Clinical Trial Imaging Market Analysis and Forecast to 2031: By Product & Service (Services, Software), Modality (Computed Tomography, Magnetic Resonance Imaging, Ultrasound, Positron Emission Tomography, X-ray, Endocardiography), Therapeutic Area (Oncology, Infectious Diseases, Neurology, CVS, Endocrinology, Immunological Disorder), End User (Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturer, Contract Research Organizations, Academic & Government Research Institutes), and Region
The global clinical trial imaging market was valued at USD 1.2 billion in 2021 and it is anticipated to grow at 5.9% CAGR during the forecast period to reach up to USD 2.1 billion by 2031.
Clinical Trial Imaging comprises the use of imaging modalities, analysis services, and software to effectively determine the efficacy of novel medications prior to commercial release. Clinical Imaging techniques are increasingly used in oncology drug clinical trials to provide evidence for the drug’s effectiveness and safety. The imaging systems commonly used in clinical trials comprise Positron Emission Tomography (PET), Optical Coherence Tomography (OCT), Magnetic Resonance Imaging (MRI), and Ultrasound. The growth in the number of cancer diagnoses and deaths worldwide is estimated to drive the market during the projection period. However, the stringent government regulations in the sector are projected to restrict growth opportunities for the Clinical Trial Imaging Industry.
Global Clinical Trial Imaging Market Scope and Report StructureMarket Trends and Drivers
The key factor such as an increase in R&D spending is an increase in R&D spending. Pharmaceutical and biotechnology companies invest heavily in research to develop breakthrough molecules. Growth in the R&D expenditure by pharmaceutical & biotechnology companies and governments combined with the increasing focus on life science projects to develop new therapeutic & diagnostic products is estimated to boost the clinical trial imaging market. Likewise, developing countries such as India, South Korea, Brazil, and Mexico offer significant growth opportunities to players operating in the clinical trial imaging market, mainly owing to the growing R&D funding in these countries. These developing markets also have a strong trend of commercialization of life science research. With significant developments in life sciences research, these economies are anticipated to offer high growth opportunities in the clinical trial imaging market. Moreover, Asian markets, especially China and India, have many CROs that offer drug discovery services to pharmaceutical and biotechnology companies. With the significant increase in R&D funding and CROs operating in emerging countries, the demand for clinical trial imaging is anticipated to boost in these countries in the upcoming years.
Market Restraints and Challenges
The major factor hindering the market growth is the high cost of the clinical trial. Any research related to the advancements in healthcare comprise clinical trials. Clinical trials are an essential part of documenting the effectiveness of innovations, whether for the therapy/drug, medical device, diagnosis, or academic research. While laboratory experiments attempt to stimulate the conditions of the human body, validating the efficacy and safety of drugs in the population of interest remains a necessary step. However, conducting a clinical trial to document the effect of a drug/therapy and monitor its side-effects is a very expensive process.
Global Clinical Trial Imaging Market Segmentation
The report analyses the global clinical trial imaging market based on product & service, modality, therapeutic area, end user, and region.
Global Clinical Trial Imaging Market by Product & Service
Based on product & services, it is segmented into service and software. The service segment accounted for the largest share of the clinical trial imaging market in 2021, mainly owing to the increase in R&D spending and growth in the pharmaceutical and biotechnology industries.
Global Clinical Trial Imaging Market by Modality
Based on modality, it is segmented into computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray, and echocardiography. The computed tomography segment accounted for the largest share. Factors such as the rising number of CROs, increasing R&D spending, and growth in pharmaceutical & biotechnology industries drive this market.
Global Clinical Trial Imaging Market by Therapeutic Area
Based on the therapeutic area, it is segmented into oncology, infectious disease, neurology, CVS, endocrinology, and immunological disorder. The oncology segment is likely to dominate the market during the forecast period. Factors such as rising R&D spending and growth in pharmaceutical & biotechnology industries are driving the market growth.
