(PharmaNewsWire.Com, March 26, 2021 ) Different Strategies Adopted by Key Players:
The key players in the small animal imaging market focus on various strategies such as new product launches; geographic expansions; partnerships, agreements, and collaborations; and acquisitions in order to increase their market shares in the global small animal imaging market. Product development and commercialization was the key strategy adopted by leading industry players to achieve optimal revenue growth in the small animal imaging market.
PerkinElmer, Inc. (U.S.), Bruker Corporation (U.S.), Mediso Ltd. (Hungary), MILabs B.V. (Netherlands), MR Solutions Ltd. (U.K.), and Aspect Imaging Ltd. (Israel) were major players that adopted this strategy for their market growth during 2013-2016. Additionally, geographic expansion was the second most favored growth strategy among prominent product manufacturers; that helped OEMs to strengthen their market presence, enhance their R&D capabilities, and generate additional demand by sensitizing end users about benefits offered by molecular imaging during in-vivo preclinical imaging studies.
As of 2015, PerkinElmer, Inc. held the leading position in the small animal imaging market owing to its robust product portfolio and its strong geographic presence across major markets (such as the U.S., Europe, China, Japan, Australia, and India). The company primarily focuses on developing technologically advanced preclinical imaging systems as its key growth strategy to sustain its leadership position in the global small animal imaging market.
In line with this strategy, during 2013-2016, the company launched numerous small animal imaging products including Solaris quantitative optical molecular imaging system (in September 2014); IVIS Lumina XRMS Series III and IVIS SpectrumBL (in January 2014); and IVIS Lumina Series III (in January 2013), among others. Furthermore, the company adopted geographic expansion as another key growth strategy in order to strengthen its R&D and sales capabilities. In line with this, PerkinElmer established its new R&D centers in China (May 2014), the U.S. (October 2013), and Germany (April 2013). Additionally, the company opened its new offices in Italy (July 2014), and Israel (April 2013).
Bruker Corporation (U.S.) held the second position in the small animal imaging market in 2015. This is mainly attributed to the wide geographical presence and strong product portfolio of the company in the global small animal imaging market. The Bruker Corporation offers a complete line of preclinical imaging modalities including multi-modality products for the preclinical imaging of small animals. The company has primarily adopted product launches and enhancements as its key growth strategy to strengthen its position in the global small animal imaging market.
In line with this strategy, the company launched the SkyScan 1275 X-ray microtomography system (in October 2015); Albira Si PET/SPECT/CT Trimodality System, BioSpec 3T Preclinical MRI System, BioSpec 3T PET/MRI System, and High-sensitivity Xtreme II Optical Molecular Imaging System (in September 2015); SkyScan 1278 and BioSpec 210/11 (in September 2014); Magnetic Particle Imaging (MPI) system (in September 2013); and SkyScan 1272 preclinical CT imaging system (in March 2013).
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.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
