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Clinical Trial Imaging Market Size, Share, Growth, Analysis, Demand, Trends, Application and Forecast 2024

01.31.2019 · Posted in Writing and Speaking

The global clinical trial imaging market is growing at significant rate, due to mounting research and development spending by growing biotechnology and pharmaceutical industries and boosting number of contract research organization (CROs).

Different products and services contributed to the clinical trial imaging market size. The market has witnessed high demand for services segment over the last few years due to elevated price of the imaging equipment.

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Clinical Trial Imaging Market

On the basis of product and services, the clinical trial imaging market is sub divided into services and software. Of both, service segment market account the larger share and is expected to grow at the fastest rate in the market, due to elevated price of the imaging equipment and mounting outsourcing of imaging clinical trial by medical device, pharmaceutical, and biotechnology manufacturers.

The different end users of the market are academic and government research institutes, pharmaceutical companies, contract research organizations, biotechnology companies, medical device manufacturers, and others. Mounting research and development finances of pharmaceutical companies is the factors growing the demand of pharmaceutical companies.

The mounting research and development spending by growing biotechnology and pharmaceutical industries, expansion in pharmaceutical and biotechnology industries and boosting number of CROs are the primary growth drivers for clinical trial imaging market.

The excessive cost of clinical trials, high employment price of imaging systems and elevated cost of positron emission tomography are the major challenges for the growth of clinical trial imaging market. High investment is involved in the drug development process in clinical trials.

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North America is the largest clinical trial imaging market as in the region the research and development spending is huge. Asia-Pacific is observed to witness fastest growth in the market, as in the region number of biotechnology and pharmaceutical companies are increasing.

Parexel International Corporation, Radiant Sage LLC, ICON Plc, Biomedical Systems Corporation, Biotelemetry, Inc., Intrinsic Imaging LLC, Cardiovascular Imaging Technologies, LLC, Ixico PLC, and Worldcare Clinical, LLC are the key players offering clinical trial imaging.

Source: VynZ Research

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