Market Analysis and Insights

The global clinical trial imaging market is estimated to increase at an 8.21% CAGR from USD 1.11 billion in 2022 to USD 1.89 billion by 2030. 

The need for clinical investigations is being driven by the rising frequency of chronic illnesses including cancer, cardiovascular disease, and neurological issues. Imaging plays a vital role in the clinical trial process, from diagnosis and staging to treatment monitoring and efficacy assessment. To create novel drugs and treatments, pharmaceutical and biotechnology companies are extensively funding clinical trials. The imaging market used in clinical trials is expanding as a result of this expenditure. Because of technological advances, imaging methods such as computed tomography (CT), magnetic resonance imaging (MRI), and positron emission tomography (PET) are becoming increasingly accurate, efficient, and affordable. This is making imaging more accessible to clinical trial participants, which is driving the growth of the market. Pharmaceutical corporations are increasingly using contract research organizations services (CROs) to outsource clinical studies. CROs provide a variety of assistance, including clinical trial imaging. Clinical trial imaging market expansion is also being fueled by the outsourcing trend.

Clinical Trial Imaging  Market Scope:

Market Definition

Clinical trial imaging refers to the use of medical imaging techniques and technologies in clinical research studies, particularly in the context of pharmaceutical, biotechnology, and medical device trials. It involves the acquisition, analysis, and interpretation of various types of medical images to assess the safety, efficacy, and impact of experimental treatments or interventions on study participants. Imaging used in clinical trials is crucial to the discovery and assessment of new medications, treatments, and medical equipment. 

The primary purpose of clinical trial imaging is to obtain objective, quantitative, and reproducible data on the effects of investigational products (drugs, therapies, medical devices) on anatomical, functional, or molecular aspects of a patient's health. The effectiveness, safety, and potential adverse effects of the treatment are evaluated using this data. Imaging is used to determine specific endpoints or outcomes of interest in clinical trials. For example, in cancer trials, imaging may be used to measure tumor size and response to treatment. In cardiology, it can assess cardiac function, and in neurology, it may evaluate brain changes. Clinical trial imaging is a crucial component of the drug development process because it gives researchers and sponsors access to vital data on the security and effectiveness of novel medical treatments. It helps bridge the gap between preclinical research and real-world patient outcomes, ultimately leading to evidence-based decisions in healthcare.

The global clinical trial imaging market refers to the segment of the healthcare industry that provides imaging services and solutions specifically tailored for use in clinical trials conducted by pharmaceutical, biotechnology, and medical device companies. Clinical trial imaging involves the acquisition, analysis, and interpretation of various types of medical images, such as X-rays, magnetic resonance imaging (MRI), computed tomography (CT) scans, positron emission tomography (PET) scans, and ultrasound, to evaluate the safety and efficacy of new drugs, therapies, or medical devices. The global clinical trial imaging market encompasses a specialized sector of the healthcare industry that provides imaging services and solutions to support the research and development of new medical treatments and therapies. It is essential to establish the efficacy and safety of experimental products before they are released onto the market.

Key Market Segmentation

Insights on Type

The software and services segment emerges as the most lucrative

The software segment is more fragmented than the hardware segment, with several small and medium-sized players competing for market share. However, some of the major imaging device manufacturers are also developing software solutions for clinical trial imaging. A few large CROs dominate the services segment. During the forecast period, it is anticipated that the worldwide clinical trial imaging market's software and services sector will expand at a quicker CAGR than the hardware segment. This is due to the following factors:

Increasing adoption of software solutions: Software solutions for clinical trial imaging can help to improve the efficiency and accuracy of clinical trials by streamlining the workflow, automating tasks, and providing real-time insights. This is leading to the increasing adoption of software solutions by pharmaceutical companies, biotechnology companies, and CROs.

Outsourcing of clinical trial imaging services: Outsourcing of clinical trial imaging services: Pharmaceutical and biotechnology firms increasingly contract with CROs to handle their clinical trial imaging needs. CROs provide a variety of services, such as image analysis, data management, and clinical trial management. As a result, the worldwide clinical trial imaging market's services sector is rising.

Insights on Modality

CT segment accounts for the largest share

The CT segment is expected to account for the largest share of the global clinical trial imaging market during the forecast period. Because of their adaptability, CT scanners can image a variety of bodily parts. CT scans are relatively quick to perform, making them suitable for large clinical trials. They are less costly than other imaging modalities such as MRI and PET. MRI scanners provide high-quality images of soft tissues and organs are non-invasive and do not use radiation. Newer imaging modalities, such as diffusion tensor imaging (DTI) and functional MRI (fMRI), are becoming increasingly popular in clinical trials. These modalities can provide valuable insights into the structure and function of the brain. Clinical studies are using hybrid imaging modalities like PET/CT and PET/MRI more frequently. These modalities can give alternative knowledge that can aid in illness diagnosis and therapy.

