What's driving the Clinical Trial Imaging Market Trends? Parexel International Corporation, Biomedical Systems Corporation, Biotelemetry, Inc., Cardiovascular Imaging Technologies LLC, Intrinsic Imaging LLC, Radiant Sage LLC, and Worldcare Clinical, LLC.

Industry Insights

Clinical Trial Imaging Market was valued at USD 772.9 Million in 2016 and is projected to reach USD 1,294.75 Million by 2025, growing at a CAGR of 5.9% from 2016 to 2025.

Medical imaging plays an active role in clinical development of novel life science products. Although the medical imaging industry is in a constant state of fluctuation, the biotechnology and pharmaceutical industries continue to increase. This can be attributed to enhanced investment in medical imaging companies as well as mergers and acquisitions along with adoption of innovative imaging technologies to support clinical trials for medical devices. However, high cost of machinery and their installation and high capital required to run clinical trials can restrain the growth of the market.

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Advancements in the technology are enabling substantial improvements in collection, evaluation, and submission of clinical trial imaging data. Technology-enabled imaging, especially image analysis software, offers numerous benefits, including data accuracy, consistency, adaptability, and compliance, to clinical studies. For instance, image analysis software is implemented to manage and direct a reader via analysis of imaging time point.

Increasing use of the technology along with enhanced power of computing is boosting the usage of imaging in clinical trials. The Quantitative Imaging Biomarkers Alliance (QIBA) protocol offers standardized methods as well as imaging procedures with uniform procedures that can be implemented to attain precise and statistical endpoints in clinical trials.

For improving image capturing and assessment, numerous technology patents are being filed. Apart from this, imaging core lab players are coming up with patented technologies to aid pharmaceutical companies in minimizing development timelines. For instance, IXICO provides a reading tool named Assessa, which aids in improved decision making in clinical trials for neurological disorders such as cognitive impairment, dementia, and diseases associated with memory such as Parkinson’s, Schizophrenia, and Alzheimer’s disease.

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Service Insights
The operational imaging services segment accounted for the largest share in the market in 2017. The segment is estimated to retain its position through 2026, thanks to core services provided by imaging CROs in support of Class I, II, III medical device trials and phase I-IV clinical trials.

Medical imaging is emerging as a critical endpoint in clinical trial study across varied therapeutic areas such as neurology, musculoskeletal, and oncology. As per NCBI, during the process of oncology drug development, CT scans along with other imaging modalities such as positron emission tomography (PET) and magnetic resonance imaging (MRI) provide response biomarkers, thus providing proof of effects and efficacy of drugs and treatments, respectively.

Modalities Insights

Computed tomography (CT) scan services was the largest segment in 2017, accounting for 29.0% of the overall clinical trial imaging market revenue. The growth of the segment can be attributed to extensive advantages CT offers such as study of drug activity and screenings for injuries, cancer (tumors), and abnormalities inside the body.

Computed tomography is a non-invasive medical procedure that makes use of X-Ray to generate cross-sectional images of body. CT scan provides a detailed information to plan treatment and examine abnormalities in children and adults. Radiological imaging combined with specific molecular assays acts as a valuable tool to help in the go or no-go decision in preclinical and clinical settings.

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End-use Insights

Based on end use, contract research organizations (CROs) were at the forefront of the market in 2017. Snowballing cost of drug development along with increased research & development activities is contributing to the growth of the segment. In addition, mounting demand for outsourcing of research and development activities by biotechnology and pharmaceutical companies to reduce expenses is expected to bolster the growth of the market. Contract research outsourcing collaborations offer cutting edge services. Therefore, government organizations prefer handover of projects to CROs.

The biotechnology and pharmaceutical companies segment is likely to witness a noteworthy CAGR during the forecast period. Soaring need to develop new drug and therapies to cure chronic diseases is one of the primary factors supplementing the growth of the segment.

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This release was published on openPR.