Press release
Clinical Trial Imaging Services Market Report on the Untapped Growth Opportunities in the Industry
The Clinical Trial Imaging Services Market Size is valued at 1155.6 million in 2022 and is predicted to reach 1901.2 million by the year 2031 at a 5.8 % CAGR during the forecast period for 2023-2031.
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Contract research organizations (CROs) are responsible for providing clinical trial imaging services, a compilation of services used to conduct imaging in clinical trials. Additionally, CROs offer these services to various industries, including pharmaceuticals, medical devices, and biotechnology. These organizations are outsourcing clinical trial imaging operations. Additionally, the market offers multiple services, such as quality control, project and data administration, and image analysis. These services are provided for diverse therapeutic specializations, such as neurology, endocrinology, and oncology. The growing global demand for outsourcing imaging clinical trials is the primary factor propelling the growth of the clinical trial services market.
Furthermore, the market is experiencing growth due to a variety of factors, such as advancements in medical imaging technology. The market for clinical trial imaging services is bolstered by the increasing prevalence of chronic conditions, which necessitates the development of novel treatment options and the increased adoption of imaging in clinical trials, which encourages the outsourcing of imaging-related services. Raising awareness of the usage of imaging in clinical trials and the existence of imaging technologies that are currently in development presents a profitable opportunity for the expansion of the clinical trial imaging services market. Furthermore, the anticipated growth drivers include:
• The expansion of the pharmaceutical and biotechnology industries.
• The development of cloud-based platforms that facilitate image sharing.
• The rising prevalence of chronic diseases.
The market will evolve due to the integration of artificial intelligence (AI), which will enhance efficiency and minimize errors. Additionally, the market's expansion is hindered by the expanding number of contract research companies and the robust trend of commercializing life science research over the projected period. During the forecast years, North America is expected to be the primary contributor to the Clinical Trial Imaging Services market. This is due to the heightened utilization of imaging as a clinical trial outcome, which motivates sponsors to contract out these services in order to mitigate associated expenses. Furthermore, the prevalence of substantial competitors such as Biospective, Inc., ERT Clinical, Intrinsic Imaging LLC, and Parexel International facilitates the accessibility of clinical trial imaging services, which in turn stimulates the market's growth in the region.
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Furthermore, the Asia Pacific Clinical Trial Imaging Services market is anticipated to experience substantial growth during the forecast period as a result of the growing public awareness of the role of imaging in clinical testing. The market's expansion is further fueled by the increase in demand for clinical trial services, which is a result of the increase in the number of clinical trials conducted in the region.
Major market players operating in the Clinical Trial Imaging Services market include
Intrinsic Imaging, Llc, Micron, Inc.,Calyx, Biospective Inc., Bioclinica Inc., Ert Clinical, Median Technologies, Proscan Imaging, Ixico Plc, Imaging Endpoints, Medpace, Inc., Pharmtrace, Icon Plc., and other Prominent Player.
Recent collaborations and agreements in the market:
• In May 2021, A contract was signed between IXICO Plc. (UK) and its biopharmaceutical client, IXICO, to provide neuroimaging services for a Phase III clinical trial.
• In February 2021, Resonance Health Ltd. (Australia) has obtained CE mark approval for the commercialization of HepaFat AI software in Europe.
• In February 2021, PRA Health Science (US) was purchased by ICON Plc. (Ireland) for expanding its clinical research and global healthcare intelligence operations.
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Market Segments
Global Clinical Trial Imaging Services Market, by Therapeutic Areas, 2022-2030 (Value US$ Mn)
• Oncology
• Neurology
• Endocrinology
• Cardiology
• Gastroenterology
Global Clinical Trial Imaging Services Market, by Service Types, 2022-2030 (Value US$ Mn)
• Clinical Trial Design & Consultation Services
• Reading & Analytical Services
• Operational Imaging Services
• Project & Data Management Services
• Other Service Types
• Other Therapeutic Area
Global Clinical Trial Imaging Services Market, by End-Users, 2022-2030 (Value US$ Mn)
• Pharmaceutical & Biotechnology Companies
• Medical Device Manufacturers
• Academic & Government Research Institutes
Global Clinical Trial Imaging Services Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Clinical Trial Imaging Services Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Clinical Trial Imaging Services Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Clinical Trial Imaging Services Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Clinical Trial Imaging Services Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Clinical Trial Imaging Services Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
> To obtain a thorough examination of the global Clinical Trial Imaging Services market's prospective
> To obtain an industry overview and future trends of the Clinical Trial Imaging Services market
> To conduct an analysis of the drivers and challenges of the Clinical Trial Imaging Services market
> To obtain data regarding the market value of Clinical Trial Imaging Services (US$Mn) through 2031
> The Clinical Trial Imaging Services market industry has experienced substantial investments, mergers, and acquisitions.
Details insights on this market: https://www.insightaceanalytic.com/report/global-clinical-trial-imaging-services-market/1023
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