Insights on Therapeutic Areas

The oncology segment is expected to account for the largest share

Oncology is expected to have the largest market share. The oncology category is predicted to have the biggest worldwide market share for clinical trial imaging throughout forecasting. Cancer is one of the top causes of death in the globe. There is a significant unmet medical need for new and effective cancer therapies. Imaging is essential for cancer detection, staging, and therapy. Neurology is predicted to increase at the easiest CAGR throughout the projection period. 

All around the world, neurological conditions including Alzheimer's, Parkinson's, and multiple sclerosis are becoming more common. For neurological illnesses, there is a critical unmet medical need for novel, efficient therapies. The CVD segment is another major segment of the global clinical trial imaging market. The diagnosis, staging, and therapy of neurological illnesses all depend heavily on imaging. Another significant component of the global clinical trial imaging market is CVDs. The worldwide clinical trial imaging market has a sizable segment dedicated to infectious disorders. This is due to the increasing prevalence of infectious diseases and the increasing demand for imaging to support clinical trials for new vaccines and treatments for these diseases.

Insights on End-Users

Pharmaceutical companies’ segment is expected to account for the largest share

The segment of pharmaceutical segment is anticipated to hold the highest share. During the forecast period, the pharmaceutical firm’s sector is anticipated to hold the greatest share of the worldwide clinical trial imaging market. Pharmaceutical companies are the primary end-users of clinical trial imaging services. Pharmaceutical companies are investing heavily in clinical trials to develop new drugs and treatments. Imaging plays a vital role in the clinical trial process, from diagnosis and staging to treatment monitoring and efficacy assessment. Clinical trials are being outsourced by pharmaceutical corporations to CROs in greater numbers. CROs offer a wide range of services, including clinical trial imaging services and they can help pharmaceutical companies to reduce the cost and time of clinical trials. 

Newer end-users, such as diagnostic companies and digital health companies, are also emerging in the global clinical trial imaging market. These end-users are using clinical trial imaging to develop new diagnostic tests and digital health solutions. Pharmaceutical companies, CROs, and imaging device manufacturers are increasingly forming partnerships to develop new clinical trial imaging solutions and services. Biotechnology companies are also major end-users of clinical trial imaging services. They use imaging to develop new biological drugs and therapies and to monitor the safety and efficacy of these drugs and therapies in clinical trials. Academic and government research institutes also use clinical trial imaging services to research new drugs, treatments, and medical devices.

Insights on Region

North American region dominates the market share

During the time of the forecast, North America is anticipated to dominate the market. The region's market will expand due to the growing financing provided by the US government to assist healthcare. For instance, the National Institutes of Health (NIH) received more than USD 700 billion in public funding over the previous three decades, according to a 2021 evaluation by the Congressional Budget Office. By providing the necessary infrastructure to develop clinical trials in the region and raising the demand for clinical trial imaging throughout the forecast period, growing funding is expected to boost market growth. 

The rapidly expanding elderly population and the rising incidence of chronic diseases like Parkinson's, Huntington's, and Alzheimer's are some of the causes driving the clinical trial market in Europe. Although Western European nations undertake the majority of these trials, there are fewer clinical trials of pharmaceuticals being conducted in this region. The clinical trial imaging market in Asia Pacific is estimated to grow at the fastest rate during the forecasted period. This can be ascribed to the area's accelerated population expansion, increased R&D activity, and the expanding need for better treatments.

Key Company Profiles

The competitive scenario within the global clinical trial imaging market is depicted through a comprehensive analysis of rivals. This entails insights into the company profile, financial performance, revenue generation, market prospects, research and development investments, innovative endeavors, international footprint, manufacturing locations, production capabilities, corporate advantages and limitations, introduction of new products, range and diversity of products, and predominant applications. These mentioned data metrics specifically pertain to the strategic orientations of companies concerning the global clinical trial imaging market.

Some key players in the global market are Bioclinica, ICON, Medpace, Parexel, Radiant Sage, Biomedical Systems Corporation, Ert Clinical, Intrinsic Imaging, ProScan Imaging, Imaging Endpoints, Micron, Median Technologies, Calcimax Imaging, Navitas Life Sciences, HeartFlow, Volpara Health Technologies.

COVID-19 Impact and Market Status

The COVID-19 pandemic has had a significant impact on the global clinical trial imaging market. In the early stages of the pandemic, many clinical trials were paused or delayed, which led to a decline in demand for clinical trial imaging services. Additionally, the pandemic caused disruptions to the supply chain, which made it difficult and expensive to obtain the imaging equipment and supplies needed to conduct clinical trials.

However, a recovery in the market for clinical trial imaging is anticipated during the next few years. This is because the pharmaceutical and biotechnology industries are continuing to invest in research and development, and the number of clinical trials is expected to increase in the coming years. Additionally, the development of new imaging technologies is expected to boost the demand for clinical trial imaging services. Remote imaging services allow clinical trial participants to be imaged remotely, without having to travel to a clinical trial site. This is making it easier for clinical trial sponsors to recruit and retain participants, and it is also reducing the risk of COVID-19 transmission.

Overall, the worldwide clinical trial imaging industry is projected to recover in the following years from the COVID-19 pandemic. The rising expenditures on R&D by the pharmaceutical and biotechnology sectors, the increasing number of clinical trials, and the advancement of novel imaging technologies are projected to boost the market.

