Published Year: 2021
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Table of Contents
1.1 Market Definition
1.2 Global Imaging CRO Market Footprint
1.3 Realistic and Optimistic View of Global Imaging CRO Market, $Million, 2020-2031
1.4 Current Imaging CRO Landscape
2.1 Regulatory Framework in the U.S.
2.1.1 Imaging CRO Workflow
2.2 Regulatory Framework in Europe
2.3 Regulatory Framework in Asia-Pacific Countries
2.3.1 China
2.3.2 Japan
3.1 Market Dynamics
3.1.1 Drivers
3.1.1.1 Continued Growth in R&D Spending
3.1.1.2 Increase in the Annual Number of Clinical Trials with Medical Imaging
3.1.2 Restraints
3.1.2.1 High Installation Cost of Medical Imaging Systems
3.1.2.2 Supply Chain and Logistical Challenges
3.1.3 Opportunities
3.1.3.1 Increasing Outsourcing Trend Among Pharmaceutical Companies
3.1.3.2 Automation in Imaging CRO Process
4.1 Overview
4.2 Synergistic Activities
4.2.1 Mergers and Acquisitions
4.2.2 New Service Launch
4.2.3 Expansion
4.3 Market Share Analysis, By Company
4.4 Growth Share Analysis, By Company
5.1 Overview
5.1.1 Imaging Acquisition and Protocol Development
5.1.2 Application Design
5.1.3 Image Collection and QC
5.1.4 Digital Image Conversion
5.1.5 Support and Maintenance
6.1 Overview
6.1.1 Computed Tomography (CT) Scan
6.1.2 Magnetic Resonance Imaging (MRI)
6.1.2.1 Diffusion Tensor Imaging (DTI)
6.1.2.2 Functional MRI (fMRI)
6.1.2.3 Resting-State Functional Connectivity MRI (fcMRI)
6.1.2.4 Volumetric MRI (vMRI)
6.1.2.5 Arterial Spin Labeling for Quantitative Perfusion Imaging (ASL)
6.1.3 Positron Emission Tomography (PET)
6.1.3.1 Positron Emission Tomography with 18F Isotope (FDG-PET)
6.1.3.2 Other PET
6.1.4 Other Modalities
6.1.4.1 X-Rays
6.1.4.2 Ultrasound
6.1.4.3 Scanning Laser Ophthalmoscopy (SLO)
6.1.4.4 Optical Coherence Tomography
6.1.4.5 Scanning Laser Polarimetry (SLP)
6.1.4.6 Others
7.1 Overview
7.1.1 Phase I
7.1.2 Phase II
7.1.3 Phase III
8.1 Overview
8.1.1 Oncology Imaging CRO
8.1.2 Ophthalmology Imaging CRO
8.1.3 Neurology Imaging CRO
8.1.4 Cardiology Imaging CRO
8.1.5 Other Applications
9.1 Overview
9.1.1 Pharmaceutical Companies
9.1.2 Biotechnology Companies
9.1.3 Medical Device Manufacturers
9.1.4 Contract Research Organizations (CRO)
9.1.5 Academic and Government Research Institutes
9.1.6 Other End Users
10.1 Overview
10.2 North America
10.2.1 U.S.
10.2.2 Canada
10.3 Europe
10.3.1 Germany
10.3.2 U.K.
10.3.3 France
10.3.4 Italy
10.3.5 Spain
10.3.6 Rest-of-Europe
10.4 Asia-Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 Australia
10.4.5 Rest-of-Asia-Pacific
10.5 Rest-of-the-World
11.1 Overview
11.2 Worldcare Clinical, LLC
11.2.1 Company Overview
11.2.2 Role of Worldcare Clinical, LLC in the Global Imaging CRO Market
11.2.3 SWOT Analysis
11.3 LabCorp Drug Development (Laboratory Corporation of America Holdings)
11.3.1 Company Overview
11.3.2 Role of LabCorp Drug Development in the Global Imaging CRO Market
11.3.3 Financials
11.3.4 SWOT Analysis
11.4 IXICO PLC
11.4.1 Company Overview
11.4.2 Financials
11.4.3 SWOT Analysis
11.5 ICON plc
11.5.1 Company Overview
11.5.2 Role of ICON plc in the Global Imaging CRO Market
11.5.3 Financials
11.5.4 SWOT Analysis
11.6 The Micron Group
11.6.1 Company Overview
11.6.2 SWOT Analysis
11.7 Medpace Holdings, Inc.
11.7.1 Company Overview
11.7.2 Financials
11.7.3 SWOT Analysis
11.8 Radiant Sage LLC
11.8.1 Company Overview
11.8.2 SWOT Analysis
11.9 Biomedical Systems Corporation (ERT)
11.9.1 Company Overview
11.9.2 SWOT Analysis
11.10 Bioclinica
11.10.1 Company Overview
11.10.2 SWOT Analysis
11.11 Imaging Endpoints LLC
11.11.1 Company Overview
11.11.2 Role of Imaging Endpoints LLC in the Global Imaging CRO Market
