Global Clinical Trial Imaging Market Insights Forecasts to 2033

• The Global Clinical Trial Imaging Market Size was Valued at USD 1.96 Billion in 2023
• The Market Size is Growing at a CAGR of 8.57% from 2023 to 2033
• The Worldwide Clinical Trial Imaging Market Size is Expected to Reach USD 4.46 Billion by 2033
• Asia Pacific is Expected to Grow the fastest during the forecast period.

The Global Clinical Trial Imaging Market Size is Anticipated to Exceed USD 4.46 Billion by 2033, Growing at a CAGR of 8.57% from 2023 to 2033.

Market Overview

A clinical trial is a procedure that develops, examines, and assesses the results of novel drugs while considering the impact on humans and possible therapies. Before new drugs are commercialized, extensive clinical testing is done to find promising molecules, and safety testing is done to determine any possible dangers. The clinical trial imaging market is made up of companies that create and produce imaging software and equipment for use in clinical trials, as well as companies that offer imaging services such as image management, analysis, and acquisition. The market is driven by the rising number of clinical trials being carried out globally as well as the growing need for more precise and efficient imaging technologies in clinical trials. Clinical trial imaging is the process of assessing the efficacy and safety of novel medical treatments, drugs, or medical equipment using sophisticated medical imaging techniques like MRIs, CT scans, PET scans, and X-rays. To evaluate how a treatment is affecting a patient's condition, medical picture collection, analysis, and interpretation are required. Drug development relies heavily on clinical trial imaging, which helps researchers understand treatment responses, disease progression, and possible side effects. This visualization aids in the creation of novel healthcare solutions. Technological developments are significantly improving the process of gathering, assessing, and submitting clinical trial imaging data. Clinical research benefits from technology-enabled imaging, particularly image analysis software, in a number of ways, including compliance, data correctness, consistency, and adaptability.

Report Coverage

This research report categorizes the market for the global clinical trial imaging market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global clinical trial imaging market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global clinical trial imaging market.

Driving Factors

It is projected that growing biotechnology and pharmaceutical firms, along with increased spending in research and development to create new pharmaceuticals to treat ailments, will drive market industry expansion. MRIs are commonly used in clinical research for new life science products. The fields of biotechnology and pharmaceuticals are growing, while the medical imaging industry is always changing. This can be attributed to the increasing use of advanced imaging technologies in support of medical device clinical trials, as well as to increased investment in medical imaging companies and mergers and acquisitions. Technology is having a major impact on how imaging data from clinical studies is evaluated, compiled, and submitted. Technology-enabled imaging is quite beneficial for research initiatives, especially when it comes to image processing software. Quality, data correctness, flexibility, and compliance are some of these benefits. Here, readers are controlled and directed through the use of image analysis software to analyze imaging locations.

Restraining Factors

Rising medical costs are a major concern for the healthcare and medical sectors, and numerous stakeholders are collaborating on various initiatives to keep costs under control. In such a scenario, it is challenging for imaging service providers to set aside a sizeable amount of money to purchase pricey equipment like modern radiology and other imaging systems. Purchasing, operating, and maintaining imaging equipment are all included in the cost of adopting an imaging system. These substantial upfront expenditures and continuous upkeep costs have a detrimental effect on the market's growth. To ensure that such equipment is used to its full potential, imaging service companies need to staff experienced radiologists and other skilled workers. These factors restrain the growth of the clinical trial imaging market.

Market Segmentation

The global clinical trial imaging market share is classified into service, modality, and end-use.

• The project and data management segment is anticipated to hold the largest share of the global clinical trial imaging market during the forecast period.    

On the basis of the service, the global clinical trial imaging market is divided into clinical trial design and consultation services, reading and analytical services, project and data management, and system and technology support services. Among these, the project and data management segment is anticipated to hold the largest share of the global clinical trial imaging market during the forecast period.  Imaging-based clinical trials frequently necessitate thorough data management and smooth collaboration among numerous parties. These services cover a wide range of topics, such as operational know-how, trial workflow development, project monitoring, scan-to-digital image conversion, regulatory supervision, quality control, real-time trial progress reporting, MRI center establishment and supervision, data management, reporting, and issue resolution.

• The computed tomography segment is anticipated to hold the highest share of the global clinical trial imaging market during the forecast period.    

