The Clinical Trial Imaging Market Size was valued at USD 1.2 billion in 2023, and is expected to reach USD 2.14 billion by 2031 and grow at a CAGR of 7.5% over the forecast period 2024-2031.
A clinical trial is an important part of the process of developing a pharmacological treatment. Clinical preliminary imaging advances has supported the decrease of medication preliminary expenses. Clinical imaging is a significant piece of the clinical advancement of new life science drugs. The visual quality extensively affects the compound's general presentation. A wide range of sicknesses can be recognized and analyzed utilizing clinical preliminary imaging. The technology aids in the analysis of human physiology, allowing for the development of disease prevention measures.
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DRIVERS
R&D budgets should be increased.
The pharmaceutical and biotechnology industries are seeing rapid growth.
CROs are becoming more prevalent.
RESTRAINTS
Imaging systems are expensive to implement.
OPPORTUNITIES
Countries that are developing
New imaging modalities, molecular probes, contrast agents, and radiopharmaceuticals are all being developed.
CHALLENGES
Clinical studies are expensive.
The advancement of the COVID-19 pandemic has adjusted how clinical treatment is conveyed all over the planet. The COVID-19 pandemic has had a substantial impact on the clinical trial imaging business, with unfavorable changes in rules and recommendations, the closure of manufacturing facilities owing to lockdowns inventory network disturbances, and clinical preliminary enrollment gives all having an adverse consequence. Furthermore, due to lockdowns, the supply of clinical trial imaging goods to end customers has been restricted due to constrained operations in most businesses, insufficient funding for research and academic institutes, and difficulty in providing essential/post-sales services. Furthermore, this is a service-intensive sector, and due to constraints imposed to curb the spread of COVID-19, providing services has become challenging.
As a result of the pandemic forcing the temporary closure of various research centers around the world, several current experiments were put on hold.
Despite the difficult circumstances, industries are gradually recovering, and supply and distribution lines have reopened. While the number of studies for diseases like HIV and tuberculosis declined, focus shifted to COVID-19 diagnostics and therapies, increasing the demand for clinical trial imaging.
By Product and Service Type
Services and software make up the clinical trial imaging market. Because of increased R&D spending and growth in the pharmaceutical and biotechnology industries, the services category accounted for the highest proportion of the clinical trial imaging market in 2023.
By Modality Type
Contingent upon the methodology, the clinical trial imaging market is partitioned into figured tomography, attractive reverberation imaging, ultrasound, positron outflow tomography, X-beam, echocardiography, and different modalities. The computed tomography category held the biggest proportion in 2023. This market is driven by factors such as an increase in the number of CROs, an increase in R&D spending, and expansion in the pharmaceutical and biotechnology industries.
By Therapeutic area Type
Oncology, infectious diseases, neurology, CVS, endocrinology, immunological condition, and other therapeutic areas are the therapeutic areas in which the clinical trial imaging market is segmented. The oncology section was the most dominant in 2023. The growth of the pharmaceutical and biotechnology industries, as well as increased R&D spending, are driving this market.
By End User
Pharmaceutical businesses, biotechnology firms, medical device manufacturers, contract research organisations, university and government research institutes, and other end users have been categorised in the clinical trial imaging market. Pharmaceutical businesses had the highest share of the clinical trial imaging market in 2023. The expansion of this market is being fueled by an increase in pharmaceutical and biotechnology businesses, an increase in the number of CROs, and an increase in R&D spending.
By Product and Service Type
Services
Software
By Modality Type
Computed Tomography
Ultrasound
Positron Emission Tomography
X-ray
By Therapeutic area Type
Oncology
Infectious Diseases
Neurology
CVS
Endocrinology
Immunological Disorder
By End User
Pharmaceutical Companies
Biotechnology Companies
Medical Device Manufacturer
Contract Research Organizations
Academic and Government Research Institutes
North America, Europe, Asia Pacific, and the Rest of the World are the regions that make up the global clinical trial imaging market. During the projection period, the Asia Pacific region is expected to increase the most. The regional market is expanding due to an increase in the incidence of chronic diseases and a growing demand for better diagnostic instruments. Aside from that, the market is expected to increase because to the increasing need for specialised and high-quality healthcare facilities to improve patient lives.
