Geographically, ~67% of the small animal imaging (in-vivo) market share is held by the developed regions, due to heavy investments and affordability of advanced small animal in-vivo imaging devices. North America is the dominant region owing to its adoption of advanced technologies, healthcare awareness and favorable reimbursement policies. The research outcomes in the field of small animal imaging market in North America are the blend of academic and industry efforts supported by government programs and initiatives
Small Animal Imaging (In-Vivo) Market is expected to garner $2.1 Billion by 2020, registering a CAGR of 9.1% during the forecast period 2014 to 2020. Imaging modalities emerged as a preferred option for the clinical industry, especially in preclinical studies.
Many of the nuclear imaging technologies have been translated into micro level tools that include micro MRI, micro CT and micro PET. Apart from these technologies, micro ultrasound imaging, micro-magnetic resonance imaging (MRI), optical Imaging such as bioluminescence and fluorescence imaging, and multimodal imaging technologies have gained traction in the market. Rising number of the pre-clinical research, increasing investments by the CROs in the research activities, growing applications of multi-functional pre-clinical imaging and technological advancements such as high resolution multimodality MRI are the few factors impacting the global market positively. However, the stringent regulatory impositions coupled with inadequate reimbursement scenario would restrain the market growth to a certain extent. Despite of the aforementioned market restraints, commercialization of cost-efficient devices would ease the negative influence of restraints and fuel the market growth, primarily across the developing regions.
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Rising number of Pharmaceutical companies and clinical research organizations, increasing applications of in-vivo imaging in pre-clinical research, real time data storage and high-resolution modalities, are the key growth factors of the market. Inadequate infrastructure provisions for research facilities, advanced instruments and the lack of skilled research personnel in emerging economies along with the requirement of high-end devices are likely to be the major restraints of small animal imaging (in-vivo) market. Going forward, the global clinical research initiatives, along with the development in technologies associated with pre-clinical trials will provide the platform for growth.
North America, dominates the market amongst all geographies owing to adoption of advanced technologies, healthcare awareness and favorable reimbursement policies. Geographically, about ~35 of the small animal imaging (in-vivo) market share is held by the North America owing to the heavy investments and affordability of advanced small animal in-vivo imaging devices, such as micro- Photoacoustic tomography (Micro-PAT), in pre-clinical research. On the other hand, Asia-Pacific market would grow at the promising CAGR of 11.5% over the forecast period. Such high growth rate is majorly attributed towards untapped state of the market, hence would provide an opportunity for the small animal imaging devices manufacturers.
Technologies have a notable impact on the small animal imaging market and manufacturers with novel technology rights are holding substantial market share. Advent in these novel technologies lead sto launch of new and advance product lines in thesmall animal imaging market. To gain the maximum market share, key leaders of the small animal in-vivo imaging market have adopted acquisition as a strategy, which has proved to be the most successful in this market. Key companies profiled in this report are, Thermo Fisher Scientific, Siemens AG, Mediso Medical Imaging Systems, Life Technologies Corporation, Promega Corporation, Miltenyi Biotech, Bruker Corporation, FujiFilm Holding Corporation, PerkinElmer Inc., and Aspect Imaging Ltd.