Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=30446624
Browse in-depth TOC on "Clinical Trial Imaging Market"
311 - Tables
48 - Figures
248 - Pages
The clinical trial imaging market is divided into two segments: services and software. By far the largest share of the clinical trial imaging market in 2023 belonged to the services segment. One of the main reasons for this segment's considerable domination is the high cost of imaging equipment. This element has fueled the trend of pharmaceutical, biotechnology, and medical device companies outsourcing imaging clinical studies to third-party service providers.
The clinical trial imaging market is divided into several modalities based on imaging techniques, such as computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray and more. The computed tomography segment accounted for the largest share of the clinical trial imaging market in 2023. It is anticipated that factors including the expansion of clinical studies and the actions taken by major companies will boost market expansion.
The market for clinical trial imaging has been divided into therapeutic areas such as immunological disorders, cancer, infectious diseases, neurology, CVS, endocrinology, and others. As of 2023, the oncology sector held the largest share of the clinical trial imaging market. This can be attributed to the increasing number of research studies that focus on cancer treatments and the expanding number of businesses that are committed to bringing innovative cancer medications to the market.
The pharmaceutical and biotechnology firms, medical device makers, contract research organizations, academic and government research institutes, and other end users are the segments of the clinical trial imaging market based on end users. With the highest market share in 2023 for clinical trial imaging, the pharmaceutical & biotechnology firms segment can be mainly ascribed to the growth in CROs and the overall expansion of the pharmaceutical sectors.
There are five primary regions that make up the global market for clinical trial imaging: North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and the Gulf Cooperation Council. In terms of clinical trial imaging, North America was the largest regional market in 2023. Growth in R&D spending and the rise of CROs specializing in imaging modality optimization in the US and Canada are driving the market's expansion in North America.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=30446624
The major players in this market are ICON Plc (Ireland), Clario (US), Medpace (US), IXICO Plc (UK), and Resonance Health Ltd. (Australia). Other players such as Radiant Sage (US), WCG Clinical (US), Voiant (US), Cardiovascular Imaging Technologies (US), Medical Metrics Inc. (US), Prism Clinical Imaging (US), Boston Imaging Core Lab (US), Anagram 4 Clinical Trials (Spain), Calyx (UK), Biospective Inc. (Canada), Proscan Imaging (US), Micron Inc. (Japan), Imaging Endpoints (US), Perspectum (UK), Pharmtrace (Germany), Navitas Life Sciences (US), Median Technologies (France) and Invicro, LLC. (US), Image Core Lab (India), Image Analysis Group (UK).
ICON held a strong position at the forefront of the clinical trial imaging market as of 2023. The company's extensive distribution networks in North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa have maintained its dominance. To further solidify its dominance in this industry, ICON uses non-organic expansion techniques, with a focus on acquisitions that bolster its current business divisions. For example, in October 2023, ICON acquired 100% of the equity of BioTel Research, LLC, a leading medical imaging and cardiac safety monitoring service provider. This part of the business was formerly known as Philips Pharma Solutions. The company's foothold in the market is primarily attributed to several factors, such as its strong technical and service capabilities, good client relationships, and diversified service offerings.
In the clinical trial imaging market, Medpace Holdings, Inc. held the second-best position in 2023. The company's strong sales and distribution network is responsible for its dominant position. The company's leading position in this market can be attributed to its strong global sales and distribution network, enabling it to market its services and solutions in various countries. Its increasing focus on emerging markets has also supported revenue growth and has increased its overall revenue—the company's overall revenue increased from USD 0.93 billion in 2020 to USD 1.89 billion in 2023. The organization pursues non-organic tactics like acquisitions and devotes a significant amount of its revenue to research and development (R&D). Through completely owned subsidiaries and representative sales offices, the company operates in North America, Europe, Asia, South America, Africa, and Australia.
For more information, Inquire Now!
Related Reports:
Preclinical Imaging Market
Clinical Trial Supplies Market
Contract Research Organization Services Market
Diagnostic Imaging Market
Ultrasound Market
Get access to the latest updates on Clinical Trial Imaging Companies and Clinical Trial Imaging Market Size
About MarketsandMarkets™:
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: [email protected]
Visit Our Website: https://www.marketsandmarkets.com/
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
SOURCE MarketsandMarkets
Share this article