Clinical Trial Imaging Services Market to Reach $1.80 Bn, Globally, by 2027 at 5.6% CAGR: Allied Market Research

Rise in the need to outsource imaging in clinical trials and growth in adoption of imaging in clinical trials drive the global clinical trial imaging services market.

News provided by

Allied Market Research

Mar 03, 2021, 08:00 ET

PORTLAND, Ore., March 3, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Clinical Trial Imaging Services Market by Service Type (Clinical Trial Design & Consultation Services, Reading & Analytical Services, Operational Imaging Services, Project & Data Management Services, and Others), End User (Pharmaceutical & Biotechnology Companies, Medical Device Manufacturers, and Academic & Government Research Institutes), and Therapeutic Area (Oncology, Neurology, Endocrinology, Cardiology, Gastroenterology, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global clinical trial imaging services industry garnered $1.31 billion in 2019, and is expected to reach $1.80 billion by 2027, growing at a CAGR of 5.6% from 2020 to 2027.

Download Sample Report at: https://www.alliedmarketresearch.com/request-sample/9828

Drivers, restraints, and opportunities

Rise in the need to outsource imaging in clinical trials, growth in adoption of imaging in clinical trials, and developments in the field of medical imaging technology drive the global clinical trial imaging services market. However, challenges associated with integration of imaging in clinical trials restrain the market growth. On the other hand, progress in image modality creates new opportunities in the coming years.

Covid-19 Scenario

The outbreak of covid-19 impacted the market in various manners including disruptions or cancellations or rescheduling of majority of the clinical trials.
In addition, the industry has witnessed a major drop in demand for imaging clinical trial services during the lockdown.
At the same time, the research related to development of therapeutics for COVID-19 has fueled the demand to certain extent.
Nevertheless, the government bodies have now introduced certain relaxations in various regions. Owing to which the industry is recovering and is expected to recoup soon.

The project and data management services segment to maintain its lead status in terms of revenue throughout the forecast period

Based on service type, the project and data management services segment accounted for around one-third of the total share of the global clinical trial imaging services market in 2019, and is expected to maintain its lead status in terms of revenue throughout the forecast period. In addition, the same segment is estimated to portray the highest CAGR of 6.8% from 2020 to 2027, owing to the high cost associated with performing these tasks in house, which leads to the need to outsource them.

Enquiry for Short-term and Long-term Impacts of COVID-19 at: https://www.alliedmarketresearch.com/purchase-enquiry/9828

The animal feed segment to maintain its leadership position during the forecast period

Based on end user, the pharmaceutical and biotechnology companies segment contributed to the highest market share with more than two-thirds of the global clinical trial imaging services market in 2019, and is estimated to maintain its leadership position during the forecast period. Furthermore, the segment is estimated to generate the fastest CAGR of 5.9% from 2020 to 2027. This is attributed to constant change in needs related to clinical trials.

North America to dominate the market throughout the forecast period

Based on region, North America accounted for the highest share based on revenue, holding nearly two-fifths of the total share of the global clinical trial imaging services market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is attributed to surge in use of imaging as an endpoint in clinical trials and availability of major market players in this province. However, Asia-Pacific is estimated to portray the fastest CAGR of 7.4% from 2020 to 2027, owing to rise in awareness related to use of imaging in clinical trials and rise in number of clinical trials conducted in the region.

Leading market players

BioClinica, Inc.
Biospective Inc.
Calyx
ERT Clinical
Icon Plc
IXICO plc
Intrinsic Imaging LLC
Imaging Endpoints
Micron Inc
Median Technologies
Medpace Inc.
Pharmtrace
ProScan Imaging.

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.

Similar Reports:

Proteomics Market by Component (Instruments, Reagents, and Services) and Application (Drug Discovery, Disease Diagnosis, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2027

U.S. Topical Pain Relief Market by Therapeutic Class (Non-Opioids and Opioids), Formulation (Cream, Gel, Spray, Patch, and Others), Type (Prescription Pain Relief and Over-the-Counter Pain Relief), and Distribution Channel (Pharmacies & Drug Stores, E-Commerce, and Retail & Grocery Stores): Opportunity Analysis and Industry Forecast, 2020–2027

Inhaled Nitric Oxide Market by Application (Neonatal Respiratory Treatment, Chronic Obstructive Pulmonary Disease (COPD), Acute Respiratory Distress Syndrome (ARDS), and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027

U.S. Pain Management Drugs Market by Drug Class, (NSAIDS, Anesthetics, Anticonvulsant, Anti-Migraine Drugs, Antidepressant Drugs, Opioids, Non-Narcotics, and Analgesics), Indication (Arthritic Pain, Neuropathic Pain, Cancer Pain, Chronic Pain, Post-Operative Pain, Migraine, Fibromyalgia, Bone Fracture, Muscle Sprain/Strain, Acute Appendicitis, and Other Indications), Pain Type (Chronic and Acute): Opportunity Analysis and Industry Forecast, 2020–2027

Contraceptive Drugs Market by Product (Oral Contraceptive Pills, Injectable Contraceptives, and Topical Contraceptives), Age Group (15–24 Years, 25–34 Years, 35–44 Years, and Above 44 Years), and End User (Homecare, Hospitals, and Clinics): Global Opportunity Analysis and Industry Forecast, 2020–2027

Surgical Equipment Market by Product (Sutures & Staplers, Handheld Surgical Instruments, Electrosurgical Devices, Others), Category (Reusable Surgical Equipment and Disposable Surgical Equipment), and Application (Neurosurgery, Plastic & Reconstructive Surgeries, Wound Closure, Urology, Obstetrics & Gynecology, Thoracic Surgery, Microvascular, Cardiovascular, Orthopedic Surgery, Laparoscopy, Ophthalmic Application, Veterinary Application, Dental Application, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research