Clinical Trial Imaging Market

Clinical Trial Imaging Market Size

Clinical Trial Imaging Market size was around USD 1.1 billion in 2022 and is expected to reach USD 2.4 billion by 2032 due to the increasing demand for novel products to treat chronic disorders. upsurge in R&D investment and activities, increasing number of clinical trials. For instance, according to ClinicalTrials.gov 2023, there are 452,604 clinical trials registered worldwide, with 64,838 actively recruiting participants. This marks a substantial increase from the approximately 365,000 trials recorded in 2021.

Clinical trial imaging is the process of using advanced medical imaging techniques, such as MRI, CT scans, PET scans, and X-rays, to evaluate the effectiveness and safety of new medical treatments, drugs, or medical devices. It involves the acquisition, analysis, and interpretation of medical images to assess the impact of a treatment on a patient's condition. Clinical trial imaging is crucial in drug development, allowing researchers to visualize disease progression, treatment responses, and potential side effects, aiding in the development of new healthcare solutions.

COVID-19 Impact

The COVID-19 pandemic posed a significant challenge such as delays in ongoing studies and the cancellation of planned trials. Also, regulatory adjustments, supply chain interruptions, recruitment obstacles, concerns about viral transmission, and the shutdown of manufacturers have all negatively affected clinical research. However, the pandemic had also prompted the emergence of virtual trials, offering new prospects. For instance, as per the study in the American Journal of Roentgenology (AJR) suggests that virtual imaging trials, combined with the assessment and improvement of CT and radiography acquisitions through various analytical tools, hold promise for aiding in the management of the pandemic.

Clinical Trial Imaging Market Trends

• Recent years have witnessed significant transformations in clinical research, driven by developments in big data analytics including usage of artificial intelligence, precision therapies, and trial technologies. These changes have fostered closer, more strategic collaborations between sponsors and contract research organizations (CROs). For instance, in December 2021, Calyx, a eClinical and regulatory solutions provider for addressing complex data issues in clinical research, extended its partnership with a top 5 global clinical research organization. This agreement aimed to allow the CRO to continue offering Calyx's established clinical trial management system (CTMS) and services to its biopharmaceutical clients worldwide.
  
• Additionally, growing R&D investments in clinical imaging studies for drug development play a significant role in driving industry expansion. For instance, in October 2023, Kineo finance has invested USD 10 million in Clarix Imaging to further develop their innovative surgical oncology imaging solution. This funding may support the manufacturing expansion and broaden product accessibility through innovative business models.
  

Clinical Trial Imaging Market Analysis

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Based on service, the market is segmented into clinical trial design and consultation services, reading and analytical services, operational imaging, system & technology support services and project and data management. The project & data management services held the largest market share at 32.8% in 2022.

• Clinical trials involving imaging demand comprehensive data management and workflow coordination. These services comprise operational efficiency, designing trial workflows, tracking projects, digital images, overseeing regulations, offering real-time updates, data management, and resolving issues.
  
• Additionally, constant support from government bodies such as the U.S. government has authorized a cloud-based server to safeguard all medical imaging records, including annotated and base images, and ensure report security against natural disasters, enabling swift and effortless retrieval.
  
  

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Based on imaging techniques, the global clinical trial imaging market is classified into magnetic resonance imaging (MRI), computed tomography (CT) scan, ultrasound, positron emission tomography (PET), echocardiography (ECG), X-ray and other imaging techniques. The magnetic resonance imaging (MRI) segment is expected to reach USD 649.7 million by the end of 2032.

• In clinical trials, MRI is frequently used to visualize the effects of investigational drugs, medical devices, or therapeutic interventions on the anatomical and physiological aspects of the human body. It can help researchers and clinicians track changes in tumor size, assess the impact of treatment regimens, and monitor safety concerns.
  
• Moreover, MRI's non-invasive nature is advantageous as it avoids exposing patients to harmful radiation, making it a safe option for longitudinal studies.
  

Based on therapeutic area, the clinical trial imaging market is segmented into central nervous system, oncology, infectious disease, endocrinology & metabolic disorders, diabetes, musculoskeletal, cardiovascular diseases, respiratory, gastroenterology, non-alcoholic steatohepatitis (NASH) and other therapeutic areas.

