Small Animal Imaging Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1834
Small Animal Imaging Market size is estimated to witness considerable growth prospects from 2017 to 2024.
Growing demand for non-invasive methods will drive the global small animal imaging market. The technique will provide major advantage to conduct the studies without significantly harming the animals or its physiology. The animal can continue to live normal life without being affected by the study. In contrast to tissue or cell culture based tests, studies in intact animals incorporate the interrelating biological factors present in a complex living organism. Rising investments in clinical research organizations for pre-clinical studies applications like monitoring the effect of drug after being administered, epigenetics, and cancer cell detection will boost the small animal imaging market size during forecast period.
Technological innovations such as combination of high resolution MRI with other modalities and advancement of transgenic and gene knockout technologies will fuel the demand. Small animals like rats and mice are most widely used for cardiovascular imaging studies. Such advance imaging technologies can provide a method to serially evaluate the effect of a specific pharmacologic therapy or genetic mutation.
Growing amount of funding and public-private initiatives to support research due to availability of cost-effective and competent platform for the timely commercialization and authentication of novel drug molecules will drive the business growth. Furthermore, the technique is highly crucial to discover the underlying mechanisms of diabetes, immunological, cardiovascular, and neurodegenerative diseases.
Micro-magnetic resonance imaging (Micro-MRI) technology segment has evolved from testing the limitations of technology to growing use as a tool in noninvasive investigations. Further, smaller versions of diagnostic technologies such as micro single-photon-emission computerized tomography (Micro-SPECT), micro positron-emission tomography(Micro-PET), micro magnetic resonance imaging, optical imaging(OI), and micro ultrasound have significantly enhanced investigators’ capability to longitudinally determine numerous tentative representations of human disease through small animal representations. Contract research organizations (CROs) account for maximum revenue share owing to high application for conducting various studies.
Presence of established infrastructure and companies such as PerkinElmer, Bruker Corporation and TriFoil should bolster the U.S. small animal imaging market size. Additionally, the procedure reduces later complication caused by minimizing human intervention into clinical trials and understand the effect of probable therapeutics thus holding healthcare spending. Increasing R&D and favorable growth opportunities for companies operating will drive the European small animal imaging market. Favorable growth opportunities for companies operating in this market will stimulate industry market share.
Asia Pacific is estimated to rise at comparatively faster rate owing to growing number of research and pharmaceutical organizations for diagnosis of diseases. India and China will lead regional industry in the coming years. Further, compared to other countries in the region India is likely to exhibit the highest CAGR by 2024.
Latin America is predicted to observe significant growth prospects due to the increasing funding by public and private institutions in life science sector. Brazil will dominate the regional revenue share during the forecast period. Improved government focus on developing public healthcare system is likely to drive regional small animal imaging market size.
Middle East and Africa small animal imaging market share may exhibit a moderate growth over the forecast period. South Africa and Saudi Arabia are account for rewarding growth opportunities. Presence of several globally recognizable brands and increasing competition from local development and manufacturing in South Africa will drive the industry share.
Companies operating in small animal imaging market include Thermo Fisher Scientific, Perkinelmer, Bruker, Fujifilm Holdings, Trifoil, Miltenyi Biotec, Mediso, Aspect Imaging, Li-Cor Biosciences, Milabs B.V., and MR Solutions. Partnership with domestic companies and new product launches are generally favored strategies by industry players.
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