Press release
Clinical Trial Imaging Services Market Demand and Growth Opportunities Detailed Analysis Report 2024-2031
Clinical Trial Imaging Services Market
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Clinical Trial Imaging Services Market- by Service Types (Clinical Trial Design & Consultation Services, Reading &, Operational Imaging Services, Project & Data Management Services, and Other Service Types),
Therapeutic Areas (Oncology, Neurology, Endocrinology, Analytical Services Cardiology, Gastroenterology, and Other Therapeutic Area), End-Users (Pharmaceutical & Biotechnology Companies, Medical Device Manufacturers, and Academic & Government Research Institutes), Trends, Industry Competition Analysis, Revenue and Forecast To 2030."
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InsightAce Analytic forecasts a steady rise in the global clinical trial imaging services market. The market, valued at US$1.37 billion in 2021, is expected to reach US$2.3 billion by 2031, reflecting a compound annual growth rate (CAGR) of 6.39% from 2024 onwards.
Clinical trial imaging services encompass a range of services offered by contract research organizations (CROs) to support imaging needs within clinical trials. These services cater to the pharmaceutical, biotechnology, and medical device industries, allowing them to outsource imaging-related tasks during clinical trials.
The market offers a comprehensive suite of services, including image analysis, quality control, project management, and data management. Notably, these services are applicable across various therapeutic areas, including neurology, endocrinology, and oncology.
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.
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.
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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
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
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
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
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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