• Oncology is a dominant therapeutic area in the clinical imaging industry as it heavily relies on medical imaging for oncology / cancer detection, staging, treatment response assessment, and monitoring. This enable early diagnosis, accurate localization, and the evaluation of treatment outcomes.
  
• Further, as cancer remains a leading global health concern, the clinical imaging industry continues to focus on developing and advancing imaging techniques and tools to improve cancer diagnosis and management, which contributes to oncology's prominence in the field.
  

Based on the end users, the clinical trial imaging market is segmented into biotechnology & pharmaceutical companies, medical devices manufacturers, contract research organization (CRO), academics & government research institutes, and other end users.

• CROs offer state-of-the-art services, making them preferred partners for government organizations seeking project outsourcing. For instance, in October 2023, XINGIMAGING, LLC, and MITRO Biotech Co., Ltd., prominent companies in drug development and imaging solutions, have merged to establish a unified entity focused on offering a comprehensive range of CRO & contract development and manufacturing organization (CDMO) services. As a result of this merger, Mitro is expected to enhance its capabilities to offer complete CRO services, encompassing clinical and clinical imaging management, not only in China but also on a global scale.
  

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In 2022, North America held a significant share of 40.3% in the clinical trial imaging market.

• North America boasts a substantial share of the industry. This prominence is driven by a consistent upward trajectory, owing to the region's growing number of clinical trials, a strong focus on healthcare innovation, and the presence of leading pharmaceutical and biotech companies. These organizations heavily rely on clinical trial imaging for the development and validation of novel drugs and medical technologies.
  
• The region's well-developed infrastructure for medical research and development continually pushes the boundaries of imaging modalities, software solutions, and data analysis techniques. Researchers and professionals in North America frequently pioneer new imaging methodologies and incorporate cutting-edge technologies into clinical trials.
  

Clinical Trial Imaging Market Share

The Clinical Trial Imaging industry exhibits moderate competition and features numerous prominent players. Notable players include ICON PLC, Medpace, WCG Clinical, Radiant Sage and Ixico PLC among others. These players employ a strategy such as continuous innovation in imaging technology, worldwide expansion, data security to secure a significant share in the market.

Prominent market players operating in the industry is as mentioned below:

• ICON PLC
• Medidata
• WCG Clinical
• Radiant Sage
• Biomedical Systems Corporation
• Biotelemetry, Inc.
• Image Core Lab
• WCG Clinical
• Ixico PLC
• Medspace Holdings Inc.
• Resonance Health Limited Median Technologies
• WorldCare Clinical
• Navitas Clinical Research, Inc
  

Clinical Trial Imaging Industry News:

• In August 2023, CitiusTech Healthcare Technology Pvt. Ltd. Partnered with Radical Imaging LLC to back development projects based on the open-source web imaging platform namely, Open Health Imaging Foundation (OHIF). This collaboration is expected to harness advanced imaging capabilities in clinical trial sector as well as in overall healthcare sector.
  
• In August 2023, ECLEVAR MEDTECH, a CRO, and the Japanese domestic CRO, Micron, Inc., have agreed to a strategic partnership. Their main goal is to enhance their CRO services, catering to Japanese and international MedTech manufacturers in both the Japanese and overseas markets. This partnership aims to extend their services within the MedTech industry.
  

The clinical trial imaging market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments:

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By Service, 2018 – 2032 (USD Million)

• Clinical trial design and consultation services
• Reading and analytical services
• Operational imaging
• System and technology support services
• Project and data management

By Imaging Technique, 2018 – 2032 (USD Million)

• Magnetic resonance imaging (MRI)
• Computed tomography (CT) scan
• Ultrasound
• Positron emission tomography (PET)
• Echocardiography (ECG)
• X-ray
• Other imaging techniques

By Therapeutic Area, 2018 – 2032 (USD Million)

• Central nervous system
• Oncology
• Infectious disease
• Endocrinology & metabolic disorders
• Diabetes
• Musculoskeletal
• Cardiovascular diseases
• Respiratory
• Gastroenterology
• Nonalcoholic steatohepatitis (NASH)
• Other therapeutic areas

By End user, 2018 – 2032 (USD Million)

• Biotechnology and pharmaceutical companies
• Medical devices manufacturers
• Contract research organization (CRO)
• Academics & government research institutes
• Other end users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East & Africa