Clinical Trial Imaging Market: Increase in the biotechnology and pharmaceutical industries is fueling the growth of the market

Medical imaging plays a prominent role in clinical trials as it can help in providing answers to the critical challenges that occur in drug development process. It takes about 15 years for a drug to move from a laboratory set-up to FDA approval. The chances of a compound getting regulatory approval are minimal as out of 6 to 11,000 compounds that are evaluated in the pre-clinical stage, only 5 are able to make it to the clinical trials and only one of them gets regulatory approval. Medical imaging can help play a crucial role in the product development process as it can reduce the late-stage attrition by gathering more information in the pre-clinical trials of safety, efficacy, and mechanism of action.

Read Report Overview: https://www.transparencymarketresearch.com/clinical-trial-imaging-market.html

Medical imaging applications for pharmaceutical clinical trials include identifying disease predisposition, diagnosing and evaluating lesions and their severity, determining the responder patients, and monitoring therapy effects and their follow-ups. Nuclear imaging techniques such as positron emission tomography (PET) are used to observe drug pharmacokinetics and distribution along with studying the specific molecular endpoints. For drug efficacy studies, use of imaging surrogate endpoints and imaging biomarkers can provide quick results with good statistical power as they help in facilitating small group sizes. In addition, imaging has a huge potential in drug safety assessment during clinical trials in the absence of suitable biomarker. With its widespread applications, medical imaging is witnessing a rapid growth in its use for clinical trials. In fact, medical imaging is used as an endpoint for about half of all clinical trials.

Request Brochure of Report - https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=20354

Factors that are driving the growth of the global clinical trial imaging market are increase in the biotechnology and pharmaceutical industries, rise in the number of contract manufacturing/contract research organizations, and an overall increase in research and development spending. Furthermore, the increasing prevalence of chronic diseases, portability and miniaturization of equipment, and rise in geriatric population are fueling the growth of the market. On the other hand, high cost of installation of these systems and enormous cost of clinical trials are projected to impede the growth of the market. However, the rise in demand for multimodal imaging systems and the growth potential offered by the emerging markets are projected to further boost the growth of the market during the forecast period.

Request for Analysis of COVID-19 Impact on Clinical Trial Imaging Market - https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=20354

The global clinical trial imaging market is segmented into product, end-user, modality, and geography. In terms of product, the market is classified into software and services. The services segment is expected to have a significant share of the market owing to high costs associated with the imaging equipment. The biotechnology and pharmaceutical companies have been forced to outsource imaging clinical trials to service providers owing to the high cost. In terms of modality, the market is divided into PET, MRI, ultrasound, CT, X-Ray, and ECHO. The CT segment is projected to dominate the market. Based on end-user, the market is segmented into biotechnology companies, pharmaceutical companies, contract research organizations, medical device manufacturers, government research and academic institutes, skincare companies, and others. Pharmaceutical companies are projected to account for a prime share of the market.

Request for Custom Research - https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=20354

In terms of geography, the global clinical trial imaging market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the market in terms of size owing to presence of large number of biotechnology and pharmaceutical companies, large R&D spending, and rise in number of contract research organizations (CROs). North America is followed by Europe. The market in Asia Pacific is expected to register a fast growth due to rapid advancements in the health care infrastructure and rise in prevalence of chronic diseases.

The major prominent players operating in the clinical trial imaging market are Cardiovascular Imaging Technologies LLC, Intrinsic Imaging, LLC, PAREXEL International Corporation, BioClinica, Inc, ICON plc, Biomedical Systems, IXICO PLC, WorldCare Clinical, LLC, and VirtualScopics Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Pre Book Clinical Trial Imaging Market Report at https://www.transparencymarketresearch.com/checkout.php?rep_id=20354&ltype=S

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

Browse more Trending Reports by Transparency Market Research:

Retinal Detachment Treatment Market: https://www.transparencymarketresearch.com/retinal-detachment-treatment-market.html

Sterile Dry Powder API Market: https://www.transparencymarketresearch.com/sterile-dry-powder-api-market.html

Surgical Marking Pens Market: https://www.transparencymarketresearch.com/surgical-marking-pens-market-.html

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact

Mr. Rohit Bhisey
Transparency Market Research

State Tower,

90 State Street,

Suite 700,

Albany NY - 12207

United States

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: https://www.transparencymarketresearch.com/

Back to news