Revolutionizing Research: The Transformative Role of Imaging in Clinical Trials

Imaging In Clinical Trials Market Overview

Imaging In Clinical Trials Market size is estimated to reach $1,427 million by 2027, growing at a CAGR of 5.5% during the forecast period 2022-2027. Clinical imaging can be demarcated as the process by which images of the body of a person can be shaped using various techniques like echocardiography, OCT (=Optical Coherence Tomography), X-ray, CT (=Computerized Tomography) perfusion imaging which is of prodigious help in diagnosing and treating diseases with care. Whereas X-ray fails to deliver, nuclear imaging like intrinsic imaging helps examine the composition of tissue and biological structure with jaw-dropping precision. The COVID-19 outbreak has changed the world we are living in; Human beings have become more aware as the prevalence threat of various infections and contagious diseases have been risen and making the outlook of Clinical Imaging quite appealing. Technological advancements in discovering new drugs and medicines, virus attacks, spending on the healthcare system by the government to tackle upcoming contingencies are set to drive the growth of the Imaging In Clinical Trials Industry for the period 2022-2027.

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Report Coverage:

The report: “Imaging In Clinical Trials Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Imaging In Clinical Trials Market. 

By Curative Area: Cardiovascular, Immunology, Hepatology, Arthritis, Osteoporosis, Orthopedics, Ophthalmology, Dermatology, Oncology By Mode/Style: X-Ray, Fluoroscopy, Ultrasound, MRI, CT (=Computed Tomography), PET, Prior-Clinical Imaging, Echocardiography. By Patron/End User: Medical gadget makers, Medicament companies, Government research bodies, private research institutes, Bio-Tech companies. By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and Rest of World (the Middle East and Africa).

Key Takeaways:

• Geographically, the North America Imaging In Clinical Trials Market accounted for the highest revenue share in 2021 but Asia-Pacific is poised to dominate the market over the period 2022-2027 owing to the rise in Population, ameliorating health infrastructure.
• Increasing transmissible diseases and progress in technological breakthroughs are expected to augment the Imaging In Clinical Trials Market. However, Innumerable banknotes required to set up necessary equipment and other apparatuses could strangle the growth of the Imaging in Clinical Trails Market. 
• Detailed analysis on the Strength, Weaknesses and Opportunities of the prominent players operating in the market will be provided in the Imaging In Clinical Trials Market report.

Imaging In Clinical Trials Market Segment Analysis - By Curative Area

The Imaging In Clinical Trials Market based on the Curative area can be further segmented into cardiovascular (= related to heart and blood vessels), immunology, Hepatology (= associated with diseases related to the liver), arthritis (= related to Joint problems), Osteoporosis, Orthopedics (= Bones abnormalities), Ophthalmology, Dermatology, Oncology. The Oncology segment held the largest share owing to the factors such as more money paddled into the research and development, enlarging population of elderly people, the wrong lifestyle of people in the modern era leading to such problems. As per the reports, nearly 21% of the European Union were aged above 65+.

The Ophthalmology and Oncology segment is estimated to be the fastest-growing segment with a CAGR of 6.1% over the period 2022-2027. This growth is owing to a surge in problems related to the below areas. As mobile phones are deeply-rooted in people’s lives and have become an indispensable and unremovable part. As a result, eye diseases have come to the foreground like never. The occurrence of cancer has prevailed across the world. All these factors are supposed to fuel the demand.

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Imaging In Clinical Trials Market Segment Analysis - By Mode

The Imaging In Clinical Trials Market based on the Mode can be further segmented into X-ray, Fluoroscopy, Ultrasound, MRI (= Magnetic Resonance Imaging), CT (= Computed Tomography), PET, Prior Clinical Imaging, Echocardiography. The CT (= Computed Tomography) segment held the largest share in 2021 owing to the factors such as the ubiquitous presence of facilities, Modern lifestyle resulting in numerous health matters as the colossal sum of activities are accomplished with machines, and not manually, enlargement in the prevalence of infectious diseases, Swelling vigor consciousness among people, progress in newfangled and advance health infrastructure. Additionally, CT scans were predominantly performed in the COVID cases, as they helped in infuriating lung pneumonia and infection.

The CT segment is estimated to be the fastest-growing segment with a CAGR of 6.3% over the forecast period 2022-2027. This growth is owing to precision regarding diagnosing minuscule details of ailment and omnipresence hereness, Channeling of more hard cash into R&D.

