The global clinical trial imaging system market accounted for USD 963.36 Billion in 2020 and is expected to reach USD 1450.92 Billion by 2028, growing at a CAGR of 6.54% from 2021 to 2028.
Market Overview
The global clinical trial imaging system market accounted for USD 963.36 Billion in 2020 and is expected to reach USD 1450.92 Billion by 2028, growing at a CAGR of 6.54% from 2021 to 2028.
Imaging has traditionally played 3 roles that relate to clinical trials: detection, characterization, and monitoring/assessment. Over the last two decades, the use of imaging in clinical trials has risen exponentially. In many trials, imaging data is increasingly being used to support the primary endpoint. 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 is likely to give opportunities for the clinical trial imaging market to grow. The improvements and advancements in medical imaging technology and their increasing use throughout the world are fuelling the demand for imaging technologies in clinical trials.
COVID-19 Impact Analysis
During the COVID-19 pandemic, the unprecedented demand for hospital services severely hampered the ability to respond to non-acute health requirements. Non-COVID-19-related research activity has had to be curtailed in order to relieve the load on health-care systems, especially imaging and laboratory services. To lower the danger of infection, measures to reduce hospital visits have been implemented.
Imaging, on the other hand, necessitates hospital visits and intimate contact with workers and equipment, both of which might spread disease. Unless cleaned, equipment used to image COVID-19 patients may retain virus on its surface for days. Imaging processing is significantly slowed and throughput is reduced due to the necessity for social distancing and disinfection equipment.
Growth Factors
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.
Report Scope:
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Services Segment Analysis Preview
Project and Data Management segment held a share of around 30% in 2020. This is attributable to the fact that imaging-based clinical trials often need data management and workflow integration involving several stakeholders. Operational expertise and trial workflow development, project tracking, converting scans into digital images, regulatory control & quality assurance, real-time trial status report, setup and management of MRI centers, data management, and reporting and issue resolution are some of the services offered. Few governments across the globe have authorized the use of cloud-based servers that protect all medical imaging information, including annotated and basic pictures, protects reports from natural disasters, and allows for faster and easier retrieval.
End Use Industry Segment Analysis Preview
Biotechnology and Pharmaceutical Comapnies segment will grow at a CAGR of over 5% from 2021 to 2028. This is attributable to the necessity to find innovative treatments and therapies to cure chronic diseases. As the number of biotechnology and pharmaceutical businesses grows, manufacturers must provide the greatest available medicine/drug to end-users to stay competitive. As biotechnology and pharmaceutical firms make more innovative drug discoveries, the need for clinical trial imaging will rise, further boosting the market.
Regional Analysis Preview
North America region held a share of 30% in 2020. This is attributable to the rising prevalence of chronic diseases and the growing geriatric population, the regional market is expected to rise. Aside from that, advancements in healthcare infrastructure have made it possible to diagnose and treat chronic diseases more efficiently. The US Food and Drug Administration (FDA) and other regulatory agencies have also played a key role in achieving trial registration objectives to date. Considering all of these factors, the regional market is expected to maintain its market position over the forecast period.
The Asia Pacific region is projected to grow at a CAGR of around 5% over the forecast period. 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.
Key Market Players & Competitive Landscape
Some of key players 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, Prism Clinical Imaging, Resonance Health, VirtualScopic Inc and BioTelemetric, Inc among others.
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.
