The global preclinical imaging market size is expected to reach USD 5.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.8% from 2022 to 2030. Heavy investments in research and development are encouraging research projects worldwide. As a result, the demand for preclinical imaging is steadily increasing. Pharmaceuticals, biotechnology, life sciences, medical devices, and cosmetics are wide application areas, where imaging modalities are widely used in research and development. Furthermore, veterinary hospitals and educational institutions also create additional demand for this market.
Preclinical Imaging Market Report Highlights
- By product, the optical segment accounted for the largest revenue share in 2021 owing to its wide usage in small animal imaging and new drug discovery projects
- The multimodal imaging segment is expected to witness significant growth during the forecast period, owing to the technological advancements
- North America accounted for the largest revenue share in 2021, well-developed research infrastructure, a large number of Preclinical projects, and higher adoption rates of technically advanced devices in the region are some of the factors that can be attributed to this share
- Asia Pacific is anticipated to grow at a lucrative rate over the forecast period owing to the increased government funding for the development of the research and development sector
- Major players in the industry are focusing on launch of advanced technology and features such as artificial intelligence enabled systems
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Nuclear medicine techniques (primarily, positron emission tomography [PET] and single-photon emission computed tomography [SPECT]), optical imaging, micro computed tomography (CT), micro magnetic resonance imaging (MRI), Photoacoustic tomography (PAT) and ultrasound are the most suitable modalities for small-animal in vivo imaging applications. Each modality has its own set of benefits and drawbacks. The multimodality devices designed to give complementary information on the pathophysiological process under research have rapidly gained popularity, seeking to overcome the inherent limits of each imaging modality.
The combination of high-resolution modalities such as micro-CT and micro-MRI with highly sensitive techniques that provide functional information like micro-PET or micro-SPECT is expected to broaden the horizons of research in key areas like infection, oncology, cardiology, and neurology, contributing not only to the understanding of disease underlying mechanisms but also providing efficient and unique tools for evaluating new chemical entities and candidate drugs, thus boosting the market growth.
COVID-19 pandemic has affected the overall growth of the industry and clinical operations have changed dramatically. Outbreak of Coronavirus has severely impacted the overall supply chain disruptions in import and export activities & halt in production and end use sector operations have affected the Pre-Clinical Imaging market. On the positive side COVID-19 pandemic has redefined the diagnostic imaging that is being practiced and reshape the practice in the “Post-COVID” or “New Normal” era.
The market’s prominent competitors are taking different initiatives such as funding’s and acquisitions of medium and small-sized businesses in order to expand their product portfolio and enhance their manufacturing capacity. For instance, In November 2021, Bruker Corporation acquired MOLECUBES NV, a dynamic innovator in benchtop preclinical nuclear molecular imaging systems. This acquisition is expected to strengthen Bruker’s position as a leading supplier in preclinical and translational imaging research.
Preclinical Imaging Market Insights By Demographics
North America dominated the preclinical imaging market and accounted for the largest revenue share in 2021. The major drivers of the market in North America include a well-developed research infrastructure, the availability of skilled professionals, a large number of preclinical projects, and higher adoption rates of technically advanced devices in the region. Government support in the form of funding and tax benefits is positively impacting the market & anticipated to maintain its dominance throughout the forecast period. Asia Pacific is growing at a lucrative rate in the market. Factors such as low research costs, less-stringent regulatory guidelines, increased government funding for the development of the research and development sector in the respective countries are making the region attractive for Preclinical research studies.
Preclinical Imaging Market Competitive Analysis By Major Players
The market is highly fragmented and competitive. Market players are involved in implementing strategic initiatives, such as product upgrades, regional expansions, portfolio diversification, and mergers and acquisition. In addition, these players are constantly collaborating with Academic centers and Universities and other end use to influence the preclinical studies in the market. Some of the prominent players in the preclinical imaging market include Bruker Corporation, Siemens A.G., General Electric (GE), TriFoil Imaging, PerkinElmer, Inc., VisualSonics Inc. (Fujifilm), Mediso Ltd.
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Preclinical Imaging Market Segmentation
Grand View Research has segmented the global preclinical imaging market based on product, application, end use and region:
- Preclinical Imaging Product Outlook (Revenue, USD Million, 2017 – 2030)
- Preclinical Imaging Market, Application Outlook (Revenue, USD Million, 2017 – 2030)
- Preclinical Imaging Market, End Use Outlook (Revenue, USD Million, 2017 – 2030)
- Preclinical Imaging Regional Outlook (Revenue, USD Million, 2017 – 2030)
- List of Key Players of Preclinical Imaging Market
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S. based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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