Global Clinical Trial Imaging Market by End User
Based on the end user, it is segmented into pharmaceutical companies, biotechnology companies, medical device manufacturers, contract research organizations, and academic & government research institutes. The pharmaceutical companies segment accounted for the largest share in the market. The growth in the pharmaceutical & biotechnology companies coupled with an increasing number of CROs and an increase in R&D spending is boosting the growth of the segment.
Geographical Analysis of Clinical Trial Imaging Market
Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the market. The increase in R&D spending coupled with an increase in the number of CROs and growth in the pharmaceutical and biotechnology industries.
Major Players in Global Clinical Trial Imaging MarketCOVID-19 Impact
The emergence of the COVID-19 pandemic has changed the delivery of medical care across the globe. The COVID-19 pandemic has significantly affected the clinical trial imaging market; unfavorable changes in regulations and guidelines, the closing of manufacturing facilities owing to lockdowns, disruptions in supply chains, and recruitment challenges for clinical trials have severely affected the market growth. Adding to that, limited operations in most industries, inadequate funding for research and academic institutes, and challenges in providing essential/post-sales services due to lockdowns have reduced the supply of clinical trial imaging products to emend-users. Moreover, this is a service-intensive market; providing services became difficult owing to restrictions implemented to control the spread of COVID-19. As the pandemic resulted in the temporary closure of several institutes across the world, many ongoing trials were paused owing to the closure of research institutes.
Despite the challenging situation, industries are slowly recovering from the impact, and supply and distribution channels have also resumed. While the number of trials for diseases like HIV and tuberculosis fell, attention was diverted toward COVID-19 diagnostics and therapeutics, which raised the need for clinical trial imaging.
Recent Developments
- May 2021, IXICO Plc signed a contract with biopharmaceutical client IXICO to provide neuroimaging services for a Phase III clinical trial under this contract.
- February 2021, ICON Plc acquired PRA Health Science to strengthen its global healthcare intelligence and clinical research business.
- February 2021, Resonance Health Ltd received CE mark clearance for Hepa Fat AI software for commercialization in the European market.
- January 2021, Bioclinica announced the release of Image Redact AI. Bioclinica is an integrated solutions provider of clinical life science and technology expertise.
- January 2021, Bioclinica acquired Silicon Valley-based Saliency. Bioclinica will integrate the company’s advanced AI technology into its Imaging Platform to support a growing portfolio of pharmaceutical and medical device clients. The integration will dramatically accelerate image QC and interpretation, enabling the rapid development of digital diagnostics and digital therapeutics.
1. How big is the clinical trial imaging market?Ans. The global clinical trial imaging market size was USD 1.2 Billion in 2021 and is anticipated to reach USD 2.1 Billion in 2031, growing at a rate of 5.9% from 2022 to 2031.2. What is the clinical trial imaging market growth rate?Ans. The growth rate of the clinical trial imaging market is 5.9% from 2022 to 2031.3. Which region holds a major market share for the clinical trial imaging market?Ans. North America holds a major market share of the clinical trial imaging market in 2021.4. Which segment accounted for the largest clinical trial imaging market share?Ans. By product & services, the services segment accounted for the largest clinical trial imaging market share.5. Who are the key players in the clinical trial imaging market?Ans. The global clinical trial imaging market report includes players such as ICON plc. (Ireland), BioTelemetry Inc. (US), Biomedical Systems Corporation (US), Medpace Holdings, Inc. (US), IXICO plc. (UK), Resonance Health Ltd. (Australia), Radiant Sage LLC. (US), BioClinica Inc. (US), Intrinsic Imaging LLC. (US), Cardiovascular Imaging Technologies LLC. (US), Medical Metrics Inc. (US), Prism Clinical Imaging, Inc. (US), Boston Imaging Core Lab LLC. (US), anagram 4 clinical trials (Spain), Lyscaut Medical Imaging Company (Belgium), Calyx Group (UK), Bioseptive Inc. (Canada), ProScan Imaging LLC. (US), Micron Inc. (Japan), Imaging Endpoints LI, LLC (US), Perspectum Ltd. (UK), Pharmtrace Klinische Entwicklung GmbH (Germany), WorldCare Clinical, LLC (US).6. What are the factors driving the clinical trial imaging market growth?Ans. The major factors driving the growth of the market are the increasing R&D.7. What are the key growth strategies of clinical trial imaging market players?Ans. The key growth strategies of clinical trial imaging market players are product launch and product approval.8. Which region will provide more business opportunities for the clinical trial imaging market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the clinical trial imaging market during the forecast period.
