At 7.1 % CAGR, the Europe Clinical Trial Imaging Market is projected to be worth US$ 705.65 million by 2028, says The Business Market Insights

According to the Business Market Insights’ research, the Europe clinical trial imaging market was valued at US$ 501.22 million in 2023 and is expected to reach US$ 705.65 million by 2028, registering a CAGR of 7.1% from 2023 to 2028. Spur in number of CROs offering medical imaging services and accelerated clinical trial activities in pharmaceutical and biotechnology industry are the critical factors attributed to the Europe clinical trial imaging market expansion.                    

Clinical research organizations (CROs) assist in the successful implementation of clinical trials through the services offered using high-quality facilities and deep subject matter expertise. CROs have begun acting as a backbone of the clinical trial industry through their efficient and cost-effective operations that benefit trial sponsors. For example, on an average, CROs take 30% lesser time than in-house activity to conduct and complete clinical trials. With the rising number of CROs leading to high competition, some of these businesses offer specialized imaging services, thus emerging as imaging CROs (iCROs). The CROs offer key knowledge insights in areas such as site qualification for imaging, acquisition of standardized images, and determination of read designs and criteria, thereby contributing to the growth of the overall Europe clinical trial imaging market.  

On the contrary, high investment and standardized infrastructure requirements hurdles the growth of Europe clinical trial imaging market. 

Based on modality, the Europe clinical trial imaging market is segmented into tomography, magnetic resonance imaging (MRI), ultrasound, positron emission tomography (pet), x-ray, echocardiography, and others. The tomography segment held 38.1% market share in 2023, amassing US$ 191.11 million. It is projected to garner US$ 271.41 million by 2028 to expand at 7.3% CAGR during 2023–2028.

Based on offering, the Europe clinical trial imaging market is segmented into operational imaging services, imaging software, read analysis services, trial design and consulting services, and others. The operational imaging services segment held 33.1% market share in 2023, amassing US$ 165.81 million. It is projected to garner US$ 230.94 million by 2028 to expand at 6.9% CAGR during 2023–2028.

Based on end user the Europe clinical trial imaging market is segmented into contract research organizations (CROs), pharmaceutical and biotechnology companies, academic and research institutes, and others. The contract research organizations (CROs) segment held 45.4% market share in 2023, amassing US$ 227.39 million. It is projected to garner US$ 322.74 million by 2028 to expand at 7.3% CAGR during 2023–2028.

Based on country, the Europe clinical trial imaging market has been categorized into UK, Germany, France, Italy, Spain, and the Rest of Europe.  Our regional analysis states that Germany captured 27.0% market share in 2023. It was assessed at US$ 135.13 million in 2023 and is likely to hit US$ 194.12 million by 2028, exhibiting a CAGR of 7.5% during the forecast period.     

Key players dominating the Europe clinical trial imaging market are Calyx Inc, eResearch Technology Inc, ICON PLC, IXICO plc, Medical Metrics Inc, VIDA Diagnostics Inc, and WCG Clinical Inc among others.   

• In Mar-2023, Clario, a healthcare research technology company that delivers leading endpoint technology solutions for clinical trials, has announced a partnership with Strados Labs to provide the FDA-cleared RESP Biosensor for clinical trials. This innovative, wearable device is lightweight, comfortable and non-invasive, with capabilities that have not previously existed on the market, such as allowing for objective assessment of crackles, rhonchi, and wheeze events, as well as offering a streamlined approach for at-home cough monitoring in trial participants.

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