Latest Trends

AI and machine learning are gaining popularity in the global clinical trial imaging sector. AI and machine learning have the potential to automate operations such as image processing and interpretation. This can help to increase clinical trial efficiency and accuracy. AI and machine learning, for example, may be used to automatically identify and segment lesions in medical pictures. This can assist to shorten and lower the cost of clinical studies, as well as increase the accuracy of clinical trial data.

Clinical trial imaging services are in high demand in expanding economies such as China and India. This is due to several factors, including the growing pharmaceutical and biotechnology industries in these countries, the increasing number of clinical trials being conducted in these countries, and the rising incomes and standards of living in these countries.

For example, China is now the second-largest market for clinical trials in the world, and the demand for clinical trial imaging services is growing rapidly in China.

Significant Growth Factors 

The pharmaceutical and biotechnology businesses are increasing their R&D expenditures: The pharmaceutical and biotechnology sectors are making significant R&D investments to create novel medications and treatments. This is leading to an increasing number of clinical trials being conducted, which is driving the demand for clinical trial imaging services.

Growing number of clinical trials: Worldwide, an increasing number of clinical studies are being done. This is brought on by a variety of elements, such as the rising incidence of chronic illnesses, the aging population, and the expanding funding for clinical research.

Development of new imaging technologies: The worldwide clinical trial imaging market is developing and implementing new imaging technologies including PET and DTI. These new imaging technologies can provide more detailed and accurate images of the body, which can be helpful for clinical trial sponsors in evaluating the safety and efficacy of new drugs and therapies.

Rising demand for clinical trial imaging services in emerging markets: The demand for clinical trial imaging services has been springing up in South Asian nations recently, as well as in China. This is due to several factors, including the growing pharmaceutical and biotechnology industries in these countries, the increasing number of clinical trials being conducted in these countries, and the rising incomes and standards of living in these countries.

Increasing adoption of artificial intelligence (AI) and machine learning (ML): AI and ML are being increasingly adopted in the global clinical trial imaging market to automate tasks such as image analysis and image interpretation. Accuracy of imaging results is therefore greatly enhanced in this way.

Growing demand for remote imaging services: Remote imaging services allow clinical trial participants to be imaged remotely, without having to travel to a clinical trial site. This is making it easier for clinical trial sponsors to recruit and retain participants, and it is also reducing the risk of COVID-19 transmission.

Restraining factors

High cost of clinical trials: Clinical trials are expensive to conduct, and the cost of clinical trial imaging services is a significant component of the overall cost of clinical trials. The high cost of clinical trials can be a barrier to entry for small and medium-sized pharmaceutical and biotechnology companies. Regulatory challenges: The global clinical trial imaging market is subject to a variety of regulations, which can vary from country to country. These regulations can make it difficult and expensive for clinical trial sponsors to conduct clinical trials in multiple countries.

Lack of skilled workforce: The global clinical trial imaging market requires a skilled workforce of radiologists, imaging technicians, and other healthcare professionals. There is a shortage of skilled workers in this market, which can make it difficult for clinical trial sponsors to find the qualified personnel they need. Data security and privacy concerns: Clinical trial imaging data is sensitive and confidential data. There is a risk of data security and privacy breaches, which can be costly and damaging to clinical trial sponsors.

COVID-19 pandemic: Many clinical trials were paused or delayed during the pandemic, and the supply chain for imaging equipment and supplies was disrupted.

Rising costs of imaging equipment and supplies: The costs of imaging equipment and supplies are rising, which is increasing the cost of clinical trials.
Increasing competition from other imaging modalities: There are several other imaging modalities available, such as ultrasound and MRI. These imaging modalities are becoming more sophisticated and affordable, and they are competing with traditional clinical trial imaging modalities, such as X-ray and CT.

Clinical trial imaging companies are working to address the restraining factors mentioned above. For example, they are developing new imaging services and solutions that are more affordable and efficient. They are also working to improve the data security and privacy of clinical trial imaging data.

Key Segments of the Clinical Trial Imaging Market 

Imaging Software and Services Overview
• Operational Imaging 
• Trial Design Consulting Services 
• Imaging Software 
• Read Analysis 

Modality Overview
• CT (Computed Tomography) 
• MRI (Magnetic Resonance Imaging) 
• PET (Positron Emission Tomography) 
• ECHO (Echocardiography) 
• X-Ray 
• Ultrasound 

Therapeutic Areas Overview
• Oncology 
• Infectious Diseases 
• CNS (Central Nervous System) 
• CVS (Cardiovascular System) 

End-User Overview
• Pharmaceutical Companies 
• Biotechnology Companies 
• Medical Device Manufacturers 
• Academic and Government Research Institutes 
• Contract Research Organizations 

Regional Overview

North America 
• U.S. 
• Canada 
Europe 
• Germany 
• France 
• UK 
• Rest of Europe 
Asia Pacific 
• China 
• India 
• Japan 
• Rest of Asia Pacific 
South America 
• Mexico 
• Brazil 
• Rest of South America