On the basis of the modality, the global clinical trial imaging market is divided into computed tomography, ultrasound, magnetic resonance imaging, positron emission tomography, echocardiography, x-ray, and other modalities. Among these, the computed tomography segment is anticipated to hold the highest share of the global clinical trial imaging market during the forecast period. A CT scan is mostly used in clinical trial imaging because of its capacity to give a detailed and exact image of the internal structure of the body. CT scans use X-rays and computer systems to generate complete cross-sectional images of the body, allowing doctors and researchers to determine and measure changes in tissues and organs over time. CT scan systems are non-invasive and proportionally easy to use, as they do not require injection variance agents or radioactive substances.

• The contract research organizations segment is anticipated to hold the largest share of the global clinical trial imaging market during the forecast period.

 On the basis of end-use, the global clinical trial imaging market is divided into pharmaceutical companies, medical device manufacturers, academic and government research institutes, biotechnology companies, contract research organizations, and others. Among these, the contract research organizations segment is anticipated to hold the largest share of the global clinical trial imaging market during the forecast period. The substantial market share might be ascribed to the increasing expense of drug discovery in conjunction with elevated research and development endeavors. The market is expanding because of the growing demand from biotechnology and pharmaceutical companies for research and development activities to be outsourced in order to cut costs. Additionally, partnerships for contract research outsourcing provide state-of-the-art services. Consequently, government agencies favor assigning projects to CROs.

Regional Segment Analysis of the Global Clinical Trial Imaging Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global clinical trial imaging market over the predicted timeframe.

North America is anticipated to hold the largest share of the global clinical trial imaging market over the predicted timeframe. The region's remarkable increase in research and development activities, along with the existence of significant outsourcing businesses, are the main causes of his dominance. In addition, the market in North America is driven by factors including the growing number of seniors and the rising incidence of chronic illnesses. North America is the principal source of outsourcing activity in this industry and leads the world in the sheer quantity of clinical studies undertaken. When deciding which external research firms to use for clinical trials, one of the main considerations is cost. These factors drive the growth of the clinical trial imaging market over the predicted timeframe in the North America region.

Asia-Pacific is anticipated to grow at the fastest rate in the global clinical trial imaging market over the predicted timeframe. This is explained by the population's rapid growth, the region's rising R&D activity, and the expanding demand for better treatments. Phase II clinical trials account for the majority of clinical research undertaken across all areas, an arrangement that has persisted over the last five years. Fast-improving medical technologies and therapies and the rising rate of non-alcoholic steatohepatitis (NASH) clinical trials are driving market growth in Asian nations like India, Japan, South Korea, and China. 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global clinical trial imaging market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Intrinsic Imaging
• BioTelemetry
• ProScan Imaging
• Medpace
• Biomedical Systems Corp
• IXICO plc
• Resonance Health
• Navitas Life Sciences
• Cardiovascular Imaging Technologies
• Radiant Sage LLC
• WCG Clinical
• Medidata
• WorldCare Clinical
• Image Core Lab
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In March 2023, ICON Plc. introduced a strategic collaboration with LEO Pharma to scale clinical trial performance that is patient-centric and affordable, which will aid the company’s overall design of building one of the most constructive and efficient clinical portfolio performance organizations in the industry.

• In May 2023, Cleerly has collaborated with ProScan Imaging to provide personalized solutions for heart health that include analyzing and developing treatment plans for cardiovascular-related problems. The collaboration is predicted to purchase Cleerly’s AI-powered platform to scan coronary CT angiography (CCTA) images.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global clinical trial imaging market based on the below-mentioned segments: 

Global Clinical Trial Imaging Market, By Service

• Clinical Trial Design and Consultation Services
• Reading and Analytical Services
• Project and Data Management
• System and Technology Support Services

Global Clinical Trial Imaging Market, By Modality

• Computed Tomography
• Ultrasound
• Magnetic Resonance Imaging
• Positron Emission Tomography
• Echocardiography
• X-Ray
• Other Modalities

Global Clinical Trial Imaging Market, By End-Use

• Pharmaceutical Companies
• Medical Device Manufacturers
• Academic and Government Research Institutes
• Biotechnology Companies
• Contract Research Organizations
• Others

Global Clinical Trial Imaging Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa