Global Clinical Trial Imaging Service Market by Type (In-house Imaging Service, Central Imaging Service), By Application (Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturers, Research Institutes, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

The Global Clinical Trial Imaging Service Market size is projected to grow at a CAGR of 8.3% from 2021-2028 and reach $X, XXX million by 2028. The major factors driving this growth are the increasing number of clinical trials being conducted globally due to the rise in chronic diseases and an increase in funding for research and development activities. In addition, there will be an increased requirement for diagnostic imaging equipment such as MRI or CT scanners across various medical devices manufacturers which will also boost the demand for these services.

The clinical trial imaging service is the process of using medical equipment to produce images and other data that can be used in drug development or for patient diagnosis. The integrated system uses advanced technologies such as MRI, CT scans, ultrasounds, etc. to produce a picture that can be used to determine the effectiveness of various drugs or medical therapies. Key features of clinical trial imaging service include Global coverage with a single point contact for all imaging services. Clinical trials are conducted in compliance with stringent regulations and guidelines which ensures quality assurance across the study sites. This boosts patient safety and convenience while reducing costs associated with any adverse events or deviations from standard protocols leading to increased efficiency during clinical studies resulting in improved decision-making capabilities, faster time to market, reduced attrition rates, and higher overall revenue generation for pharmaceutical companies as well as medical device manufacturers.

On the basis of Type, the global clinical trial imaging service market is segmented into In-house Imaging Service and Central Imaging Service.

In-house Imaging Service:

In-house Imaging Service is an inpatient imaging service provided to a hospital by its medical staff. In many cases, the presence of this service may be necessary for the proper diagnosis and treatment of patients. In-house imaging service is usually preferred as it enables the doctors to diagnose patients during office hours or even in emergencies. In-house imaging services are provided by pharmaceutical companies or biotechnology companies as a part of their own research and development capabilities. In an in-house capacity, these entities can conduct small clinical trials with more flexibility than outsourcing them to other service providers. This strategy helps them save time and cost involved in doing such studies through existing infrastructure available within the company itself.

Central Imaging Service:

Central Imaging Service is a service for imaging applications that use in-house services and are outsourced externally. It provides customers with the required equipment, supplies, personnel on-site or at a remote location to perform specific tasks like medical image processing, teleradiology, etc. Centralized imaging helps pharmaceutical companies focus on their core activities such as drug discovery by taking care of all non-core processes related to clinical trials including radiology investigations.

On the basis of Application, the global clinical trial imaging service market is segmented into Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturers, Research Institutes, and Others.

Pharmaceutical Companies:

Clinical Trial Imaging Services are used for several purposes by Pharmaceutical Companies. Some of the applications include:

Evaluating drug safety and efficacy by observing the impact of new drugs on different parts of the body. Imaging is used to assess side-effects, like changes in organs such as the heart or liver at regular time intervals during clinical trials. This helps researchers identify any damage caused due to extended use of a particular compound over a specific period (longer than required for therapeutic purposes). For example Liver toxicity test after three months of administration of drug A.

Identifying target population most likely to benefit from therapy through imaging-based phenotyping - monitoring differences in genetics, physiology, and metabolism which may help predict responsiveness to treatment with compounds under development; providing insight into how patients might respond if they are treated with this product versus other therapies available today (e.g., QT prolongation and heart rhythm changes).

Biotechnology Companies:

The application of clinical trial imaging services for Biotechnology companies is to gather, measure, and record data from patients or research participants during a clinical study. This helps in better understanding the target population's response to therapy as well as measuring treatment success rates. Clinical trials are experiments performed with people that can involve potential risks while exploring new treatments or medications under specific conditions. In-house imaging service is used by Biotechnology companies. The use of in-house imaging allows better quality control and data management between test sites, reducing the time for analysis as well as increasing the accuracy of results compared to sending equipment from site to site.

Medical Device Manufacturers:

The application of clinical trial imaging service for medical device manufacturers is to analyze the product’s performance by conducting its simulation test. The most common example is testing a hip replacement or artificial heart implant in simulated conditions such as wet environment, high-impact activities, and flexing muscles. This enables healthcare providers to understand how these products react during actual use.

Research Institutes:

Research Institutes can use clinical trial imaging services for the purpose of collecting and storing medical images. This assists them with studying an individual’s health conditions, along with a number of other benefits. It helps in assessing new drugs, dosage levels, and side effects of existing treatments through images generated by various scientific equipment like MRI (magnetic resonance imaging), CT Scan (computed tomography), or ultrasound scanners.

On the basis of Region, the global clinical trial imaging service market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America dominates clinical trial imaging service in terms of share whereas the Asia Pacific holds high opportunities for growth during the forecast period 2017 to 2028 due to the increasing number of drug approvals across this region which stimulates advantages such as enhanced patient care along with faster time to market. On the other hand, Europe is also expected to grow at a fast pace due to stringent regulations favoring outsourcing services over in-house activities thereby creating significant opportunities for players in this region. The Middle East & Africa on the other hand is projected to grow at a moderate pace due to increasing approvals of novel drugs in emerging countries such as Saudi Arabia, UAE, and Nigeria. The rise in awareness about precision medicine along with the presence of untapped markets are expected to drive growth for players operating across this region over the forecast period 2017-2028.

Growth Factors For The Global Clinical Trial Imaging Service Market:

The factors driving the growth of the global clinical trial imaging service market are increasing R&D investment and spending on new drugs, growing need for precision medicine, rising number of drug approvals in developed regions such as North America and Europe. Moreover, the adoption of digital technologies by pharmaceutical companies is also expected to have a positive impact on this market over the forecast period. Another factor that is expected to fuel the growth of this market over the forecast period is the increasing demand for minimally invasive surgery. This technique reduces recovery time and has lower risk as compared to open surgeries, which in turn drives its adoption rate globally. The rising number of minimally invasive surgical procedures driven by factors such as less patient trauma and the need for fewer hospital visits are also anticipated to have a positive influence on the global clinical trial imaging service market during the forecasted period from 2019-2028.

Up Market Research published a new report titled “Clinical Trial Imaging Service Market research report which is segmented by Types (In-house Imaging Service, Central Imaging Service), By Applications (Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturers, Research Institutes, Others), By Players/Companies Bioclinica, Parexel International Corporation, Icon, Biomedical Systems Corporation (ERT), Biotelemetry, Cardiovascular Imaging Technologies, Intrinsic Imaging, Ixico, Radiant Sage, Worldcare Clinical, Micron, Inc”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Clinical Trial Imaging Service Market Report Segments:

The market is segmented by Type In-house Imaging Service, Central Imaging Service and By Application Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturers, Research Institutes, Others.

Some of the companies that are profiled in this report are:

1. Bioclinica
2. Parexel International Corporation
3. Icon
4. Biomedical Systems Corporation (ERT)
5. Biotelemetry
6. Cardiovascular Imaging Technologies
7. Intrinsic Imaging
8. Ixico
9. Radiant Sage
10. Worldcare Clinical
11. Micron, Inc

Clinical Trial Imaging Service Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Clinical Trial Imaging Service Market

Overview of the regional outlook of the Clinical Trial Imaging Service Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Clinical Trial Imaging Service Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Clinical Trial Imaging Service Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.
6. By Type:

                1. In-house Imaging Service

                2. Central Imaging Service

                1. Pharmaceutical Companies

                2. Biotechnology Companies

                3. Medical Device Manufacturers

                4. Research Institutes

                5. Others

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Clinical Trial Imaging Service Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
• Market Entry Strategies
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Reasons to Purchase the Clinical Trial Imaging Service Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.