Rise in chronic disorders across the globe which leads to surge in clinical trials that require imaging leading to outsourcing of these services.

PORTLAND, OREGON, UNITED STATES, October 7, 2021 /EINPresswire.com/ -- According to the report by Allied Market Research, titled, "Clinical Trial Imaging Services Market by Service Type (Clinical Trial Design & Consultation Services, Reading & Analytical Services, Operational Imaging Services, Project & Data Management Services, and Others), End User (Pharmaceutical & Biotechnology Companies, Medical Device Manufacturers, and Academic & Government Research Institutes), and Therapeutic Area (Oncology, Neurology, Endocrinology, Cardiology, Gastroenterology, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

Rise in the need to outsource imaging in clinical trials, growth in adoption of imaging in clinical trials, and developments in the field of medical imaging technology drive the global clinical trial imaging services market. However, challenges associated with integration of imaging in clinical trials restrain the market growth. On the other hand, progress in image modality creates new opportunities in the coming years.

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Covid-19 Scenario

The outbreak of covid-19 impacted the market in various manners including disruptions or cancellations or rescheduling of majority of the clinical trials.

In addition, the industry has witnessed a major drop in demand for imaging clinical trial services during the lockdown.

At the same time, the research related to development of therapeutics for COVID-19 has fueled the demand to certain extent.

Nevertheless, the government bodies have now introduced certain relaxations in various regions. Owing to which the industry is recovering and is expected to recoup soon.

Comprehensive competitive analysis and profiles of major market players, such as

BioClinica, Inc.
Biospective Inc.
Calyx
ERT Clinical
Icon Plc
IXICO plc
Intrinsic Imaging LLC
Imaging Endpoints
Micron Inc
Median Technologies
Medpace Inc.
Pharmtrace
ProScan Imaging.

Demand for clinical trial imaging services is on the rise, owing to surge in adoption of imaging in clinical trials, rise in chronic disorders across the globe which leads to surge in clinical trials that require imaging leading to outsourcing of these services. Furthermore, surge in cost associated with conducting clinical trials in house also leads to surge in demand for imaging services offered by CROs thereby boosting the market growth.

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The animal feed segment to maintain its leadership position during the forecast period

Based on end user, the pharmaceutical and biotechnology companies segment contributed to the highest market share with more than two-thirds of the global clinical trial imaging services market in 2019, and is estimated to maintain its leadership position during the forecast period. Furthermore, the segment is estimated to generate the fastest CAGR of 5.9% from 2020 to 2027. This is attributed to constant change in needs related to clinical trials.

Key Benefits For Stakeholders:

• The study provides an in-depth analysis of the Clinical Trial Imaging Services Market along with the current trends and future estimations to elucidate the imminent investment pockets.

• It offers Clinical Trial Imaging Services Market analysis from 2020 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.

• A comprehensive analysis of four regions is provided to determine the prevailing opportunities.

• The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook of the global Clinical Trial Imaging Services Market growth.

North America to dominate the market throughout the forecast period

Based on region, North America accounted for the highest share based on revenue, holding nearly two-fifths of the total share of the global clinical trial imaging services market in 2019, and is projected to maintain its dominant position throughout the forecast period. This is attributed to surge in use of imaging as an endpoint in clinical trials and availability of major market players in this province. However, Asia-Pacific is estimated to portray the fastest CAGR of 7.4% from 2020 to 2027, owing to rise in awareness related to use of imaging in clinical trials and rise in number of clinical trials conducted in the region.

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Q7. Does the Clinical Trial Imaging Services Market report provides Value Chain Analysis?
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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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