Global Imaging CRO Market to Expand as Clinical Trials Skyrocket and Demand for Medical Imaging Surges in 2023-2027

DUBLIN, Aug. 29, 2023 /PRNewswire/ — The “Imaging Clinical Research Organization Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017 – 2027 Segmented By Services Offered, By Imaging Modality, By Clinical Trial Phase, By Application, By End User, By company and By Region” report has been added to ResearchAndMarkets.com’s offering.

The global imaging clinical research organization (CRO) market is poised for impressive growth in the forecast period of 2023-2027.

Key drivers such as escalating clinical trials, continuous R&D investment, and technological advancements are fueling the market’s expansion. The integral role of medical imaging in advancing life science products, coupled with the surge in biotechnology and pharmaceutical sectors and increased R&D funding for novel disease treatments, are major contributors to this growth.

The market’s upward trajectory is further supported by factors like increased automation, adoption of imaging technology, and a surge in mergers and acquisitions.

Rising Clinical Trials Pave the Way for Market Surge

A surge in clinical research has led to a significant increase in clinical trials, propelling the imaging CRO market. Clinical trials are now empowered by Imaging Clinical Research Organizations, delivering invaluable insights across industries such as medical devices, biotech, and pharmaceuticals. The importance of medical imaging in these trials is undeniable, with clinical trial numbers nearly doubling from 2010 to 2020, as reported by Keosys Medical Imaging.

R&D Surge and Technological Advancements Catalyze Growth

Robust research and development activities are driving market growth, particularly in the field of radiology and imaging sciences. This surge in R&D efforts is yielding cutting-edge technologies and refined techniques for identifying and treating human abnormalities and diseases. The role of medical imaging in assessing medical interventions is becoming increasingly vital, further enhancing the market. Moreover, the continuous rise in R&D spending is further fostering the market’s expansion.

Automation Revolutionizes Imaging CRO Process

Technological leaps, including automation in the imaging CRO process, are pivotal to market growth. Automation has revolutionized industries like biotechnology and pharmaceuticals, enhancing process efficiency, error control, and time savings. One such milestone is Abbott’s 2021 FDA-cleared optical coherence tomography (OCT) imaging platform, integrating AI for comprehensive coronary blood flow analysis and treatment guidance.

Diverse Key Players in the Market

The global imaging CRO market features prominent players including 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, and Parexel International Corporation.

Segmentation and Scope

The comprehensive report encompasses several segments within the global imaging CRO market:

Services Offered:

Imaging Acquisition and Protocol Development
Application Design
Image Collection and Quality Control
Digital Image Conversion
Support and Maintenance
Others

Imaging Modality:

Computed Tomography (CT) Scan
Magnetic Resonance Imaging (MRI)
Positron Emission Tomography (PET)
Others

Clinical Trial Phase:

Phase 1
Phase 2
Phase 3

Application:

Oncology
Neurology
Cardiovascular
Ophthalmology
Others

End Users:

Pharmaceutical & Biotechnology Companies
Medical Device Manufacturers
Academic & Research Institutions
Others

For more information about this report visit https://www.researchandmarkets.com/r/nlls18

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