The Insight Partners published latest research report on “Clinical Trial Imaging Market Share Report, Size, Growth, Demand & Forecast to 2028 - COVID-19 Impact and Global Analysis By Modality, Offering, and End User”, the global market size is expected to reach USD 2,480.32 million by 2028 from USD 1,610.70 million in 2022;
The Insight Partners published latest research report on “Clinical Trial Imaging Market Share Report, Size, Growth, Demand & Forecast to 2028 - COVID-19 Impact and Global Analysis By Modality, Offering, and End User”, the global market size is expected to reach USD 2,480.32 million by 2028 from USD 1,610.70 million in 2022; it is estimated to record a CAGR of 7.6% from 2023 to 2028.
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Global Clinical Trial Imaging Market: Competitive Landscape and Key Developments:
eResearch Technology Inc, Calyx Inc, ICON PLC, VIDA Diagnostics Inc, WCG Clinical Inc, BioTelemetry Inc, Medical Metrics Inc, Medpace Holdings Inc, Radiant Sage LLC, and IXICO plc are a few of the key companies operating in the clinical trial imaging market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name. A few of the recent developments in the global clinical trial imaging market are mentioned below:
In March 2023, Clario, a healthcare research technology company that delivers leading endpoint technology solutions for clinical trials, announced a partnership with Strados Labs to provide the FDA-approved RESP Biosensor for clinical trials. This innovative, wearable device is lightweight, comfortable, and noninvasive, with novel capabilities such as objective assessment of crackles, rhonchi, and wheeze events, as well as a streamlined approach for at-home cough monitoring in study subjects.
In December 2022, GLO Healthcare (GLO), an expanding healthcare platform created by CapVest Partners LLP (CapVest), completed the acquisition of Calyx, a leading provider of mission-critical software and tech-enabled services to the fast-growing clinical research market.
In July 2021, WCG announced the acquisition of Intrinsic Imaging, a leading global provider of core lab medical imaging services.
Clinical trial imaging is a key asset in the drug development process as it offers efficacy evaluation and safety monitoring data required for regulatory submission. Additionally, imaging offers insights into the drug’s mechanism of action (MOA) and effects that assist researchers in making scientific decisions. For example, in late-phase trials, medical imaging can be utilized as an imaging biomarker to improve clinical trial efficacy and reduce the time to complete a given trial.
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Global Clinical Trial Imaging Market Share Report, Segmentations, Regional & Country Scope:
| Report Coverage | Details |
| Market Size Value in | USD 1,610.70 million in 2022 |
| Market Size Value by | USD 2,480.32 million by 2028 |
| Growth rate | CAGR of 7.6% from 2023 to 2028 |
| Forecast Period | 2023-2028 |
| Base Year | 2022 |
| No. of Pages | 186 |
| No. of Tables | 84 |
| No. of Charts & Figures | 76 |
| Historical data available | Yes |
| Segments covered | Modality, Offering, and End User |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Companies Covered | eResearch Technology Inc, Calyx Inc, ICON PLC, VIDA Diagnostics Inc, WCG Clinical Inc, BioTelemetry Inc, Medical Metrics Inc, Medpace Holdings Inc, Radiant Sage LLC, IXICO plc |
Browse key market insights spread across 186 pages with 84 list of tables & 76 list of figures from the report, “Clinical Trial Imaging Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Modality [Tomography, Magnetic Resonance Imaging (MRI), Ultrasound, Positron Emission Tomography (PET), X-Ray, Echocardiography, and Others], Offering (Operational Imaging Services, Imaging Software, Read Analysis Services, Trial Design and Consulting Services, and Others), and End User [Contract Research Organizations (CROs), Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, and Others]” in detail along with the table of contents: https://www.theinsightpartners.com/reports/clinical-trial-imaging-market
Spur in Number of CROs Offering Medical Imaging Services Drives Global Clinical Trial Imaging Market Growth:
Clinical research organizations (CROs) assist in the successful implementation of clinical trials through the services offered using high-quality facilities and deep subject matter expertise. CROs have begun acting as a backbone of the clinical trial industry through their efficient and cost-effective operations that benefit trial sponsors. For example, on average, CROs take 30% lesser time than in-house activity to conduct and complete clinical trials.
With the rising number of CROs leading to high competition, some of these businesses offer specialized imaging services, thus emerging as imaging CROs (iCROs). Keosys Medical Imaging and Medica Group PLC are popular examples of iCROs. The total number of clinical trials has doubled since 2010, and the use of imaging modalities in these trials has increased by almost 500%. Per a report by KEOSYS MEDICAL IMAGING company, iCROs allocate 7.5–10% of their budgets for imaging, which helps them optimize their workflow to manage every step of the process from image acquisition to interpretation. These CROs offer key knowledge insights in areas such as site qualification for imaging, acquisition of standardized images, and determination of read designs and criteria, thereby contributing to the growth of the overall clinical trial imaging market.
The rising number of clinical trial activities for new drug development and innovative product launches is likely to trigger the growth of the clinical trial imaging market in Europe during the forecast period. Germany holds the largest share of the clinical trial imaging market in this region. Cancer, cardiovascular diseases, nervous system disorders, and infectious diseases are the most frequently studied conditions in clinical trials in Germany. Clinical research studies in this country benefit from a well-established infrastructure for transport, communication, energy, and public services, along with the availability of a large patient pool and high for quality healthcare. Coordinating centers for clinical trials were established as part of a new funding program under the Federal Ministry of Education and Research to strengthen academic clinical research. Therefore, Germany’s clinical trial approval processes are standardized, reliable, transparent, and approved for relatively short study start-up timelines. Top CROs in Germany provide clinical trial imaging software for imaging studies. “ERICA” by Pharmtrace, a Berlin-based CRO, provides a flexible platform for clinical trial image management, combining regulatory compliance for the collection, centralization, and QC of clinical trial medical images. ERICA was developed and validated by Pharmtrace for real-life clinical trials to document and make clinical imaging GCP compliant.
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The report segments the clinical trial imaging market as follows:
Global Clinical Trial Supplies Market – By Product & Service
- Logistics & Distribution
- Manufacturing
- Packaging & Labelling
Global Clinical Trial Supplies Market – By Stage
- Phase III
- Phase II
- Bioequivalence Studies
- Phase I
Global Clinical Trial Supplies Market – By Drug Type
- Small-molecule Drugs
- Biologic Drugs
Global Clinical Trial Supplies Market – By Application
- Oncology
- Cardiovascular Diseases
- Neurological Disorders
- Respiratory Disorders
- Others
Clinical Trial Supplies Market – By Geography
- North America
- US
- Canada
- Mexico
- Europe
- France
- Germany
- Italy
- UK
- Spain
- Rest of Europe
- Asia Pacific
- China
- India
- South Korea
- Japan
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
- South America
- Brazil
- Argentina
- Rest of South America
Company Profiles:
- Catalent, Inc.
- Thermo Fisher Scientific, Inc.
- Almac Group
- Parexel International Corporation
- Biocair
- UDG Healthcare plc (Sharp)
- PCI Healthcare Services
- Owens & Minor Inc.
- KLIFO
- Rubicon Research Pvt. Ltd.
Go through further research published by The Insight Partners: (Purchase with 10% Instant Discount):
Clinical Trials Market Forecast to 2028 - Covid-19 Impact and Global Analysis
Clinical Trial Management System (CTMS) Market Forecast to 2028 - Covid-19 Impact and Global Analysis
Clinical Trial Supplies Market Forecast to 2027 - COVID-19 Impact and Global Analysis
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