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CHICAGO, Aug. 18, 2023 /PRNewswire/ -- In the near future, the Clinical Trial Imaging industry is poised to undergo a transformative evolution, driven by rapid advancements in medical imaging technology, data analytics, and regulatory frameworks. Cutting-edge imaging modalities such as functional MRI, molecular imaging, and advanced PET-CT scans will enable researchers to delve deeper into the intricacies of disease progression and treatment response, providing more nuanced and personalized insights. Integration of artificial intelligence and machine learning algorithms will streamline image analysis, facilitating quicker and more accurate diagnoses, patient stratification, and endpoint determination. Additionally, seamless collaboration between pharmaceutical companies, research institutions, and imaging facilities, coupled with standardized protocols, will enhance data sharing and accelerate clinical trial timelines. However, this expansion will also bring challenges in terms of data security, protocol harmonization, and ensuring the reliability of novel imaging techniques. In essence, the Clinical Trial Imaging industry's imminent future promises to revolutionize the landscape of medical research, enhancing the efficiency and effectiveness of drug development while ultimately benefiting patient outcomes. Clinical Trial Imaging Market in terms of revenue was estimated to be worth $1.3 billion in 2023 and is poised to reach $1.9 billion by 2028, growing at a CAGR of 7.8% from 2023 to 2028 according to a new report by MarketsandMarkets™. Rising expenditures in research and development, the expansion of the pharmaceutical and biotechnology sectors, and the proliferation of Contract Research Organizations (CROs) constitute several additional factors. Emerging economies like China, India, and Japan present attractive prospects for stakeholders engaged in the clinical trial imaging market. Download an Illustrative overview: Browse in-depth TOC on "Clinical Trial Imaging Market" 111 - Tables 38 - Figures 179 - Pages Clinical Trial Imaging Market Scope: The services segment accounted for the largest share of the clinical trial imaging market, by product and service segment, in 2022 Based on product, the clinical trial imaging market is segmented into services and software. In 2022, services accounted for the largest share of the global clinical trial imaging market. The large share of this segment can primarily be attributed to the high cost of imaging equipment, which has driven the outsourcing of imaging clinical trials by pharmaceutical, biotechnology, and medical device manufacturers to service providers. Positron emission tomography segment to register the highest growth rate during the forecast period The clinical trial imaging market is segmented into computed tomography, magnetic resonance imaging, ultrasound, positron emission tomography, X-ray, echocardiography and other modalities. In 2022, the positron emission tomography segment accounted for the highest growth rate. Technological expansions and the introduction of new tracers for cardiology, oncology, and neurology applications are expected to support the adoption of PET systems in clinical trial settings. The oncology segment accounted for the largest share of the clinical trial imaging market, by therapeutic area segment, in 2022 Based on therapeutic area, the clinical trial imaging market has been segmented into oncology, infectious diseases, neurology, CVS, endocrinology, immunological disorder and other therapeutic area. In 2022, the oncology segment accounted for the largest share of the clinical trial imaging market. The dominant portion of this segment's market share can be chiefly attributed to the extensive volume of oncology-related clinical trials, driven by the global increase in cancer incidence. North America is the largest regional market for clinical trial imaging market The global clinical trial imaging market is segmented into five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In 2022, North America accounted for the largest share of the clinical trial imaging market. The large share of this region can be attributed to the growing cutting-edge medical technologies, a mounting count of pharmaceutical and biotechnology enterprises, and substantial governmental investments in clinical research and development. Request Sample Pages: Clinical Trial Imaging Market Dynamics: Drivers: Increasing R&D spending Growth of pharmaceutical and biotechnology industries Increasing number of CROs Restraints: High implementation cost of imaging systems Opportunities: Growth opportunities in emerging economies Development of innovative imaging modalities, contrast agents, molecular probes, and radiopharmaceuticals Challenges: High cost of clinical trials Key Market Players: The major players operating in this market are ICON plc. (Ireland), BioTelemetry Inc. (US), Biomedical