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- Chapter 1. Market introduction
- 1.1. Objectives of the study
- 1.2. Market definition and research & scope
- 1.3. Research methodologies
- 1.4. Market estimation techniques
- Chapter 2. Executive summary
- 2.1. Summary
- 2.2. Key highlights of the market
- Chapter 3. Clinical Trial Imaging market outlook
- 3.1. Clinical Trial Imaging market segmentation
- 3.2. Market dynamics
- 3.2.1. Market drivers
- 3.2.1.1. Driver 1
- 3.2.1.2. Driver 2
- 3.2.1.3. Driver 3
- 3.2.2. Market restraints
- 3.2.2.1. Restraint 1
- 3.2.2.2. Restraint 2
- 3.2.3. Market opportunities
- 3.2.3.1. Opportunity 1
- 3.2.3.2. Opportunity 2
- 3.3. Porter’s five forces analysis
- 3.3.1. Threat of new entrants
- 3.3.2. Threat of substitutes
- 3.3.3. Bargaining power of buyers
- 3.3.4. Bargaining power of supplier
- 3.3.5. Competitive rivalry
- 3.4. Pestle analysis
- 3.5. Value chain analysis
- 3.5.1. Raw material suppliers
- 3.5.2. Manufacturers
- 3.5.3. Wholesalers and/or retailers
- 3.6. Impact of the Russia and Ukraine war on the global Clinical Trial Imaging market
- Chapter 4. The economic impact of covid-19
- 4.1. Overall impact of covid-19
- 4.2. Impact of covid on the global Clinical Trial Imaging market
- 4.3. Economic impact analysis
- Chapter 5. Clinical Trial Imaging Market by Product & Services
- 5.1. Market overview
- 5.2. Services
- 5.2.1. Market size and forecast, 2021-2031 ($million)
- 5.2.2. Market size and forecast, by region, 2021-2031 ($million)
- 5.3. Software
- 5.3.1. Market size and forecast, 2021-2031 ($million)
- 5.3.2. Market size and forecast, by region, 2021-2031 ($million)
- Chapter 6. Clinical Trial Imaging market by Modality
- 6.1. Market overview
- 6.2. Computed Tomography
- 6.2.1. Market size and forecast, 2021-2031 ($million)
- 6.2.2. Market size and forecast, by region, 2021-2031 ($million)
- 6.3. Magnetic Resonance Imaging
- 6.3.1. Market size and forecast, 2021-2031 ($million)
- 6.3.2. Market size and forecast, by region, 2021-2031 ($million)
- 6.4. Ultrasound
- 6.4.1. Market size and forecast, 2021-2031 ($million)
- 6.4.2. Market size and forecast, by region, 2021-2031 ($million)
- 6.5. Positron Emission Tomography
- 6.5.1. Market size and forecast, 2021-2031 ($million)
- 6.5.2. Market size and forecast, by region, 2021-2031 ($million)
- 6.6. X-ray
- 6.6.1. Market size and forecast, 2021-2031 ($million)
- 6.6.2. Market size and forecast, by region, 2021-2031 ($million)
- 6.7. Echocardiology
- 6.7.1. Market size and forecast, 2021-2031 ($million)
- 6.7.2. Market size and forecast, by region, 2021-2031 ($million)
- Chapter 7. Cancer biomarkers market by Therapeutic Area
- 7.1. Market overview
- 7.2. Oncology
- 7.2.1. Market size and forecast, 2021-2031 ($million)
- 7.2.2. Market size and forecast, by region, 2021-2031 ($million)
- 7.3. Infectious Diseases
- 7.3.1. Market size and forecast, 2021-2031 ($million)
- 7.3.2. Market size and forecast, by region, 2021-2031 ($million)
