CHICAGO, Aug. 18, 2023 /PRNewswire/ — In the near future, the Clinical Trial Imaging industry is poised to undergo a transformative evolution, driven by rapid advancements in medical imaging technology, data analytics, and regulatory frameworks. Cutting-edge imaging modalities such as functional MRI, molecular imaging, and advanced PET-CT scans will enable researchers to delve deeper into the intricacies of disease progression and treatment response, providing more nuanced and personalized insights. Integration of artificial intelligence and machine learning algorithms will streamline image analysis, facilitating quicker and more accurate diagnoses, patient stratification, and endpoint determination. Additionally, seamless collaboration between pharmaceutical companies, research institutions, and imaging facilities, coupled with standardized protocols, will enhance data sharing and accelerate clinical trial timelines. However, this expansion will also bring challenges in terms of data security, protocol harmonization, and ensuring the reliability of novel imaging techniques. In essence, the Clinical Trial Imaging industry’s imminent future promises to revolutionize the landscape of medical research, enhancing the efficiency and effectiveness of drug development while ultimately benefiting patient outcomes.

Clinical Trial Imaging Market in terms of revenue was estimated to be worth $1.3 billion in 2023 and is poised to reach $1.9 billion by 2028, growing at a CAGR of 7.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. Rising expenditures in research and development, the expansion of the pharmaceutical and biotechnology sectors, and the proliferation of Contract Research Organizations (CROs) constitute several additional factors. Emerging economies like China, India, and Japan present attractive prospects for stakeholders engaged in the clinical trial imaging market.

Download an Illustrative overview: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=30446624

Browse in-depth TOC on “Clinical Trial Imaging Market”

111 – Tables
38 – Figures
179 – Pages

Advertisement

Clinical Trial Imaging Market Scope:

Report Coverage	Details
Market Revenue in 2023	$1.3 billion Advertisement
Estimated Value by 2028	$1.9 billion
Growth Rate	Poised to grow at a CAGR of 7.8%
Market Size Available for Advertisement	2021–2028
Forecast Period	2023–2028
Forecast Units	Value (USD Billion) Advertisement
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Service & software, modality, therapeutic area, end user and region
Geographies Covered Advertisement	North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Growth opportunities in emerging economies Advertisement
Key Market Drivers	Rise in research and development expenditures

The services segment accounted for the largest share of the clinical trial imaging market, by product and service segment, in 2022

Based on product, the clinical trial imaging market is segmented into services and software. In 2022, services accounted for the largest share of the global clinical trial imaging market. The large share of this segment can primarily be attributed to the high cost of imaging equipment, which has driven the outsourcing of imaging clinical trials by pharmaceutical, biotechnology, and medical device manufacturers to service providers.

Advertisement

Positron emission tomography segment to register the highest growth rate during the forecast period

The clinical trial imaging market is segmented into computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray, echocardiography and other modalities. In 2022, the positron emission tomography segment accounted for the highest growth rate. Technological expansions and the introduction of new tracers for cardiology, oncology, and neurology applications are expected to support the adoption of PET systems in clinical trial settings.

The oncology segment accounted for the largest share of the clinical trial imaging market, by therapeutic area segment, in 2022

Based on therapeutic area, the clinical trial imaging market has been segmented into oncology, infectious diseases, neurology, CVS, endocrinology, immunological disorder and other therapeutic area. In 2022, the oncology segment accounted for the largest share of the clinical trial imaging market. The dominant portion of this segment’s market share can be chiefly attributed to the extensive volume of oncology-related clinical trials, driven by the global increase in cancer incidence.

North America is the largest regional market for clinical trial imaging market

Advertisement

The global clinical trial imaging market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the clinical trial imaging market. The large share of this region can be attributed to the growing cutting-edge medical technologies, a mounting count of pharmaceutical and biotechnology enterprises, and substantial governmental investments in clinical research and development.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=30446624

Clinical Trial Imaging Market Dynamics:

Drivers:

1. Increasing R&D spending
2. Growth of pharmaceutical and biotechnology industries
3. Increasing number of CROs

Restraints:

1. High implementation cost of imaging systems

Opportunities:

1. Growth opportunities in emerging economies
2. Development of innovative imaging modalities, contrast agents, molecular probes, and radiopharmaceuticals

Challenges:

1. High cost of clinical trials

Key Market Players:

The major players operating in this market are ICON plc. (Ireland), BioTelemetry Inc. (US), Biomedical Systems Corporation (US), Medpace Holdings, Inc. (US), IXICO plc. (UK), Resonance Health Ltd. (Australia), Radiant Sage LLC. (US), BioClinica Inc. (US), Intrinsic Imaging LLC. (US), Cardiovascular Imaging Technologies LLC. (US), Medical Metrics Inc. (US), Prism Clinical Imaging, Inc. (US), Boston Imaging Core Lab LLC. (US), anagram 4 clinical trials (Spain), Lyscaut Medical Imaging Company (Belgium), Calyx Group (UK), Bioseptive Inc. (Canada), ProScan Imaging LLC. (US), Micron Inc. (Japan), Imaging Endpoints LI, LLC (US), Perspectum Ltd. (UK), Pharmtrace klinische Entwicklung GmbH (Germany), WorldCare Clinical, LLC (US), Median Technologies (France) and Invicro. LLC. (US).

Advertisement

Recent Developments:

• In March 2023, ICON Plc. (Ireland) announced a strategic partnership with LEO Pharma (Denmark) to scale clinical trial execution that is patient-centric and cost effective, and which will support the company’s overall ambition of building one of the most effective and efficient clinical portfolio execution organisations in the industry.
• In March 2023, Clario (US), announced the launch of a cutting-edge cloud-based image viewer tool for sponsors and contract research organizations to view images related to their clinical trials.
• In May 2021 IXICO Plc. (UK) signed a contract with biopharmaceutical client IXICO to provide neuroimaging services for a Phase III clinical trial under this contract.

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=30446624

Clinical Trial Imaging Market Advantages:

• Enhanced Decision Making: Imaging technologies allow researchers and clinicians to visualize biological processes and disease progression in real-time. This enables more informed decision-making during clinical trials by providing objective and quantifiable data on treatment efficacy and safety.
• Early Endpoint Identification: Imaging enables the identification of early treatment responses and disease progression markers, enabling the early determination of trial endpoints. This leads to quicker assessment of treatment outcomes and potential for adaptive trial designs.
• Patient-Centric Approach: Imaging modalities like PET scans, MRIs, and CT scans provide a non-invasive way to monitor patient health, reducing the need for invasive procedures. This patient-centric approach improves participant comfort and compliance in clinical trials.
• Personalized Medicine: Advanced imaging techniques facilitate the identification of patient subgroups that respond better to specific treatments. This leads to the development of targeted therapies, enhancing treatment effectiveness and minimizing adverse effects.
• Efficient Drug Development: Imaging accelerates drug development by providing insights into a drug’s mechanism of action and its impact on disease pathways. This reduces the time and costs associated with traditional trial endpoints, contributing to faster market entry for new drugs.
• Objective Quantification: Imaging offers objective measurements of treatment effects, reducing subjectivity in data interpretation. This improves the robustness and credibility of trial results, enhancing the likelihood of regulatory approval.
• Global Collaboration: Digital imaging technology allows real-time sharing of data across geographical boundaries, facilitating collaboration among researchers, clinicians, and regulatory agencies. This leads to standardized protocols and increased harmonization across clinical trials.
• Regulatory Compliance: Well-established imaging techniques adhere to rigorous regulatory standards, ensuring the safety and ethical considerations of participants. This instills confidence in trial outcomes and supports regulatory approval processes.
• Longitudinal Monitoring: Imaging enables researchers to track disease progression and treatment response over time, providing insights into the long-term effects of interventions. This information is crucial for understanding chronic diseases and evaluating treatment durability.
• Translational Research: Clinical trial imaging bridges the gap between preclinical research and human studies, allowing researchers to validate findings in real-world patient populations. This aids in the translation of promising preclinical discoveries into effective clinical interventions.

In summary, the advantages of the Clinical Trial Imaging market lie in its ability to provide objective, precise, and timely data, enhancing the efficiency and success rate of drug development while ultimately benefiting patient care and medical advancements.

Related Reports:

CRO Services Market – Global Forecasts to 2028

Mice Model Market – Global Forecasts to 2028

Advertisement

Clinical Trial Supplies Market – Global Forecasts to 2028

Contrast Media Market – Global Forecasts to 2027

Diagnostic Imaging Market – Global Forecasts to 2026

About MarketsandMarkets™:

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Advertisement

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/clinical-trials-imaging-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/clinical-trials-imaging.asp

Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg

Advertisement

View original content:https://www.prnewswire.co.uk/news-releases/clinical-trial-imaging-market-worth-1-9-billion–marketsandmarkets-301904364.html