11.11.3 SWOT Analysis
11.12 Parexel International Corporation
11.12.1 Company Overview
11.12.2 Role of Parexel International Corporation in the Global Imaging CRO Market
11.12.3 SWOT Analysis
11.13 Wuxi AppTec
11.13.1 Company Overview
11.13.2 Role of Wuxi AppTec in the Global Imaging CRO Market
11.13.3 Financials
11.13.4 Key Insights About Financial Health of the Company
11.13.5 SWOT Analysis
11.14 Syneos Health, Inc.
11.14.1 Company Overview
11.14.2 Role of Syneos Health, Inc. in the Global Imaging CRO Market
11.14.3 Financials
11.14.4 SWOT Analysis
Table 1: List of Oncology Related Approvals in 2020
Table 2: Imaging Modalities: Pricing Analysis
Figure 1: Global Imaging CRO Market, Realistic and Optimistic Scenario, $Million, 2020-2031
Figure 2: Global Imaging CRO Market Dynamics
Figure 3: Share of Key Market Strategies and Developments, July 2017-July 2021
Figure 4: Growth Share Matrix for Global Imaging CRO Market (by Company), 2019- 2020
Figure 5: Global Imaging CRO Market Research Methodology
Figure 6: Primary Research Methodology
Figure 7: Global Imaging CRO Market, $Million, 2020-2031
Figure 8: Realistic and Optimistic View of Global Imaging CRO Market, $Million, 2020-2031
Figure 9: Overview of CRO and Contract Development and Manufacturing Organization (CDMO) Drug Development Services
Figure 10: Global Imaging CRO Market Dynamics
Figure 11: Share of Key Market Strategies and Developments, July 2017-July 2021
Figure 12: Share of Synergistic Activities (by Company), July 2017- July 2021
Figure 13: Share of Mergers and Acquisitions (by Company), July 2017-July 2021
Figure 14: Market Share Analysis for Global Imaging CRO Market, 2019 and 2020
Figure 15: Growth Share Matrix for Global Imaging CRO Market (by Company), 2019 and 2020
Figure 16: Global Imaging CRO Market (by Service)
Figure 17: Share of Global Imaging CRO Market (by Service), 2020 and 2031
Figure 18: Imaging Acquisition and Protocol Development Market Size and Forecast, $Million, 2020-2031
Figure 19: Application Design Market Size and Forecast, $Million, 2020-2031
Figure 20: Image Collection and QC Market Size and Forecast, $Million, 2020-2031
Figure 21: Digital Image Conversion Market Size and Forecast, $Million, 2020-2031
Figure 22: Support and Maintenance Market Size and Forecast, $Million, 2020-2031
Figure 23: Share of Global Imaging CRO Market (by Modality), $Million, 2020 and 2031
Figure 24: Global Imaging CRO Market (by Computed Tomography (CT) Scan), $Million, 2020-2031
Figure 25: Global Imaging CRO Market (by Magnetic Resonance Imaging (MRI)) $Million, 2020-2031
Figure 26: Global Imaging CRO Market (by Diffusion Tensor Imaging (DTI)), $Million, 2020-2031
Figure 27: Global Imaging CRO Market (by Functional MRI (fMRI)), $Million, 2020-2031
Figure 28: Global Imaging CRO Market (by Resting-State Functional Connectivity MRI (fcMRI)), $Million, 2020-2031
Figure 29: Global Imaging CRO Market (by Volumetric MRI (vMRI)), $Million, 2020-2031
Figure 30: Global Imaging CRO Market (by Arterial Spin Labeling (ASL)), $Million, 2020-2031
Figure 31: Global Imaging CRO Market (by Positron Emission Tomography (PET)), $Million, 2020-2031
Figure 32: Global Imaging CRO Market (by Positron Emission Tomography with 18F Isotope (FDG-PET)), $Million, 2020-2031
Figure 33: Global Imaging CRO Market (by Other PET), $Million, 2020-2031
Figure 34: Global Imaging CRO Market (by Positron Emission Tomography (PET)), $Million, 2020-2031
Figure 35: Global Imaging CRO Market (by X-Ray), $Million, 2020-2031
Figure 36: Global Imaging CRO Market (by Ultrasound), $Million, 2020-2031
