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Description
Clinical Trial Imaging Market size was valued at 944.40 Billion in 2021 and is estimated to reach 1536.45 Billion by 2028, at a CAGR of 7.2% during the forecast period 2022 to 2028. Some of thе key factors fueling the market growth include growth in the pharmaceutical and biotechnology industries, huge spending on R&D, rise in number of contract research organizations and advancements in the technology. Also, enhanced investment in medical imaging companies and adoption of innovative imaging technologies to support clinical trials are other factors responsible for the market growth. However, high implementation cost of imaging systems and high capital required to run clinical trials are hindering the market growth. The market is predicted to rise due to the growing biotechnology and pharmaceutical sectors, as well as rising research and development investments for generating new pharmaceuticals to treat ailments. In the clinical development of new life science products, medical imaging plays an important role. Despite the fact that the medical imaging sector is always changing, the biotechnology and pharmaceutical industries continue to grow. This is due to increased investment in medical imaging companies, mergers and acquisitions, and the use of cutting-edge imaging technology to assist medical device clinical trials. However, the high cost of machinery and installation, as well as the high cost of clinical trials, may hinder market expansion throughout the projection period.
