The Global Clinical Trial Imaging Market Size Was Worth USD 1.04 Billion in 2022 And is Estimated to Grow to USD 1.99 Billion By 2030, With a CAGR of Approximately 8.5 % Over the Forecast Period From 2023 To 2030.
Clinical trial imaging is an essential component of the drug development process, which helps in providing crucial information about the safety and efficacy of new drugs. The clinical trial imaging market is experiencing significant growth due to the increasing demand for innovative therapies and the growing need for accurate diagnosis and treatment evaluation.
Several factors are driving the growth of the clinical trial imaging market, including the increasing prevalence of chronic diseases, rising healthcare expenditure, and the growing demand for personalized medicine. Additionally, the expanding number of clinical trials and the rising adoption of digital imaging technology is expected to boost the growth of the market.
The clinical trial imaging market is highly competitive and is characterized by several established players. The market is also witnessing the emergence of several new players, which is intensifying the competition. Additionally, the market is highly regulated, which is expected to impact its growth of the market.
- The clinical trial imaging market is witnessing several recent developments, such as the introduction of new imaging techniques and the development of new drugs for the treatment of various diseases. Additionally, several companies are focusing on developing innovative imaging solutions to improve the accuracy of diagnosis and treatment evaluation.
The Clinical Trial Imaging Market can be segmented based on Service, Application, and End-user.
- Service Insights: Based on Service, the market can be segmented into Clinical Trial Design and Consultation Services, Reading and Analytical Services, Operational Imaging Services, and others. Project and Data Management Services conquered the market with 30% of the market share in 2022. Clinical trials that utilize imaging typically require data management and workflow integration across several groups. These services incorporate operational expertise & trial workflow development, tracking project, converting scans into digital images, regulatory control & quality assurance, real-time trial status report, setup & management of MRI centers, data management, and reporting & issue resolution. The U.S. governance agreed on a cloud-based server that shields all the medical imaging records, such as annotated & base images, and secures reports from any natural disaster, and facilitates faster & easy retrieval.
- Application Insights: Based on Application, the market can be segmented into NASH, CKD, Diabetes, Cardiovascular Diseases, and Others. Nonalcoholic Steatohepatitis (NASH) is anticipated to expand at the quickest CAGR of 8.2% during the forecasted period. The growing burden of NASH due to the increasing prevalence of the disease is anticipated to propel segment expansion. Analyses suggest that the global prevalence of NASH is 25%, with the most elevated in the Middle East and South America and the lowest in Africa. Prevalence for the same is anticipated to rise to 62% by 2030, prompting the demand for its treatment. Consequently, to meet the need, organizations are concentrating on improving clinical trial analyses to assess the significance of treatments used for NASH.
- End-use Insights: Based on end-user, the market can be segmented into Biotechnology and Pharmaceutical companies, Medical Devices Manufacturers, Academic and Government Research Institutes, Contract Research Organizations (CROs), and Others. The Contract Research Organizations (CROs) segment accounted for the biggest share of 45.9% in 2022. This noteworthy market share can be attributed to the snowballing cost of drug development along with the advanced Research & Development activities.
North America conquered the global market with over 41.5% share of the global clinical trial imaging market in 2022. This can be attributed to the presence of large outsourcing companies and an expansion in R&D in the region. Various factors such as the increasing geriatric population along with increasing chronic diseases are anticipated to propel the market in North America. North America serves the most increased number of clinical trials. In addition, most outsourcing movements are from North America. Cost is another element donating to the outsourcing of clinical trials to other research associations.
Key Companies & Market Share Insights
- Some of the key players operating in the global clinical trial imaging market include
- IXICO plc
- Navitas Life Sciences
- Resonance Health
- ProScan Imaging
- Radiant Sage LLC
- Biomedical Systems Corp
- Cardiovascular Imaging Technologies
- Intrinsic Imaging
Segments Covered in the Report
This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2018 to 2030. For this study, Beyond Market Insights has segmented the global clinical trial imaging market based on service, application, end-user, and region:
Clinical Trial Imaging Market by Service Outlook (Revenue, USD Million, 2018 – 2030)
- Clinical Trial Design and Consultation Services
- Reading and Analytical Services
- Operational Imaging Services
- Computed Tomography (CT) ScanMRI (Magnetic Resonance Imaging)
- Optical Coherence Tomography (OCT)
- System and Technology Support Services
- Project and Data Management
Clinical Trial Imaging Market by Application Outlook (Revenue, USD Million, 2018 – 2030)
- Cardiovascular Diseases
Clinical Trial Imaging Market by End-use Outlook (Revenue, USD Million, 2018 – 2030)
- Biotechnology and Pharmaceutical companies
- Medical devises Manufacturers
- Academic and Government Research Institutes
- Contract Research Organizations (CROs)
Clinical Trial Imaging Market by Regional Outlook (Revenue, USD Million, 2018 – 2030)
- North America
- United States
- United Kingdom
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Clinical Trial Imaging Market Report Scope
|Market Size Value in 2022
||USD 1.04 billion
|Revenue Forecast in 2030
||USD 1.99 billion
||CAGR of 8.5% from 2022 to 2030
|Base Year for Estimation
||2017 – 2021
||2023 – 2030
||Revenue in USD million and CAGR from 2023 to 2030
||Revenue forecast, company ranking, competitive landscape, growth factors, and trends
||Service, application, end-use, region
||North America; Europe; Asia Pacific; Latin America; MEA
||U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Thailand; South Korea; Brazil; Mexico; Colombia; Argentina; South Africa; Saudi Arabia; UAE
|Key Companies Profiled
||IXICO plc; Navitas Life Sciences; Resonance Health; ProScan Imaging; Radiant Sage LLC; Medpace; Biomedical Systems Corp; Cardiovascular Imaging Technologies; Intrinsic Imaging; BioTelemetry