Clinical Trials Imaging is an element of large-scale biotechnology, pharmaceutical industry research and development, as well as drug development. It helps to make the trial more efficient and accurate. The global market for clinical trial imaging is experiencing tremendous growth due to the increase in research and development spending by the growing biotechnology and pharmaceutical industries and the increase in the number of Contract Research Organizations (CROs). Various products and services contributed to the size of the clinical trial imaging market. Over the last few years, the market has witnessed a high demand for services segment due to the high price of imaging equipment.

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The clinical imaging market is divided into services and software based on products and services. Services segments represent a greater share and are projected to rise at the fastest pace on the market as the price of imaging instruments is growing and medical devices, pharmaceuticals and biotechnologies manufacturers are starting outsourcing imaging clinical trials. In addition, the services section is divided into system and technical support services, operational imaging, trial design and reading analysis services. The operating imaging service has been the biggest share of the market because it provides vital services that can be accessed via imaging CROs in different modes of imaging.

Based on the modality, the market is subdivided into x-ray, computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), ultrasound, echocardiography, and others. Some of the factors leading to the growth in the computation tomography segment are high benefits of computed tomography in diagnosis of injury, abnormalities, and cancer in the body.

The numerous end users on the market include research institutes in the academic and government, pharmaceutical companies, contract research organizations, biotechnology companies, and manufacturers of medical devices. The increased demand for pharmaceutical companies is motivated by the rise in the research and development finances of pharmaceutical companies. The pharmaceutical firms are responsible for the clinical trial imaging industry among all end users. In addition, manufacturers of medical appliances are projected to expand at the highest pace in the market as medical appliance markets grow and medical devices manufacturers are mounting research and development investment.

Current growth factors for the clinical trials image market are increased research and development expenses through growth in biotechnology and pharmaceutical industries, expansion of the pharmaceutical and biotechnology sectors, and an increase in the CRO prices. Pharmaceutical and biopharmaceutical firms spend extensively in new drug advancement research and development. The organizations are seeking to invent and improve treatments for medical problems such as AIDS, diabetes and cancer in the clinical research and life sciences market.

Geographic Overview

North America is geographically the largest market in clinical trials imaging, as research and development expenditure in the region is immense. The growth in the North American clinical trials imaging market is also increasing with the growing number of pharmaceutical and biotechnology firms and the expanding number of CROs.

There is a growing number of biotechnology and pharmaceutical companies on the Asia-Pacific market, with the region increasing.

Competitive Insight

The demand on such equipment is fulfilled by investing in technologically advanced devices in their product range around the world as key players on the clinical trial imaging market. In July 2017, ICON plc acquired Mapi Group to improve its marketing and research operations. Parexel International Corporation, Radiant Sage LLC, ICON Plc, Biomedical Systems Corporation, Biotelemetry, Inc., Intrinsic Imaging LLC, Cardiovascular Imaging Technologies, LLC, Ixico PLC, and Worldcare Clinical, LLC are the key players offering clinical trial imaging.

Medical Imaging with Deep Learning (MIDL) brings researchers, clinicians, and healthcare firms together to discuss and exchange ideas in the fields of disease testing, diagnosis, prognosis, treatment selection and monitoring in a deeply trained and medical imaging network.

The image helps doctors view and scan MRI images for internal structure deformities/abnormalities. The data collected from various biomedical instruments using a range of imaging methods, including X-rays, CT scans, MRI, mammogram, etc. are an important factor in the diagnosis.

In the field of medicinal image processing, practices from convolutionary neural networks (CNN) to a variety of autoencoders find numerous applications, leading it to a fast scale. For the identification, characterization and control of illness, qualified physicists visually assessed the medical images in radiography.

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