The global clinical trial imaging market is segmented as follows:
By Services
By Modality
By End Use
By Region
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Services
FIG NO. 2. Market Attractiveness Analysis, By Modality
FIG NO. 3. Market Attractiveness Analysis, By End Use
FIG NO. 4. Market Attractiveness Analysis, By Region
FIG NO. 5. Global Clinical Trial Imaging Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 6. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 7. Market Revenue Share, By Services, 2020 & 2028
FIG NO. 8. Global Clinical Trial Imaging Market for Project and Data Management, Revenue (USD Billion) 2016 – 2028
FIG NO. 9. Comparative Revenue Analysis of Clinical Trial Imaging Market for Project and Data Management, By Country, 2020 & 2028
FIG NO. 10. Global Clinical Trial Imaging Market for Clinical Trial Design and Consultation, Revenue (USD Billion) 2016 – 2028
FIG NO. 11. Comparative Revenue Analysis of Clinical Trial Imaging Market for Clinical Trial Design and Consultation, By Country, 2020 & 2028
FIG NO. 12. Global Clinical Trial Imaging Market for Reading and Analytical, Revenue (USD Billion) 2016 – 2028
FIG NO. 13. Comparative Revenue Analysis of Clinical Trial Imaging Market for Reading and Analytical, By Country, 2020 & 2028
FIG NO. 14. Global Clinical Trial Imaging Market for Operational Imaging, Revenue (USD Billion) 2016 – 2028
FIG NO. 15. Comparative Revenue Analysis of Clinical Trial Imaging Market for Operational Imaging, By Country, 2020 & 2028
FIG NO. 16. Global Clinical Trial Imaging Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Clinical Trial Imaging Market for Others, By Country, 2020 & 2028
FIG NO. 18. Market Revenue Share, By Modality, 2020 & 2028
FIG NO. 19. Global Clinical Trial Imaging Market for CT, Revenue (USD Billion) 2016 – 2028
FIG NO. 20. Comparative Revenue Analysis of Clinical Trial Imaging Market for CT, By Country, 2020 & 2028
FIG NO. 21. Global Clinical Trial Imaging Market for MRI, Revenue (USD Billion) 2016 – 2028
FIG NO. 22. Comparative Revenue Analysis of Clinical Trial Imaging Market for MRI, By Country, 2020 & 2028
FIG NO. 23. Global Clinical Trial Imaging Market for PET, Revenue (USD Billion) 2016 – 2028
FIG NO. 24. Comparative Revenue Analysis of Clinical Trial Imaging Market for PET, By Country, 2020 & 2028
FIG NO. 25. Global Clinical Trial Imaging Market for Ultrasound, Revenue (USD Billion) 2016 – 2028
FIG NO. 26. Comparative Revenue Analysis of Clinical Trial Imaging Market for Ultrasound, By Country, 2020 & 2028
FIG NO. 27. Global Clinical Trial Imaging Market for X-Ray, Revenue (USD Billion) 2016 – 2028
FIG NO. 28. Comparative Revenue Analysis of Clinical Trial Imaging Market for X-Ray, By Country, 2020 & 2028
FIG NO. 29. Global Clinical Trial Imaging Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 30. Comparative Revenue Analysis of Clinical Trial Imaging Market for Others, By Country, 2020 & 2028
FIG NO. 31. Market Revenue Share, By End Use, 2020 & 2028
FIG NO. 32. Global Clinical Trial Imaging Market for Biotechnology and Pharmaceutical Companies, Revenue (USD Billion) 2016 – 2028
FIG NO. 33. Comparative Revenue Analysis of Clinical Trial Imaging Market for Biotechnology and Pharmaceutical Companies, By Country, 2020 & 2028
FIG NO. 34. Global Clinical Trial Imaging Market for Medical Devices Manufacturers, Revenue (USD Billion) 2016 – 2028
FIG NO. 35. Comparative Revenue Analysis of Clinical Trial Imaging Market for Medical Devices Manufacturers, By Country, 2020 & 2028
FIG NO. 36. Global Clinical Trial Imaging Market for Contract Research Organizations (CROs), Revenue (USD Billion) 2016 – 2028
FIG NO. 37. Comparative Revenue Analysis of Clinical Trial Imaging Market for Contract Research Organizations (CROs), By Country, 2020 & 2028
FIG NO. 38. Global Clinical Trial Imaging Market for Academic and Government Research Institutes, Revenue (USD Billion) 2016 – 2028
FIG NO. 39. Comparative Revenue Analysis of Clinical Trial Imaging Market for Academic and Government Research Institutes, By Country, 2020 & 2028
FIG NO. 40. Global Clinical Trial Imaging Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 41. Comparative Revenue Analysis of Clinical Trial Imaging Market for Others, By Country, 2020 & 2028
FIG NO. 42. Global Clinical Trial Imaging Market Revenue Share, By Region, 2020 & 2028
FIG NO. 43. North America Clinical Trial Imaging Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 44. Porter’s Five Forces Analysis for Global Clinical Trial Imaging Market
FIG NO. 45. PEST Analysis for Global Clinical Trial Imaging Market
FIG NO. 46. Pricing Analysis for Global Clinical Trial Imaging Market
FIG NO. 47. Value Chain Analysis for Global Clinical Trial Imaging Market
FIG NO. 48. Company Share Analysis, 2019
FIG NO. 49. Radar Determinant Chart, 2019
FIG NO. 50. Company Strategic Developments – Heat Map Analysis
FIG NO. 51. Bioclinica Inc. Business Segment Revenue Share, 2020 (%)
FIG NO. 52. Bioclinica Inc. Geographical Segment Revenue Share, 2020 (%)