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REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key players of Clinical Trial Imaging Market are as follows: Biomedical Systems Corp, Bio Telemetry, Cardiovascular Imaging Technologies, IXICO plc, Intrinsic Imaging, Med pace, Navetas Life Sciences, Pro scan Imaging, Resonance Health, Radiant Sage LLC and Other Players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 1.2 billion |
| Market Size by 2031 | US$ 2.14 billion |
| CAGR | CAGR of 7.5% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product and Service Type (Services, Software) • By Modality Type (Computed Tomography, Magnetic Resonance Imaging, Ultrasound, Positron Emission Tomography, X-ray, Echocardiography) • By Therapeutic area Type (Oncology, Infectious Diseases, Neurology, CVS, Endocrinology, Immunological Disorder) • By End User (Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturer, Contract Research Organizations, Academic and Government Research Institutes) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Clinical Trial Imaging Market are as follows: Biomedical Systems Corp, Bio Telemetry, Cardiovascular Imaging Technologies, IXICO plc, Intrinsic Imaging, Med pace, Navetas Life Sciences, Pro scan Imaging, Resonance Health, and Radiant Sage LLC. |
| DRIVERS | • R&D budgets should be increased. • The pharmaceutical and biotechnology industries are seeing rapid growth. • CROs are becoming more prevalent. |
| RESTRAINTS | • Imaging systems are expensive to implement. |
Ans: The Clinical Trial Imaging Market Size was valued at US$ 1.2 Mn in 2023.
Services, Software are the sub segments of Clinical Trial Imaging market.
Key drivers of the Clinical Trial Imaging Market is the pharmaceutical and biotechnology industries are seeing rapid growth, and CROs are becoming more prevalent.
A clinical trial is an important part of the process of developing a pharmacological treatment. Clinical preliminary imaging advances has supported the decrease of medication preliminary expenses. Clinical imaging is a significant piece of the clinical advancement of new life science drugs.
Ans: The Clinical Trial Imaging Market is to grow at a CAGR of 7.5% over the forecast period 2024-2031.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Clinical Trial Imaging Market Segmentation, By Product and Service Type
8.1 Services
8.2 Software
9. Clinical Trial Imaging Market Segmentation, By Modality Type
9.1 Computed Tomography
9.2 Magnetic Resonance Imaging
9.3 Ultrasound
9.4 Positron Emission Tomography
9.5 X-ray
9.6 Echocardiography
10. Clinical Trial Imaging Market Segmentation, By Therapeutic Area Type
10.1 Oncology
10.2 Infectious Diseases
10.3 Neurology
10.4 CVS
10.5 Endocrinology
10.6 Immunological Disorder
11. Clinical Trial Imaging Market Segmentation, By End User
11.1 Pharmaceutical Companies
11.2 Biotechnology Companies
11.3 Medical Device Manufacturer
11.4 Contract Research Organizations
11.5 Academic and Government Research Institutes
12. Regional Analysis
12.1 Introduction
12.2 North America
12.2.1 USA
12.2.2 Canada
12.2.3 Mexico
12.3 Europe
12.3.1 Germany
12.3.2 UK
12.3.3 France
12.3.4 Italy
12.3.5 Spain
12.3.6 The Netherlands
12.3.7 Rest of Europe
12.4 Asia-Pacific
12.4.1 Japan
12.4.2 South Korea
12.4.3 China
12.4.4 India
12.4.5 Australia
12.4.6 Rest of Asia-Pacific
12.5 The Middle East & Africa
12.5.1 Israel
12.5.2 UAE
12.5.3 South Africa
12.5.4 Rest
12.6 Latin America
12.6.1 Brazil
12.6.2 Argentina
12.6.3 Rest of Latin America
13. Company Profiles
13.1 Biomedical Systems Corp
13.1.1 Financial
13.1.2 Products/ Services Offered
13.1.3 SWOT Analysis
13.1.4 The SNS view
13.2 BioTelemetry
13.3 Cardiovascular Imaging Technologies
13.4 IXICO plc
13.5 Intrinsic Imaging
13.6 Med pace
13.7 Navetas Life Sciences
13.8 Pro scan Imaging
13.9 Resonance Health
13.10 Radiant Sage LLC.
14. Competitive Landscape
14.1 Competitive Benchmark
14.2 Market Share Analysis
14.3 Recent Developments
15. Conclusion
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