Clinical Trial Imaging Market is Estimated to Document US$ 2.17 billion by 2033

From 2023 to 2033, clinical trial imaging devices market sales are expected to grow globally at a CAGR of 6.5%. The market is expected to grow from its current estimated value of US$ 1.15 billion to US$ 2.17 billion by the end of the forecast period.

The clinical trial imaging market is expected to grow in the coming years due to increasing demand for novel therapies and drugs, and the need to develop them faster and more efficiently. This demand is driving the use of imaging in clinical trials as it provides valuable information about the drug being tested, including its effects on the body, its distribution, and its metabolism

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Market Titans

• Bioclinica, Inc.
• Biomedical Systems Corporation
• Biotelemetry, Inc.
• Cardiovascular Imaging Technologies, LLC
• ERT Clinical
• Icon PLC
• Image Core Lab
• Intrinsic Imaging LLC
• Ixico PLC
• Lyscaut Medical Imaging Company
• Medical Metrics
• Navitas Life Sciences
• Parexel International Corporation
• Perspectum Diagnostics
• Prism Clinical Imaging
• Quotient Sciences
• Radiant Sage LLC
• Resonance Health
• Worldcare Clinical, LLC

The clinical trial imaging market is dominated by several major players, including pharmaceutical companies, imaging contract research organizations (CROs), and imaging equipment manufacturers. These companies provide a range of services including imaging equipment rental, image analysis, and management, and clinical trial design consulting

Key Statistics Supporting the Surge

• The global clinical trial imaging market is expected to increase at a CAGR of 6.5% from 2023 to 2033.
• Sales of project & data management services are expected to rise at a CAGR of 7% during the forecast period.
• Global demand for operational imaging services is predicted to expand at a CAGR of 6% during the next 10 years.
• China's market for clinical trial imaging is predicted to expand at a CAGR of 10.5% through 2033.

Winning Strategy

The leading providers of clinical trial imaging solutions are implementing new strategies to enhance business performance and profitability through the development of new products and collaborations with other market players. These market participants are expanding and improving their company's product line by strategic initiatives including new product launches, conferences, and acquisitions, which is growing revenue share.

• Bioclinica launched the SMART technology suite with Medical Imaging, Interactive Response Technology (IRT), and Electronic Data Capture (EDC) in June 2018 to submit, manage, examine, report, and transfer medical image data that complies with global data privacy standards.

• ICON PLC purchased MedPass International, a European CRO, reimbursement, and regulatory consultant, in February 2020. According to reports, this acquisition has aided in the growth of ICON's medical device and diagnostic research services throughout Europe.

• To provide PET imaging clinical trials for evaluating innovative therapies in China, Clario teamed with XingImaging, a radiopharmaceutical production and Positron Emission Tomography (PET) acquisition company, in January 2022. To accelerate the beginning of clinical trials and drug discovery in China, the cooperation provides to share of the combined resources and neuroscience specialists of Clario and XingImaging.

Industry Research

• By Service :

o Project & Data Management
o Operational Imaging Services
o Reading & Analytical Services
o Clinical Trial Design & Consultation Services
o System & Technology Support Services

• By Application :

o Non-alcoholic Steatohepatitis
o Oncology
o Neurology
o Endocrinology
o Cardiology
o Dermatology
o Hematology

• By End User :

o Contract Research Organizations
o Biotechnology & Pharmaceutical Companies
o Medical Devices Manufacturers
o Academic & Government Research Institutes

• By Region :

o North America
o Latin America
o Europe
o East Asia
o South Asia & Oceania
o MEA

Country Analysis

1. United States: The US is the largest market for clinical trial imaging, owing to the presence of major pharmaceutical companies and CROs in the region. The country also has a well-developed healthcare infrastructure and favorable regulatory policies that support the growth of the market.
2. Europe: Europe is another major market for clinical trial imaging, with countries such as Germany, France, and the UK leading the way. The region has a robust healthcare system and is home to many leading imaging equipment manufacturers and CROs.
3. Asia-Pacific: The Asia-Pacific region is expected to grow rapidly in the coming years, driven by factors such as increasing healthcare expenditure, rising clinical trial activity, and a growing demand for innovative therapies. China, Japan, and India are some of the key markets in the region.
4. Rest of the World: The rest of the world market includes regions such as Latin America, the Middle East, and Africa. The market in these regions is relatively small but is expected to grow as clinical trial activity increases in these regions.

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This release was published on openPR.