Global Clinical Trial Imaging Market is estimated to grow at a CAGR of 8% by 2026 - Growing Research & Development Investments to develop New Drugs and Therapies

Imaging is an important component in clinical trials. Medical imaging is an asset in the drug development process as it can provide an efficacy evaluation and safety monitoring data needed in clinical trials for regulatory submission. Additionally, imaging provides detailed insights into the drug mechanism of action (MOA) and drug effects which can help researchers make clear and sound decisions.

Adoption of Imaging Biomarkers in Clinical Trials is Poised to Boost the Growth of Clinical Trial Imaging Market

Imaging biomarkers are the cornerstone of modern radiology and imaging endpoints are an essential necessity for patient safety and understanding a drug's effectiveness. Imaging biomarkers are more commonly accepted by the FDA as a surrogate endpoint in the traditional and accelerated approval process for new drugs and biologics. Depending upon the application, imaging biomarkers can be used in other applications such as oncology trials, neurological trials, musculoskeletal trials and other therapeutic areas.

Growing Number of Contract Research Organizations (CROs) Drives the Global Clinical Trial Imaging Market

Each year, the pharmaceutical industry develops a variety of new drugs which provides many medical benefits. Developing new drugs is a costly and uncertain process, and many potential drugs never make it to the global market. Therefore, to save and reduce costs, companies outsource these services to CROs. CROs provide support to pharmaceutical and biotech companies in the form of outsourced pharmaceutical research services.

Following Benefits Are Associated with Clinical Trial Imaging

Imaging techniques bring many advantages to the challenging process of drug development. Some of them are as follows:
Quicker completion of clinical trials.
Cost reduction for late-phase clinical trials.
Quicker approval for orphan disease.
Candidate drugs screening efficiency improvement.

Rise in Application of Clinical Trial Imaging in Oncology Trials Drives the Clinical Trial Imaging Market

Imaging techniques are rapidly being used in oncological clinical trials to provide an evidence for decision-making. With the application of conventional morphological imaging techniques and standardized response criteria based on tumor size measurements, imaging continues to be used to define major study endpoints. In later stages of oncological drug development, imaging forms the basis of robust response and progression criteria to interrogate the drug in a large number of clinical trial subjects.

Geographic Analysis: North America Holds the Larger Share of the Clinical Trial Imaging Market

From a geographical perspective, North America holds a larger share of the clinical trial imaging market followed by Europe. This can be mainly attributed to the rising number of clinical trials & studies, growing investments by leading market players for new drug development and fundings from the government to support cancer treatment in clinical trials.

Competitive Landscape Analysis: Clinical Trial Imaging Market

Some of the established market players operating in the global clinical trial imaging market are Icon plc., BioTelemetry Inc., Biomedical Systems Corporation, Medpace Holdings Inc., and Ixico plc., among others.

Growth Strategies Adopted by Market Players to Establish Their Strong Foothold in Clinical Trial Imaging Market

All leading players operating in the global market are adopting both organic and inorganic growth strategies such as collaborations, acquisitions and new product launches to garner a larger market share.

For instance,
In May 2022, IXICO plc, the neuroimaging Contract Research Organization (CRO) announced that they have entered into a multi-party consortium agreement for the development of improved imaging biomarkers for the early detection and staging of Huntington's disease.
In January 2022, Clario and XingImaging announced they have expanded their partnership to deliver PET imaging clinical trials for testing novel therapeutics in China.

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Ruta Halde
Associate, Medi-Tech Insights
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Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.