Small Animal Imaging (In-Vivo) Industry - Emerging Trends and Future Fore
Posted by Makarand Vaidya on January 24th, 2020
This report studies the small animal imaging market over the forecast period of 2016 to 2021. The market is projected to reach USD 910.4 Million by 2021; growing at a CAGR of 6.2% during 2016 to 2021.
On the basis of products, the global small animal imaging market is divided into two major categories, namely, modalities and reagents. Small animal imaging systems market is further divided into seven segments, namely, optical imaging systems, nuclear imaging systems, MRI systems, ultrasound systems, CT systems, photo-acoustic imaging systems, and magnetic particle imaging systems.
Small animal imaging systems segment is estimated to command the larger share in the global small animal imaging market in 2016. The larger market share of modalities segment can primarily be attributed to the extensive & growing application of molecular imaging during preclinical researches, high cost of imaging systems, and development & commercialization of technologically advanced preclinical imaging systems.
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A number of factors such as the technological advancements in the field of molecular imaging, increasing market demand for non-invasive small animal imaging techniques, and growing number of public-private initiatives to support preclinical researches are propelling the growth of small animal imaging market.
Emerging markets (such as China and India) are offering high growth opportunities for market players operating in the small animal imaging industry. 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 the key factors propelling the demand for small animal imaging procedures across emerging nations. In order to leverage the high growth opportunities in these emerging nations, leading market players are expanding their presence through partnerships with local market players and suppliers.
As of 2015, PerkinElmer Inc. (U.S.) held the leadership position in the global small animal imaging market. Over the past three years, the company has adopted new product launches, product enhancements, and geographic expansion as its key business strategies to ensure its dominance in this market. Bruker Corporation (U.S.), FUJIFILM Holdings Corporation (Japan), Mediso Ltd. (Hungary), MILabs B.V. (Netherlands), MR Solutions Ltd. (U.K.), Aspect Imaging (Israel), LI-COR Biosciences (U.S.), Trifoil Imaging (U.S.) and Miltenyi Biotec GmbH (Germany) are some of the other key players in market.
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.
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