapidly during the forecast period.

Clinical trial imaging helps companies and organizations to develop novel life science products. Therefore, the number of clinical trial imaging has increased constantly. With the emergence of new diseases like the COVID-19 pandemic, the need for clinical trial imaging has increased significantly. Many companies are providing clinical trial imaging for the development of drug treatments for emerging diseases. These all factors are significantly lifting the market of clinical trial imaging.

Factors affecting the growth of the Clinical Trial Imaging Market

Several factors can affect the growth of the clinical trial imaging market. Some of these factors include:

  • Increasing Prevalence of Chronic Diseases: In the last few years, the prevalence of chronic diseases like diabetes, cancer, and cardiovascular diseases has increased significantly. Changing lifestyles have adversely affected the prevalence of chronic diseases. Therefore, companies are increasingly conducting clinical trial imaging.
  • Rising Investments in R&D: Major companies in the pharmaceutical and healthcare sectors are heavily investing in the research and development of new drug substances for the treatment of newly emerging diseases. This is boosting the demand for clinical trial imaging in the market.

Top Trends in Clinical Trial Imaging Market

Increasing usage of imaging technology integrated with enhanced power computing is fueling the growth of the global clinical trial imaging market. QIBA (Quantitative Imaging Biomarkers Alliance) protocol has announced standard methods and imaging procedures for implementation in clinical trials for better results. This is anticipated to improve the quality of imaging in the clinical trials. It has also increased the adoption of clinical trial imaging in the market.

Buy Now this Premium Report to Grow your Business: https://market.us/purchase-report/?report_id=77788

Market Growth

The rising number of patients with chronic diseases like diabetes, cancer, and cardiovascular diseases has forced companies to invest in the research and development of new drug substances and treatments for preventing these chronic diseases. Many companies are collaborating with a contract research organization to conduct clinical trial imaging for the diagnosis of patients' conditions. This is boosting the growth of the global clinical trial imaging market.

Regional Analysis

The clinical trial imaging market is led by North America holding a major revenue share of 39.6%. This massive growth of the North America region is owing to the prevalence of chronic diseases and the increased number of aged population. The governments of countries in the North America region, like the United States and Canada, have increased their healthcare expenditure over the last few years. This is playing a significant role in the domination of the North America region in the market. Also, the increasing research and development activities in the pharmaceutical companies across the region have boosted the growth of the North America region in the clinical trial imaging market.

Competitive Landscape

Some of the major players include IXICO plc, Navitas Life Sciences, Radiant Sage LLC, Resonance Health, Medpace, Biomedical Systems Corp, WCG Clinical, BioTelemetry, Keosys, Icon PLC, and other key players.

Scope of the Report

Report AttributesDetails
Market Value (2022)US$ 1067.3 Million
Forecast Revenue 2032US$ 2,219.8 Million
CAGR (2023 to 2032)7.8%
North America Revenue Share39.6%
Base Year2022
Historic Period2016 to 2022
Forecast Year2023 to 2032

Market Drivers

The rising number of contract research organizations (CRO) is supporting the growth of the global clinical trial imaging market. Contract research organizations support clinical trials and other research activities by providing various outsourced pharmaceutical research services that can ease the work during clinical trial operations for both medical devices and drugs. This is attracting many companies to conduct clinical trials with the support of contract research organizations. Also, many key companies in clinical trial imaging and pharmaceuticals are heavily investing in the research and development of novel life science products. Continuously upgrading technologies in imaging has constantly changed medical imaging. These factors are driving the growth of the global clinical trial imaging market.

Market Restraints

During the conduct of clinical trial imaging, medical devices like magnetic resonance imaging, computed tomography scan, and X-ray are used to monitor and examine the volunteer. These medical devices use high-frequency radiation for their functioning. These radiations are absorbed by the body of the individual in clinical trials and all other individuals in the exposure to radiation. This can be harmful to individuals leading to the disintegration of molecular structures in the individual’s body. It can develop various diseases and abnormalities like loss of hair, cancer, skin burns, and many other abnormalities. The risk of developing cancer by exposure to radiation is very high and it can cause several other fatal diseases. Due to this, many individuals try to avoid clinical trial imaging. This is further hampering the growth of the global clinical trial imaging market.

Market Opportunities

Many counties have increased their healthcare expenditure in the last few years. The prevalence of diseases like the COVID-19 pandemic has forced governments to focus on the improvement and development of the healthcare industry. Governments are taking various initiatives to develop better healthcare facilities in the respective countries. This is anticipated to create many new opportunities for companies to conduct clinical trial imaging.

Are you a start-up willing to make it big in the business? Grab an exclusive sample of this report here

Report Segmentation of the Clinical Trial Imaging Market

Service Insight

The project and data management service dominates the segment by holding a major revenue share of 28.6% in the global clinical trial imaging market. This growth of project and data management services is attributed to the generation of huge amounts of data during the conduct of clinical trial imaging. Organizations need proper project and data management for properly managing the data. It includes various operations like data management, management of MRI centers, regulatory & quality control, imaging records, and many such operations. These key factors are driving the growth of project and data management services in the global clinical trial imaging market.