Systems Corporation (US), Medpace Holdings, Inc. (US), IXICO plc. (UK), Resonance Health Ltd. (Australia), Radiant Sage LLC. (US), BioClinica Inc. (US), Intrinsic Imaging LLC. (US), Cardiovascular Imaging Technologies LLC. (US), Medical Metrics Inc. (US), Prism Clinical Imaging, Inc. (US), Boston Imaging Core Lab LLC. (US), anagram 4 clinical trials (Spain), Lyscaut Medical Imaging Company (Belgium), Calyx Group (UK), Bioseptive Inc. (Canada), ProScan Imaging LLC. (US), Micron Inc. (Japan), Imaging Endpoints LI, LLC (US), Perspectum Ltd. (UK), Pharmtrace klinische Entwicklung GmbH (Germany), WorldCare Clinical, LLC (US), Median Technologies (France) and Invicro. LLC. (US). Recent Developments: In March 2023, ICON Plc. (Ireland) announced a strategic partnership with LEO Pharma (Denmark) to scale clinical trial execution that is patient-centric and cost effective, and which will support the company's overall ambition of building one of the most effective and efficient clinical portfolio execution organisations in the industry. In March 2023, Clario (US), announced the launch of a cutting-edge cloud-based image viewer tool for sponsors and contract research organizations to view images related to their clinical trials. In May 2021 IXICO Plc. (UK) signed a contract with biopharmaceutical client IXICO to provide neuroimaging services for a Phase III clinical trial under this contract. Get 10% Free Customization on this Report: Clinical Trial Imaging Market Advantages: Enhanced Decision Making: Imaging technologies allow researchers and clinicians to visualize biological processes and disease progression in real-time. This enables more informed decision-making during clinical trials by providing objective and quantifiable data on treatment efficacy and safety. Early Endpoint Identification: Imaging enables the identification of early treatment responses and disease progression markers, enabling the early determination of trial endpoints. This leads to quicker assessment of treatment outcomes and potential for adaptive trial designs. Patient-Centric Approach: Imaging modalities like PET scans, MRIs, and CT scans provide a non-invasive way to monitor patient health, reducing the need for invasive procedures. This patient-centric approach improves participant comfort and compliance in clinical trials. Personalized Medicine: Advanced imaging techniques facilitate the identification of patient subgroups that respond better to specific treatments. This leads to the development of targeted therapies, enhancing treatment effectiveness and minimizing adverse effects. Efficient Drug Development: Imaging accelerates drug development by providing insights into a drug's mechanism of action and its impact on disease pathways. This reduces the time and costs associated with traditional trial endpoints, contributing to faster market entry for new drugs. Objective Quantification: Imaging offers objective measurements of treatment effects, reducing subjectivity in data interpretation. This improves the robustness and credibility of trial results, enhancing the likelihood of regulatory approval. Global Collaboration: Digital imaging technology allows real-time sharing of data across geographical boundaries, facilitating collaboration among researchers, clinicians, and regulatory agencies. This leads to standardized protocols and increased harmonization across clinical trials. Regulatory Compliance: Well-established imaging techniques adhere to rigorous regulatory standards, ensuring the safety and ethical considerations of participants. This instills confidence in trial outcomes and supports regulatory approval processes. Longitudinal Monitoring: Imaging enables researchers to track disease progression and treatment response over time, providing insights into the long-term effects of interventions. This information is crucial for understanding chronic diseases and evaluating treatment durability. Translational Research: Clinical trial imaging bridges the gap between preclinical research and human studies, allowing researchers to validate findings in real-world patient populations. This aids in the translation of promising preclinical discoveries into effective clinical interventions. In summary, the advantages of the Clinical Trial Imaging market lie in its ability to provide objective, precise, and timely data, enhancing the efficiency and success rate of drug development while ultimately benefiting patient care and medical advancements. Related Reports: CRO Services Market - Global Forecasts to 2028 Mice Model Market - Global Forecasts to 2028 Clinical Trial Supplies Market - Global Forecasts to 2028 Contrast Media Market - Global Forecasts to 2027 Diagnostic Imaging Market - Global Forecasts to 2026 About MarketsandMarkets™: MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. 