The global Preclinical Imaging Market is expected to reach around USD 3.6 billion by the year 2024, according to a report performed by Grand View Research, Inc. The swift increase in the number of clinical research organizations (CROs), pharmaceutical companies, and research and development organizations is propelling the demand for preclinical imaging.
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 the wide application areas,
where imaging modalities are widely used in research and development.
Furthermore, veterinary hospitals and educational institutions also create an
additional demand for this market.
North America comprises the U.S. and Canada markets.
North America and Europe together accounted for the largest market share in
2015. The increased research and development funding coupled with the presence
of a highly developed research infrastructure is accelerating the growth of the
market in Europe and North America.
On the other hand, the governing stringent regulatory
guidelines are restricting the growth of the market in North America. Asia
Pacific is expected to show the fastest growth rate during the forecast period
owing to the easy availability of resources, the presence of an advanced
research infrastructure, and the allocation of government funds for R&D
activities.
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Further key findings from the
study suggest:
- The
optical imaging devices segment captured the largest market share of the
overall market in 2015. The largest market share was mainly attributed to
the extensive application of these devices in small animal imaging and
research projects.
- The
multimodal imaging devices segment is anticipated to show a significant
growth rate from 2016 to 2024. The increasing adoption of these devices owing
to the integration of multiple imaging modalities into a single unit is
the major factor expected to drive the growth of this segment during the
forecast period.
- The
reagents segment accounted for a significant market share in 2015 as these
products are purchased repeatedly, unlike in the case of imaging devices
- North
America captured the largest market share of around 35% in 2015. The
market is expected to maintain its dominance during the forecast period.
Well-established research infrastructure, the growing number of research
and development activities, and the rising investments in R&D are some
of the factors supporting the growth of the market in this region.
- Asia
Pacific is anticipated to show a significant growth rate from 2016 to 2024
owing to the rapidly expanding contract research organization (CRO)
industry in this region
- The
exit of the major players from the market is creating growth opportunities
for the other smaller, domestic Preclinical imaging system manufacturers
- The
major market players include Bruker Corporation, Siemens A.G., General
Electric(GE), TriFoil Imaging, PerkinElmer, Inc., VisualSonics, Inc.
(Fujifilm), Mediso Ltd., MILabs B.V., and Agilent Technologies.
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