Optical Preclinical Imaging Market Set to Witness an Uptick during 2020 to 2027

Posted by Mrudula Karmarkar on June 23rd, 2022

The global optical preclinical imaging market size is expected to reach USD 543.0 million by the end of 2027, expanding at a CAGR of 3.3%, according to a new report by Grand View Research, Inc. Increasing number of preclinical studies aimed to study and develop various effective therapeutics for different diseases is a major factor boosting the adoption of optical preclinical imaging systems.

For instance, in December 2018, Bugworks Research, a drug discovery startup based in India, received US$ 3 million grant from CARB-X, a Boston-based organization. The grant was offered to support the development of preclinical trail for novel molecules to fight antimicrobial resistance. Moreover, various researchers are engaged in finding novel ways to increase the reproducibility and robustness of preclinical cancer research with an aim to reduce the failure rate of oncology clinical trials. Optical imaging also allows cost-effective and high-throughput animal study as compared to small animal molecular imaging technologies, including PET and MRI systems.

Technological advancements favoring animal safety and the use of alternative models that could mimic the functions for preclinical evaluation are driving the market for optical preclinical imaging. For instance, in June 2020, researchers from Hesperos, a biotech firm collaborated with Roche and the University of Central Florida (UCF) for the development of a multi-organ in vitro model that could effectively measure compound efficacy and toxicity, thus transforming drug development safety studies.

Moreover, a surge in the number of preclinical studies aimed at developing various effective therapeutics for various diseases is increasing the adoption of optical preclinical imaging systems. Rising focus of pharmaceutical companies on R&D activities for the discovery and development of novel drugs is expected to raise demand for optical preclinical imaging.

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According to the Pharmaceutical Research and Manufacturers of America (PhRMA), in 2018, PhRMA member biopharmaceutical research companies invested around USD 79.6 billion for discovery and development of novel medicines. Furthermore, in June 2020, BioCelerate collaborated with the Food and Drug Administration (FDA) to develop data-driven methods, thereby enabling effective preclinical analysis for the researchers. Moreover, optical imaging systems offer a rapid, easy use, cost-effective technique to help researchers and drug developers in the non-invasive study of biological and molecular disease processes. For instance, in October 2020, the National Institute of Health (NIH) granted US$ 2.8 million grant to the Sanders-Brown Center on Aging (SBCoA) for preclinical study of new dementia treatment.

Further key findings from the study suggest:

• North America accounted for the largest share in 2020 owing to well-established research infrastructure, adoption of guidelines for preclinical research, product approvals, and higher number of drug development projects
• Based on product type, in the device segment, bioluminescence captured the largest optical preclinical imaging market share in 2020 owing to high sensitivity and broad dynamic range as compared to other techniques for imaging animals used in various studies
• The bioluminescence segment is expected to witness significant growth over the forecast period due to increasing adoption of bioluminescence technology to visualize and study disease processes in laboratory animals
• By end use, the pharma and biotech companies segment accounted for the largest optical preclinical imaging market share in 2020 owing to increasing number of candidates in drug development studies and increasing focus on research and development for drug development and innovation
• The research institutes segment is expected to witness the fastest growth during the forecast period owing to rising adoption of advanced optical imaging systems in the research institutes
• Leading players operating in the market for optical preclinical imaging include Bruker; Perkin Elmer, Inc.; MR Solutions; BioTek Instruments, Inc.; Milabs B.V.; Fujifilm Holdings Corporation; Magnetic Insight, Inc.; MBF Bioscience; and Mediso Ltd.

Leading players operating in the market for optical preclinical imaging include Bruker Corporation; Perkin Elmer, Inc.; MR Solutions; BioTek Instruments, Inc.; Milabs B.V.; Fujifilm Holdings Corporation; Magnetic Insight, Inc.; MBF Bioscience; and Mediso Ltd. Product launches, distribution agreements, and product innovation are the major strategies adopted by the players to retain their share in the optical preclinical imaging industry. For instance, in 2014, PerkinElmer Inc. launched an optical molecular imaging system – Solaris. This optical imaging system is designed for use in animal studies.