Clinical Trial Imaging Market is estimated to expand at 5.9% CAGR during the forecast period 2022-2031 | Medpace Holdings, Inc, IXICO plc, Resonance Health Ltd, Radiant Sage LLC

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.

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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.

Market 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.

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Market Segments

By Products & Services

Services

Software

By Modality

Computed Tomography

Magnetic Resonance Imaging

Ultrasound

Positron Emission Tomography

X-ray

Echocardiography

By Therapeutic Area

Oncology

Infectious Diseases

Neurology

CVS

Endocrinology

Immunological Disorder

By End User

Pharmaceutical Companies

Biotechnology Companies

Medical Device Manufacturer

Contract Research Organizations

Academic & Government Research Institutes

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Major Players in Global Clinical Trial Imaging Market

The key players in the global clinical trial imaging market 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).

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