Preclinical Imaging Market Growth & Trends
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.
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.
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.
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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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