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CARMEL, Ind., Aug. 17, 2023 (GLOBE NEWSWIRE) -- NeurAxis, Inc. (NYSE American: NRXS) (“NeurAxis” or the “Company”), a medical technology company commercializing neuromodulation therapies that address chronic and debilitating conditions in children and adults, today announced it has generated over $8 million in revenue following the commercial launch of its proprietary IB-Stim™ technology. Sales began after NeurAxis received FDA clearance for IB-Stim™ in the pediatric treatment of functional abdominal pain and irritable bowel syndrome. NeurAxis is conducting clinical trials with IB-Stim™ for four additional pediatric indications, including chronic nausea, post-concussion syndrome, chemotherapy induced nausea and vomiting, and cyclic vomiting syndrome. Approximately $2 million of the over $8 million in IB-Stim™ revenue through March 31, 2023 was generated in 2020 and 2019. Brian Carrico, Chief Executive Officer of NeurAxis, said, “We are pleased to have reached over $8 million in sales of our proprietary IB-Stim™ technology and look forward building upon our momentum with the funds received from our recently completed IPO. We continue to drive increasing adoption of our IB-Stim™ therapy, supported by a significant and growing body of positive clinical data and commercial large health insurance company payor support. We believe the growing movement of patients gravitating towards non drug related therapies, especially for children, will continue to fuel our rapidly increasing adoption and the market for our new indications.” Forward Looking StatementsThis document contains certain “forward-looking statements”. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies, goals and objectives of management for future operations; any statements concerning proposed new products and services or developments thereof; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing. Forward looking statements may include the words “may,” “could,” “estimate,” “intend,” “continue,” “believe,” “expect” or “anticipate” or other similar words, or the negative thereof. These forward-looking statements present our estimates and assumptions only as of the date of this document. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures and risk factors we include in our filings with the Securities and Exchange Commission. About NeurAxis, Inc.NeurAxis, Inc., is a medical technology company focused on neuromodulation therapies to address chronic and debilitating conditions in children and adults. NeurAxis is dedicated to advancing science and leveraging evidence-based medicine to drive adoption of its IB-Stim™ therapy, which is its proprietary Percutaneous Electrical Nerve Field Stimulation (PENFS) technology, by the medical, scientific, and patient communities. IB-Stim™ is FDA cleared for functional abdominal pain associated with irritable bowel syndrome (IBS) in adolescents 11-18 years old. Additional clinical trials of PENFS in multiple pediatric and adult conditions with large unmet healthcare needs are underway. For more information, please visit http://neuraxis.com. The estimated revenues generated in 2019 and 2020 reflect our estimated financial results which were not audited nor reviewed by an independent registered public accounting firm. Contacts: CompanyNeurAxis, Inc.info @neuraxis.com Investor RelationsGilmartin GroupIR@neuraxis.com

DUBLIN, Jan. 10, 2023 /PRNewswire/ -- The "Progressive Lenses Market - Global Outlook & Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering. The global progressive lenses market is expected to grow at a CAGR of 4.37% during 2021-2027. The market plays an important role in restoring multiple vision dysfunctions, including refractive errors such as myopia, hyperopia, astigmatism, and presbyopia. The clinical aspect of vision care involves the prevention of eye diseases as well as temporary and complete vision correction. The demand for eye care products in the global progressive lenses market is continually increasing with the growing prevalence of visual dysfunctions in developed and developing countries. Progressive lenses are multifocal lenses specifically for people needing corrective lenses to see distant and close objects. These lenses allow you to see clearly at multiple distances without a bifocal line. The need for a progressive lens increases with age. By age 35 or 40, many people have difficulty focusing their eyes on nearby or distant objects. This condition is known as refractive error, and to compensate for this focusing problem, some people wear single-vision eyeglasses for distance and reading glasses for close. Eyeglasses come in a variety of types. This includes a single-vision lens with one power or strength over the entire lens or a bifocal or trifocal lens with multiple strengths over the entire lens. But multifocal lenses are designed with different prescription areas. As people age, the ability to see near and far objects may decline. The progressive lenses market meets different visual needs in one lens. Usually, the