U.S Imaging CRO Market Size, Share, By Services Offered (Image Collection & Quality Control, Imaging Acquisition & Protocol Development, Digital Image Conversion, Application Design, Support & Maintenance, and Others), By Imaging Modality (Magnetic Resonance Imaging, Computed Tomography Scan, Positron Emission Tomography, and Others), By Application (Oncology, Cardiovascular, Neurology, Ophthalmology, and Others), By End-Users (Pharmaceutical & Biotechnology Companies, Academic & Research Institutions, Medical Device Manufacturers, and Others) - Trends, Analysis and Forecast till 2034

Report Code: PMI529724 | Publish Date: June 2024 | No. of Pages: 156

Us Imaging Cro Market Overview

U.S Imaging CRO Market Size was valued at USD 2.15 Billion in 2024 and is projected to grow at a CAGR of 7.00% to reach USD 4.27 Billion by 2034.

The U.S. Imaging Contract Research Organization (CRO) market comprises specialized service providers that assist pharmaceutical, biotechnology, and medical device companies in conducting imaging-related research activities. These services are crucial during the preclinical and clinical phases, offering advanced imaging analysis and data management to enhance the understanding of drug mechanisms and therapeutic efficacy. The market is experiencing significant growth due to the increasing complexity of clinical trials and the high demand for sophisticated imaging technologies to improve diagnostic and therapeutic outcomes.

Us Imaging Cro Market Drivers & Restraints

Key Drivers of Target Market:

Advanced Imaging Technologies

The U.S. is a leader in developing and adopting cutting-edge imaging technologies. Innovations in high-resolution MRI, CT scans, and PET scans have significantly improved the ability to visualize and assess drug efficacy and disease progression. These technologies provide detailed and accurate data essential for the successful development of new therapeutics. The intense focus on research and substantial investments in healthcare technology drive these advancements.

Increasing Outsourcing of Imaging Services

Pharmaceutical and biotechnology companies in the U.S. are increasingly outsourcing their imaging needs to CROs. This trend is driven by the high costs and specialized expertise required for conducting advanced imaging studies. Outsourcing allows companies to leverage the latest imaging technologies and highly skilled professionals without significant capital investment to maintain these capabilities in-house. This approach helps streamline R&D activities and enables companies to focus on their core competencies while benefiting from the expertise and technology provided by CROs.

Restrains:

Complex Regulatory Landscape

The imaging CRO market in the U.S. faces significant challenges due to stringent regulatory requirements imposed by agencies such as the FDA. These regulations ensure the safety and accuracy of imaging procedures used in clinical trials. Compliance can be costly and time-consuming, posing a considerable challenge for CROs. Non-compliance can result in severe penalties, further complicating the operational landscape for these organizations. The stringent regulatory environment can slow the development and approval processes for new drugs and medical devices, creating substantial hurdles for the imaging CRO market.

Us Imaging Cro Market Segmentations & Regional Insights

The market is segmented based on Services Offered, Imaging Modality, Application, and End-Users.

U.S Imaging CRO Market Report Scope:

Attribute

Details

Market Size 2024

USD 2.15 Billion

Projected Market Size 2034

USD 4.27 Billion

CAGR Growth Rate

7.00%

Base year for estimation

2023

Forecast period

2024 – 2034

Market representation

Revenue in USD Billion & CAGR from 2024 to 2034

Market Segmentation

By Services Offered - Image Collection & Quality Control, Imaging Acquisition & Protocol Development, Digital Image Conversion, Application Design, Support & Maintenance, and Others

By Imaging Modality - Magnetic Resonance Imaging, Computed Tomography Scan, Positron Emission Tomography, and Others

By Application - Oncology, Cardiovascular, Neurology, Ophthalmology, and Others

By End User - Pharmaceutical & Biotechnology Companies, Academic & Research Institutions, Medical Device Manufacturers, and Others

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered in the Report:

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2023 to 2034. For the purpose of this study segmented the Imaging CRO Market report based on Services Offered, Imaging Modality, Application, End User and Country:

Segmentation:

By Services Offered:

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

By Imaging Modality:

  • Magnetic Resonance Imaging
  • Computed Tomography Scan
  • Positron Emission Tomography
  • Others

By Application:

  • Oncology
  • Cardiovascular
  • Neurology
  • Ophthalmology
  • Others

By End User:

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

Us Imaging Cro Market Competitive Landscape & Key Players

The key players operating the Imaging CRO Market includes IQVIA, PAREXEL, PRA HEALTH SCIENCES, ICON, Syneos Health, Labcorp Drug Development, PPD, Fisher Clinical Services

Us Imaging Cro Market Company Profile

  • IQVIA, Inc.
  • PAREXEL
  • PRA HEALTH SCIENCES  
  • ICON
  • Syneos Health, Ltd.
  • Labcorp Drug Development  
  • PPD, INC.
  • Fisher Clinical Services    

FAQs

The U.S Imaging CRO Market is segmented into Services Offered, Imaging Modality, Application, and End User

Advanced imaging technologies and growth in outsourcing of imaging services.

The key players operating the Imaging CRO Market includes, IQVIA, PAREXEL, PRA HEALTH SCIENCES, ICON, Syneos Health, Ltd., Labcorp Drug Development, PPD, INC., Fisher Clinical Services.