Product ID: SQSG35A2089
Report ID: SQSG35A2089 | Region: Global | Published Date: November, 2022 | Pages: 224 | Tables: 66 | Figures: 75
Global Small Animal Imaging In Vivo Market size was valued at USD 8372.91 million in 2021 and is poised to grow from USD 8921.38 million in 2022 to USD 14676.78 million by 2030, growing at a CAGR of 6.42% in the forecast period (2023-2030).
Numerous nuclear imaging technologies, such as micro MRI, micro CT, and micro PET, have been adapted into micro level equipment. In addition to these technologies, the market has seen growth in multimodal imaging, micro-ultrasound imaging, micro-magnetic resonance imaging (MRI), optical imaging such as bioluminescence and fluorescence imaging, and optical imaging. A few variables having a beneficial effect on the global market include the rise in pre-clinical research, rising CRO investments in research activities, expanding use of multi-functional pre-clinical imaging, and technology breakthroughs such high resolution multimodality MRI. However, the tight regulatory requirements combined with the poor reimbursement scenario would in some ways limit market expansion. Despite the aforementioned market restrictions, the commercialization of affordable technologies will mitigate their adverse effects and drive the industry's expansion, especially in emerging nations.
The primary drivers of the market's expansion include an increase in the number of pharmaceutical businesses and clinical research institutions, as well as in-vivo imaging applications in pre-clinical research, real-time data storage, and high-resolution modalities. The need for high-end equipment along with inadequate infrastructure for research facilities, modern instruments, and a lack of experienced research people in developing economies are projected to be the main market limitations for small animal imaging (in-vivo). 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, which has adopted sophisticated technologies, is the market leader across all geographies due to its favourable reimbursement policies. Due to significant financial investments and the accessibility of modern small animal in-vivo imaging systems, such as micro-Photoacoustic tomography (Micro-PAT), in pre-clinical research, North America holds around 35% of the global market share for small animal imaging (in-vivo). On the other hand, throughout the projection period, the Asia-Pacific market will expand at a promising CAGR of 11.5%. The fact that the sector is still mostly untouched and experiencing such high growth rates presents a business opportunity for companies who make small imaging devices for animals. The small animal (in-vivo) imaging business was stimulated by the COVID-19 epidemic. The majority of COVID-19 patients experience mild to moderate symptoms and recover at home, however a few required hospitalisation. The market appears to be significantly impacted by COVID-19.
Many governments implemented transit and travel restrictions in an effort to stop the spread of COVID-19, which hindered international trade and transportation. As a result, there was a temporary drop in product demand and the supply chain for small animal (in-vivo) imaging was disrupted. Limited access to current and potential customers has hindered market operators' ability to provide small animal (in vivo) imaging devices and apply previously marketed products, which will cause a little decline in growth rate in 2021.
US Small Animal Imaging In Vivo Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global Small animal imaging Market is classified on the basis of application, technology and geography. The small animal imaging (in-vivo) market is divided into micro-MRI, optical, nuclear imaging, and others, such as micro-CT and micro-ultrasound,based on technology.The market is segmented by application into sectors for cancer cell detection, bio-distribution, monitoring therapy response, longitudinal studies, and epigenetic studies. Based on geography, the small animal imaging market is segmented into North America , Latin America , Western Europe , Asia Pacific, Japan, Middle East and Africa.
Small Animal Imaging In Vivo Market Analysis by Technology
Due to its quick and simple procedures and superior cost effectiveness when compared to other modalities, optical imaging was the most lucrative segment in terms of revenue in 2021. Due to its benefits, such as its precise and specialised operations, which aid in producing enhanced outcomes in preclinical research, micro-MRI technology is expected to post the greatest CAGR throughout the projection period.
Small Animal Imaging In Vivo Market Analysis by Application
The two biggest application sectors are bio-distribution and treatment response monitoring. The largest segment was bio-distribution, and it is expected that this trend would continue over the projected period. It is essential to evaluate the drug-target engagement of novel molecules or preclinical bio-distribution when assessing drug efficacy in order to optimize drug formulations and find appropriate profiles. Noninvasive near infrared (NIR) fluorescence imaging allows for the real-time viewing and detection of a novel drug's whole body tissue biodistribution. On the other hand, the market participants can expect the quickest growth in the cancer cell detection category due to the rising global cancer prevalence. By 2022, it is expected that the cancer cell detection application will command a sizable market share.
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North America contributed the most to global revenue. The expansion of the market in the area can be ascribed to the development of inventive modality as a result of technical progress. The industry is expected to have great growth throughout the forecast period thanks to a variety of preclinical research being conducted in the area.
Europe is predicted to be the second-largest market during the forecast period due to the existence of numerous clinical research, pharmaceutical, and diagnostic device manufacturers. The movement of clinical research efforts from developed to developing countries is expected to cause the Asia Pacific region to grow at the quickest rate over the projected period.
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Small Animal Imaging In Vivo Market Driver
Small Animal Imaging In Vivo Market Restraint
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Major manufacturers are focusing on executing crucial business tactics like collaboration, acquisition, and new product releases in order to increase their product line and keep a monopoly on the market. In the numerous submarkets of the global small animal imaging market, there are a number of regional and international players. Most market participants want to increase their market share, therefore innovation is being included into both their products and acquisitions.
Small Animal Imaging In Vivo Market Top Player’s Company Profiles
Small Animal Imaging In Vivo Market Recent Development
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According to the analysis, cancer cell detection dominated the global Small animal imaging in vivo Market in 2021 and is expected to maintain its dominance throughout the forecast period. In 2021, North America dominated the global Small animal imaging in vivo Market owing to the region's highly aware and economically stable population.
|Market size value in 2021||USD 8372.91 million|
|Market size value in 2030||USD 8921.38 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Small Animal Imaging In Vivo Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Small Animal Imaging In Vivo Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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