HOME Research Insight Major Players in the Clinical trial Imaging Market considered Collaborations, Partnerships, and Agreements as the Key Strategy



Major Players in the Clinical trial Imaging Market considered Collaborations, Partnerships, and Agreements as the Key Strategy


The clinical trial imaging market is dominated by established players such as 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.).

Among the top 5 players in the services segment, and clinical trial imaging market, PAREXEL International Corporation (U.S.) held the top position in 2015. The company has strengthened its position in the market through the adoption of organic as well as inorganic strategies such as collaboration, partnership, and agreement, acquisition, expansion, and product launch. For instance, in June 2016, PAREXEL entered into a service agreement with Pfizer Inc. (U.S.), in which PAREXEL will continue to provide global clinical research and development services to Pfizer for conducting clinical trials and accomplishing its drug development goals. In January 2016, PAREXEL collaborated with Optum (U.S.), this collaboration was aimed to offer innovative studies that combine existing data from Optumís electronic health records (EHRs) and PAREXELís medical claims with site-based clinical research. Similarly, in December 2015, PAREXEL International launched the IMPACT Express Clinical Trial Management System (CTMS).

ICON PLC (Ireland) is the second largest player in the global clinical trial imaging market. The company focuses on inorganic growth strategies such as agreements, collaborations, and partnerships to garner higher revenues in the market. For instance, in July 2015, the company entered into a strategic partnership with Mereo BioPharma Group Ltd. (U.K.) to provide clinical development services to the latter. Similarly, in July 2015, the company entered into a strategic partnership with the Cancer Genetics, Inc. (U.S.). As per this partnership, the two organizations work together to provide a full range of comprehensive oncology laboratory testing solutions for oncology-focused clinical trials. The company also adopted the strategy of acquisitions to expand its product portfolio. For instance, in May 2014, the company completed the acquisition of Aptiv Solutions, Inc. (U.S.). This acquisition expanded ICONís eClinical product profile and technology platform.

New product launches are the most preferred strategy adopted by key players in this market. Players adopted this strategy to enhance their product offerings, increase their market share, cater to customersí demands, and consolidate their market presence.

Continuous advancements of clinical trial imaging such multimodality methodologies based on nuclear medicine (NM), PET imaging, MRI, and optical imaging are revenue-generating pockets for the clinical trial imaging market. Developing markets in Asia such as Japan, China, and India are also revenue pockets for market players, due to increasing investments in the healthcare industry by key market players

Related Reports:

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

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