The growing pharmaceutical and biotechnology industries’ increasing R&D expenditure is expected to propel the growth of the global clinical trial imaging market.
Sarasota, FL -- (SBWIRE) -- 10/06/2017 -- Global Clinical Trial Imaging Market: Overview
The use of the imaging systems in the non-clinical and clinical trials is been carried out since long. The clinical imaging is majorly used to obtain human physiology or anatomy information's which are undeniable as well as interpretable. The use of the imaging systems is mainly in the research and development, pharmaceutical and biotechnology sector, and medical sector. The systems help give accurate and effective information. The clinical images help evaluate the drug delivery mode, prevention, treatment, and identification of various medical conditions.
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Global Clinical Trial Imaging Market: Growth Factors
The growing pharmaceutical and biotechnology industries' increasing R&D expenditure is expected to propel the growth of the global clinical trial imaging market. The growing population leads to increasing urbanization and new technological advancements which in turn boost the global market. The escalating research organizations and the rising number of pharmaceutical and biotechnology companies are the factors fueling global market growth. The use of clinical trial imaging systems in the medical devices market boosts the growth of the global market. The stringent government regulations regarding the product development and its impact and the high cost of the imaging systems restrain the growth of global clinical trial imaging market.
Global Clinical Trial Imaging Market: Segmentation
The global clinical trial imaging market is bifurcated based on the modality, product and services, and end user. The modality segment is divided into X-ray, computed tomography, positron emission tomography, magnetic resonance imaging, echocardiography, ultrasound, dual-energy X-ray absorptiometry, and magnetic resonance elastography. The product and service segment is categorized into software and services. The end user segment is further classified into academic and government research institutes, medical device manufactures pharmaceutical companies, biotechnology companies, contract research organizations, and cosmetics and skin care industries.
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Global Clinical Trial Imaging Market: Regional Analysis
North America is expected to dominate the global clinical trial imaging market. This market is mainly driven by the huge R&D expenditure, rising number of CROs, and increasing number of pharmaceutical and biotechnology companies. Asian market also attributes to the global market growth due to the growing industrialization, urbanization, and high per capita income. The emerging markets in the Asian region such as India, China, and Japan are profitable for global clinical trial imaging market.
Global Clinical Trial Imaging Market: Competitive Players
The key players which contribute the majority of their shares in the global clinical trial imaging market include PAREXEL International Corporation, Intrinsic Imaging LLC, BioClinica Inc., IXICOPLC, and ICON Public Limited Company. The other players that dominate the global market are Cardiovascular Imaging Technologies, BioTelemetric Inc., Biomedical Systems, Radiant Sage LLC, and WorldCare Clinical LLC. These competitive players in the global market adopt various strategies such as the signing of agreements, bonds, contracts, mergers and acquisitions, joint ventures, partnerships, collaborations, and new clinical trial image product launch for acquiring a standard position in the global market.
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Global Clinical Trial Imaging Market: Regional Segment Analysis
The Middle East and Africa