Clinical Trial Imaging Market (Updated Version Available)
Clinical Trial Imaging Market Size, Share & Trends Analysis, By Product and Services (Services and Software), Modality (X-rays, CT (Computed Tomography, MRI (Magnetic Resonance Imaging), Ultrasound, PET, and Others), Application (Oncology, Neurology, Endocrinology, Cardiology, Dermatology, Hematology, and Others.), End User (Pharmaceutical & Biotechnology Companies, Contract Device Manufacturers, Academic and Government Research Institutes and Others), By Region, Forecast Period 2023 - 2030.
Report ID : RI_673919 | Date : July 2023 |
Format : 
Key Market Overview:
Clinical Trial Imaging Market size was valued at USD 1,355.33 Million in 2022, registering a CAGR of 8.2% during the forecast period (2023-2030), and the market is projected to be worth USD 2,529.16 Million by 2030.
Clinical trial imaging is the utilization of various medical imaging techniques in the context of clinical trials. The major types of clinical trial imaging include X-rays, ultrasound, and Others. Clinical trial imaging is vital for evaluating the safety, efficiency, and effectiveness of new medical, surgical treatments, drugs, devices, and interventions on the human body. As a result of the above benefits, clinical trial imaging is an ideal solution for various end users, including pharmaceutical & biotechnology companies, contract device manufacturers, and others.
The growing prevalence of chronic as well as non-communicable diseases across the globe is one of the major factors driving the growth of the global clinical trials imaging market over the forecast period. For instance, according to the report published by World Health Organization in September 2022, worldwide noncommunicable illnesses kill 41 million individuals every year, which is comparable to 74% of all passings internationally. Cardiovascular sicknesses represent the most noncommunicable passings, or 17.9 million individuals yearly, trailed by tumors, ongoing respiratory illnesses, and diabetes. Moreover, the increasing number of biologics across the globe is also expected to improve the demand for clinical trial imaging across the globe over the forecast period.
Clinical Trial Imaging Market Report Coverage:
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Market Dynamics:
Driver:
Clinical trial imaging is deployed by pharmaceutical and biotechnology companies for the development of new drugs, medications, and trials of those drugs for their efficiency. In addition, clinical trial imaging is beneficial in determining the predisposition of any disease, tract the response of the patient after the drug test, evaluating the severity of the drug and patient, diagnosing lesions, monitoring therapies, and follow-up for the recovery rates. Pharmaceutical and biotechnology companies play a very important role in the clinical trial imaging market, as they utilize technology for the research and development of new and enhanced products.
For instance, in the financial year 2021, Johnson and Johnson, an American multinational pharmaceutical company announced the spending of USD 14.7 billion in the research and development of activities for their pharmaceutical and biotechnology sector, the investment was 21% high from the previous year 2020. Thus, the increasing investments in the development of the pharmaceutical and biotechnology industry are expected to drive the global clinical trial imaging market across the globe.
Restraint:
The major factor affecting the growth of clinical trial imaging is the high cost of imaging systems. There are several factors associated with the cost of clinical imaging systems such as research and development costs, cost of advanced technologies, regulatory compliance, approvals & distribution cost, and others.
For instance, the development of clinical trial imaging systems involves extensive research, engineering, and testing processes. It requires substantial investments in research and development to create advanced clinical imaging technologies that are accurate, efficient, and safe. Furthermore, clinical trial imaging systems require high-end technologies such as high-resolution sensors, advanced image processing algorithms, and sophisticated hardware components.
Incorporation of this advanced equipment in the clinical trial imaging systems increases the efficiency and accuracy of the system by also resulting in the high cost of the end products. Thus, the high cost of clinical trial imaging systems is expected to hamper the growth of clinical trial imaging across the globe over the forecast period.
Opportunities:
In recent years, strategic collaborations related to the development of a new range of clinical trial imaging medicines are increasing the use of clinical trial imaging for various treatments across the global level. This factor is expected to provide lucrative growth opportunities for the growth of the global clinical trial imaging market over the forecast period.