top of the lens incorporates the 'distance' field of view and the bottom the 'near' field of view. Rather than separating the lines that separate these areas, progressive lenses are blended so that the central portion of the lens acts as intermediate vision correction when needed. In contrast to traditional bifocal or trifocal lenses, no visible lines separate the different fields in progressive lenses. Compared to bifocal lenses, progressive lenses can protect the neck and posture. The acceptance in the progressive lenses market was mainly concentrated in developed countries such as the U.S., Japan, the UK, Germany, and France. However, developing Asian countries such as India and China are witnessing increased demand for progressive lenses owing to the growing target population with refractive error and visual impairment eye disorders and aggressive retail optical stores marketing campaigns. MARKET TRENDS & OPPORTUNITIES Growing prevalence of computer vision syndrome (CVS) According to the Vision Council, at least 60% of American men and 65% of American women report CVS symptoms, 80% of adults use digital devices for more than two hours a day, and more than 65% of adults use at least two devices at the same time. About 80% of adults use a digital device before bedtime, and at least 70% of adults report that their child spends at least two hours of screen time. Simultaneous use of 2 or more devices increased the risk of CVS compared to the use of 1 device at a time; the reported prevalence was 75 % and 53 %, respectively. Over the last few years, there has been a significant increase in the average number of hours spent accessing and consuming digital content, resulting in the rise of eye disorders are driving the global progressive lenses market growth. The Emergence Of Digital Progressive Lenses And Technological Advancements Digital lenses are ideal for many progressive spectacle wearers, especially with the latest algorithms used to surface these lenses. These advanced progressive designs have many advantages over standard progressive lenses as the Progressive lenses are slightly improved with each advancement released. Manufacturers have developed different concepts for new progressive lens technology in the progressive lens market. While some manufacturers require technical equipment to collect biometric data on the corneal shape to optimize the cornea further, others offer a broader range of products rather than highly specialized ones. Rise of E-commerce as a Preferred Distribution Channel The rise in e-commerce as a distribution channel has contributed to the growing global demand for vision care products in the progressive lenses market. The internet plays a broader role as a supplier of consumer information & providing a platform for price referencing. For vision care products like progressive lenses, channel consolidation is rising and vertically combined. The vendors are developing an automated ordering system to allow users to order progressive lenses online, which will positively affect everyone involved in the practice. Revolution of 3D Printed Progressive Lenses 3D printing is currently changing the way eyewear is designed and manufactured. Many eyewear manufacturers and even individuals have started adopting this layer-by-layer technology primarily to differentiate their products from their competitors and bring further innovation to eyewear design in the global progressive lenses market. But 3D printing technology also opens new possibilities for eyewear companies. 3D-printed lenses can have multiple zones with different optical properties. As a result of using Additive Manufacturing, all that has to be done is to design a 3D model much faster than traditional lens-making techniques. Growing Prevalence of Refractive Errors and the Increasing Geriatric Population Globally, around 285 million people have impaired vision, and more than 80% of the impaired vision cases are preventable with early diagnosis and treatment. As the world population ages, the need for quality vision care is expanding and evolving, with the availability of a diverse range of progressive lenses for several vision impairments boosting the progressive lenses market. The geriatric population is growing rapidly in several regions worldwide. The rapidly increasing elderly population is linked to the increase in chronic diseases, including eye disorders. COMPETITIVE LANDSCAPE The global progressive lenses market is an oligopoly market with international, regional, and local players offering various products. The leading players in the progressive lenses market are ZEISS, EssilorLuxottica, HOYA, and Shamir. The competition is intense among tier I/II vendors as many local players are available in the market in every country and pose a significant threat to regional and global players. In recent years, the global eyeglasses market has witnessed many strategic initiatives by key and prominent vendors, intensifying