Small Animal Imaging Market Analysis By Reagent (MRI Contrast Agents, Ultrasound Contrast Agents and CT Contrast Agents), Modality, Key Players, Regional Analysis, Forecast To 2023
Global Small Animal Imaging Market will Grow at 6.5% CAGR during the forecast period 2018 to 2023. Pet Healthcare sector around the world has catapulted the Rising of Small Animal Imaging Market as the pet owners are willing to pay for veterinary care. The adoption rate of small animals has increased over the years which will complement the growth of the market throughout the review period.
The accelerating demand for non-invasive imaging techniques for small animals is the key driving factor of the market and will catalyze revenue generation of small animal imaging market throughout the projection period. Furthermore, the manufactures in the small animal imaging industry strive to integrate technological advancements and innovations into their products for staying ahead of the curve which will aid market growth and expansion over the next couple of years.
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However, the factors responsible for holding the small animal imaging market include rigid laws implemented against experiments on animals, and expensiveness of the devices among others.
By reagent, the small imaging market has been segmented into optical imaging reagents, nuclear imaging reagents, MRI contrast agents, ultrasound contrast agents, and, CT contrast agents. The optical imaging reagents segment is sub-segmented into bioluminescent imaging reagents and fluorescent imaging reagents. The bioluminescent imaging reagents segment is further segmented into luciferins, pro-luciferins, coelenterazine, and other bioluminescent imaging reagents.
The fluorescent imaging reagents segment has further been segmented into green fluorescent proteins, red fluorescent proteins, infrared dyes, and, other fluorescent imaging reagents. The nuclear imaging reagents segment is sub-segmented into pet tracers and spect probes. The pet tracers segment is further segmented into fluorine-18-based small animal pet tracers, carbon-11-based small animal pet tracers, copper-64-based small animal pet tracers, and other spect probes. The spect probes segment has further been segmented into technetium-99m-based small animal spect probes, iodine-131-based small animal spect probes, gallium-67-based small animal spect probes, thallium-201-based small animal spect probes, and other spect probes. The MRI contrast agents segment has been sub-segmented into gadolinium-based small animal contrast agents, iron-based small animal contrast agents, and manganese-based small animal contrast agents. The CT contrast agents segment is sub-segmented into iodine-based small animal CT contrast agents, barium-based small animal CT contrast agents, and, gold nanoparticles and gastrografin-based small animal CT contrast media.
By modality, the global small animal imaging market is segmented into optical imaging systems, nuclear imaging systems, micro-MRI systems, micro-ultrasound systems, micro-CT systems, photoacoustic imaging systems, and, Magnetic Particle Imaging (MPI) systems. The optical imaging systems segment is further sub-segmented into bioluminescence/ fluorescence imaging systems, standalone fluorescence imaging systems, and, optical + X-Ray/optical + CT systems. The nuclear imaging systems segment is sub-segmented into micro-Pet systems, micro-spect systems, and, trimodality (spect/pet/CT) systems. The micro-pet system segment has further been segmented into standalone pet systems, pet/CT system, and pet/MRI systems. The micro-spect system is further segmented into standalone spect systems, spect/CT system, and spect/MRI systems.
By region, the small animal imaging market is segmented into Americas, Europe, Asia Pacific, and Middle East & Africa. The Americas market will dominate the global market and will account for the maximum share in revenue across the assessment period. The growth in this region can be primarily attributed to the investments made by clinical research organizations coupled with spiraling government funding for research activities. Furthermore, the concentration of top-notch players such as PerkinElmer Inc., Bruker Corporation, and LI-COR Biosciences among others are favoring the market expansion.
The thriving Europe market will exhibit an upswing due to the multiplying investments by leading pharmaceuticals enterprises consolidated in the region. The accelerating rate of pet adoption in the region will also fuel growth and market expansion.
Asia Pacific will demonstrate the steepest growth curve is owing to the opportunities for expansion exhibited by emerging economies such as India, China, Japan, etc. Middle East & Africa market will hold the least share due to lack of technological advancements in the healthcare sector.
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The key players profiled by MRFR in its latest report for drawing a deeper insight into the market forecast include PerkinElmer Inc. (U.S.), FUJIFILM Holdings Corporation (Japan), MILabs B.V. (Netherlands), Aspect Imaging (Israel), Trifoil Imaging (U.S.), Miltenyi Biotec GmbH (Germany), Bruker Corporation (U.S.), Mediso Ltd. (Hungary), MR Solutions Ltd. (U.K.), and LI-COR Biosciences (U.S.) among others. The strategies developed and implemented by the players for gaining prominence in the market include clinical trials, mergers & acquisitions, innovative collaborations, research & developments activities, etc.
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