- In May 2021 IXICO Plc. (UK) signed a contract with biopharmaceutical client IXICO to provide neuroimaging services for a Phase III clinical trial under this contract.
Northbrook, IL 60062 -- (SBWIRE) -- 09/29/2022 -- The global clinical trial imaging market is projected to reach USD 1.4 billion by 2026 from USD 1.0 billion in 2021, at a CAGR of 7.6%.
Increase in R&D spending;
Pharmaceutical and biotechnology companies invest heavily in research to develop breakthrough molecules. Growth in the R&D expenditure by pharmaceutical & biotechnology companies and governments, coupled with the increasing focus on life science projects to develop new therapeutic & diagnostic products, is expected to aid the clinical trial imaging market.
Opportunity: Developing Countries;
Developing countries such as India, South Korea, Brazil, and Mexico offer significant growth opportunities to players operating in the clinical trial imaging market, mainly due to the growing R&D funding in these countries. These developing markets also have a strong trend of commercialization of life science research. With significant developments in life sciences research, these economies are expected to offer high growth opportunities in the market.
Furthermore, Asian markets, especially China and India, have many CROs that offer drug discovery services to pharmaceutical and biotechnology companies. With the significant increase in R&D funding and CROs operating in emerging countries, the demand for clinical trial imaging is expected to increase in these countries in the coming years.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=30446624
"In 2020, services segment accounted for the largest share of the clinical trial imaging market, by product and services"
The market is segmented into services and software based on product and services. The services segment accounted for the largest share of the market in 2020, mainly due to the increase in R&D spending and growth in pharmaceutical and biotechnology industries.
"In 2020, computed tomography segment accounted for the largest share of the clinical trial imaging market, by modality"
The market is segmented into computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray, echocardiography and other modalities based on modality. In 2020, the computed tomography segment accounted for the largest share. Factors such as increasing number of CROs, Increase in R&D spending and growth in pharmaceutical and biotechnology industries drive this market.
"In 2020, oncology segment accounted for the largest share of the clinical trial imaging market, by therapeutic area"
The market is segmented into oncology, infectious diseases, neurology, CVS, endocrinology, immunological disorder and other therapeutic area based on therapeutic area. In 2020, the oncology segment accounted for the largest share. Factors such as Increase in R&D spending and growth in pharmaceutical and biotechnology industries drive this market.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=30446624
"North America is the largest regional market for clinical trial imaging market"
The global market is segmented into five major regions-North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2020, North America accounted for the largest share of the global clinical trial imaging industry. The North American market's growth can be attributed to the, increase in R&D spending, increasing number of CROs, and growth in pharmaceutical and biotechnology industries.
Some key players in the clinical trial imaging market (2021- 2026):
ICON plc. (Ireland), BioTelemetry Inc. (US), Biomedical Systems Corporation (US), Medpace Holdings, Inc. (US), IXICO plc. (UK), Resonance Health Ltd. (Australia), Radiant Sage LLC. (US), BioClinica Inc. (US), Intrinsic Imaging LLC. (US), Cardiovascular Imaging Technologies LLC. (US), Medical Metrics Inc. (US), Prism Clinical Imaging, Inc. (US), Boston Imaging Core Lab LLC. (US), anagram 4 clinical trials (Spain), Lyscaut Medical Imaging Company (Belgium), Calyx Group (UK), Bioseptive Inc. (Canada), ProScan Imaging LLC. (US), Micron Inc. (Japan), Imaging Endpoints LI, LLC (US), Perspectum Ltd. (UK), Pharmtrace klinische Entwicklung GmbH (Germany), WorldCare Clinical, LLC (US)
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=30446624