Worldwide sales of clinical trial imaging devices are predicted to increase at a CAGR of 6.5% from 2023 to 2033. The global clinical trial imaging market is currently valued at US$ 1.15 billion and is thus projected to reach US$ 2.17 billion by the end of the forecast period. The clinical trial imaging market refers to the use of imaging technologies, such as magnetic resonance imaging (MRI), computed tomography (CT), and positron emission tomography (PET), in clinical trials to diagnose and monitor the progress of diseases or conditions being studied.

The need for imaging technologies in clinical trials is predicted to rise in the upcoming years, driven by the rising frequency of chronic illnesses and the demand for more precise and effective diagnostic equipment. The industry is also anticipated to gain from technological advancements and the creation of fresh imaging methods. By service type, modality, and end-user, the market is also divided into segments. Trial design and consulting, operational imaging services, and software and system development are examples of service categories. MRI, CT, PET, among other modalities, are examples. Pharmaceutical and biotechnology firms, contract research organisations (CROs), as well as academic and research organisations, are among the end consumers of clinical trial imaging services.

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Key Segments of Clinical Trial Imaging Industry Research

• By Service :
  • Project & Data Management
  • Operational Imaging Services
  • Reading & Analytical Services
  • Clinical Trial Design & Consultation Services
  • System & Technology Support Services
• By Application :
  • Non-alcoholic Steatohepatitis
  • Oncology
  • Neurology
  • Endocrinology
  • Cardiology
  • Dermatology
  • Hematology
• By End User :
  • Contract Research Organizations
  • Biotechnology & Pharmaceutical Companies
  • Medical Devices Manufacturers
  • Academic & Government Research Institutes
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

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Key Takeaways from Market Study

• The global clinical trial imaging market is expected to increase at a CAGR of 6.5% from 2023 to 2033.
• Sales of project & data management services are expected to rise at a CAGR of 7% during the forecast period.
• Global demand for operational imaging services is predicted to expand at a CAGR of 6% during the next 10 years.
• China's market for clinical trial imaging is predicted to expand at a CAGR of 10.5% through 2033.

Competitive Landscape

• ICON PLC purchased MedPass International, a European CRO, reimbursement, and regulatory consultant, in February 2020. According to reports, this acquisition has aided in the growth of ICON's medical device and diagnostic research services throughout Europe.
• To provide PET imaging clinical trials for evaluating innovative therapies in China, Clario teamed with XingImaging, a radiopharmaceutical production and Positron Emission Tomography (PET) acquisition company, in January 2022. To accelerate the beginning of clinical trials and drug discovery in China, the cooperation provides to share of the combined resources and neuroscience specialists of Clario and XingImaging.

Key Companies Profiled

• Bioclinica, Inc.
• Biomedical Systems Corporation
• Biotelemetry, Inc.
• Cardiovascular Imaging Technologies, LLC
• ERT Clinical
• Icon PLC
• Image Core Lab
• Intrinsic Imaging LLC
• Ixico PLC
• Lyscaut Medical Imaging Company
• Medical Metrics
• Navitas Life Sciences
• Parexel International Corporation
• Perspectum Diagnostics
• Prism Clinical Imaging
• Quotient Sciences
• Radiant Sage LLC
• Resonance Health
• Worldcare Clinical, LLC

Winning Strategy

Key manufacturers of clinical trial imaging solutions are adopting new tactics to improve business operations and profitability through the creation of new products and partnerships with other market participants. The strategic actions taken by these market participants, such as new product launches, conferences, and acquisitions, help them expand and enhance their company's product range, which in turn is increasing revenue share.

• To submit, manage, investigate, report, and transfer medical image data that complies with universal data privacy and international requirements, Bioclinica introduced the SMART technology suite with Medical Imaging, Interactive Response Technology (IRT), and Electronic Data Capture (EDC) in June 2018.

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More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global clinical trial imaging market, presenting historical demand data (2018-2022) and forecast statistics for the period of 2023-2033.

The study divulges essential insights on the market on the basis of service (project & data management, operational imaging services, reading & analytical services, clinical trial design & consultation services, system & technology support services), application (non-alcoholic steatohepatitis, oncology, neurology, endocrinology, cardiology, dermatology, hematology), and end user (contract research organizations, biotechnology & pharmaceutical companies, medical devices manufacturers, academic & government research institutes), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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Original Source of the original story >> Cutting-Edge Imaging Approaches Accelerating Progress in Clinical Trials Imaging Industry