For instance, in June 2023, WCG Clinical, a clinical help, and innovation-producing organization declared the organization with Mint Clinical, which is a producer of picture perusing and revealing programming for clinical daily schedule and examination to use its mint Injury radiology stage for oncology preliminaries. The mint Injury programming is utilized to accomplish normalized PC-helped survey of clinical imaging. Henceforth, the strategic collaborations related to the development of a new range of clinical trial imaging medicines will create a potential for market growth.
Clinical Trial Imaging Market Segmentation:
By Product and Services Type
The product and services type segment are classified into services and software. In 2022, the services segment accounted for the highest market share in the clinical trial imaging market. The service segment also accounted for the fastest-growing segment among the product and services type. Clinical trial imaging services are used in the pharmaceutical industry for various applications. For instance, according to the report by Indian Brand Equity Foundation in August 2021, the pharmaceutical industry in India is increasing with an annual growth rate of 17.7%, and it increased by 13.7% in July 2020. Thus, the significant growth in the pharmaceutical industry in emerging economies across the globe is the key driving factor for the segment growth over the forecast period.
By Modality
The modality segment is divided into x-rays, CT (Computed Tomography), MRI (Magnetic Resonance Imaging), ultrasound, PET and others. In 2022, the CT (Computed Tomography) segment accounted for the highest market share in the clinical trial imaging market. CT (Computed Tomography) is a process in which an X-ray machine is attached to a computer to examine the detailed picture of areas inside the body for diagnosis, research, and treatment applications. CT scans are widely employed for the diagnosis and detection of lung cancer, traumatic brain injuries, and other chronic diseases. For instance, according to the report by the American Cancer Society in January 2023, lung cancer is the leading cause of cancer death in the U.S. which accounted for every 1 in 5 cancer deaths. Hence, the increasing cases of lunch cancer across the major economies across the globe are expected to drive segment growth over the period.
However, the X-ray segment is expected to be the fastest-growing segment during the forecast period. The key benefits associated with the X-ray for clinical trial imaging are the low level of radiation emitted during the X-ray procedure as compared to other procedures. Thus, due to the above benefit, the utilization of X-rays is increasing in the treatment of clinical trial imaging.
By Application
The application segment is categorized into oncology, neurology, endocrinology, cardiology, dermatology, hematology, and others. In 2022, the oncology segment accounted for the highest market share in the clinical trial imaging market. Oncology is the study, treatment, diagnosis, and prevention of tumors and cancers. Clinical trial imaging is deployed in oncology to provide evidence for decision-making. The increasing prevalence of cancer across the globe is the major factor driving the segment growth across the globe over the forecast period. For instance, according to the data published by the National Center for Biotechnology Information in October 2022, the global incidence of new cancer cases across the globe is estimated to have increased by 12.8% in 2025. Thus, the increasing prevalence of cancer cases is accelerating the growth of clinical trial imaging to evaluate drug efficacy. Thus, the increasing adoption of clinical trial imaging in oncology is favoring market growth.
However, cardiology is expected to be the fastest-growing segment over the forecast period owing to the increasing prevalence of clinical trial imaging in the diagnosis and cure of cardiovascular disease is driving the segment growth.
By End User
The end user segment is categorized into pharmaceutical & biotechnology companies, contract device manufacturers, academic and government research institutes, and others. In 2022, the pharmaceutical & biotechnology companies segment accounted for the highest value share in the clinical trial imaging market. In the pharmaceutical & biotechnology industries, clinical trial imaging is used for diagnosis, disease predisposition, and determining patients\' responses and follow-ups. Moreover, clinical trial imaging has a potential application in drug safety assessment during clinical trials. For instance, in September 2022, the United States government announced the initiative for the development of biotechnology and biomanufacturing initiatives across the country. The increasing government initiatives for the development of the biotechnology sector in the major economies are expected to drive segment growth over the forecast period.