Modality Insight

Computed tomography accounted for the largest share of the global clinical trial imaging market. This growth of computed tomography is owing to the ability of computed tomography to provide comprehensive information for the diagnosis and treatment of abnormalities in children and adults. Computed tomography offers non-invasive body scanning to individuals. These all key factors are fueling the growth of computed tomography in the modality segment of the global clinical trial imaging market.

Application Insight

NASH (Nonalcoholic Steatohepatitis) is expected to grow at the fastest CAGR of 8.2% during the forecast period. This growth of NASH in the application segment is due to the rising prevalence of NASH diseases. Many key companies are working on the research and development of proper treatment for NASH. Therefore, key companies are investing in the conduct of clinical trial imaging for NASH. This is propelling the growth of NASH in the application segment of the global clinical trial imaging market.

End-User Insight

Contract research organizations (CROs) lead the segment by holding a major revenue share of 45.8% in the global clinical trial imaging market. This exponential growth of contract research organizations is due to the high cost of drug development and research that is above the expenditure budget of many companies. Companies are collaborating with contract research organizations to conduct clinical trial imaging for their respective drug product. This is significantly boosting the growth of contract research organizations in the end-user segment of the global clinical trial imaging market.

Download the Latest Analysis Sample PDF (Including Full Table of contents, List of Tables, figures and Chart): https://market.us/report/clinical-trial-imaging-market/request-sample/

Market Segmentation

Based on Service

  • Clinical Trial Design and Consultation Services
  • Reading and Analytical Services
  • Operational Imaging Services
  • System and Technology Support Services
  • Project and Data Management

Based on Modality

  • Ultrasound
  • Magnetic Resonance Imaging
  • Computed Tomography
  • Positron Emission Tomography
  • Echocardiography
  • X-Ray
  • Other Modalities

Based on Application

  • NASH
  • Chronic Kidney Disease
  • Cardiovascular Diseases
  • Diabetes
  • Infectious Diseases
  • Other Applications

Based on End-User

  • Biotechnology and Pharmaceutical companies
  • Contract Research Organizations (CROs)
  • Medical Devices Manufacturers
  • Academic and Government Research Institutes
  • Other End-Users

Based on Geography

  • North America
    • The US
    • Canada
    • Mexico
  • Western Europe
    • Germany
    • France
    • The UK
    • Spain
    • Italy
    • Portugal
    • Ireland
    • Austria
    • Switzerland
    • Benelux
    • Nordic
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • The Czech Republic
    • Greece
    • Rest of Eastern Europe
  • APAC
    • China
    • Japan
    • South Korea
    • India
    • Australia & New Zealand
    • Indonesia
    • Malaysia
    • Philippines
    • Singapore
    • Thailand
    • Vietnam
    • Rest of APAC
  • Latin America
    • Brazil
    • Colombia
    • Chile
    • Argentina
    • Costa Rica
    • Rest of Latin America
  • Middle East & Africa
    • Algeria
    • Egypt
    • Israel
    • Kuwait
    • Nigeria
    • Saudi Arabia
    • South Africa
    • Turkey
    • United Arab Emirates
    • Rest of MEA

Market Key Players

  • Keosys
  • Navitas Life Sciences
  • Radiant Sage LLC
  • Resonance Health
  • Medpace
  • Biomedical Systems Corp
  • WCG Clinical
  • BioTelemetry
  • IXICO plc
  • Icon PLC
  • Other Key Players

Recent Development of the Clinical Trial Imaging Market

  • In June 2023, WCG partenerd with Mint Medical with an aim to combine its product line of clinical trial management with Mint Lesion™ radiology platform for oncology trials.
  • In November 2022, VIDA launched its AI-based platform for clinical trial imaging operations. It was named ‘VIDA Intelligence Portal 2.0’. The aim of this platform is to improve the onsite clinical trial imaging services.
  • In February 2021, ICON PLC acquired PRA Health Science to improve its clinical research business and global healthcare intelligence.

Browse More Related Reports

  • Diabetes Devices Market size is expected to be worth USD 24.0 BN by 2022 from USD 68.2 BN in 2032, at a CAGR of 11.3% from 2022 to 2032.
  • Intravascular Ultrasound Market size is expected to be worth around USD 1296 Million by 2032 from USD 707.55 Million in 2022, growing at a CAGR of 6.40% during the forecast period from 2023 to 2032.
  • Diagnostic ultrasound market was valued at USD 7.1 billion in 2022 and is expected to reach around USD 11.1 billion in 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 4.7%.
  • Cardiac ultrasound systems market is projected to reach a valuation of USD 2774.76 Mn by 2031 at a CAGR of 5.7%, from USD 1593.96 Mn in 2021.

About Us:

Market.US (Powered by Prudour Pvt Ltd) specializes in in-depth market research and analysis and has been proving its mettle as a consulting and customized market research company, apart from being a much sought-after syndicated market research report-providing firm. Market.US provides customization to suit any specific or unique requirement and tailor-makes reports as per request. We go beyond boundaries to take analytics, analysis, study, and outlook to newer heights and broader horizons.

Follow Us On LinkedIn Facebook Twitter

Our Blog: 

 

Coordonnées