Clinical trial imaging plays an important role in the research and development of new medicinal products. More than 50% of clinical trials consist of medical imaging, as it makes studies faster, cheaper and with low risk. The growth in this sector is driven by the increase in research and development in medicinal products, and pharmaceutical & biotechnology industries. The Global Clinical Trial Imaging market was valued at USD 1.01 billion in 2021 and it is predicted to reach USD 1.97 billion by 2030, rising at a compound annual growth rate (CAGR) of 8.7 % from 2022 to 2030.
COVID-19 pandemic has severely affected the clinical trial imaging market globally, due to the shutdown of manufacturing industries, and clinical trials for other diseases were put aside during the pandemic. After the decline of COVID-19 cases recently, the clinical trials for other diseases have resumed and new clinical trials for COVID-19 have increased. This has increased the demand for clinical trial imaging.
Years Considered for the study:
Clinical Trial Imaging Market
Data management services hold a significant share in global clinical trial imaging. Clinical trials with medical imaging require data management services for managing the trial efficiently and effectively. Furthermore, the clinical trials in various medical fields have increased over the past decade, which is likely going to increase the demand for clinical trial imaging over the forecast period.
Cardiovascular diseases are leading the market of clinical trial imaging market, as a lot of imaging devices are used during their diagnosis and treatment. As the cases of cardiovascular diseases are increasing every year, the need for clinical trials is increasing as well. The growing prevalence of cardiovascular diseases is likely going to drive the market over the forecast period. Diabetes is a prevalent disease all over the world, with 11.3% American population affected by it. With the growing cases of diabetes, several clinical trials are required for the development of the medicinal drug, which can control and cure the disease.
The contract research organizations (CROs) hold the largest share in 2021, the CROs are outsourcing firms, and vendors that carry out R&D functions with precision and focus on the pharmaceutical or biotech industry. The CROs are designed to reduce the costs for companies which are developing new medicines and drugs, their focus is to simplify entry into drug markets and simplify development. The growing demand from pharmaceutical and biotechnology companies to reduce expenses by outsourcing research and development is driving the market.
By Regional Outlook:
North America is leading the market with more than 42% share in 2021. The large market share is linked to the big number of outsourcing firms in the region and more investment in the R&D field as compared to other regions. The majority of the clinical trials are occurring in the North American region. The European region also has a significant share in the market, the research organization are looking to reduce the cost of developing medicinal drugs, which is leading to the adoption of clinical trial imaging. The Asia Pacific region is also going to grow, with more investment coming to the region.
By Key Competitors and Market Share Analysis:
As a result, leading firms are focused on maintaining long-term operations and developing manufacturing, R&D and distribution capabilities to increase their market position.
The following are some of the major market players operating across the globe:
- IXICO plc
- Navitas Life Sciences
- Resonance Health
- ProScan Imaging
- Radiant Sage LLC
- Biomedical Systems Corp
- Cardiovascular Imaging Technologies
- Intrinsic Imaging
Scope of the report
|Actual estimates/Historical data||2017 - 2020|
|Forecast period||2022 - 2030|
|Market representation||Revenue in USD 1.97 billion & 8.7% CAGR from 2022 to 2030|
|Regional scope||North America, Europe, Asia Pacific, Latin America, MEA|
|Country scope||USA, Canada, Mexico, Brazil, Argentina, U.K., Germany, Italy, France, Spain, China, Japan, South Korea, India, Australia, Saudi Arabia, Qatar, UAE, South Africa, etc.|
|The Segment covered by||Services, Application, End-User |
|Companies covered||IXICO plc, Navitas Life Sciences, Resonance Health, ProScan Imaging, Radiant Sage LLC, Medpace, Biomedical Systems Corp, Cardiovascular Imaging Technologies, Intrinsic Imaging, BioTelemetry|
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors, and trends|
|Free customization scope (equivalent to 5 analyst working days)||If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization|
Significant Highlights of the Clinical Trial Imaging Market Research Report:
- The Report Provides the CAGR of the market during the forecast period 2022-2030.
- Detailed analysis and information on factors that will drive Clinical Trial Imaging market growth during the next five years.
- Accurate predictions on the latest and upcoming trends, changes in consumer behavior.
- The growth of the Clinical Trial Imaging market industry across North America can be segmented into the U.S., Canada. Europe is segmented into Germany, the UK, France and the Rest of Europe. The Asia Pacific comprises China, Japan, India, and the Rest of Asia Pacific. The rest of the world has been further segmented into Latin America and the Middle East and Africa.
- A detailed analysis of the markets competitive landscape and in-depth analysis and information on the market.
- Comprehensive details of factors that will challenge the growth of the Clinical Trial Imaging market.
- The report analyses all the recent major developments and helps users of the report with current industry updates.
- We calculate market size such as Historical and forecast the size of the Clinical Trial Imaging market in terms of Revenue (USD Million).
- Market opportunity analysis for specific demography.
- Privately held or very small players profiling in the global marketplace.
- DLF Data Analytics Model is a statistical tool that helps the company to forecast market estimates. A few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
The Key Audiences for Clinical Trial Imaging Market Report:
- Consulting Firms & Research Institutes
- Industry Leaders & Companies aims to enter the Clinical Trial Imaging market
- Universities and Student
- Service Providers, Product Providers, Solution Providers, and other players in the Clinical Trial Imaging market
- Government Bodies and Associated Private Firms
- Individuals interested to learn about the Clinical Trial Imaging market
Segments Covered in the Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2030. For the purpose of this report, Data Lab Forecast has segmented the global Clinical Trial Imaging Market report on the basis of Services, Application, End-User , and region:
The report segment of the global Clinical Trial Imaging market is as follows:
Global Clinical Trial Imaging Market: By Services Outlook (Revenue, USD Million, 2021 - 2030)
- Clinical Trial Design
- Consultation Services
- Analytical Services
Global Clinical Trial Imaging Market: By Application Outlook (Revenue, USD Million, 2021 - 2030)
- Nonalcoholic Steatohepatitis
- Cardiovascular Diseases
Global Clinical Trial Imaging Market: By End-User Outlook (Revenue, USD Million, 2021 - 2030)
- Medical Devices Manufacturers
- Pharmaceutical Companies
Global Clinical Trial Imaging Market: By Region Outlook (Revenue, USD Million, 2021 - 2030)
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- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of The Middle East & Africa