FIG NO. 53. Market Channels
FIG NO. 54. Marketing Channel Development Trend
FIG NO. 55. Growth in World Gross Product, 2008-2018
FIG NO. 56. Research Methodology – Detailed View
FIG NO. 57. Research Methodology
List of Tables
TABLE NO. 1. Global Clinical Trial Imaging Market: Snapshot
TABLE NO. 2. Quarterly Clinical Trial Imaging Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Clinical Trial Imaging Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Clinical Trial Imaging Market for Project and Data Management, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Clinical Trial Imaging Market for Clinical Trial Design and Consultation, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Clinical Trial Imaging Market for Reading and Analytical, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Clinical Trial Imaging Market for Operational Imaging, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Clinical Trial Imaging Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Clinical Trial Imaging Market for CT, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Clinical Trial Imaging Market for MRI, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Clinical Trial Imaging Market for PET, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Clinical Trial Imaging Market for Ultrasound, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Clinical Trial Imaging Market for X-Ray, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. Global Clinical Trial Imaging Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 17. Global Clinical Trial Imaging Market for Biotechnology and Pharmaceutical Companies, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 18. Global Clinical Trial Imaging Market for Medical Devices Manufacturers, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 19. Global Clinical Trial Imaging Market for Contract Research Organizations (CROs), by Region, 2016 – 2028 (USD Billion)
TABLE NO. 20. Global Clinical Trial Imaging Market for Academic and Government Research Institutes, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 21. Global Clinical Trial Imaging Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 22. Global Clinical Trial Imaging Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 23. North America Clinical Trial Imaging Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 24. North America Clinical Trial Imaging Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 25. North America Clinical Trial Imaging Market Revenue, By Modality, 2016 – 2028 (USD Billion)
TABLE NO. 26. North America Clinical Trial Imaging Market Revenue, By End Use, 2016 – 2028 (USD Billion)
TABLE NO. 27. U.S. Clinical Trial Imaging Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 28. U.S. Clinical Trial Imaging Market Revenue, By Modality, 2016 – 2028 (USD Billion)
TABLE NO. 29. U.S. Clinical Trial Imaging Market Revenue, By End Use, 2016 – 2028 (USD Billion)
TABLE NO. 30. Canada Clinical Trial Imaging Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 31. Canada Clinical Trial Imaging Market Revenue, By Modality, 2016 – 2028 (USD Billion)
TABLE NO. 32. Canada Clinical Trial Imaging Market Revenue, By End Use, 2016 – 2028 (USD Billion)
TABLE NO. 33. Mexico Clinical Trial Imaging Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 34. Mexico Clinical Trial Imaging Market Revenue, By Modality, 2016 – 2028 (USD Billion)
TABLE NO. 35. Mexico Clinical Trial Imaging Market Revenue, By End Use, 2016 – 2028 (USD Billion)
TABLE NO. 36. Drivers for the Clinical Trial Imaging Market: Impact Analysis
TABLE NO. 37. Restraints for the Clinical Trial Imaging Market: Impact Analysis
TABLE NO. 38. Major Buyers of Clinical Trial Imaging
TABLE NO. 39. Distributors/Traders List of Clinical Trial Imaging
TABLE NO. 40. Global Clinical Trial Imaging Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 41. Global Clinical Trial Imaging Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
Request the coronavirus impact analysis across industries and markets
The global clinical trial imaging market was valued at USD 963.36 Billion in 2020.
The global clinical trial imaging market is expected to reach USD 1568.83 Billion by 2028, growing at a CAGR of 6.54% between 2021 to 2028.
Some of the key factors driving the global clinical trial imaging market growth are increase in the number of contract research organizations, in the geriatric population with chronic diseases, and a rise in R&D expenditure, the emerging of pharmaceutical and biotechnology sectors, as well as of small and portable equipments market.
Asia Pacific region held a substantial share of the clinical trial imaging market in 2020. 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.
Some of the major companies operating in the 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, Prism Clinical Imaging, Resonance Health, VirtualScopic Inc and BioTelemetric, Inc. among others.
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