Clinical Trial Imaging Market Size to Hit USD 2.47 Billion by 2030

According to Nova one advisor, the global Clinical Trial Imaging market was valued at USD 951.8 million in 2021 and is predicted to hit around USD 2.47 billion by 2030 with a CAGR of 8.24% from 2022 to 2030.

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Increasing research and development spending to discover new drugs and therapies to treat chronic diseases is propelling the industry growth. Images obtained from the internal examination of the body are used to determine drug activity. Clinical trial imaging provides rapid, detailed, and accurate screening. The need for clinical trial imaging is rapidly increasing in all phases of trials. Medical imaging in clinical trials is used as a primary, quantitative, and surrogate biomarker.

The clinical trial design includes selecting patient population, stratification based on biomarkers, different methods for allocation treatments, choosing efficient and reliable endpoints and validation of surrogate endpoints, calculating sample size, trial simulations, adaptive trial set-up, statistical and interim analysis, and assisting clients to deal with regulatory authorities such as EMA and FDA to discuss study design or defend study results.

Market players provide analytical testing services, pharmacokinetic, reading, and pharmacodynamics services for enhanced clinical development. IXICO offers advanced technologies for catalyzing clinical trials in neuroscience. Imaging biomarkers by the company help in measuring the safety and effectiveness of therapies used for neuro-imaging. Imaging biomarkers are effective in radiological reads. This provides the reading of MRI scans for central neuro to enhance the assessment of ongoing monitoring of drug safety and subject eligibility

Report Scope of the Clinical Trial Imaging Market

Key Takeaways:

• Project and Data Management Services held the largest share in 2021 due to the growing requirement for data management and workflow for clinical trial imaging
• Operational imaging services held a significant share in 2021 and include imaging modalities such as MRI, CT scan, Ultrasound, Optical Coherence Tomography (OCT), X-rays, and others
• CT Scan modality held the largest share in 2021 due to its non-invasive nature and its ability to provide detailed information about the disease for enhanced treatment
• The other application segment held the largest share in 2021. This segment includes oncology, neurology, and musculoskeletal. Market players such as ICON, Bioclinica, Navitas Life Sciences, and Paraxel International are developing their clinical trial imaging services for these applications
• CROs held the largest share in 2021 due to increasing investments in the field of research and development, snowballing outsourcing activities by the pharmaceutical and biotechnology companies to cut down the cost and time, and patent expiration
• North America dominated this market with the largest share in 2021 due to the increasing geriatric population, along with chronic diseases and growing demand for treatment options

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Regional Insights

North America dominated the global market with over 41.7% share of the global clinical trial imaging market in 2021. This can be attributed to the presence of big outsourcing companies and an increase in R&D in the region. Various factors such as the increasing geriatric population along with growing chronic diseases are anticipated to drive the market in North America. North America performs the highest number of clinical trials. In addition, most outsourcing activities are from North America. Cost is another factor contributing to the outsourcing of clinical trials to other research organizations.

The Europe clinical trial imaging market is driven by factors such as the rapidly growing geriatric population and the increasing prevalence of chronic diseases such as Parkinson’s, Huntington’s, and Alzheimer’s, which are driving the adoption of the clinical trial in this region. In addition, the research laboratories are looking to reduce operational costs, which is leading to the adoption of imaging in clinical trials. Around 4,000 clinical trials of medicines are approved annually in the European Union (EU). The majority of these trials are conducted in Western European countries, but the number of clinical trials of medicines in this region is observed to be decreasing. The clinical trial imaging market in Asia Pacific is anticipated to exhibit the fastest growth during the forecast period. This can be attributed to the rapid growth of the regional population, increased R&D activity in this region, and the growing need for improved therapies.

Some of the prominent players in the Clinical Trial Imaging Market include:

• IXICO plc
• Navitas Life Sciences
• Resonance Health
• ProScan Imaging
• Radiant Sage LLC
• Medpace
• Biomedical Systems Corp
• Cardiovascular Imaging Technologies
• Intrinsic Imaging
• BioTelemetry

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Clinical Trial Imaging market

• Service
  • Clinical Trial Design and Consultation Services
  • Reading and Analytical Services
  • Operational Imaging Services
    • Computed Tomography (CT) ScanMRI (Magnetic Resonance Imaging)
    • X-Ray
    • Ultrasound
    • Optical Coherence Tomography (OCT)
    • Others
  • System and Technology Support Services
  • Project and Data Management
• Application
  • NASH
  • CKD
  • Diabetes
  • Cardiovascular Diseases
  • Others
• End-use
  • Biotechnology and Pharmaceutical companies
  • Medical Devices Manufacturers
  • Academic and Government Research Institutes
  • Contract Research Organizations (CROs)
  • Others

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Benefits for Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global Clinical Trial Imaging industry analysis from 2022 to 2030 to identify the prevailing Clinical Trial Imaging industry opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global Clinical Trial Imaging industry segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global Clinical Trial Imaging industry trends, key players, market segments, application areas, and market growth strategies.

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