Medical Imaging Innovations Revolutionize Clinical Trials, Leading to Faster and More Accurate Results
Worldwide sales of clinical trial imaging devices are predicted to increase at a CAGR of 6.5% from 2023 to 2033. The global clinical trial imaging market is currently valued at US$ 1.15 billion and is thus projected to reach US$ 2.17 billion by the end of the forecast period. The clinical trial imaging market refers to the use of medical imaging technologies such as X-rays, CT scans, MRIs, PET scans, and ultrasound in clinical trials to assess the safety and efficacy of new drugs and medical devices. Imaging plays a critical role in clinical trials by providing researchers with a non-invasive way to monitor the effects of treatments on the body, such as changes in tumor size, blood flow, or organ function
The clinical trial imaging market has been growing rapidly in recent years, driven by the increasing number of clinical trials being conducted globally, as well as advances in medical imaging technology. The market is highly competitive, with a large number of companies offering imaging services to clinical trial sponsors. The market is segmented by modality (CT, MRI, PET, ultrasound, and others), by end-user (pharmaceutical and biotechnology companies, contract research organizations, academic and government research institutes), and by region (North America, Europe, Asia-Pacific, and Rest of the World)
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Key Takeaways from Market Study
- The global clinical trial imaging market is expected to increase at a CAGR of 6.5% from 2023 to 2033.
- Sales of project & data management services are expected to rise at a CAGR of 7% during the forecast period.
- Global demand for operational imaging services is predicted to expand at a CAGR of 6% during the next 10 years.
- China’s market for clinical trial imaging is predicted to expand at a CAGR of 10.5% through 2033.
Country-wise Analysis
The clinical trial imaging market varies by country, with North America (primarily the United States) being the largest market due to the high number of clinical trials conducted in the region and the presence of key players in the industry. Europe is also a significant market, with countries such as Germany, France, and the UK being major contributors. The Asia-Pacific region is expected to grow rapidly in the coming years, driven by the increasing number of clinical trials being conducted in countries such as China, India, and Japan. Other regions, such as Latin America and the Middle East and Africa, are also expected to see growth in the clinical trial imaging market, although at a slower pace compared to other regions. Factors such as government support for clinical research, increasing investments in healthcare infrastructure, and growing awareness about the benefits of medical imaging in clinical trials are expected to drive market growth across all regions
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Winning Strategy
The leading providers of clinical trial imaging solutions are implementing new strategies to enhance business performance and profitability through the development of new products and collaborations with other market players. These market participants are expanding and improving their company’s product line by strategic initiatives including new product launches, conferences, and acquisitions, which is growing revenue share.
- Bioclinica launched the SMART technology suite with Medical Imaging, Interactive Response Technology (IRT), and Electronic Data Capture (EDC) in June 2018 to submit, manage, examine, report, and transfer medical image data that complies with global data privacy standards.
Key Companies Profiled
- Bioclinica, Inc.
- Biomedical Systems Corporation
- Biotelemetry, Inc.
- Cardiovascular Imaging Technologies, LLC
- ERT Clinical
- Icon PLC
- Image Core Lab
- Intrinsic Imaging LLC
- Ixico PLC
- Lyscaut Medical Imaging Company
- Medical Metrics
- Navitas Life Sciences
- Parexel International Corporation
- Perspectum Diagnostics
- Prism Clinical Imaging
- Quotient Sciences
- Radiant Sage LLC
- Resonance Health
- Worldcare Clinical, LLC
Key Segments of Clinical Trial Imaging Industry Research
- By Service :
- Project & Data Management
- Operational Imaging Services
- Reading & Analytical Services
- Clinical Trial Design & Consultation Services
- System & Technology Support Services
- By Application :
- Non-alcoholic Steatohepatitis
- Oncology
- Neurology
- Endocrinology
- Cardiology
- Dermatology
- Hematology
- By End User :
- Contract Research Organizations
- Biotechnology & Pharmaceutical Companies
- Medical Devices Manufacturers
- Academic & Government Research Institutes
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More Valuable Insights on Offer
In its latest release, Fact.MR offers a frank study of the global clinical trial imaging market, including historical demand data (from 2018 to 2022) and projections for the years 2023 to 2033.
The study provides key market insights based on service (project and data management, operational imaging services, reading and analytical services, clinical trial design and consultation services, system and technology support services), application (non-alcoholic steatohepatitis, oncology, neurology, endocrinology, cardiology, dermatology, haematology), and end user (contract research organizations, biotechnology and pharmaceutical companies, medical devices manufacturers). (North America, Europe, Asia Pacific, Latin America, and MEA).
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