(PharmaNewsWire.Com, April 13, 2020 ) Market Overview The global smallanimalimaging market size was worth $ XX billion in 2018 and is forecasted to reach $ XX billion by 2026, at a CAGR of XX% during the forecast period.
Small animal imaging is a technique used for imaging biological processes in small animals such as rats and mice for drug development and gene expression studies. The devices used in the small animal imaging are similar to the devices used for the diagnostic purposes in human, however, due to the smaller size they are known as micro devices.
Market Dynamics The global market for the small animal imaging market is primarily driven by growing demand for small animal imaging techniques, technological advancement in the field of small animal imaging, and rising investment in the development of new diagnostic and therapeutic devices. According to National Health Services (NHS) UK, the diagnostic imaging data showed that around 39.8 million imaging test were registered during 2015 in England. In addition, with increasing research activities focused on gene expression and its link with a number of diseases in small animals, the small animal imaging market is growing globally.
However, the growth of the small animal imaging market is restrained by the regulations imposed by governments on usage of animals in experiments and requirement of high operational & installation cost. The procedure and technological aspects also face challenges in the small animal imaging market.
Market Segmentation On the basis of devices, the optical imaging devices occupied the largest market in 2018 due to rapid and easy operations and relatively cost-effective in comparison to other devices. The Micro-MRI devices segment is the fastest growing segment over the forecast period (2019-2026) due to various applications during anatomical and functional analysis in developing mouse embryos and neonates.
Micro-ultrasound segment is also growing due to its wider range of applications especially in research related to the small animal models. It is the miniature version of ultrasound that increases the efficiency of the imaging techniques. In addition, they reduce the number of animals required for a particular study. The high-frequency micro-ultrasound steadily evolved in the post-genomic era as a rapid, comparatively inexpensive imaging tool for studying normal development and models of human disease in small animals. Hence, the micro-ultra sound imaging system is growing for small animals.
Geographical Share The North America is dominating the global small animal imaging market with highest market size in 2018 and estimated to hold the largest market share over the forecast period (2019-2026), due to growing demand for technologically advanced methods, vast pre-clinical research, established healthcare infrastructure, and favorable platform for R&D to technological advancements. For instance, in 2015, the National Institute of Health (NIH) received 1 Billion US$ for life science and health-related research and development programs. In addition, the presence of major players such as Bruker Corporation, PerkinElmer Inc., Trifoil Imaging, and LI-COR Biosciences in this region is contributing to the growth of the North America small animal imaging market.
The Europe small animal imaging market is also growing with a significant CAGR over the forecast period (2019-2026) and expected to hold highest market size in the global small animal imaging market due to increasing R&D investments by pharmaceutical companies and growing number of research organizations for diagnosis of diseases. For instance, the European Commission stated that the R&D spending by pharmaceuticals and biotechnology sector grew by 8.7% in 2014.
Market Competition Some of the major players in the Small Animal Imaging market include Thermo Fisher Scientific, Life Technologies Corporation, PerkinElmer, Inc, Siemens AG, Bruker Corporation, Aspect Imaging Ltd., Promega Corporation, Trifoil Imaging, Miltenyi Biotec GmbH, MR solutions Ltd, among others. The key players are adopting strategies such as mergers and acquisitions, partnerships, and regional expansion to stand out as strong competitors in the market. New product launches along with increased focus on R&D are other ways the leading players improve their market presence. For instance, in 2018, MediLumine launched the PRISM In Vivo Imaging System. The system has the world's most sensitive EMCCD camera, a camera used by NASA for astrophysics and now available for in vivo imaging. The system's ability to detect bioluminescent or fluorescent NIR signals deep in the organism is unsurpassed.
Why Purchase the Report? Visualize the composition of the global small animal imaging market across each indication, in terms micro-magnetic resonance imaging, optical imaging, nuclear imaging and other devices, highlighting the key players. Identify commercial opportunities in global small animal imaging market by analyzing trends and co-development deals. Excel data sheet with thousands of data points of the global small animal imaging market - level 4/5 segmentation. PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. Product mapping in excel for the key products of all major market players.
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