Global Clinical Trial Imaging Market to be Valued $1.97 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Sept. 19, 2022 /PRNewswire/ -- The global clinical trial imaging market is projected to expand at a CAGR of 8.7% from 2022 to 2030, according to a new report by Grand View Research, Inc. the market was approximately valued at USD 851.8 million in 2021. The clinical trial plays a significant role in the enhancement of pharmacological medicine, which in recent times has witnessed an increase in the cost of conducting. Hence, clinical trial imaging has emerged as a substitute method that helps improve the timeline and reduce the cost of drug and clinical trials. Some of the key players in the clinical trial imaging market are IXICO plc, Resonance Health, Medpace, Radiant Sage LLC, and Intrinsic Imaging.

Key Industry Insights & Findings from the report:

• In 2021, owing to the hike in demand for data management and workflow for clinical trial imaging, the Project and Data Management Services contributed for the largest market share.
• The biotechnology and pharmaceutical segment is estimated to expand as a significantly growing segment in the upcoming years.
• Due to the growing geriatric population with chronic diseases along with a demand for better treatment options, North America highly dominated the market with the largest share in 2021.

Read 111 page full market research report for more latest insights, "Clinical Trial Imaging Market Size, Share & Trends Analysis Report By Services (Clinical Trial Design And Consultation Services, Reading And Analytical Services), By End Use, By Application, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Clinical Trial Imaging Market Growth & Trends

The global market is expected to witness massive growth during the forecast period owing to the growing number of research and development initiatives, along with an expansion in the number of pharmaceutical and biotechnological industries. The rapidly increasing need for clinical trial imaging is due to its rapid, detailed, and accurate screening. In clinical trials, medical imaging used as a primary, quantitative, and surrogate biomarkers.  

The 2021 market was dominated by the Project and Data Management Services with a market share of 29% as clinical trials employing imaging specifically demand data management and workflow integration. The services include real-time trial status reports, quality assurance, tracking projects, and more. The clinical trial design comprises of various steps, starting with selecting patient to assist the clients in dealing with regulatory authorities to defend study results.

The COVID-19 pandemic and the unfavorable changes caused by it affected the market severely due to the restrictions implemented. Many research institutions were shut down resulting in delays in results for ongoing trials. Despite this, the market has started recovering gradually although the focus has now shifted from diseases such as HIV and Tuberculosis to COVID-19 diagnostics and therapeutics.

Clinical Trial Imaging Market Report Scope

Clinical Trial Imaging Market Segmentation

Grand View Research has segmented the global clinical trial imaging market based on service, application, end-use, and region:

Service Outlook (Revenue, USD Million, 2018 - 2030) 

• Clinical Trial Design and Consultation Services
• Reading and Analytical Services
• Operational Imaging Services
• Computed Tomography (CT) ScanMRI (Magnetic Resonance Imaging)
• X-Ray
• Ultrasound
• Optical Coherence Tomography (OCT)
• Others
• System and Technology Support Services
• Project and Data Management

Application Outlook (Revenue, USD Million, 2018 - 2030) 

• NASH
• CKD
• Diabetes
• Cardiovascular Diseases
• Others

End-use Outlook (Revenue, USD Million, 2018 - 2030)

• Biotechnology and Pharmaceutical companies
• Medical Devices Manufacturers
• Academic and Government Research Institutes
• Contract Research Organizations (CROs)
• Others

Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Asia Pacific
• India
• China
• Japan
• Thailand
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

List of Key Players in Clinical Trial Imaging Market

• IXICO plc
• Navitas Life Sciences
• Resonance Health
• ProScan Imaging
• Radiant Sage LLC
• Medpace
• Biomedical Systems Corp
• Cardiovascular Imaging Technologies
• Intrinsic Imaging
• BioTelemetry

Check out more related studies published by Grand View Research:

• Clinical Trial Equipment & Ancillary Solutions Market - The global clinical trial equipment & ancillary solutions market is expected to reach USD 5.09 billion by 2030, expanding at a CAGR of 8.1% over the forecast period according to a new report by Grand View Research, Inc. The growing pharmaceutical and medical sectors, globalization of clinical trials, and rising R&D expenditure are the factors driving the market. However, The COVID-19 pandemic has affected the global market, which resulted in slowing down the supply chain of the equipment & ancillary supplies. The COVID-19 pandemic has caused major changes in the clinical trial environment. Hundreds of experiments that were in progress before the pandemic was halted due to COVID-19 globally.
• Optical Imaging Systems Market - The global optical imaging systems market size is expected to reach USD 4.65 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 11.2% from 2022 to 2030. Technological advancements and a rise in the prevalence of ophthalmic disorders are anticipated to boost the growth of the market. Increasing adoption of optical imaging systems in preclinical and clinical studies in the biopharmaceutical and pharmaceutical sector for diagnostic and therapeutic purposes is further projected to drive the market in the years to come.
• Clinical Trial Kits Market - The global clinical trial kits market size is anticipated to reach USD 2.5 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 8.5% from 2021 to 2028. The factors driving market expansion include globalization of clinical trials, increasing demand for remote services, and rising clinical trial complexity.

Browse through Grand View Research's  Medical Devices Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.

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