Preclinical Imaging Market Analysis, Growth Forecast Analysis by Manufacturers, Regions, Type and Application to 2024
6 February 2020 - The global Preclinical Imaging Market size was
worth USD 1.8 billion in 2015, which is anticipated to grow at a CAGR of more
than 8.1% during the forecast period. Constant technological advancements and
increasing expenditure on research and development are some of the leading
factors for such huge market size with more and more pharmaceutical companies
targeting this market. Similarly, rise in the number of contract research
manufacturing and increasing presence of medical device companies that comply
well with the pre-clinical studies in in-vivo experiments would further drive
the market growth.
Use of various computerized
database systems with advanced technology has increased over the years due to
implementation of stringent laws and policies on animal testing which prevents
exploitation of animals. Pre-clinical imaging has led to extraction of
extremely detailed images of organs, cells, tissues and their anatomical
features before and after the drug intake. Such methods of imaging along with
micro-dosing, in-vitro tests have become an alternative for conventional
methods.
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Preclinical imaging systems
include MRI, CT scan that is categorized under non-invasive techniques and
possesses great potential to grow in the coming years. Some of the major
factors that may challenge the acceleration of the market is increased cost,
lack of skilled staff, underdeveloped infrastructure and non-availability such
technically advanced devices in the third world countries.
Government bodies of
developing countries such as Japan, Mexico, and Brazil, are making huge
investments to spread awareness about the use of pre-clinical devices for
research studies, and thereby focusing on quality and safety. Regions such as
Latin America, Middle East and Asia Pacific are witnessing increase in foreign
investments, which is leading to greater revenue generation, for the market
growth.
Segment Insights
The optical imaging segment
captured the largest market share in 2015 due to increased use of small animals
in a number of animal research projects.
The fastest growth rate in the
market was exhibited by multi-modal systems segment during the forecast period
due to enhancement in integrated systems, which enable multiple screening in
single device. It helps to achieve a detailed digital imaging of anatomical
features for the organs of animals. A significant share of the market is being
shared by the reagent segment, which showed higher frequency of purchases as
compared to other segments.
Introduction of various
features in imaging devices have resulted in increased number of applications.
The development of various cancer therapies has benefitted from such up
gradations in the technology, which makes it useful for numerous purposes.
Other sectors, which have gained from the use pre-clinical imaging, includes
obstetrics, gynaecology and cardiology.
Regional Insights
North America dominated the
pre-clinical imaging industry capturing the largest revenue share in 2015, due
to the fact that the region has maximum number of skilled workmen, developed
infrastructure, higher acceptance and adoption of advanced technical devices
and presence of large number of research projects which are being carried out.
In some regions including
Canada, there have been various government initiatives and policies, which have
helped in enhancement of research and development work in the form of funding
and exemption from tax. All these factors can be attributed to conclude that
North America will be a dominating region in this market, in terms of revenue.
Factors such as increased
government funding, liberal government laws, growing adoption of contract
research organisations, affordable research cost is contributing towards the
highest CAGR of Asia Pacific region. .India and China are the key leaders in
the Asia Pacific region, making it one of the most booming regions for the
preclinical imaging market.
Competitive Insights
The global pre-clinical
imaging market consists of international as well as local players. The capital
required for the companies to enter in this market is comparatively lesser. The
major players in this market are Siemens A.G., TriFoil Imaging, PerkinElmer,
Inc., Mediso Ltd., General Electric(GE), Bruker Corporation, VisualSonics Inc.
(Fujifilm), Mediso Ltd., MILabs B.V., and Agilent Technologies.
A huge pool of companies is
focused towards advancing in the pre-clinical imaging market after thorough
research and development in this sector. The most common strategy opted by
companies are through mergers acquisitions and collaboration in order to gain
maximum share in the market.
Market Segment:
Preclinical imaging product outlook, 2014 & 2024 (USD Billion)
• Medical Devices
• CT Imaging
• MRI Imaging
• PET/SPECT Imaging
• Multimodal Imaging
• Optical Imaging
• Ultrasound Imaging
• Photoacoustic (PAT) Imaging
• Reagents
• Services
Preclinical imaging regional outlook, 2014 & 2024 (USD Billion)
• North America
• U.S. Preclinical Imaging
Market by Product Type
• Canada Preclinical Imaging
Market by Product Type
• Europe
• Germany Preclinical Imaging
Market by Product Type
• France Preclinical Imaging
Market by Product Type
• Asia Pacific
• China Preclinical Imaging
Market by Product Type
• India Preclinical Imaging
Market by Product Type
• Latin America
• Brazil Preclinical Imaging
Market by Product Type
• Mexico Preclinical Imaging
Market by Product Type
• MEA
• South Africa Preclinical
Imaging Market by Product Type
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