- 7.4. Neurology
- 7.4.1. Market size and forecast, 2021-2031 ($million)
- 7.4.2. Market size and forecast, by region, 2021-2031 ($million)
- 7.5. CVS
- 7.5.1. Market size and forecast, 2021-2031 ($million)
- 7.5.2. Market size and forecast, by region, 2021-2031 ($million)
- 7.6. Endocrinology
- 7.6.1. Market size and forecast, 2021-2031 ($million)
- 7.6.2. Market size and forecast, by region, 2021-2031 ($million)
- 7.7. Immunological Disorder
- 7.7.1. Market size and forecast, 2021-2031 ($million)
- 7.7.2. Market size and forecast, by region, 2021-2031 ($million)
- Chapter 8. Cancer biomarkers market by End User
- 8.1. Market overview
- 8.2. Pharmaceutical Companies
- 8.2.1. Market size and forecast, 2021-2031 ($million)
- 8.2.2. Market size and forecast, by region, 2021-2031 ($million)
- 8.3. Biotechnology Companies
- 8.3.1. Market size and forecast, 2021-2031 ($million)
- 8.3.2. Market size and forecast, by region, 2021-2031 ($million)
- 8.4. Medical Device Manufacturers
- 8.4.1. Market size and forecast, 2021-2031 ($million)
- 8.4.2. Market size and forecast, by region, 2021-2031 ($million)
- 8.5. Contract Research Organizations
- 8.5.1. Market size and forecast, 2021-2031 ($million)
- 8.5.2. Market size and forecast, by region, 2021-2031 ($million)
- 8.6. Academic & Government Research Institutes
- 8.6.1. Market size and forecast, 2021-2031 ($million)
- 8.6.2. Market size and forecast, by region, 2021-2031 ($million)
- Chapter 9. Clinical Trial Imaging market, by region
- 9.1. Overview
- 9.2. North America
- 9.2.1. Key market trends and opportunities
- 9.2.2. North America Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.2.3. North America Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.2.4. North America Clinical Trial Imaging market size and forecast by country, 2021-2031, ($million)
- 9.2.5. The u.s.
- 9.2.5.1. The u.s. Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.2.5.2. The u.s. Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.2.6. Canada
- 9.2.6.1. Canada Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.2.6.2. Canada Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.2.7. Mexico
- 9.2.7.1. Mexico Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.2.7.2. Mexico Clinical Trial Imaging market size and forecast by end user Product, 2021-2031, ($million)
- 9.3. Europe
- 9.3.1. Key market trends and opportunities
- 9.3.2. Europe Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.3. Europe Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.3.4. Europe Clinical Trial Imaging market size and forecast by country, 2021-2031, ($million)
- 9.3.5. Germany
- 9.3.5.1. Germany Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.5.2. Germany Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.3.6. France
- 9.3.6.1. France Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.6.2. France Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.3.7. U.k.
