Preclinical Imaging Market with Potential Impact of Coronavirus (COVID19), SWOT Analysis, Risk Analysis, and Forecastn
The global preclinical imaging market is growing pervasively, witnessing increasing consumption of imaging products in various modalities. Also, rising technological advances in the field of molecular imaging, alongside the growing demand for non-invasive small animal imaging techniques drives the growth of the market. Moreover, increasing funding to support preclinical researches is escalating the market growth to furthered height.
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According to Market Research Future (MRFR), the global preclinical imaging market valuation had reached USD 2.01 BN in 2017, which is further expected to appreciate at 6.3% CAGR over the assessment period (2018 to 2023). The market has seen several innovative and easy-to-use imaging agents launches, which has undoubtedly helped in the growth of the market. Rising technological advancements are estimated to propel the growth of the market.
The growing prevalence of myriads of chronic diseases and increasing awareness about the innovative diagnostics methods that can offer early diagnosis benefits influence the growth of the market.
Preclinical Imaging Market - Segments
The analysis is segmented into three dynamics.
By Modality: Optical Imaging Systems (Bioluminescence/Fluorescence Imaging Systems, Standalone Fluorescence Imaging Systems, Optical + X-ray/ Optical + CT systems, others), Nuclear Imaging Systems (Micro-PET Systems, Micro-Spect Systems, Trimodality (Spect/PET/CT) Systems, others), Micro-MRI, Micro-Ultrasound, Micro-CT, Photoacoustic Imaging System, Magnetic Particle Imaging Systems, and others.
By Reagent: Preclinical Optical Imaging Reagents (Bioluminescent Imaging Reagents, Fluorescent Imaging Reagents, others), Preclinical Nuclear Imaging Reagents (Preclinical PET Tracers, Preclinical Spect Probes, others), Preclinical MRI Contrast Agents, Preclinical Ultrasound Contrast Agents, Preclinical CT Contrast Agents, and others.
By Regions: Europe, Americas, Asia Pacific, and Rest-of-the-World.
Preclinical Imaging Market - Regional Analysis
North America leads the global preclinical imaging market. The largest market share is attributed to the presence of several industry players and technological advancements in molecular imaging in the region. Besides, factors such as the increasing market demand for non-invasive small animal imaging techniques and increasing funding to support preclinical researches foster the regional market growth.
Additionally, well-established healthcare sectors in the region, alongside the rising healthcare spending and adoption of preclinical imaging in medical diagnostics, spur the growth of the market. The US and Canada are major markets for preclinical imaging, which contribute significantly to the market growth in North America. The North American preclinical imaging market is estimated to continue its dominance over the global market throughout the forecast period.
Europe stands second in the global preclinical imaging market. The market growth is driven by the increasing funding to support preclinical researches from regulatory authorities in the diagnosis of various chronic diseases. Moreover, augmenting demand for innovative & easy to use imaging agents in the medical sector has been increasing the size of the market. Furthermore, growing healthcare expenses, the resurging economy in the region, and spreading awareness about preclinical imaging modalities positively impact the regional market.
The Asia Pacific preclinical imaging market is growing rapidly. Factors such as rising numbers of biotechnology and pharmaceutical companies increase the size of the preclinical imaging market excellently. Besides, the growing penetration of imaging technology in the healthcare sector for medical imaging purposes fosters regional market growth. The APAC preclinical imaging market is projected to create a substantial revenue pocket over the assessment period.
Preclinical Imaging Market - Competitive Analysis
Highly competitive, the preclinical imaging market appears fragmented due to the presence of several notable players. To gain a larger competitive share in the market, players adopt strategies such as mergers & acquisitions, collaboration, expansion, and product & technology launch. Industry players make substantial investments to drive R&D and expansion plans. R&D investments help them to better their imaging agents, and expansion investment helps them to increase their global footprints.
Players leading the global preclinical imaging market include Bruker Corporation (US), MR Solutions (UK), PerkinElmer (US), Fujifilm Holdings Corporation (Japan), Milabs BV (The Netherlands), Mediso Ltd. (Hungary), Miltenyi Biotec GmbH (Germany), LI-COR, Inc. (US), Aspect Imaging (Israel), and Trifoil Imaging (US), among others.
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