Clinical Trial Imaging Market Growing at a CAGR of 6.7% During 2016 to 2021
The global clinical trial imaging market is broadly segmented by product and service, modality, end user, and region and according to this study; the market is to grow at a CAGR of 6.7% from 2016 to 2021 to hit USD 1069.7 million by 2021.
Pune, India – December 15, 2016 /MarketersMedia/ —
The global clinical trial imaging market is projected to reach USD 1069.7 million by 2021 from USD 773.4million in 2016, at a CAGR of 6.7% 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.
Complete report on global clinical trial imaging market spread across 123 pages, profiling 10 companies and supported with 77 tables and 32 figures is now available at http://www.reportsnreports.com/reports/785426-clinical-trial-imaging-market-by-product-services-software-modality-ct-mri-pet-ultrasound-echocardiography-x-ray-end-user-pharmaceutical-companies-biotechnology-companies-cros-medical-device-manufac-st-to-2021.html .
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.
The key players in the global clinical trial imaging market are BioClinica, Inc. (U.S.), Biomedical Systems (U.S.), Cardiovascular Imaging Technologies (U.S.), ICON Public Limited Company (Ireland), Intrinsic Imaging, LLC (U.S.), IXICO, PLC (U.K.), PAREXEL International Corporation (U.S.), Radiant Sage, LLC (U.S.), BioTelemetric, Inc. (U.S.), and WorldCare Clinical, LLC (U.S.). Order a copy of Clinical Trial Imaging Market by Product & Services (Software), Modality (CT, MRI, PET, Ultrasound, Echocardiography, X-Ray), End User (Pharmaceutical Companies, Biotechnology Companies, CROs, Medical Device Manufacturers) – Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=785426 .
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.
Collaboration, Partnership, and Agreement was the dominant strategy adopted by key industry participants to increase their market share and cater to unmet needs.
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