The clinical trial imaging global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Clinical Trial Imaging Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The clinical trial imaging market size has grown strongly in recent years. It will grow from $1.32 billion in 2023 to $1.44 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to increased sales and the distribution of clinical imaging software and services, increased risks of breast cancer, increased healthcare spending, rise in healthcare expenditure results in improved infrastructure, increased research and development spending by the pharmaceutical and biotechnological companies.
The clinical trial imaging market size is expected to see strong growth in the next few years. It will grow to $2.07 billion in 2028 at a compound annual growth rate (CAGR) of 9.4%. The growth in the forecast period can be attributed to growing chronic diseases, rising research and development expenditures, an increasing geriatric population, a growing number of clinical studies, and an increasing number of contract research organizations. Major trends in the forecast period include technological advancements enhancing imaging modalities, strategic initiatives by market players to expand capabilities and offerings, adoption of imaging-based approaches in drug development, advancements in molecular imaging and AI-driven analysis, and product innovation.
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Scope Of Clinical Trial Imaging Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Clinical Trial Imaging Market Overview
Market Drivers -The increasing prevalence of chronic diseases is expected to propel the growth of the clinical trial imaging market going forward. Chronic disease is a long-lasting condition that typically requires ongoing medical attention and can limit daily activities or quality of life. The increasing prevalence of chronic diseases is due to exposure to air pollution, chemicals, and toxins, lifestyle changes, and genetic factors. Clinical trial imaging provides efficient monitoring through imaging that can help patients understand their condition and the impact of treatments, improving adherence and satisfaction. For instance, in May 2021, according to the National Library of Medicine, a US-based medicine library, the global cancer burden is expected to be 28.4 million cases in 2040, a 47% rise from 2020, with a large number of deaths. Furthermore, in January 2023, according to the National Center for Biotechnology Information, a US-based intergovernmental organization, in the United States there were 1,958,310 new cancer cases, and 609,820 cancer deaths are projected to occur in 2023. Therefore, the increasing prevalence of chronic diseases drives the clinical trial imaging market.
Market Trends – Major companies operating in the clinical trial imaging market are developing cloud-based image tools to provide better solutions and improve the efficiency of clinical trials. Cloud-based imaging tools are software applications and platforms that utilize cloud computing technology to store, manage, and analyze medical images. For instance, in March 2023, Clarion, a US-based manufacturer of advanced power distribution systems, launched a cutting-edge cloud-based image viewer tool. This innovative tool offers real-time, on-demand viewing and manipulation of high-resolution images, providing read-quality access to images in near real-time while eliminating manual steps that were previously required. It streamlines the image viewing process, eliminating manual steps and making image accessibility easy, secure and data privacy compliant. The tool offers full-resolution viewing and manipulation capabilities, empowering end users to gain valuable insights into their trial subject.
The clinical trial imaging market covered in this report is segmented –
1) By Product And Services: Services, Software
2) By Modality: Computed Tomography, Magnetic Resonance Imaging, Echocardiography, Nuclear Medicine, Positron Emission Tomography, X-Ray, Ultrasound, Optical Coherence Tomography, Other Modalities
3) By Application: Oncology, Neurology, Cardiology, Endocrinology, Dermatology, Hematology, Other Applications
4) By Distributer: Direct Sales, Tender Sales
5) By End User: Contract Research Organizations, Pharmaceutical And Biotechnology Companies, Medical Device Manufacturers, Academic And Government Research Institutes, Other End-Users
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Regional Insights – North America was the largest region in the clinical trial imaging market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical trial imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies – Major companies operating in the clinical trial imaging market are Koninklijke Philips N.V., Labcorp Drug Development, Icon Plc, PPD Inc., Syneos Health, Charles River Laboratories, Parexel International Corporation, Clario, Medpace Inc., Medidata Solution Inc., Biotelemetry Inc., WIRB-Copernicus Group, ProScan Imaging LLC, Invicro LLC, Perspectum , Radiant Sage LLC, Worldcare Clinical LLC , Intrinsic Imaging LLC, Datatrak Inc., IXICO Plc, Calyx Inc., Resonance Health Ltd., Anagram-ESIC SL
Table of Contents
- Executive Summary
- Clinical Trial Imaging Market Characteristics
- Clinical Trial Imaging Market Trends And Strategies
- Clinical Trial Imaging Market – Macro Economic Scenario
- Global Clinical Trial Imaging Market Size and Growth
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- Key Mergers And Acquisitions In The Clinical Trial Imaging Market
- Clinical Trial Imaging Market Future Outlook and Potential Analysis
- Appendix
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