However, contract research organizations are expected to be the quickest developing fragment over the gauge period, owing to the increasing number of contract research organizations across the globe which is driving the segment\'s growth.
By Region:
By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, North America accounted for the highest market share in the clinical trial imaging market. The prime factors such as increasing spending on research and development in the pharmaceutical industry across the region are some of the vital aspects accelerating the adoption of clinical trial imaging treatment in the United States. For instance, according to the Congressional Budget Office report in April 2021, the total spending on research and development activities in the United States by the pharmaceutical industries accounted for USD 83 billion. Hence, the advancement of the above industries is accelerating the revenue growth of the market.
Nevertheless, Asia Pacific is expected to be the fastest-growing region over the forecast period due to increasing investment the government bodies across the region in the development of pharmaceutical industries. For instance, in November 2021, The Government of India announced the Production Linked Incentive (PLI), scheme for the development of the pharmaceutical industry across the country. As per the scheme, the pharmaceutical industry across the industry generated an investment of US$ 197.23 billion in March 2023. Thus, a significant increase in investment in the pharmaceutical industry across the country is providing significant growth opportunities for the clinical trial imaging market.
Clinical Trial Imaging Market Competitive Landscape:
The Clinical Trial Imaging market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
• Clario
• Biomedical Systems Corporation
• Biotelemetry, Inc.
• Image Core Lab
• WCG Clinical
• Ixico PLC
• Resonance Health Limited
• Medspace Holdings Inc.
• Median Technologies
• Radiant Sage
Recent Developments
• In May 2021, WCG Clinical, a clinical trial solution provider announced the acquisition of Avaco Group, which is a lifescience consulting firm. The acquisition helped WCG Clinical to expand their product portfolio of solutions based on clinical trials, regulatory compliance and quality management.
Clinical Trial Imaging Market size was valued at USD 1,355.33 Million in 2022, registering a CAGR of 8.2% during the forecast period (2023-2030), and the market is projected to be worth USD 2,529.16 Million by 2030.
Clinical trial imaging is the utilization of various medical imaging techniques in the context of clinical trials. The major types of clinical trial imaging include X-rays, ultrasound, and Others. Clinical trial imaging is vital for evaluating the safety, efficiency, and effectiveness of new medical, surgical treatments, drugs, devices, and interventions on the human body. As a result of the above benefits, clinical trial imaging is an ideal solution for various end users, including pharmaceutical & biotechnology companies, contract device manufacturers, and others.
The growing prevalence of chronic as well as non-communicable diseases across the globe is one of the major factors driving the growth of the global clinical trials imaging market over the forecast period. For instance, according to the report published by World Health Organization in September 2022, worldwide noncommunicable illnesses kill 41 million individuals every year, which is comparable to 74% of all passings internationally. Cardiovascular sicknesses represent the most noncommunicable passings, or 17.9 million individuals yearly, trailed by tumors, ongoing respiratory illnesses, and diabetes. Moreover, the increasing number of biologics across the globe is also expected to improve the demand for clinical trial imaging across the globe over the forecast period.
Clinical Trial Imaging Market Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Million) | 2,529.16 Million |
| CAGR (2023-2030) | 8.2% |
| Base Year | 2022 |
| By Product and Services | Services and Software |
| By Modality | X-rays, CT (Computed Tomography, MRI (Magnetic Resonance Imaging), Ultrasound, PET, and Others |
| By Application | Oncology, Neurology, Endocrinology, Cardiology, Dermatology, Hematology, and Others |
| By End User | Pharmaceutical & Biotechnology Companies, Contract Device Manufacturers, Academic and Government Research Institutes and Others |
| By Geography |
|
| Key Players | Clario, Biomedical Systems Corporation, Biotelemetry, Inc., Image Core Lab, WCG Clinical, Ixico PLC, Resonance Health Limited, Medspace Holdings Inc., Median Technologies and Radiant Sage |
Market Dynamics:
Driver:
Clinical trial imaging is deployed by pharmaceutical and biotechnology companies for the development of new drugs, medications, and trials of those drugs for their efficiency. In addition, clinical trial imaging is beneficial in determining the predisposition of any disease, tract the response of the patient after the drug test, evaluating the severity of the drug and patient, diagnosing lesions, monitoring therapies, and follow-up for the recovery rates. Pharmaceutical and biotechnology companies play a very important role in the clinical trial imaging market, as they utilize technology for the research and development of new and enhanced products.
For instance, in the financial year 2021, Johnson and Johnson, an American multinational pharmaceutical company announced the spending of USD 14.7 billion in the research and development of activities for their pharmaceutical and biotechnology sector, the investment was 21% high from the previous year 2020. Thus, the increasing investments in the development of the pharmaceutical and biotechnology industry are expected to drive the global clinical trial imaging market across the globe.
Restraint:
The major factor affecting the growth of clinical trial imaging is the high cost of imaging systems. There are several factors associated with the cost of clinical imaging systems such as research and development costs, cost of advanced technologies, regulatory compliance, approvals & distribution cost, and others.
For instance, the development of clinical trial imaging systems involves extensive research, engineering, and testing processes. It requires substantial investments in research and development to create advanced clinical imaging technologies that are accurate, efficient, and safe. Furthermore, clinical trial imaging systems require high-end technologies such as high-resolution sensors, advanced image processing algorithms, and sophisticated hardware components.
Incorporation of this advanced equipment in the clinical trial imaging systems increases the efficiency and accuracy of the system by also resulting in the high cost of the end products. Thus, the high cost of clinical trial imaging systems is expected to hamper the growth of clinical trial imaging across the globe over the forecast period.
Opportunities:
In recent years, strategic collaborations related to the development of a new range of clinical trial imaging medicines are increasing the use of clinical trial imaging for various treatments across the global level. This factor is expected to provide lucrative growth opportunities for the growth of the global clinical trial imaging market over the forecast period.
For instance, in June 2023, WCG Clinical, a clinical help, and innovation-producing organization declared the organization with Mint Clinical, which is a producer of picture perusing and revealing programming for clinical daily schedule and examination to use its mint Injury radiology stage for oncology preliminaries. The mint Injury programming is utilized to accomplish normalized PC-helped survey of clinical imaging. Henceforth, the strategic collaborations related to the development of a new range of clinical trial imaging medicines will create a potential for market growth.
Clinical Trial Imaging Market Segmentation:
By Product and Services Type
The product and services type segment are classified into services and software. In 2022, the services segment accounted for the highest market share in the clinical trial imaging market. The service segment also accounted for the fastest-growing segment among the product and services type. Clinical trial imaging services are used in the pharmaceutical industry for various applications. For instance, according to the report by Indian Brand Equity Foundation in August 2021, the pharmaceutical industry in India is increasing with an annual growth rate of 17.7%, and it increased by 13.7% in July 2020. Thus, the significant growth in the pharmaceutical industry in emerging economies across the globe is the key driving factor for the segment growth over the forecast period.
By Modality
The modality segment is divided into x-rays, CT (Computed Tomography), MRI (Magnetic Resonance Imaging), ultrasound, PET and others. In 2022, the CT (Computed Tomography) segment accounted for the highest market share in the clinical trial imaging market. CT (Computed Tomography) is a process in which an X-ray machine is attached to a computer to examine the detailed picture of areas inside the body for diagnosis, research, and treatment applications. CT scans are widely employed for the diagnosis and detection of lung cancer, traumatic brain injuries, and other chronic diseases. For instance, according to the report by the American Cancer Society in January 2023, lung cancer is the leading cause of cancer death in the U.S. which accounted for every 1 in 5 cancer deaths. Hence, the increasing cases of lunch cancer across the major economies across the globe are expected to drive segment growth over the period.
However, the X-ray segment is expected to be the fastest-growing segment during the forecast period. The key benefits associated with the X-ray for clinical trial imaging are the low level of radiation emitted during the X-ray procedure as compared to other procedures. Thus, due to the above benefit, the utilization of X-rays is increasing in the treatment of clinical trial imaging.
