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Clinical Trial Imaging Market Trends

Report ID: GMI7394
Published Date: Nov 2023
Report Format: PDF

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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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market size for clinical trial imaging was around USD 1.1 billion in 2022 and is expected to reach USD 2.4 billion by end of 2032, owing to the increasing demand for novel products to treat chronic disorders.

The magnetic resonance imaging (MRI) segment is expected to reach USD 649.7 million by the end of 2032 as it helps researchers and clinicians track changes in tumor size, assess the impact of treatment regimens, and monitor safety concerns during clinical trials.

North America market share was 40.3% in 2022 and will grow substantially through 2032, 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.

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, and Navitas Clinical Research, Inc.