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Clinical Trial Imaging Services Market Deep Research Report with Forecast to 2031
According to the latest research by InsightAce Analytic, the global Clinical Trial Imaging Services market is valued at US$ 1.37 billion in 2021, and it is expected to reach US$ 2.36 billion by 2030, with a CAGR of 6.39% during a forecast period of 2022-2030.
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Clinical trial imaging services are the collection of services provided by contract research organizations (CROs) to undertake imaging in clinical trials. Furthermore, CROs offer these services to pharmaceutical, medical devices, biotechnology, and other industries. These businesses are using the services for outsourcing clinical trial imaging operations. Furthermore, some of the market's services include project and data management, quality control, picture analysis, and others. These services are provided for a variety of therapeutic specializations, including oncology, endocrinology, neurology, and others.
The primary reason driving the expansion of the clinical trial imaging services market is the increasing demand for outsourcing imaging clinical trials around the globe. Additionally, the market is driving as a result of factors, including developments in the field of medical imaging technology. Increased adoption of imaging in clinical trials, which encourages more outsourcing of these imaging-related services, and an increase in clinical trials due to the rise in the prevalence of chronic conditions, which call for novel treatment options, all contribute to the growth of the market for clinical trial imaging services. A profitable opportunity for expanding the clinical trial imaging services market is provided by raising awareness of the use of imaging in clinical trials and the existence of imaging technologies under development. Additionally, anticipated growth drivers include expanding the pharmaceutical and biotechnology industries, creating cloud-based platforms that make image sharing more accessible, and the rise in chronic diseases. The market will develop as a result of the integration of artificial intelligence (AI), which will reduce errors and increase efficiency. Furthermore, the growing number of contract research companies and the strong trend of life science research commercialization restrain market expansion throughout the projected time.
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North America is anticipated to be the major contributor to the Clinical Trial Imaging Services market over the forecast years. This is attributable to the increased use of imaging as an outcome in clinical trials, which encourages sponsors to outsource these services to reduce associated costs. Additionally, the presence of significant competitors like Parexel International, Biospective, Inc., ERT Clinical, and Intrinsic Imaging LLC makes clinical trial imaging services easily accessible, which in turn spurs the market's expansion in the area. In addition, the Asia Pacific Clinical Trial Imaging Services market is expected to grow significantly during the forecast period due to increased public awareness of the use of imaging in clinical testing. The upsurge in the number of clinical trials undertaken in the area, which in turn fuels the rise in demand for clinical trial services, is one of the additional reasons driving the market's expansion.
Major market players operating in the Clinical Trial Imaging Services market include
Calyx, Biospective Inc., Bioclinica Inc., Ert Clinical, Median Technologies, Proscan Imaging, Ixico Plc, Imaging Endpoints, Intrinsic Imaging, Llc, Micron, Inc., Medpace, Inc., Pharmtrace, Icon Plc., and other Prominent Player.
Recent collaborations and agreements in the market:
• In May 2021, IXICO Plc. (UK) and biopharmaceutical client IXICO entered into a contract to provide neuroimaging services for a Phase III clinical trial.
• In February 2021, HepaFat AI software from Resonance Health Ltd. (Australia) acquired CE mark approval for market commercialization 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 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
Global Clinical Trial Imaging Services Market, by Therapeutic Areas, 2022-2030 (Value US$ Mn)
• Oncology
• Neurology
• Endocrinology
• Cardiology
• Gastroenterology
• 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 receive a comprehensive analysis of the prospects for the global Clinical Trial Imaging Services market
To receive an industry overview and future trends of the Clinical Trial Imaging Services market
To analyze the Clinical Trial Imaging Services market drivers and challenges
To get information on the Clinical Trial Imaging Services market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Clinical Trial Imaging Services market industry
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