Figure 37: Global Imaging CRO Market (by Scanning Laser Ophthalmoscopy (SLO)), $Million, 2020-2031
Figure 38: Global Imaging CRO Market (Optical Coherence Tomography), $Million, 2020-2031
Figure 39: Global Imaging CRO Market (by Scanning Laser Polarimetry (SLP)), $Million, 2020-2031
Figure 40: Global Imaging CRO Market (by Others), $Million, 2020-2031
Figure 41: Global Imaging CRO Market (by End User), $Million, 2020 and 2031
Figure 42: Global Imaging CRO Market (by Phase I), $Million, 2020-2031
Figure 43: Global Imaging CRO Market (by Phase II), $Million, 2020-2031
Figure 44: Global Imaging CRO Market (by Phase III), $Million, 2020-2031
Figure 45: Global Imaging CRO Market (by Application)
Figure 46: Share of Global Imaging CRO Market (by Application), $Million, 2020 and 2031
Figure 47: Global Imaging CRO Market, (by Oncology Imaging CRO), $Million, 2020-2031
Figure 48: Global Imaging CRO Market, (by Ophthalmology Imaging CRO), $Million, 2020-2031
Figure 49: Global Imaging CRO Market, (by Neurology Imaging CRO), $Million, 2020-2031
Figure 50: Global Imaging CRO Market, (by Cardiology Imaging CRO), $Million, 2020-2031
Figure 51: Global Imaging CRO Market, (by Other Applications), $Million, 2020-2031
Figure 52: Global Imaging CRO Market (by End User), $Million, 2020 and 2031
Figure 53: Global Imaging CRO Market, (by Pharmaceutical Companies), $Million, 2020-2031
Figure 54: Global Imaging CRO Market, (by Biotechnology Companies), $Million, 2020-2031
Figure 55: Global Imaging CRO Market, (by Medical Device Manufacturers), $Million, 2020-2031
Figure 56: Global Imaging CRO Market, (by Contract Research Organizations (CRO)), $Million, 2020-2031
Figure 57: Global Imaging CRO Market, (by Academic and Government Research Institutes), $Million, 2020-2031
Figure 58: Global Imaging CRO Market, (by Other End Users), $Million, 2020-2031
Figure 59: Global Imaging CRO Market (by Region), $Million, 2020
Figure 60: Share of North America Imaging CRO Market Revenue (by Country), $Million, 2020-2031
Figure 61: North America: Market Dynamics
Figure 62: U.S. Imaging CRO Market, $Million, 2020-2031
Figure 63: Canada Imaging CRO Market, $Million, 2020-2031
Figure 64: Share of Europe Imaging CRO Market (by Country), $Million, 2020-2031
Figure 65: Europe: Market Dynamics
Figure 66: Germany Imaging CRO Market Revenue, $Million, 2020-2031
Figure 67: U.K. Imaging CRO Market Revenue, $Million, 2020-2031
Figure 68: France Imaging CRO Market Revenue, $Million, 2020-2031
Figure 69: Italy Imaging CRO Market Revenue, $Million, 2020-2031
Figure 70: Spain Imaging CRO Market Revenue, $Million, 2020-2031
Figure 71: Rest-of-Europe Imaging CRO Market Revenue, $Million, 2020-2031
Figure 72: Asia-Pacific: Market Dynamics
Figure 73: Asia-Pacific Imaging CRO Market Revenue (by Country), $Million, 2020-2031,
Figure 74: China Imaging CRO Market Revenue, $Million, 2020-2031
Figure 75: India Imaging CRO Market Revenue, $Million, 2020-2031
Figure 76: Japan Imaging CRO Market Revenue, $Million, 2020-2031
Figure 77: Australia Imaging CRO Market Revenue, $Million, 2020-2031
Figure 78: Rest-of-Asia-Pacific Imaging CRO Market Revenue, $Million, 2020-2031
Figure 79: Rest-of-the-World Imaging CRO Market Revenue, $Million, 2020-2031
Figure 80: Total Number of Companies Profiled
Figure 81: Worldcare Clinical, LLC: Overall Service Portfolio
Figure 82: Worldcare Clinical: SWOT Analysis
Figure 83: LabCorp Drug Development: Overall Service Portfolio
Figure 84: LabCorp Drug Development: Overall Financials, 2018-2020
Figure 85: LabCorp Drug Development: Net Revenue (by Business Segment), 2018-2020
Figure 86: LabCorp Drug Development: Net Revenue (by Region), 2018-2020
