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Clinical Trial Imaging Market Worth $1.31 Billion by 2026 | CAGR: 5.8%: Grand View Research, Inc.
SAN FRANCISCO, June 18, 2019 /PRNewswire/ -- The global clinical trial imaging market size is expected to reach USD 1.31 billion by 2026, according to a new report by Grand View Research, Inc., progressing at a CAGR of 5.8% during the forecast period. Increasing spending on research and development activities to develop new drugs and therapies to treat chronic diseases is boosting market growth.
Key suggestions from the report:
- North America dominated the market in 2017. Attaining compliance with registration requires a combination of international and local measures and remains a key challenge in many countries. However, U.S. FDA and other regulatory organizations have played a leading role in attaining accomplishments of trial registration to date and is likely to be supported in tackling such challenges in the near future
- Some of the players operating in this market are Parexel International Corporation; Intrinsic Imaging; Radiant Sage; Icon PLC; Worldcare Clinical; Bioclinica Inc.; Navitas Life Sciences; Resonance Health; Ixico PLC; and Medpace.
Read 111 page research report with TOC on "Clinical Trial Imaging Market Size, Share & Trends Analysis Report By End Use (CROs, Pharmaceutical Companies), By Service, By Modality (CT Scan, Ultrasound, MRI), And Segment Forecasts, 2018 - 2026" at: https://www.grandviewresearch.com/industry-analysis/clinical-trial-imaging-market
Clinical trials assist in the development, registration, and eventually access of new drugs to patients. Imaging helps in the process of drug development by offering non-invasive evaluation of drug action and response of tumor to treatment. Functional imaging techniques are progressively being used in early phases of clinical trials to study initial effects of drug action on parts of tumor biology including metabolism, cellularity, and vascularity.
Contract Research Organizations (CROs) were the most prominent end-use segment in the market in 2017. Imaging modalities are used to determine indicators of pharmacological response to a therapy. Biomarkers and surrogate endpoints assist in obtaining quick results with good statistical power even in small sample sizes encouraging CROs to carryout multiple studies with reduced cost of operation.
The market in Asia Pacific is projected to witness swift growth during the forecast period as the number of CROs and pharmaceutical organizations in the region are increasing in recent past due to low cost of labor and public and private funding offered in countries such as India and China. However, inaccessibility of trial protocols and poor quality of registered clinical trial data, results, and participant-level data undermined the potential benefits of clinical trial registration earlier. Nevertheless, emergence of national and regional registries and ICTRP have facilitated to overcome aforementioned barriers in APAC.
Grand View Research has segmented the global clinical trial imaging market based on service, modalities, end-use, and region:
- Clinical Trial Imaging Service Outlook (Revenue, USD Million, 2014 - 2026)
- Clinical trial design and consultation services
- Reading and analytical Services
- Operational Imaging services
- System and technology support services
- Project and Data Management
Clinical Trial Imaging Modalities Outlook (Revenue, USD Million, 2014 - 2026)
- Computed Tomography (CT) Scan
- MRI ( Magnetic Resonance Imaging)
- Optical Coherence Tomography (OCT)
- Others (Positron Emission Tomography (PET), Single-Photon Emission Computerized Tomography (SPECT)Reading and analytical Services
Clinical Trial Imaging End-use Outlook (Revenue, USD Million, 2014 - 2026)
- Biotechnology and Pharmaceutical companies
- Medical Devices Manufacturers
- Academic and government research institutes
- Contract Research Organization (CROs)
- Others (Cosmetics and skin care industries)
Clinical Trial Imaging Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- Asia Pacific
- Latin America
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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