By Application
The application segment is categorized into oncology, neurology, endocrinology, cardiology, dermatology, hematology, and others. In 2022, the oncology segment accounted for the highest market share in the clinical trial imaging market. Oncology is the study, treatment, diagnosis, and prevention of tumors and cancers. Clinical trial imaging is deployed in oncology to provide evidence for decision-making. The increasing prevalence of cancer across the globe is the major factor driving the segment growth across the globe over the forecast period. For instance, according to the data published by the National Center for Biotechnology Information in October 2022, the global incidence of new cancer cases across the globe is estimated to have increased by 12.8% in 2025. Thus, the increasing prevalence of cancer cases is accelerating the growth of clinical trial imaging to evaluate drug efficacy. Thus, the increasing adoption of clinical trial imaging in oncology is favoring market growth.
However, cardiology is expected to be the fastest-growing segment over the forecast period owing to the increasing prevalence of clinical trial imaging in the diagnosis and cure of cardiovascular disease is driving the segment growth.
By End User
The end user segment is categorized into pharmaceutical & biotechnology companies, contract device manufacturers, academic and government research institutes, and others. In 2022, the pharmaceutical & biotechnology companies segment accounted for the highest value share in the clinical trial imaging market. In the pharmaceutical & biotechnology industries, clinical trial imaging is used for diagnosis, disease predisposition, and determining patients\' responses and follow-ups. Moreover, clinical trial imaging has a potential application in drug safety assessment during clinical trials. For instance, in September 2022, the United States government announced the initiative for the development of biotechnology and biomanufacturing initiatives across the country. The increasing government initiatives for the development of the biotechnology sector in the major economies are expected to drive segment growth over the forecast period.
However, contract research organizations are expected to be the quickest developing fragment over the gauge period, owing to the increasing number of contract research organizations across the globe which is driving the segment\'s growth.
By Region:
By region, the market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. In 2022, North America accounted for the highest market share in the clinical trial imaging market. The prime factors such as increasing spending on research and development in the pharmaceutical industry across the region are some of the vital aspects accelerating the adoption of clinical trial imaging treatment in the United States. For instance, according to the Congressional Budget Office report in April 2021, the total spending on research and development activities in the United States by the pharmaceutical industries accounted for USD 83 billion. Hence, the advancement of the above industries is accelerating the revenue growth of the market.
Nevertheless, Asia Pacific is expected to be the fastest-growing region over the forecast period due to increasing investment the government bodies across the region in the development of pharmaceutical industries. For instance, in November 2021, The Government of India announced the Production Linked Incentive (PLI), scheme for the development of the pharmaceutical industry across the country. As per the scheme, the pharmaceutical industry across the industry generated an investment of US$ 197.23 billion in March 2023. Thus, a significant increase in investment in the pharmaceutical industry across the country is providing significant growth opportunities for the clinical trial imaging market.
Clinical Trial Imaging Market Competitive Landscape:
The Clinical Trial Imaging market is highly competitive, with several large players and numerous small and medium-sized enterprises. These companies have strong research and development capabilities and a strong presence in the market through their extensive product portfolios and distribution networks. The market is characterized by intense competition, with companies focusing on expanding their product offerings and increasing their market share through mergers, acquisitions, and partnerships. The key players in the market include-
• Clario
• Biomedical Systems Corporation
• Biotelemetry, Inc.
• Image Core Lab
• WCG Clinical
• Ixico PLC
• Resonance Health Limited
• Medspace Holdings Inc.
• Median Technologies
• Radiant Sage
Recent Developments
• In May 2021, WCG Clinical, a clinical trial solution provider announced the acquisition of Avaco Group, which is a lifescience consulting firm. The acquisition helped WCG Clinical to expand their product portfolio of solutions based on clinical trials, regulatory compliance and quality management.
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| Multi user | : $5460 |
| Corporate user | : $7460 |
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