12-Jul-2021 | Zion Market Research
Major companies in clinical trial imaging market are Bioclinica Inc, Ixico PLC, Icon PLC, Intrinsic Imaging LLC, Radiant Sage LLC, Parexel International Corporation, Biomedical Systems Worldcare Clinical, Medpace, Navitas Life Sciences amongst others. These players are set to bolster the development of global clinical trial imaging market.
According to analysts at Zion Market Research, the global clinical trial imaging market accounted for more than USD 963.36 Billion in 2020 and is expected to reach more than USD 1568.83 Billion by 2028, growing at a CAGR of 6.54% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Clinical Trial Imaging Market by Services (Project and Data Management, Clinical Trial Design and Consultation, Reading and Analytical, Operational Imaging and Others), By Modality (CT, MRI, PET, Ultrasound, X-Ray and Others), By End Use (Biotechnology and Pharmaceutical companies, Medical Devices Manufacturers, Contract Research Organizations (CROs), Academic and Government Research Institutes and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.”
Urbanization, Rising Middle-class Population and Rising Disposable Income To Spur Growth
“An increase in the number of contract research organizations, in the geriatric population with chronic diseases, and a rise in R&D expenditure are some of the factors that would drive growth of the clinical trial imaging market. Furthermore, the emerging of pharmaceutical and biotechnology sectors, as well as of small and portable equipments market will garner the growth for clinical trial imaging market in the years ahead,” says the author of this study. Pharmaceutical companies have grown in popularity across the world as science and technology have advanced. As the number of pharmaceutical and biotechnology companies grow, it has become increasingly important for manufacturers to provide the finest possible treatment or therapy to end users, as the companies face more competition.
The rise in demand for clinical trial imaging is primarily due to the growing geriatric population and the rising prevalence of chronic diseases. Another factor driving the growth of the clinical trial imaging market is increasing research and development capabilities for drug discovery against a variety of ailments.
With the presence of a large pool of participants, the clinical trial imaging market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). Bioclinica Inc, Ixico PLC, Icon PLC, Intrinsic Imaging LLC, Radiant Sage LLC, Parexel International Corporation, Biomedical Systems Worldcare Clinical, Medpace, Navitas Life Sciences amongst others are some of the key providers of clinical trial imaging across the world.
Several technological patents have been filed to improve image assessment and capturing. Furthermore, imaging core lab players supply unique technologies that are likely to assist pharmaceutical companies in shortening development timelines. For example, IXICO's Assessa reading tool assists in better decision making in clinical trials for memory-related diseases including schizophrenia, Parkinson's, and Alzheimer's disease, as well as neurological illnesses including dementia and cognitive impairment.
Increased Demand and Research and Development Activities to Support Asia Pacific Growth
Regionally, Asia Pacific has been one of leading the worldwide clinical trial imaging and is anticipated to continue to grow in the years to come, states the clinical trial imaging market study. This can be attributed to the region's rapid population expansion and increased research and development activities. In addition, traditional and advanced devices and therapies are in great demand across the Asia Pacific region.
Browse the full “Clinical Trial Imaging Market by Services (Project and Data Management, Clinical Trial Design and Consultation, Reading and Analytical, Operational Imaging and Others), By Modality (CT, MRI, PET, Ultrasound, X-Ray and Others), By End Use (Biotechnology and Pharmaceutical companies, Medical Devices Manufacturers, Contract Research Organizations (CROs), Academic and Government Research Institutes and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/clinical-trial-imaging-market
The global clinical trial imaging market is segmented as follows:
By End Use
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