Clinical Trial Imaging Market Forecasts to 2030 - Global Analysis By Product (Software and Services), Imaging Modality, Application, End User and By Geography

According to Stratistics MRC, the Global Clinical Trial Imaging Market is accounted for $2.35 billion in 2023 and is expected to reach $4.52 billion by 2030 growing at a CAGR of 8.6% during the forecast period. Clinical Trial Imaging involves the use of various imaging techniques to assess the safety and efficacy of drugs, medical devices, or interventions in clinical trials. These images are crucial for evaluating disease progression, treatment response, and potential side effects. By providing detailed anatomical and functional information, imaging plays a vital role in determining the success of clinical trials, aiding in decision-making processes, and advancing medical research.

According to Clinicaltrialsarena.com, in the period between 2017 and 2022, the Asia-Pacific (APAC) region experienced a remarkable growth rate of around 10% in clinical trials, surpassing the growth rate of other major regions such as the US, Europe, and RoW.

Market Dynamics:

Driver:

Mounting number of clinical trials globally

With an increasing focus on drug development and personalized medicine, there's a growing demand for accurate and reliable imaging technologies to assess treatment efficacy and safety. Clinical trials utilize imaging modalities such as MRI, CT, PET, and ultrasound for patient stratification, treatment monitoring, and endpoint assessment. This surge in demand for imaging in clinical trials boosts market growth as pharmaceutical and biotechnology companies seek advanced imaging solutions to support their research endeavours.

Restraint:

Interpretation variabilities

Interpretation variabilities in clinical trial imaging stem from differences in equipment, protocols, and reader expertise, leading to inconsistent image interpretations. Despite efforts to standardize protocols and train readers, variability persists, impacting data reliability and study outcomes. This hampers market growth by eroding confidence in imaging data quality, prolonging study timelines, and increasing costs associated with repeated readings or disputes over results.

Opportunity:

Shift towards personalized medicine

Clinical trial imaging plays a crucial role in patient stratification, treatment monitoring, and assessing treatment response, aligning with the objectives of personalized medicine. By enabling the identification of specific biomarkers, imaging technologies facilitate the selection of suitable patients for clinical trials, optimization of treatment regimens, and evaluation of therapeutic efficacy. This increased reliance on imaging in personalized medicine fuels the growth of the Clinical Trial Imaging market.

Threat:

High implementation costs

High implementation costs in clinical trial imaging stem from expensive equipment, infrastructure needs, and skilled personnel requirements. These costs pose a significant barrier, particularly for small and medium-sized enterprises (SMEs) and academic institutions, limiting their ability to incorporate imaging into clinical trials. This limitation hampers market growth by constraining the adoption of imaging techniques and restricting the scope of clinical trials conducted with imaging endpoints.

Covid-19 Impact

The covid-19 pandemic has significantly impacted the clinical trial imaging market. While the pandemic initially led to disruptions in clinical trial activities due to lockdowns and travel restrictions, it also highlighted the importance of remote monitoring and decentralized trials, where imaging plays a critical role. The adoption of virtual and hybrid trial models surged, driving demand for imaging solutions that support remote data collection and analysis. Additionally, the focus on infectious disease research and vaccine development further stimulated demand for imaging technologies in covid clinical trials, reshaping the market landscape.

The X-ray segment is expected to be the largest during the forecast period

The X-ray segment is estimated to have a lucrative growth. X-ray imaging modality is integral to Clinical Trial Imaging due to its versatility and widespread availability. It offers non-invasive visualization of anatomical structures and can detect skeletal abnormalities, tumours, and other pathologies. Its rapid acquisition, relatively low cost, and established protocols make it suitable for large-scale trials. Additionally, advancements like digital radiography and dual-energy X-ray absorptiometry enhance its capabilities, driving its adoption in diverse therapeutic areas.

The neurology trials segment is expected to have the highest CAGR during the forecast period

The neurology trials segment is anticipated to witness the highest CAGR growth during the forecast period. Clinical Trial Imaging in Neurology Trials offers non-invasive methods to assess structural and functional changes in the brain, crucial for developing treatments for neurological disorders like Alzheimer's, Parkinson's, and multiple sclerosis. With the rising prevalence of neurological disorders and the demand for more effective therapies, it plays a vital role in enhancing trial efficiency, enabling early disease detection, and advancing the development of novel treatments, driving its application in neurology trials.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period. The region's increasing investment in healthcare infrastructure, rising clinical trial activity, and a large patient pool contribute to market expansion. APAC offers cost advantages, attracting pharmaceutical and biotechnology companies to conduct clinical trials in the region. Additionally, supportive regulatory frameworks and advancements in imaging technologies further stimulate market growth. With a growing emphasis on precision medicine and the need for innovative therapies, the APAC Clinical Trial Imaging market is poised for significant development and opportunities.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to its maturity, technological advancements, and robust infrastructure. With a well-established healthcare system and strong regulatory frameworks like the FDA, the region attracts a significant share of global clinical trials. The presence of leading pharmaceutical and biotechnology companies, coupled with a high level of research and development activities, drives market growth. Additionally, North America benefits from a skilled workforce, access to cutting-edge imaging technologies, and a large patient population. These factors collectively contribute to the region's dominance in the market.

Key players in the market

Some of the key players profiled in the Clinical Trial Imaging Market include Biomedical Systems, Cardinal Health, ICON plc, IXICO plc, BioTelemetry Inc., Covance Inc., Parexel International Corporation, Clario Medical Imaging Inc., Intrinsic Imaging LLC, Radiant Sage LLC, ERT (eResearchTechnology), Navitas Life Sciences, Resonance Health, ProScan Imaging, Medpace.

Key Developments:

In May 2023, Cleerly has partnered with ProScan Imaging to provide personalized solutions for cardiac health, which involve analyzing and devising treatment strategies for cardiovascular issues.

In March 2023, ICON PLC (Ireland) announced a strategic partnership with LEO Pharma (Denmark) to scale clinical trial execution that is patient-centric and cost effective, and which will support the company's overall ambition of building one of the most effective and efficient clinical portfolio execution organisations in the industry.

In March 2023, Clario (US), announced the launch of a cutting-edge cloud-based image viewer tool for sponsors and contract research organizations to view images related to their clinical trials.

Products Covered:

• Software
• Services

Imaging Modalities Covered:

• Magnetic Resonance Imaging (MRI)
• Computed Tomography (CT)
• Positron Emission Tomography (PET)
• Single-Photon Emission Computed Tomography (SPECT)
• Ultrasound
• X-Ray
• Other Imaging Modalities

Applications Covered:

• Oncology Trials
• Neurology Trials
• Cardiology Trials
• Rheumatology Trials
• Endocrinology Trials
• Other Applications

End Users Covered:

• Contract Research Organizations (CROs)
• Biotechnology Companies
• Academic and Research Institutes
• Other End Users

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances