Clinical Trial Imaging Market by Software & Service (Operational Imaging, Trial Design), Modality (CT, MRI, X-Ray, PET, Ultrasound, ECHO), Therapeutic Area (Infectious, Oncology, CNS, CVD), End User (Pharma, Biotech, CROs) & Region - Global Forecast to 20

Clinical Trial Imaging Market by Software & Service (Operational Imaging, Trial Design), Modality (CT, MRI, X-Ray, PET, Ultrasound, ECHO), Therapeutic Area (Infectious, Oncology, CNS, CVD), End User (Pharma, Biotech, CROs) & Region - Global Forecast to 2028

The global clinical trial imaging market is projected to reach USD 1.9 billion by 2028 from USD 1.3 billion in 2023, at a CAGR of 7.8% during the forecast period. The market's expansion is propelled by factors including the expansion of the pharmaceutical and biotechnology sectors, escalated research and development investments, and the proliferation of Contract Research Organizations (CROs). On the other hand, the high implementation cost of the imaging system and high cost of clinical trials are the major factors hindering the growth of this market during the forecast period.

“The service segment accounted for the highest growth rate in the clinical trial imaging market, by service & software, during the forecast period”

The clinical trial imaging market is segmented into services and software based on product. In 2022, the service segment accounted for the highest growth rate in the clinical trial imaging market. Based on type, the services segment is further classified into operational imaging services, reader analysis services, system & technical support services, and trial design consulting services. The growth of this segment is primarily attributed to the rising R&D spending, expanding clinical trials, and the demand for new disease treatment and diagnostics.

“Medical device manufacturers segment accounted for the highest CAGR”

Based on end user, the clinical trial imaging market is segmented into pharmaceutical companies, biotechnology companies, medical devices manufacturers, contract research organizations, academic and government research institutes, and other end users. In 2022, the medical device manufacturers segment accounted for the highest growth rate. This can be attributed to the increasing R&D expenditure and R&D activities by medical device manufacturers and the expanding medical devices market are the primary growth drivers of the medical device manufacturers segment.

“Asia Pacific: The fastest-growing region clinical trial imaging market”

The global clinical trial imaging market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to register the highest CAGR during the forecast period. The surge in research and development investments and the growing inclination towards outsourcing pharmaceutical research to emerging Asian nations are the pivotal catalysts propelling the market's expansion.

The primary interviews conducted for this report can be categorized as follows:

By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%

By Designation: C-level - 27%, D-level - 18%, and Others - 55%

By Region: North America - 51%, Europe - 21%, Asia Pacific - 18%, Latin America – 6%, and the Middle East & Africa – 4%

Prominent companies are 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), Median Technologies (France) and Invicro. LLC. (US).

Research Coverage:

This research report categorizes the clinical trial imaging market by service & software, modality, therapeutic area, end user and region. The scope of the report covers detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the clinical trial imaging market. A detailed analysis of the key industry players has been done to provide insights into their business overview, solutions, and services; key strategies; Contracts, partnerships, agreements, new product & service launches, mergers and acquisitions, and recent developments associated with the clinical trial imaging market. Competitive analysis of upcoming startups in the clinical trial imaging market ecosystem is covered in this report.

Key Benefits of Buying the Report:

The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall clinical trial imaging market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers:

Analysis of key drivers, restraints, opportunities, and challenges influencing the growth of the clinical trial imaging market.

Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the clinical trial imaging market.

Market Development: Comprehensive information about lucrative markets – the report analyses the clinical trial imaging market across varied regions.

Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the clinical trial imaging market.

Competitive Assessment: In-depth assessment of market ranking, growth strategies and service offerings of leading players like ICON plc. (Ireland), BioTelemetry Inc. (US), Biomedical Systems Corporation (US), and Medpace Holdings, Inc. (US), among others in the clinical clinical trial imaging market strategies.