The global imaging
clinical research organization (CRO) market is anticipated to observe
impressive growth during the forecast period, 2023-2027. The major factors
include growing number of clinical trials, continuous growth in R&D
spending, and extensive advancement in technology are impelling the growth of
the market. Medical
imaging plays an effective role in the clinical advancement of novel life
science products. Expansion of biotechnology and pharmaceutical industries along with
increased research and development investments for developing new drugs to
treat various diseases is likely to drive the market industry growth. The other
factors supporting the market’s growth are, rise in R&D
activities, increasing R&D expenditure, rise in automation
of imaging process, increasing usage of
imaging technology and the enhanced power of computing, and growing number of
mergers and strategic acquisitions.
Increase in the Annual
Number of Clinical Trials with Medical Imaging supports the Market Growth
Growing number of
clinical trials due to the rise in clinical research is augmenting the growth
of the market. Imaging Clinical Research Organizations helps researchers by
providing a massive information and insights in key areas. They are adding quality,
cost-effectiveness and manufacturing capacity to various industries such as
medical devices, biotechnology, and pharmaceutical. The growing significance of
medical imaging in clinical trials is fueling the growth of the market. According
to Keosys Medical Imaging article, in 2018, the total number of clinical trials
performed each year has almost doubled in 2020 compared to 2010.
Growth in R&D
Activities and spendings to foster the Market Growth
Rise in research and
development (R&D) activities is bolstering the growth of the market. Rising
research in the field of radiology and imaging sciences are helping to generate
critical technologies, as well as honed modern techniques for using equipment to
identify and treat abnormalities and disease in the humans. Nowadays, various
clinical studies are done to evaluate medical, surgical and behaviors
intervention, with the help of medical imaging.
Also, continuous growth in R&D spending is facilitating the growth
of the market.
Increasing Adoption of
Automation in Imaging CRO Process
Over the past few years,
rapid advancements in technology are propelling the growth of the market.
Advancements such as automation in Imaging CRO process is making a huge impact
on the biotechnology and pharmaceutical industries. Automation in imaging CRO
process makes the process effective and efficient, also, it helps to control
errors and minimize time. Thus, the increasing adoption of automation in
imaging process encourages the growth of the market. For instance, in 2021,
Abbott announced that it has received FDA clearance for the latest optical
coherence tomography (OCT) imaging platform operated by the company's new
Ultreon Software. This advanced imaging software combines OCT with artificial
intelligence to offer physicians an enhanced, comprehensive view of coronary
blood flow and blockages to aid physician decision-making and offer the best
route for treatment.
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Market
Segmentation
The global
imaging clinical research organization (CRO) market is segmented into services offered, imaging modality, clinical trial phase,
application, end user, and company. Based on services offered, the market is
divided into imaging acquisition and protocol development, application design,
image collection and quality control, digital image conversion, support and
maintenance, and others. Based
on imaging modality, the market is divided into computed tomography (CT) scan,
magnetic resonance imaging (MRI), positron emission tomography (PET), and others. Based on clinical trial phase, the
market is divided into phase 1, phase 2, and phase 3. Based on application, the
market is divided into oncology, neurology, cardiovascular, ophthalmology, and others.
Based on end user, the market is divided into pharmaceutical &
biotechnology companies, medical device manufacturers, academic & research
institutions, and others. In
terms of country, the United States is expected to be a lucrative market in the
forecast period due to rising number of clinical studies in the country.
Market Players
Laboratory Corporation of America
Holdings, IXICO PLC, ICON plc, The Micron Group, Medpace Holdings, Inc., Radiant
Sage LLC, Biomedical Systems Corporation, Worldcare Clinical, LLC, Imaging
Endpoints LLC, and Parexel International Corporation are some of the leading companies
operating in the market.
Attribute | Details |
Base Year | 2021 |
Historic Data | 2017 –
2020 |
Estimated Year | 2022 |
Forecast Period | 2023
– 2027 |
Quantitative Units | Revenue in USD Million, Volume Units and CAGR for 2017-2021
and 2022-2027 |
Report coverage | Revenue forecast, Volume forecast company share, competitive
landscape, growth factors, and trends |
Segments covered | ·
Services Offered ·
Imaging Modality ·
Clinical Trial Phase ·
Application ·
End User ·
Company |
Regional scope | North America; Asia Pacific; Europe & CIS; South America;
Middle East & Africa |
Country scope | United States; Canada; Mexico; China; India; Japan; South
Korea; Germany; France; United Kingdom; Spain; Italy; Brazil; Argentina; Colombia;
South Africa; UAE; Saudi Arabia; South Africa; Turkey; Egypt; |
Key companies profiled | Laboratory Corporation of America Holdings, IXICO PLC, ICON
plc, The Micron Group, Medpace Holdings, Inc., Radiant Sage LLC, Biomedical
Systems Corporation, Worldcare Clinical, LLC, Imaging Endpoints LLC, and
Parexel International Corporation |
Customization scope | 10% free report customization with purchase. Addition or
alteration to country, regional & segment scope. |
Pricing and purchase options | Avail customized purchase options to meet your exact research
needs. Explore purchase
options |
Delivery Format | PDF and
Excel through Email (We can also provide the editable version of the report
in PPT/Word format on special request) |
Report Scope:
In this report, global imaging clinical
research organization (CRO) market has been segmented into following
categories, in addition to the industry trends which have also been detailed
below:
·
Imaging Clinical Research Organization (CRO) Market, By Services Offered:
o
Imaging
Acquisition and Protocol Development
o
Application
Design
o
Image
Collection and Quality Control
o
Digital
Image Conversion
o
Support
and Maintenance
o
Others
·
Imaging Clinical Research Organization (CRO) Market, By Imaging Modality:
o
Computed
Tomography (CT) Scan
o
Magnetic
Resonance Imaging (MRI)
o
Positron
Emission Tomography (PET)
o
Others
·
Imaging Clinical Research Organization (CRO) Market, By Clinical Trial Phase:
o
Phase
1
o
Phase
2
o
Phase
3
·
Imaging Clinical Research Organization (CRO) Market, By Application:
o
Oncology
o
Neurology
o
Cardiovascular
o
Ophthalmology
o
Others
·
Imaging Clinical Research Organization (CRO) Market, By End User:
o Pharmaceutical & Biotechnology
Companies
o Medical Device Manufacturers
o Academic & Research Institutions
o Others
·
Imaging Clinical
Research Organization (CRO) Market, By Region:
- North America
- United States
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Europe & CIS
- Germany
- France
- United Kingdom
- Spain
- Italy
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
§
South
Africa
§
Saudi
Arabia
§
UAE
§
Turkey
§
Egypt
Competitive Landscape
Company Profiles: Detailed analysis of the major
companies present in Global Imaging Clinical Research Organization (CRO) Market
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following customization
options are available for the report:
Company
Information
- Detailed analysis and profiling of additional market players (up to
five).
Imaging Clinical Research Organization (CRO) Market is an upcoming report to be released
soon. If you wish an early delivery of this report or want to confirm the date
of release, please contact us at [email protected]