In a recently published report, Clinical Trial Imaging Services Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Clinical Trial Imaging Services Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Clinical Trial Imaging Services Market was valued at 1.3 Billion US Dollar in 2019 and expected to grow with a CAGR 5.6%. Clinical Trial imaging services are used in clinical and non-clinical trial since years. This is a set of services offered to companies such as pharmaceutical, medical device and biotechnology by contract research organization. In which many services are offered in open market such as project and data management services, image analysis, quality control and other. For instance, services such as project management has team of experts which manage workflow of a clinical trial. Additionally, these services are offered for different types of therapeutic expertise such as neurology, oncology, endocrinology, and others. Rise in adoption of imaging in clinical trials and advancements in the field of medical imaging technology are key drives of the global Clinical Trial Imaging Market.
For instance, In 2020, as per Radiology Society of North America, in new development of Digital breast tomosynthesis it is found that Digital Breast Tomosynthesis Improves Invasive Cancer Detection. Analysis showed that screening with DBT improves sensitivity specificity for breast cancer and identified more invasive cancers.Despite that, challenges related to integration of imaging in clinical trials is restrain the market growth of Clinical Trial Imaging Services during forecasting years 2020-2027.
The regional analysis of the Clinical Trial Imaging Services Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. In which, North America leading the Global market of Clinical Trial Imaging Services owing to surge in use of imaging as an endpoint in clinical trials. However, APAC region holds largest market share of Clinical trial Imaging Services due to rising awareness related Imaging Clinical trial which grow the market during forecasting period 2020-2027.
Key Players in Global Clinical Trial Imaging Services Market
Biomedical Systems Corporation
Bio Clinica Inc.
Cardiovascular Imaging Technologies LLC
Intrinsic Imaging LLC
Parexel International Corporation
Radiant Sage LLC
Worldcare Clinical LLC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Software and Services:
Clinical Trial Design & Consultation Services
Reading & Analytical Services
Operational Imaging Services
Project & Data Management Services
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Magnetic Resonance Imaging
Positron Emission Tomography
By End Users:
Medical Device Manufacturers
Academic and Government Research Institutes
Rest of LA
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of Global Clinical Trial Imaging Services Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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