In this report, the global clinical trial imaging market is broadly segmented by product and service, modality, end user, and region. On the basis of product and service, the clinical trial imaging market is segmented into software and services. Services segment is classified into operational imaging services, reader services, systems & technology, and design consulting. The service segment is expected to account for the largest share of the clinical trial imaging market in 2016. The large share of this segment can primarily be attributed to high cost of the imaging equipment, which is leading to increased outsourcing of imaging clinical trial by pharmaceutical, biotechnology, and medical device manufacturers to service providers.
On the basis of modality, the clinical trial imaging market is broadly classified into CT, MRI, PET, ultrasound, ECHO, x-ray, and other modalities. In 2016, the CT segment is expected to account for the largest share of the global clinical trial imaging market. The large share of this segment is attributed to the high advantages of CT in screenings for cancer (tumors), injuries, and abnormalities inside the body.
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On the basis of end user, the clinical trial imaging market is categorized into pharmaceutical companies, biotechnology companies, medical device manufacturers, contract research organizations, academic and government research institutes, and other end users. In 2016, Pharmaceutical companies form the largest end-user segment of the clinical trial imaging market. Increased R&D budgets of pharmaceutical companies are the primary growth driver for this end-user segment.
The global clinical trial imaging market is projected to reach USD 1069 million by 2021 from USD 773.4 million in 2016, at a CAGR of +6% from 2016 to 2021. Increase in R&D spending and growth in the pharmaceutical and biotechnology industries and the increasing number of contract research organizations are the key drivers for the growth of the clinical trial imaging market.
Developing markets in Asia such as Japan, China, and India are lucrative markets for clinical trial imaging. Asia is expected to grow at the highest CAGR in the forecast period. The growth in the Asian clinical trial imaging market is driven by the growth in pharmaceutical & biotechnology industries and increase in R&D spending in the region.
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From an insight perspective, this research report focuses on qualitative data, market size, and growth of various segments and sub-segments, competitive landscape, and company profiles. The qualitative data covers various levels of industry analysis such as market dynamics (drivers, restraints, opportunities, and threats), winning imperatives, and burning issues. The report also offers market sizes and data on the growth of various segments in the industry. It focuses on emerging and high-growth segments, high-growth regions, and initiatives of governments. The competitive landscape covers growth strategies adopted by industry players in the last three years. The company profiles comprise basic views on key players in the clinical trial imaging market and the product portfolios, developments, and strategies adopted by market players to maintain and increase their market shares in the near future. The above-mentioned market research data, current market size, and forecast of future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, change in approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.