Global Clinical Trial Imaging Market Report Description:
Global clinical trial imaging market report gives comprehensive outlook on clinical trial imaging across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global clinical trial imaging market gives historical, current, and future market sizes (US$ Mn) on the basis of product & services, modality, end-user and region. This report studies global clinical trial imaging market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global clinical trial imaging market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global clinical trial imaging products.
Global Clinical Trial Imaging Market:
The global clinical trial imaging market estimated to be valued US$ 821.8 Bn in 2018 and poised to grow at significant CAGR of 7.2% over 2019-2025. Some of thе key factors fueling the market growth include growth in the pharmaceutical and biotechnology industries, huge spending on R&D, rise in number of contract research organizations and advancements in the technology. Also, enhanced investment in medical imaging companies and adoption of innovative imaging technologies to support clinical trials are other factors responsible for the market growth. However, high implementation cost of imaging systems and high capital required to run clinical trials are hindering the market growth.
Rising Prevalence of Chronic Diseases such as Parkinson’s and Alzheimer’s are fueling the Market
Rising occurrence of chronic diseases such as Parkinson’s and Alzheimer’s coupled with rapidly growing geriatric population increases the acceptance of clinical trial imaging techniques.
- Every year, about 60,000 Americans are diagnosed with Parkinson’s and about one million Americans are thought to have Parkinson’s. Moreover, As per the Alzheimer’s Disease Facts and Figures published by Alzheimer’s Association, in 2017, 38% of the total population with Alzheimer’s Dementia in the U.S. are of age group 85+, 44% are of age group 75-84, 16% is of age group 65-74, and 4% are of age group <65.
- According to UCB, a global BioPharma company focused on severe diseases with operations in approximately 40 countries, there are over 100,000 Canadians living with Parkinson’s disease today, with about 6,600 new cases of Parkinson’s diagnosed each year in Canada
- The prevalence of Parkinson’s in the U.K. is about one in 500 people, with a total of about 127,000 people living with the disease.
The rise in the number of pharmaceutical and biotechnology companies is making it imperative for the manufacturers to deliver the best possible drug or medicine to the end user as competition is striking the companies.
- For instance, IXICO provides a reading tool named Assessa, which helps in enhanced decision making in clinical trials for neurological disorders which include dementia, cognitive impairment and diseases related with memory such as Parkinson’s, Schizophrenia, and Alzheimer’s disease.
North America Accounts for Larger Market Revenue Share in Global Clinical Trial Imaging Market
North America accounted for larger revenue share in global clinical trial imaging market with considerable CAGR. The growth in this region is due to increasing geriatric population together with rising prevalence of chronic diseases and growing number of pharmaceutical and biotechnology companies. In addition, Asia Pacific held substantial market share during estimated period owing to soaring need for better diagnostic devices and demand for specialized and quality healthcare facilities to improve patient’s life. Europe held steady growth during predicted period as research laboratories are looking to reduce operational costs and rising adoption of clinical trial imaging techniques in this region.
Key player’s profiles in the global clinical trial imaging market include:
- Bioclinica, Inc.
- Biomedical Systems Corporation
- Biotelemetry, Inc.
- Cardiovascular Imaging Technologies, LLC
- Icon PLC
- Intrinsic Imaging LLC
- Ixico PLC
- Parexel International Corporation
- Radiant Sage LLC
- Worldcare Clinical, LLC
Global clinical trial imaging market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In April 2019, Perspectum Diagnostics launched MRCP+ at the international liver congress which will focus on clinical practices.
Key Findings of the Report:
- Global clinical trial imaging market expanding at significant CAGR over 2019 to 2025 due to growth in the pharmaceutical and biotechnology industries
- Based on modality, computed tomography segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global clinical trial imaging market
By Product & Services
- Operational Imaging Services
- Read Analysis Services
- System and Technical Support Services
- Trial Design Consulting Services
- Computed Tomography
- Magnetic Resonance Imaging
- Positron Emission Tomography
- Other Modalities
- Pharmaceutical Companies
- Biotechnology Companies
- Medical Device Manufacturers
- Contract Research Organizations
- Academic and Government Research Institutes
- Other End-Users
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market