Clinical Trial Imaging Services Market 2021 Business Development, Size, Share, Analysis And Opportunities To 2027

Increase in need for outsourcing imaging in the clinical trials, advancements in medical imaging technology fuel the global clinical trial imaging services market. North America contributed to the highest market share, and will maintain its dominant share throughout the forecast period. Owing to the Covid-19 pandemic, the focus of research and healthcare institutions shifted toward finding treatment for Covid-infected patients and there were cancellations or rescheduling of many clinical trials.

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Rise in the need to outsource imaging in clinical trials, growth in adoption of imaging in clinical trials, and developments in the field of medical imaging technology drive the global clinical trial imaging services market. However, challenges associated with integration of imaging in clinical trials restrain the market growth. On the other hand, progress in image modality creates new opportunities in the coming years.

Covid-19 Scenario

The outbreak of covid-19 impacted the market in various manners including disruptions or cancellations or rescheduling of majority of the clinical trials.

In addition, the industry has witnessed a major drop in demand for imaging clinical trial services during the lockdown.

At the same time, the research related to development of therapeutics for COVID-19 has fueled the demand to certain extent.

Nevertheless, the government bodies have now introduced certain relaxations in various regions. Owing to which the industry is recovering and is expected to recoup soon.

By service type, the project and data management services segment held the highest market share, accounting for around one-third of the total share in 2019, and is projected to maintain its leadership position during the forecast period. Moreover, the same segment is projected to register the largest CAGR of 6.8% from 2020 to 2027.

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The animal feed segment to maintain its leadership position during the forecast period

Based on end user, the pharmaceutical and biotechnology companies segment contributed to the highest market share with more than two-thirds of the global clinical trial imaging services market in 2019, and is estimated to maintain its leadership position during the forecast period. Furthermore, the segment is estimated to generate the fastest CAGR of 5.9% from 2020 to 2027. This is attributed to constant change in needs related to clinical trials.

Leading market players

BioClinica, Inc.
Biospective Inc.
Calyx
ERT Clinical
Icon Plc
IXICO plc
Intrinsic Imaging LLC
Imaging Endpoints
Micron Inc
Median Technologies
Medpace Inc.
Pharmtrace
ProScan Imaging.

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