Growing number of clinical trials and adoption of automation in imaging process to drive the imaging clinical research organization (CRO) market in the forecast period, 2023-2027.
According to TechSci Research report, “Imaging Clinical Research Organization (CRO) Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”, the global imaging clinical research organization (CRO) market is anticipated to grow at a significant rate in the forecast period, 2023-2027. The rising number of clinical trials, increasing prevalence of rare diseases, and extensive research and development are the primary factors driving the demand for the global imaging clinical research organization (CRO) market. The surge in the number of biotechnology and pharmaceutical industries, increased research and development investments for developing new drugs to treat various diseases, rising healthcare expenditure, and rising automation of imaging process are expected to influence the market demand. Also, the rise in adoption of growing number of strategic acquisitions and mergers by the market players are also a key factor for increasing the growth of the imaging clinical research organization (CRO) market, globally.
However, the massive installation costs of medical imaging systems, logistical and supply chain may hamper the growth of the global imaging clinical research organization (CRO) market.
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The global imaging clinical research organization (CRO) market is segmented into services offered, imaging modality, clinical trial phase, application, end user, and company. Based on services offered, the market is divided into imaging acquisition and protocol development, application design, image collection and quality control, digital image conversion, support and maintenance, and others. The imaging acquisition and protocol development segment is expected to hold the largest market share.
Based on imaging modality, the market is divided into computed tomography (CT) scan, magnetic resonance imaging (MRI), positron emission tomography (PET), and others. The computed tomography (CT) scan segment is anticipated to grow during the forecast period.
Based on clinical trial phase, the market is divided into phase 1, phase 2, and phase 3. The phase 3 segment is anticipated to grow during the forecast period.
Based on application, the market is divided into oncology, neurology, cardiovascular, ophthalmology, and others. The cardiovascular segment is anticipated to grow during the forecast period.
Based on end user, the market is divided into pharmaceutical & biotechnology companies, medical device manufacturers, academic & research institutions, and others. The pharmaceutical & biotechnology companies segment is anticipated to grow during the forecast period. This is attributed to the expansion of biotechnological and pharmaceutical industries.
Major operating companies operating in global imaging clinical research organization (CRO) market are:
- Laboratory Corporation of America Holdings
- IXICO PLC
- ICON plc
- The Micron Group
- Medpace Holdings, Inc.
- Radiant Sage LLC
- Biomedical Systems Corporation
- Worldcare Clinical, LLC
- Imaging Endpoints LLC
- Parexel International Corporation
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“North America region dominates the market in 2021 and is expected to maintain its dominance in the coming years due to the presence of big companies and an increase in R&D activities. The surge in number of clinical trials, rising healthcare expenditure and increasing number of iCRO’s in the region are another key factor. Also, expansion of strategies and adoption of advanced technologies in the region are expected to propel the global imaging clinical research organization (CRO) market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Imaging Clinical Research Organization (CRO) Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027 Segmented By Services Offered (Imaging Acquisition and Protocol Development, Application Design, Image Collection and Quality Control, Digital Image Conversion, Support and Maintenance, Others), By Imaging Modality (Computed Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), Others), By Clinical Trial Phase (Phase 1, Phase 2, Phase 3), By Application (Oncology, Neurology, Cardiovascular, Ophthalmology, Others), By End User (Pharmaceutical & Biotechnology Companies, Medical Device Manufacturers, Academic & Research Institutions, Others), By company and By Region”, has evaluated the future growth potential of global imaging clinical research organization (CRO) market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global imaging clinical research organization (CRO) market.
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