Clinical Trials Imaging Market - Positive long-term growth outlook 2023

Over the past three decades, imaging market has undergone an extensive transformation both in clinical and non-clinical arenas. Clinical imaging is now an important part of the expensive research and development process of pharmaceutical and biotechnology industries. The usage of medical imaging is now recognized in clinical-trials, to make trials more effective and accurate. Clinical imaging delivers information of human anatomy/ physiology, varying from undeniable interpretable information to information that is of uncertain value. The image presenting long fractured bone is simply understood rather than a distribution of uncharacterized ligand receptor in cerebral cortex, is pointless. The clinical inferences of an image are important in evaluating the drug effect. Clinical imaging is used on daily basis to prevent, detect, treat and manage various diseases or medical conditions.

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The global market of clinical trial imaging is segmented by products, modality, end users and geography. The products are further segmented into services and software. Services are classified into reader service, design consulting, operational imaging services, system and technology. The modality market is categorized into CT, MRI, Ultrasound, PET, X Ray, Echo and others. The CT has the largest share in the clinical trial imaging market. End users are sorted into biopharmaceutical companies, medical devices manufacturers, academic and government research institutes, CROs and others. The geographic segments included are North America (U.S. and Canada), Europe (Germany, France, U.K and Rest of Europe), Asia Pacific (China, Japan, India and Rest of Asia Pacific), Latin America (Brazil and Rest of Latin America), and Middle East and Africa (South Africa and Rest of Middle east). North America is expected to have the largest share in the global clinical trials imaging market in 2015, whereas Asia is expected to register the fastest growth.

The clinical trials imaging market has shown a healthy growth in the past decades. The rise in the growth of biopharmaceuticals companies, increase in number of contract research organizations, combined effect of aging population and growing incidence of chronic diseases, miniaturization and portability of equipment areresponsible to drive the market. The improvement of the regulatory framework in the emerging market will act as a driver in the progress and acceptance of imaging technologies in clinical trials.

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The high growth potential in emerging markets, provides new opportunities for the clinical trial imaging market. In the future the producers of medical technology &imaging systems will primarily develop new modalities that are economic, energy-saving, and ergonomic, less maintenance and low risk potential. The rise in the demand of multimodality imaging technology in clinical trials is seen as a rising opportunity in this market.

Some of the major players of this market includes BioClinica Inc, Cardiovascular Imaging Technologies, ICON plc, Biomedical Systems, Intrinsic Imaging LLC, PAREXEL International Corporation, VirtualScopic Inc and Prism Clinical Imaging.

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