Preclinical Imaging Market expand at a CAGR of 3.5% to reach a valuation of ~US$ 4.7 Bn by the end of the year 2032.
[256 Pages Report] The global preclinical imaging market is expected to be worth US$ 3.3 billion in 2022, and to grow at a CAGR of 3.5% to be worth US$ 4.7 billion by the end of 2032. According to a recent study by Future Market Insights, MRI imaging will lead the global preclinical imaging market with a market share of approximately 18.9% in 2021.
The global preclinical imaging market projected to reach a valuation of US$ 3.3 billion in 2022 and to grow at a CAGR of 3.5% to US$ 4.7 billion by the end of 2032.
Preclinical Imaging is used for imagining of living animals specifically for research purposes, research can be for drug development and other types. Imaging products are very important so as to observe the changes in organs, cell or a tissue these changes are observed in animals that respond to environmental changes or physiological changes. Imaging modalities are mostly non-invasive and in vivo and are considered to be important for studying animal.
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There are different types of modalities which are used for preclinical imaging such as CT imaging, MRI imaging, PET/SPECT imaging, multimodal imaging, optical imaging, ultrasound imaging, and photoacoustic (PAT) imaging.
Apart from above factors preclinical imaging market has huge growth potential and is expected to continue over the forecast period. Technological advancement in preclinical imaging and the increasing adoption of molecular imaging technology for drug development tool are some factors that are expected to drive the preclinical imaging market over the forecast period.
Moreover, companies are into collaborations with the biotechnology and pharmaceutical companies to increase its geographical footprint globally which is expected to drive the global preclinical imaging market over the forecast period.
Preclinical Imaging Market: Drivers and Restraints
The demand for preclinical imaging market is fueled by technical innovation and discretionary funding which is thereby expected to drive the demand for preclinical imaging market over the forecast period. In addition the increasing number of clinical research organizations (CROs), research and development institutes, biotechnology and pharmaceuticals companies and other end users are propelling demand for preclinical imaging products.
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Encouragement for research and development, huge investments by government for research and need for drug development is expected to witness robust market growth during the forecast period. Moreover increasing applications such as life sciences, cosmetic industry and others for preclinical products is another factor that is expected to drive growth of the global preclinical imaging market over the forecast period.
However, high cost of preclinical imaging systems and lack of awareness regarding preclinical imaging technology is expected to impede revenue growth of the preclinical imaging market over the forecast period.
Preclinical Imaging Market: Regional Overview
Geographically, the global Preclinical Imaging Market, is classified into regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific excluding Japan (APEJ), Japan, Middle East and Africa (MEA).
North America dominates the global preclinical imaging market followed by Europe. North America and Western Europe regions are expected to witness robust growth due to increase in research and development and with the number of developed research infrastructure is expected to fuel the revenue growth in these regions. APEJ is expected to witness significant growth as compared to other regions and countries owing to government programs for preclinical imaging and funding for research and development expected to fuel market growth in this region. Moreover, rapidly expanding contract research organization in this region is expected to have a significant impact on the market growth. However, increasing research and educational institutes may boost the growth of preclinical imaging market in these regions during the forecast period.
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Preclinical Imaging Market: Key Players
Some of the players operating in the market for preclinical imaging market are Bruker Corporation, Thermo Fisher Scientific, General Electric, PerkinElmer, Inc., VisualSonics, Inc., MILabs B.V., Siemens A.G., TriFoil Imaging, Mediso Ltd., and Agilent Technologies and others.
Preclinical Imaging Market: Segmentation
The global preclinical imaging market, is segmented on the basis of product type, by application, by end user and region.
Segmentation by Product Type
- Medical Devices
- CT Imaging
- MRI Imaging
- PET/SPECT Imaging
- Multimodal Imaging
- Optical Imaging
- Ultrasound Imaging
- Photoacoustic (PAT) Imaging
Segmentation by Applications
- Infectious diseases
Segmentation by End User
- Research Institutes
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