- 9.3.7.1. U.k. Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.7.2. U.k. Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.3.8. Spain
- 9.3.8.1. Spain Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.8.2. Spain Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.3.9. Italy
- 9.3.9.1. Italy Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.9.2. Italy Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.3.10. Russia
- 9.3.10.1. Russia Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.10.2. Russia Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.3.11. Rest of Europe
- 9.3.11.1. Rest of Europe Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.3.11.2. Rest of Europe Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.4. Asia-pacific
- 9.4.1. Key market trends and opportunities
- 9.4.2. Asia-pacific Clinical Trial Imaging market size and forecast by country, 2021-2031, ($million)
- 9.4.3. Asia-pacific Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.4.4. Asia-pacific Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.4.5. China
- 9.4.5.1. China Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.4.5.2. China Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.4.6. India
- 9.4.6.1. India Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.4.6.2. India Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.4.7. Japan
- 9.4.7.1. Japan Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.4.7.2. Japan Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.4.8. South Korea
- 9.4.8.1. South Korea Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.4.8.2. South Korea Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.4.9. Rest of APAC
- 9.4.9.1. Rest of APAC Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.4.9.2. Rest of APAC Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.5. Rest of the world
- 9.5.1. Key market trends and opportunities
- 9.5.2. Rest of the world Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.5.3. Rest of the world Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.5.4. Rest of the world Clinical Trial Imaging market size and forecast by country, 2021-2031, ($million)
- 9.5.5. Latin America
- 9.5.5.1. Latin America Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.5.5.2. Latin America Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.5.6. Middle east
- 9.5.6.1. Middle east Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.5.6.2. Middle east Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- 9.5.7. Africa
- 9.5.7.1. Africa Clinical Trial Imaging market size and forecast by Product, 2021-2031, ($million)
- 9.5.7.2. Africa Clinical Trial Imaging market size and forecast by end user, 2021-2031, ($million)
- Chapter 10. Competitive landscape
- 10.1. Market overview
- 10.2. Market share analysis/key player positioning
- 10.3. Developmental strategy benchmarking
- 10.3.1. New end user development
- 10.3.2. Product launches
- 10.3.3. Business expansions
- 10.3.4. Partnerships, joint ventures, and collaborations
- 10.3.5. Mergers and acquisitions
- Chapter 11. Company profiles
- 11.1. ICON plc. (Ireland)
- 11.1.1. Company snapshot
- 11.1.2. Financial performance
- 11.1.3. Product offerings
- 11.1.4. Key strategic initiatives
- 11.1.5. SWOT analysis
- 11.2. BioTelemetry Inc. (US)
- 11.2.1. Company snapshot
- 11.2.2. Financial performance
- 11.2.3. Product offerings
- 11.2.4. Key strategic initiatives
- 11.2.5. SWOT analysis
- 11.3. Biomedical Systems Corporation (US)
- 11.3.1. Company snapshot
- 11.3.2. Financial performance
- 11.3.3. Product offerings
- 11.3.4. Key strategic initiatives
- 11.3.5. SWOT analysis
- 11.4. Medpace Holdings, Inc. (US)
- 11.4.1. Company snapshot
- 11.4.2. Financial performance
- 11.4.3. Product offerings
- 11.4.4. Key strategic initiatives
- 11.4.5. SWOT analysis
- 11.5. IXICO plc. (UK)
- 11.5.1. Company snapshot
- 11.5.2. Financial performance
- 11.5.3. Product offerings
- 11.5.4. Key strategic initiatives
- 11.5.5. SWOT analysis
- 11.6. Resonance Health Ltd. (Australia)
- 11.6.1. Company snapshot
- 11.6.2. Financial performance
- 11.6.3. Product offerings
- 11.6.4. Key strategic initiatives
- 11.6.5. SWOT analysis
- 11.7. Radiant Sage LLC. (US)
- 11.7.1. Company snapshot
- 11.7.2. Financial performance
- 11.7.3. Product offerings
- 11.7.4. Key strategic initiatives
- 11.7.5. SWOT analysis
- 11.8. BioClinica Inc. (US)
- 11.8.1. Company snapshot
- 11.8.2. Financial performance
- 11.8.3. Product offerings
- 11.8.4. Key strategic initiatives
- 11.8.5. SWOT analysis
- 11.9. Intrinsic Imaging LLC. (US)
- 11.9.1. Company snapshot
- 11.9.2. Financial performance
- 11.9.3. Product offerings
- 11.9.4. Key strategic initiatives
- 11.9.5. SWOT analysis
- 11.10. Cardiovascular Imaging Technologies LLC. (US)
- 11.10.1. Company snapshot
- 11.10.2. Financial performance
- 11.10.3. Product offerings
- 11.10.4. Key strategic initiatives
- 11.10.5. SWOT analysis
- 11.11. Medical Metrics Inc. (US)
- 11.11.1. Company snapshot
- 11.11.2. Financial performance
- 11.11.3. Product offerings
- 11.11.4. Key strategic initiatives
- 11.11.5. SWOT analysis
- *the list of company is subject to change during the final compilation of the report
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