Imaging In Clinical Trials Market Segment Analysis - By Geography

The Imaging In Clinical Trials based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 35% of the market in 2021. The growth in this segment is owing to the factors such as Top-grade Health infrastructure, the presence of a prime organization that deals in outsourcing, rapid enlargement in the population of elderly people, the commonness of transmissible diseases. Large manufacturing companies like Siemens Healthineers are used to selling over 200 CT scan machines annually. The coronavirus outbreak has prompted a significant rise in demand for CT scan equipment, as Siemens reported sales of 80-100 units in just 45 days. 

Whereas, in the future, the Asia-Pacific is estimated to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to various factors such as enlarging inhabitants in the region, evolving health infrastructure as economies of developing nations like India, China, Indonesia, Vietnam augmenting, and government and organizations siphoning supplementary hard cash in research and development.

Imaging In Clinical Trials Market Drivers

Technological advancements and breakthroughs are Expected to Boost Product Demand

Innumerable contemporary imaging techniques like CT, MRI, Nuclear Imaging, PET scan, and Fluoroscopy are the best things since sliced bread, as they are providing an inclusive and preeminent way to solve the health problems of contemporary society. These techniques operate with jaw-dropping precision and diagnose minuscule issues from the patient’s body. Apart from this, day-after-day researchers are stumbling upon technological breakthrough which is helping them to excavate deeper into organs, their structure, and functionalities with utmost precision.

Enlarging Population is Projected to Drive Market Growth

Out of 7.9 billion people in the world, an estimated 700 million people aged above 65, and the number is expected to enlarge up to 1-2 billion in the coming future. Old age brings Physical suffering and a plethora of health problems with it which is being considered as a prominent factor to boost the demand for Imaging in the Clinical Market as it provides quality solutions to these problems.

Imaging In Clinical Trials Market Challenges

Extortionate prices and side effects posed by clinical imaging are Anticipated to Hamper Market Growth

Clinical imaging isn’t dozen a dime, they can cost an arm and leg. On top of that, Innumerable banknotes are required to set up necessary equipment and other apparatuses. Similarly, the cost of operating is extortionate which maximum people cannot manage to pay which could strangle the growth of the Imaging in Clinical Trails Market. Moreover, various side effects of clinical imaging like when the body of patients gets exposed to X-Rays there’s the likelihood of it developing cancer cells over time. Therefore, people may become aversive toward it. 

Imaging In Clinical Trials Industry Outlook

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in this market. Imaging in Clinical top 10 companies include:

1. Butterfly Network
2. Owkin
3. Arterys
4. shimadzu
5. CellmatiQ
6. VoxelCloud
7. Infervision
8. Curemetrix 
9. MedyMatch
10. Hitachi Medical

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Partnerships/recent developments: 

• In November 2021, Philips announced a new addition to its CT suite, notably its new CT 5100- Incisive. The CT smart workflow would offer artificial intelligence-enabled capabilities which would result in an increased workflow, thereby improving and enhancing diagnostics and maximizing equipment uptime. Further, GM of the Computed Tomography segment told – “By automating many of the process-related obstacles to CT imaging performance, we aim to clear the way for precision in dose, speed, and image quality that will help imaging departments to meet their financial, clinical, and operational goals.”
• In November 2021, GE Healthcare unveiled close to 60 new products, which include screening, diagnostics, therapy planning, additional guidance, and monitoring. SIGNA Hero, a 3.0 MRI system with new workflows and AIR Recon DL enhancements; Revolution Apex platform, which offers low dose scanning for routine and challenging cases in many care areas; AMX Navigate, GE's newest portable X-ray technology, featuring Zero Click Exam workflow to decrease X-ray technologist strain.
• In November 2021, Fujifilm announced a new velocity MRI system. It is a high-field open MRI system, which is designed to streamline workflows and enhance the overall patient experience, by also including integrated radiofrequency coils and other reconstruction technologies. Its anatomy-conformable Synergy Flex coil is billed as the first of its kind for an open, vertical field MRI scanner, according to the company, and its open gantry offers a more spacious feeling for claustrophobic, bariatric, geriatric, and pediatric patients. 

𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

IXICO |Navitas Life Sciences|Resonance Health Ltd|ProScan Imaging|Radiant Sage Ventures|Medpace|Biomedical Systems|Cardiovascular Systems, Inc. |BioTelemetry, Inc.

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