Figure 87: LabCorp Drug Development: SWOT Analysis
Figure 88: IXICO PLC: Overall Service Portfolio
Figure 89: IXICO PLC: Overall Financials, 2018-2020
Figure 90: IXICO PLC: Net Revenue (by Region), 2018-2020
Figure 91: IXICO PLC: SWOT Analysis
Figure 92: ICON plc: Overall Service Portfolio
Figure 93: ICON plc: Overall Financials, 2018-2020
Figure 94: ICON plc: Revenue (by Region), 2018-2020
Figure 95: ICON plc: SWOT Analysis
Figure 96: The Micron Group.: Overall Service Portfolio
Figure 97: The Micron Group: SWOT Analysis
Figure 98: Medpace Holdings, Inc.: Overall Service Portfolio
Figure 99: Medpace Holdings, Inc.: Overall Financials, 2018-2020
Figure 100: Medpace Holdings, Inc.: Net Revenue (by Therapeutic Area), 2018-2020
Figure 101: Medpace Holdings, Inc.: SWOT Analysis
Figure 102: Radiant Sage LLC: Overall Service Portfolio
Figure 103: Radiant Sage LLC: SWOT Analysis
Figure 104: Biomedical Systems Corporation (ERT): Overall Service Portfolio
Figure 105: Biomedical Systems Corporation (ERT): SWOT Analysis
Figure 106: Bioclinica: Overall Service Portfolio
Figure 107: Bioclinica: SWOT Analysis
Figure 108: Imaging Endpoints LLC: Overall Service Portfolio
Figure 109: Imaging Endpoints LLC: SWOT Analysis
Figure 110: Parexel International Corporation: Overall Service Portfolio
Figure 111: Parexel International Corporation: SWOT Analysis
Figure 112: Wuxi AppTec: Overall Service Portfolio
Figure 113: Wuxi AppTec: Overall Financials, 2018-2020
Figure 114: Wuxi AppTec: Revenue (by Segment), 2018-2020
Figure 115: Wuxi AppTec: Revenue (by Region), 2018-2020
Figure 116: Wuxi AppTec: R&D Expenditure, 2018-2020
Figure 117: Wuxi AppTec: SWOT Analysis
Figure 118: Syneos Health, Inc.: Overall Service Portfolio
Figure 119: Syneos Health, Inc.: Overall Financials, 2018-2020
Figure 120: Syneos Health, Inc.: Revenue (by Segment), 2018-2020
Figure 121: Syneos Health, Inc.: Revenue (by Region), 2018-2020
Figure 122: Syneos Health, Inc.: SWOT Analysis
Market Report Coverage
|
Imaging CRO Maket |
|||
|
Base Year |
2020 |
Market Size in 2020 |
$4,497.1 Million |
|
Forecast Period |
2021-2031 |
Value Projection and Estimation by 2031 |
$9,603.0 Million |
|
CAGR During Forecast Period |
7.25% |
Number of Tables |
2 |
|
Number of Pages |
149 |
Number of Figures |
122 |
|
Market Segmentation |
• Service – Imaging Acquisition and Protocol Development, Application Design, Image Collection and Quality Control, Digital Image Conversion, Support and Maintenance • Modality – Computed Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), Other Modalities • Application – Oncology Imaging CRO, Ophthalmology Imaging CRO, Neurology Imaging CRO, Cardiovascular Imaging CRO, Other Applications • Phase – Phase I, Phase II, Phase III • End User – Pharmaceutical Companies, Biotechnology Companies, Medical Device Manufacturers, Contract Research Organizations, Academic and Government Research Institutes, Other End Users |
||
|
Regional Segmentation |
• North America – U.S. and Canada • Europe – U.K., Germany, France, Italy, Spain, and Rest-of-Europe • Asia-Pacific – China, Japan, India, Australia, and Rest-of-Asia-Pacific • Rest-of-the-World |
||
|
Market Growth Drivers |
• Continued Growth in R&D Spending • Increase in the Annual Number of Clinical Trials with Medical Imaging |
||
|
Market Challenges |
• High Installation Cost of Medical Imaging Systems • Supply Chain and Logistical Challenges |
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|
Market Opportunities |
• Increasing Outsourcing Trend Among Pharmaceutical Companies • Automation in Imaging CRO Process |
||
|
Key Companies Profiled |
