MELBOURNE, Feb. 15, 2023 (GLOBE NEWSWIRE) -- A recent study report released by Data Bridge Market research titled “Clinical Trial Imaging Market” guarantees you will remain better informed than your competition. Brilliant practice models and method of research applied while preparing the Clinical Trial Imaging market research report reveals the best opportunities to thrive in the market. It encompasses a methodical investigation of the existing scenarios of the global market, which takes into account several market dynamics. This market document has been formulated with thorough market analysis carried out by a team of industry experts, dynamic analysts, skillful forecasters, and well-informed researchers. And for the same, the finest Clinical Trial Imaging report contains all the major topics of the market research analysis that includes market definition, market segmentation, competitive analysis, major developments in the market, and excellent research methodology.
The rising technological progressions in clinical trial imaging for the diagnosis and treatment of chronic diseases are expected to drive market growth. Data Bridge Market Research analyses that the global clinical trial imaging market will grow at a CAGR of 8.1% during the forecast period of 2022 to 2029.
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The increasing demand for imaging technology, followed by rise in the prevalence of chronic diseases due to rise in elderly population and strategic initiatives by market players such as product launch, advancement, acquisition and agreements are the factors that are expected to drive the market growth. Clinical trial is a process of developing new drugs. It is designed for potential treatment and its effects on humans. Before the commercialization of new drugs, extensive clinical testing is done to identify promising compounds and safety tests are conducted to determine the possible risks.
In clinical trials, medical imaging plays a significant role in more accurate and effective results. Different imaging technologies may be used to elucidate and demonstrate the mechanistic actions of drugs. Clinical trial imaging is the process of clinical analysis and medical intervention by creating image representations of inner parts of the body. It has several different technologies which are used to view the human body to monitor, treat and diagnose medical conditions.
In the coming future, important decisions related to clinical trial imaging on drug discovery will be made by individuals who not only understand the biopsy but can also use the clinical trial imaging tools and the knowledge they release to develop hypotheses and identify quality targets.
The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.
Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Clinical Trial Imaging market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.
Leading businesses in the worldwide Clinical Trial Imaging market are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.
Competitive Landscape
The research promotes high-end commercialization and profit-steering opportunities, and it takes market dimensions and volatility into account.
This section of the report also focuses on accurately decoding the competitive landscape with astute high-end identification of frontline players, complete with an in-depth analytical study of their business choices and investment discretion, to ensure thoroughly impeccable investor participation and noteworthy growth prospects.
To ensure a smooth ride and hopeful business returns despite numerous odds and unprecedented hurdles, this research has carefully gauged facts pertaining to portfolio advancements, geographical presence, and other essential market details.
Recent Developments
- In January 2022, Clario partnered with XingImaging, a radiopharmaceutical production and Positron Emission Tomography (PET) acquisition company, to deliver PET imaging clinical trials for testing novel therapeutics in China. The partnership offers to share the joint resources and neuroscience experts of Clario and XingImaging to expedite the start-up of clinical trials and drug discovery in China.
- In November 2021, Clario was formed. ERT and Bioclinica, merged to form Clario. The formation of the new company resulted in the distribution of clinical imaging software and services and rise in sales.
The Clinical Trial Imaging Market is Dominated by Firms Such as
- Navitas Life Sciences,
- Resonance Health Analytical Services,
- BioTelemetry,
- a Philips Company, IXICO plc,
- ICON plc,
- Image Core Lab,
- anagram 4 clinical trials,
- Quotient Sciences,
- Radiant Sage LLC,
- WORLDCARE CLINICAL,
- Clario,
- Paraxel International Corporation,
- Median Technologies,
- Perspectum,
- Calyx,
- WIRB-Copernicus Group and
- Invicro.LLC
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Opportunities:
- Rise in Healthcare Expenditure
Healthcare expenditure has increased across the world as people's disposable income in various countries is increasing. Moreover, to accomplish the population requirements, government bodies and healthcare organizations are taking the initiative by virtue of accelerating healthcare expenditure.
For instance,
- National Health Expenditure Accounts (NHEA) published a report which stated that the U.S. healthcare expenditure grew by 4.6% in 2019. This estimates USD 3.80 trillion for the overall U.S. population reported by U.S. Centers for Medicare (CMS) and GDP health, spending in the U.S. is accounted to reach 17.7%.
Growing healthcare expenditure is also beneficial for further growth in the economic and healthcare sector and it is primarily fruitful as it significantly affects the development of better and advanced medical products in the market. Therefore, the surge in healthcare expenditure is expected to create a greater opportunity for the market.