market competitiveness. The strategic merger of major Essilor and Luxottica Group resulted in the formation of EssilorLuxottica, thereby increasing the merged entity's market share significantly over that of its competitors. Vendors compete based on product variety, pricing, quality, technological leadership and innovation, and the efficacy of progressive lenses. Key Vendors ZEISS EssilorLuxottica HOYA Shamir Other Prominent Vendors BBGR Fielmann Indo Optical SLU JIANGSU HONGCHEN OPTICAL Leica Eyecare Nikon Optical Optimum RX Group Optiswiss optoVision Prime Lenses Rodenstock RUPP & HUBRACH GLASSES Seiko Optical Products Shanghai Conant Optics Signet Armorlite Tokai Optical Vision Ease Yash Optics And Lens Younger Optics KEY QUESTIONS ANSWERED 1. What is the size of the global progressive lenses market? 2. What is the growth rate of the global progressive lenses market? 3. What factors impact the growth of the progressive lenses market? 4. Who are the key players in the global progressive lenses market? 5. Which region has the highest progressive lenses market share globally? Key Topics Covered: 1 Research Methodology 2 Research Objectives 3 Research Process 4 Scope & Coverage 4.1 Market Definition 4.1.1 Inclusions 4.1.2 Exclusions 4.1.3 Market Estimation Caveats 4.2 Base Year 4.3 Scope of the Study 4.3.1 Market by Material Segmentation 4.3.2 Market by Application Segmentation 4.3.3 Market by Age Group Segmentation 4.3.4 Market by Distribution Channel Segmentation 4.3.5 Market Segmentation by Geography 5 Report Assumptions & Caveats 5.1 Key Caveats 5.2 Currency Conversion 5.3 Market Derivation 6 Market at a Glance 7 Premium Insights 8 Introduction 8.1 Overview 9 Market Opportunities & Trends 9.1 Evolution of 3D-Printed Progressive Lenses 9.2 Advances in Progressive Lens Technologies 9.3 Focus on Omnichannel Distribution Approach 10 Market Growth Enablers 10.1 High Prevalence of Refractive Errors 10.2 Rise in Exposure to Digital Content & Cvs 10.3 Public and Private Initiatives to Increase Vision Care Awareness 11 Market Restraints 11.1 Limitations of Progressive Lenses 11.2 Rise in Lasik Procedures for Vision Correction 11.3 Emergence of Smart Contact Lenses 12 Market Landscape 12.1 Market Overview 12.2 Market Size & Forecast 12.2.1 Geography Insights 12.2.2 Material Segmentation Insights 12.2.3 Applications Segmentation Insights 12.2.4 Age Group Segmentation Insights 12.2.5 Distribution Channel Segmentation Insights 12.3 Five Forces Analysis 13 Material 14 Application 15 Age Group 16 Distribution Channel 17 Geography 18 Europe 19 APAC 20 North America 21 Latin America 22 Middle East & Africa 23 Competitive Landscape 23.1 Competition Overview 23.2 Market Share Analysis 23.2.1 Zeiss 23.2.2 Essilorluxottica 23.2.3 Hoya 23.2.4 Shamir 24 Key Company Profiles 24.1 Zeiss 24.1.1 Business Overview 24.1.2 Product Offerings 24.1.3 Key Strategies 24.1.4 Key Strengths 24.1.5 Key Opportunities 24.2 Essilorluxottica 24.2.1 Business Overview 24.2.2 Product Offerings 24.2.3 Key Strategies 24.2.4 Key Strengths 24.2.5 Key Opportunities 24.3 Hoya 24.3.1 Business Overview 24.3.2 Product Offerings 24.3.3 Key Strategies 24.3.4 Key Strengths 24.3.5 Key Opportunities 24.4 Shamir 24.4.1 Business Overview 24.4.2 Product Offerings 24.4.3 Key Strategies 24.4.4 Key Strengths 24.4.5 Key Opportunities 25 Other Prominent Vendors 25.1 Bbgr 25.1.1 Business Overview 25.1.2 Product Offerings 25.2 Fielmann 25.2.1 Business Overview 25.2.2 Product Offerings 25.3 Indo Optical Slu 25.3.1 Business Overview 25.3.2 Product Offerings 25.4 Jiangsu Hongchen Optical 25.4.1 Business Overview 25.4.2 Product Offerings 25.5 Leica Eyecare 25.5.1 Business Overview 25.5.2 Product Offerings 25.6 Nikon Optical 25.6.1 Business Overview 25.6.2 Product Offerings 25.7 Optimum Rx Group 25.7.1 Business Overview 25.7.2 Product Offerings 25.8 Optiswiss 25.8.1 Business Overview 25.8.2 Product Offerings 25.9 Optovision 25.9.1 Business Overview 25.9.2 Product Offerings 25.10 Prime Lenses 25.10.1 Business Overview 25.10.2 Product Offerings 25.11 Rodenstock 25.11.1 Business Overview 25.11.2 Product Offerings 25.12 Rupp & Hubrach Glasses 25.12.1 Business Overview 25.12.2 Product Offerings 25.13 Seiko Optical Products 25.13.1 Product Offerings 25.14 Shanghai Conant Optics 25.14.1 Business Overview 25.14.2 Product Offerings 25.15 Signet Armorlite 25.15.1 Business Overview 25.15.2 Product Offerings 25.16 Tokai Optical 25.16.1 Business Overview 25.16.2 Product Offerings 25.17 Vision Ease 25.17.1 Business Overview 25.17.2 Product Offerings 25.18 Yash Optics and Lens 25.18.1 Business Overview 25.18.2 Product Offerings 25.19 Younger Optics 25.19.1 Business Overview 25.19.2 Product Offerings 26 Report Summary 27 Quantitative Summary 28 Appendix For more information about this report visit Media Contact: Research and Markets Laura Wood, Senior Manager [email protected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 Logo: SOURCE Research and Markets