Worldcare Clinical, LLC, LabCorp Drug Development (Laboratory Corporation of America Holdings), IXICO PLC, ICON plc, The Micron Group, Medpace Holdings, Inc., Radiant Sage LLC, Biomedical Systems Corporation (ERT), Bioclinica, Imaging Endpoints LLC, Parexel International Corporation, Wuxi AppTec, Syneos Health, Inc. |
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Key Questions Answered in this Report:
• What is the major factor driving the growth of the global imaging CRO market?
• What are the different types of services offered in the global imaging CRO market?
• What are the key development strategies implemented by the key players to stand out in this global imaging CRO market?
• What are the key modalities used by the key companies within the global imaging CRO market?
• What are the various applications of imaging CRO in different industries?
• In which phase of the clinical trials, does the imaging CRO services are being utilized the most?
• How have the strategic collaborations among the key players provided a large service sector within the global imaging CRO market?
• Which are the leading companies that are dominating the global imaging CRO market?
• Based on the end-user type, which industry in the global imaging CRO market is anticipated to witness a massive rise in demand during the forecast period?
• Which region dominates the global market of imaging CROs?
• Who are the key players operating in the imaging CRO market in each region?
How is each segment of the global Imaging CRO market expected to grow during the forecast period, and what revenue is expected to be generated by each of these segments by the end of 2031?
Report Summary
Maktet Overview
The biopharmaceutical market and its manufacturing capabilities have undergone a profound transformation during the period 2010-2020. The open global market and regulatory reforms within the industry have led to a better outscoring probability. The CROs, imaging CROs, and contract development and manufacturing organizations (CDMOs) are adding quality, cost-effectiveness, and manufacturing capacity to the existing pharmaceutical, biotechnology, and medical devices companies. Moreover, the big pharmaceutical firms are building their manufacturing and buying capacity from the smaller firms to improve their production.
The growing number of clinical trials, growing pharmaceutical pipeline, increasing awareness toward process automation, growing demand for high precision in drug manufacturing, and an increasing dependency of pharmaceuticals and biotechnology companies on the CROs for conducting imaging trials are the main factors driving the growth of the global imaging CRO market.
With the increasing dependency of the pharmaceutical and biotechnology firms on the imaging CROs for outsourcing the medical imaging step of a clinical trials study, the overall market of imaging CROs is expected to grow at a high rate. According to an article published by Keosys Medical Imaging in 2018, the total number of clinical trials conducted each year has nearly doubled in 2020 compared to 2010. However, the growth in the number of clinical trials with medical imaging involved has increased five times, i.e., by around 500%.
With several companies eagerly competing to establish dominance in the global imaging CRO market, several emerging companies have undertaken significant activities to establish their position in the market. Although these companies are currently far behind the market leaders, some of them have made significant strides to grow into major players, owing to initiatives undertaken to expand their respective product portfolio and geographical reach.