- Strategic Initiatives by Market Players
The demand for clinical trial imaging is increasing in the market owing to the increased levels of R&D along with the growth of clinical trial imaging market aided by the desire for innovative medications. Thus, the top market players have implemented a new strategy by developing new products and collaborating with other market players to improve business operations and profitability.
For instance,
- In February 2020, ICON plc acquired MedPass International, a European medical devices CRO, reimbursement and regulatory consultancy. This acquisition has reportedly helped in the expansion of the medical device and diagnostic research services of ICON in Europe.
These strategic initiatives by the market players, including acquisition, conferences and focused segment product launches, are helping them grow and improve the company's product portfolio, ultimately leading to more revenue generation. Hence, these strategic initiatives by the market players may act as an opportunity for market growth.
Key Market Segments Covered in Clinical Trial Imaging Industry Research
Product and Services
- Services
- Software
Modality
- Computed Tomography
- Magnetic Resonance Imaging
- Echocardiography
- Nuclear Medicine
- Positron Emission Tomography
- X-ray
- Ultrasound
- Optical Coherence Tomography
- Others
Application
- Oncology
- Neurology
- Cardiology
- Endocrinology
- Dermatology
- Hematology
- Others
End user
- Contract Research Organizations
- Pharmaceutical & Biotechnology Companies
- Medical Device Manufacturers
- Academic and Government Research Institutes
- Others
Distributor
- Direct Sales
- Tender Sales
Key Industry Drivers:
- Rising R&D Expenditure
Imaging and pharma companies are continuously investing in R&D to offer innovative services for clinical trial imaging to customers and enhance their market presence. Medical imaging plays a dynamic role in clinical development. While the medical imaging industry is in a constant state of fluctuation due to implementation of new technologies in the market, the pharmaceutical and imaging industries continue to increase. This is attributed to enhanced investment in medical imaging companies along with mergers and acquisitions as well as the adoption of innovation in imaging technologies to support clinical trials for medical devices. Increasing R&D expenditure in pharmaceutical and biotechnological companies is fuelling market growth.
This has encouraged the development of new products and high research-oriented programs organized in biopharmaceutical industries and a high preference for the studies of human genome. Rising expenditure on R&D activities also develops new drugs and therapies to treat chronic diseases that boost market growth. This helps the pharmaceutical and biotechnological companies in the development of new technologies in the category of imaging clinical trials therefore, rising R&D expenditure is expected to drive the market growth.
- Increasing Number of Contract Research Organizations (CROs)
Contract Research Organization (CRO) is an organization that gives support for clinical trials and other research services to imaging and pharmaceutical industries in the form of outsourced pharmaceutical research services in terms of both drugs and medical devices. CRO helps imaging and pharmaceutical industries with the drug development process to reduce the cost and initiate the process of bringing clinical trials to develop the drug for a particular disease segment by using clinical trial imaging and other processes to overcome capacity gaps of the in-house research team for pharmaceutical and clinical research.
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Clinical Trial Imaging Market Regional Analysis/Insights:
The countries covered in this Clinical Trial Imaging Market Report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, rest of Europe, China, Japan, South Korea, India, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines and Rest of Asia-Pacific, South Africa, Saudi Arabia, rest of Middle East and Africa, Brazil and rest of South America.
The U.S. dominates the North America region since it provides better reimbursement than any other physician providers followed by rise in R&D expenditure and rise in number of CROs for better imaging modalities in the U.S. and Canada.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Clinical Trial Imaging Market: Regulations
- Market Overview
- Global Clinical Trial Imaging Market, By Product and Services
- Global Clinical Trial Imaging Market, By Modality
- Global Clinical Trial Imaging Market, By Application
- Global Clinical Trial Imaging Market, By End User
- Global Clinical Trial Imaging Market, By Distributor
- Global Clinical Trial Imaging Market, By Region
- Global Clinical Trial Imaging Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
Get the Full Table of Contents @ https://www.databridgemarketresearch.com/toc/?dbmr=global-clinical-trial-imaging-market
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- Middle East and Africa Clinical Trial Imaging Market, By Product and Services (Services and Software), Modality (Computed Tomography, Magnetic Resonance Imaging, Echocardiography, Nuclear Medicine, Positron Emission Tomography, X-ray, Ultrasound, Optical Coherence Tomography and Others), Application (Oncology, Neurology, Endocrinology, Cardiology, Dermatology, Hematology and Others), End User (Pharmaceutical & Biotechnology Companies, Contract Research Organizations, Medical Device Manufacturers, Academic and Government Research Institutes and Others), Distributor (Direct Sales and Tender Sales) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-clinical-trial-imaging-market
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