Product Launch (Blog)

Jul, 18 2024

Driving Innovation and Growing Demand: The Global Clinical Trial Imaging Market Expands Amid Technological Advancements

The global clinical trial imaging market is experiencing steady growth, driven by the increasing complexity of clinical trials and the rising demand for innovative imaging techniques. Clinical trial imaging plays a crucial role in the development of new drugs and therapies by providing detailed insights into the effects of these treatments on patients. The market is also benefiting from advancements in imaging technologies, such as MRI, CT, and PET, which allow for more accurate and comprehensive imaging during clinical trials. In addition, the growing prevalence of chronic diseases and the rising number of clinical trials worldwide are contributing to market growth. Overall, the global clinical trial imaging market is poised for further expansion as pharmaceutical companies and research organizations continue to recognize the importance of imaging in clinical trials.

The Global Clinical Trial Imaging Market size was valued at USD 1.14 billion in 2023 and is projected to reach USD 2.13 billion by 2031, with a CAGR of 8.1% during the forecast period of 2024 to 2031.

Below are the Top Five Clinical Trial Imaging Companies with a Significant Market Share:

Rank

Company

Overview

Product Portfolio

Sales Geographical Coverage

Developments

1.

Navitas Life Sciences

Navitas Life Sciences is a global, full-service contract research organization (CRO) that provides comprehensive clinical trial imaging services. The company specializes in delivering innovative solutions to pharmaceutical, biotechnology, and medical device companies. Navitas Life Sciences offers a range of services for the clinical trial imaging market, including imaging protocol development, image analysis, data management, and regulatory compliance support. The company's imaging services are designed to enhance the efficiency and accuracy of clinical trials, ultimately leading to improved patient outcomes.  Navitas Life Sciences leverages advanced imaging technologies such as MRI, CT, PET, and ultrasound to provide high-quality imaging data for clinical trials. The company also utilizes sophisticated image analysis software to extract meaningful insights from imaging data.

  • Oncology/Hematology
  • Dermatology
  • Endocrinology
  • Respiratory
  • Gastrointestinal (GI)

North America, Europe, Asia-Pacific

In October 2021, Navitas Life Sciences, a wholly-owned subsidiary of TAKE Solutions and provider of Pharmacovigilance, Regulatory, and Clinical solutions and services, announced that it has been named as the Top 10 Pharma and Life Sciences Tech Solution Provider 2021 by Industry Tech Outlook. This helped the company to increase its global presence in the market.

2.

Resonance Health Ltd

 

Resonance Health Ltd is a leading provider of imaging technologies and services for the clinical trial imaging market. The company specializes in developing and commercializing innovative imaging solutions for liver and cardiac assessments. Resonance Health Ltd's flagship product, FerriScan, is a clinically validated MRI-based technology for the quantification of liver iron concentration. The company also offers Cardiac T2* MRI for the assessment of cardiac iron overload in patients with thalassemia.

 

  • FerriScan
  • HepaFat-Scan
  • Cardiac T2
  • BoneMarrowR2

North America, Middle East and Africa, Europe, Asia-Pacific

In October 2022, Resonance Health Ltd announced the launch of its new initiative, Resonance Clinical. This initiative is aimed at leveraging the rapidly growing global clinical trial market, particularly for new drugs and therapies targeting liver diseases such as iron-overload disorders and NAFLD/NASH. These conditions are estimated to affect up to 30% of the global population.

3.

Clario

Clario is a leading provider of imaging and data management solutions for the clinical trial imaging market. The company offers a comprehensive suite of services designed to streamline the imaging process and enhance the quality of imaging data in clinical trials. Clario's services include imaging protocol development, image acquisition and analysis, data management, and regulatory compliance support. The company's services are tailored to meet the specific needs of each clinical trial, ensuring high-quality imaging data for research purposes. Clario utilizes advanced imaging technologies such as MRI, CT, PET, and ultrasound to provide high-quality imaging data for clinical trials.

  • Image Redact AI
  • Image Repository
  • SMART Submit

North America, Europe, Asia-Pacific

In January 2022, Clario partnered with XingImaging, a radiopharmaceutical production and Positron Emission Tomography (PET) acquisition company, to deliver PET imaging clinical trials for testing novel therapeutics in China. The partnership offers to share the joint resources and neuroscience experts of Clario and XingImaging to expedite the startup of clinical trials and drug discovery in China.

4.

Parexel International (MA) Corporation

 Parexel International (MA) Corporation is a global contract research organization (CRO) that offers a range of services for the clinical trial imaging market. The company provides comprehensive imaging solutions to support all phases of clinical trials. Parexel International (MA) Corporation's imaging services include imaging protocol development, image acquisition and analysis, data management, and regulatory compliance support. The company's services are designed to streamline the imaging process and enhance the quality of imaging data in clinical trials.

  • Therapeutic Expertise
  • Oncology Imaging
  • Neurology Imaging
  • Women's Health Imaging
  • Ophthalmology Imaging

North America, Middle East and Africa, Europe, Asia-Pacific

 

In January 2021, Parexel International Corporation announced its separation from medical business imaging. The business separation is expected to simplify and streamline Parexel’s business strategy and customer relationships while best positioning both organizations for continued, long-term growth and success. As part of the separation, Parexel Informatics will become Calyx.

5.

BioTelemetry, a Philips Company

BioTelemetry, a Philips Company, is a leading provider of remote cardiac monitoring services for the clinical trial imaging market. The company offers a range of imaging solutions designed to improve patient care and streamline the clinical trial process. BioTelemetry's imaging services include remote cardiac monitoring, Holter monitoring, event monitoring, and mobile cardiac telemetry. The company's services are designed to provide real-time monitoring of cardiac activity, allowing for early detection of cardiac issues in clinical trial participants.

  • Medical Imaging
  • Cardiovascular
  • Metabolic Diseases
  • Musculoskeletal
  • Neurology

North America, Europe

In February 2021, Royal Philips, a global leader in health technology, finalized the acquisition of BioTelemetry, Inc., a prominent U.S.-based provider of remote cardiac diagnostics and monitoring. Effective February 9, 2021, BioTelemetry's financial results will be integrated into Philips' Connected Care business segment.

Conclusion

The market is experiencing significant growth driven by several key factors. The increasing complexity of clinical trials, coupled with the rising demand for innovative imaging techniques, is fueling market expansion. Advancements in imaging technologies such as MRI, CT, and PET are enabling more accurate and comprehensive imaging, further boosting market growth. Key players in the market, including Navitas Life Sciences, Resonance Health Ltd, Clario, Parexel International (MA) Corporation, and BioTelemetry, are driving innovation and providing comprehensive imaging solutions for clinical trials. These companies offer a range of services, including imaging protocol development, image acquisition and analysis, data management, and regulatory compliance support. Overall, the market is poised for further expansion, driven by ongoing technological advancements, increasing demand for innovative imaging solutions, and the growing importance of imaging in clinical trials.


Client Testimonials