BIS healthcare experts have found imaging CRO to be one of the most rapidly evolving markets. The global market for imaging CRO is predicted to grow at a CAGR of 7.25% during the forecast period 2021-2031. As per BIS research, the imaging CRO comprises the ecosystem of multiple services offered, modalities used, and the target customers who can take strategic decisions with the given insights.
The following report presents the reader with an opportunity to unlock comprehensive insights with respect to the global imaging CRO market and helps in forming well-informed strategic decisions. The market research study also offers a wide perspective of the different types of specialty imaging CROs available in the market and their impact on the biopharmaceutical industry by providing critical insights into the direction of its future expansion.
Based on region, North America dominated the global imaging CRO market in 2020 and is expected to grow at a high CAGR from 2021 to 2031. The growing number of clinical trials conducted in the region generates high demand for imaging CROs to distribute workload and cost-effectiveness. In addition, major end users in the region are adopting advanced imaging equipment and automation at a fast pace for efficient processing. Also, the industry’s largest CROs operate in this region as government regulations and programs support the overall growth of the companies. Europe held the second-largest share of the global imaging CRO market in terms of revenue in 2020, followed by Asia-Pacific.
Owing to the COVID-19 pandemic, the investment in research and development in biopharmaceutical companies has increased significantly. Researchers, scientists, and skilled personnel around the world are involved in the development of vaccines and drugs for the treatment of SARS-CoV virus infection, and this scenario is predicted to directly boost the demand for CROs for large scale production in a shorter period, thus enhancing the overall market of imaging CRO.
Within the research report, the market is segmented based on service, modality, application, phase, and end user. Each of these segments covers the snapshot of the market over the projected years, the inclination of the market revenue, underlying patterns, and trends by using analytics on the primary and secondary data obtained.
Competitive Landscape
The global imaging CRO market is largely dominated by companies such as Parexel International Corporation, Worldcare Clinical LLC, ICON plc, IXICO PLC, Micron Group, WuXi Apptec, Medpace, Radiant Sage LLC, Biomedical Systems Corporation, Labcorp Drug Development, Syneos Health, Imaging Endpoints LLC, and Bioclinica, among others.
Through the analysis of the key strategies incorporated by the players of the global imaging CRO market, it was observed that major players were keen to expand their imaging trials services through mergers, partnerships, collaboration, or acquisitions. Several conglomerates are focused on collaborating with small-medium imaging CROs to expand their service offerings to customers in different parts of the world. The overall market of global imaging CRO is expected to witness increasing instances of collaboration between the CROs and the pharmaceutical and biotechnology companies to bolster the better quality of outcomes from the manufacturing process in both research and clinical domains. With a gradual shift toward CROs for conducting imaging trials, the overall revenue of the market is also expected to have strong incremental opportunities in the next ten years.
Imaging CRO Market - A Global and Regional Analysis
Focus on Services, Modalities, Applications, Phases, End User, Country Data (11 Countries), and Competitive Landscape - Analysis and Forecast, 2020-2031
Some Faq's
Frequently Asked Questions
The global market for imaging CRO is predicted to grow at a CAGR of 7.25% during the forecast period 2021-2031.
The key players are Worldcare Clinical, LLC, LabCorp Drug Development (Laboratory Corporation of America Holdings), IXICO PLC, ICON plc, The Micron Group, Medpace Holdings, Inc., Radiant Sage LLC, Biomedical Systems Corporation (ERT), Bioclinica, Imaging Endpoints LLC, Parexel International Corporation, Wuxi AppTec, Syneos Health, Inc.
Some of the opportunities in the global imaging CRO market are increasing outsourcing trend among pharmaceutical companies and automation in imaging CRO process.
Challenges that restrict the growth of global imaging CRO market are high installation cost of medical imaging systems and supply chain and logistical challenges.
The growing number of clinical trials, growing pharmaceutical pipeline, increasing awareness toward process automation, growing demand for high precision in drug manufacturing, and an increasing dependency of pharmaceuticals and biotechnology companies on the CROs for conducting imaging trials are the main factors driving the growth of the global imaging CRO market.
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