(PharmaNewsWire.Com, January 10, 2020 ) The market is projected to reach USD 910.4 Million by 2021; growing at a CAGR of 6.2% during 2016 to 2021.
On the basis of products, the global small animal imaging market is divided into two major categories, namely, modalities and reagents. Small animal imaging systems market is further divided into seven segments, namely, optical imaging systems, nuclear imaging systems, MRI systems, ultrasound systems, CT systems, photo-acoustic imaging systems, and magnetic particle imaging systems.
Small animal imaging systems segment is estimated to command the larger share in the global small animal imaging market in 2016. The larger market share of modalities segment can primarily be attributed to the extensive & growing application of molecular imaging during preclinical researches, high cost of imaging systems, and development & commercialization of technologically advanced preclinical imaging systems.
A number of factors such as 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 propelling the growth of small animal imaging market.
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.
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 market.
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