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(Health-NewsWire.Net, August 05, 2020 ) Target Audience
# Preclinical Imaging System Manufacturers, Suppliers, and Imaging Software Providers
# Pharmaceutical and Biotechnology Companies
# Preclinical Imaging Reagent Manufacturers and Suppliers
# Contract Research Organizations (CROs)
# Research and Development (R&D) Companies
# Government Research Laboratories
# Independent Research Laboratories
# Government and Independent Regulatory Authorities
# Market Research and Consulting Service Providers
# Medical Research Laboratories
# Academic Medical Institutes and Universities
The global Small Animal Imaging Technology Market is estimated to reach USD 910.4 Million by 2021; growing at a CAGR of 6.2% during the forecast period.
The technological advancements in the field of molecular imaging, increasing market demand for non-invasive small animal imaging techniques, and growing number of public-private initiatives to support preclinical researches are some key factors fueling the growth of the market.
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Furthermore, emerging markets such as China and India are offering new growth opportunities for prominent market players. However, factors such as strict regulatory framework that governs preclinical researches, and significant installation and operational costs associated with preclinical imaging modalities are hampering the market growth.
As of 2016, North America is expected to dominate global small animal imaging market, followed by Europe. However, the Asia-Pacific region is projected to be the fastest growing region with a double-digit CAGR during 2016-2021. A number of factors including continuous government support for pharmaceutical and biotechnology R&D, increasing public-private investments to support radioisotope production, rising number of translational research activities, and evolving regulatory scenario across major Asian countries are stimulating the growth of the small animal imaging market in the Asia-Pacific region.
On the basis of products, the global Small Animal Imaging Technology Market is segmented into two major categories, namely, modality (optical imaging systems, nuclear imaging systems, MRI systems, Ultrasound systems, CT systems, photoacoustic imaging systems, and magnetic particle imaging systems) and reagents (optical imaging reagents, nuclear imaging reagents, MRI contrast agents, ultrasound contrast agents, and CT contrast agents). The modalities segment is expected to grow at the higher CAGR in the next five years, owing to the extensive application of small animal imaging during preclinical research, high cost of preclinical imaging systems, and development & commercialization of technologically advanced preclinical imaging technologies.
As of 2015, PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), FUJIFILM Holdings Corporation (Japan), Mediso Ltd. (Hungary), MILabs B.V. (Netherlands), MR Solutions Ltd. (U.K.), Aspect Imaging (Israel), LI-COR Biosciences (U.S.), Trifoil Imaging (U.S.) and Miltenyi Biotec GmbH (Germany) are key players operating in the global Small Animal Imaging Technology Market.
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New product launches and product enhancements are the key growth strategies adopted by major players to develop their positions in the global small animal imaging market. Moreover, strategies such as geographic expansions; and partnerships, agreements, and collaborations; acquisitions were also adopted by a significant number of market players to strengthen their product portfolios and expand their geographic presence in the global market.
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