Clinical Trial Imaging Services Procurement Intelligence

The clinical trial imaging services category is anticipated to grow at a CAGR of 8.05% from 2023 to 2030. 

North America holds the largest category share at about 41%. The rising number of Contract Research Organizations (CROs) along with biotechnology and pharmaceutical companies, the increasing presence of chronic health diseases among the population, the development of innovative imaging techniques, and rising R&D investment to develop new drugs and therapies are some of the key factors driving the growth.

Order your copy of the Clinical Trial Imaging Services category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis 

Clinical Trial Imaging Services Procurement Intelligence Report Scope

The Clinical Trial Imaging Services category is expected to have pricing growth outlook of 20 - 30% (Annually) from 2023 to 2030, with below pricing models. 

• Variable pricing model
• Fixed-fee pricing model

Supplier Selection Scope of Report

• Cost and pricing
• Past engagements
• Productivity
• Geographical presence

Supplier selection criteria of Report

• Products And Services
• Applications
• Modalities
• Operational Capabilities
• Regulatory Standards And Mandates
• Category Innovations
• Others

Clinical Trial Imaging Services Procurement Intelligence Report Coverage

Grand View Research will cover the following aspects in the report:

• Market Intelligence along with emerging technology and regulatory landscape
• Market estimates and forecasts from 2022 to 2030
• Growth opportunities, trends, and driver analysis
• Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
• Porter’s 5 forces
• Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
• Engagement and operating models, KPI, and SLA elements
• LCC/BCC analysis and negotiation strategies
• Peer benchmarking and product analysis
• Market report in PDF, Excel, and PPT and online dashboard versions 

Clinical Trial Imaging Services Procurement Cost and Supplier Intelligence

The majority of CROs use "variable pricing models," sometimes known as full-time equivalent (FTE). This implies that the CRO charges its sponsor a set fee for each full-time hour worked on the project. The notion is comparable to the term "billable hours" which is used in a variety of sectors. However, this model has its own disadvantages as the price of the services changes even during the study whenever the companies revise per-hour charges owing to the prevalent macroeconomic factors. This will lead to uncertainty about the overall budget required at the start of the study. This has pushed the CROs to adopt "fixed-fee pricing" as an alternative payment mechanism. The primary benefit of fixed-fee pricing is the clarity of the study's budget. Clinical trial sponsors know how much their initiatives will cost in advance, eliminating the chance of unexpected costs. This gives them more influence over the project's finances.

China and India are some of the preferred sourcing destinations for this category. India is a popular destination for imaging services due to its established medical sector. Suppliers offer competitive pricing, and skilled labor, and can accommodate various project sizes. China is renowned for its precision manufacturing, offering high-quality products and advanced technology. Its suppliers are known for their precision, reliability, and strict quality control processes.

List of Key Suppliers

• Resonance Health
• Navitas Life Sciences
• IXICO plc
• ProScan Imaging
• Radiant Sage LLC
• Medpace
• Biomedical Systems Corp
• Cardiovascular Imaging Technologies
• Intrinsic Imaging
• BioTelemetry

Add-on Services provided by Grand View Research Pipeline:

Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process

Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier

Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.

A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.

Browse through Grand View Research’s collection of procurement intelligence studies:

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Brief about Pipeline by Grand View Research:

A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.

Our services include (not limited to):

• Market Intelligence involving – market size and forecast, growth factors, and driving trends
• Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
• Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
• Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions