Dublin, Feb. 20, 2024 (GLOBE NEWSWIRE) -- The "Small Animal Imaging (In-Vivo) Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The small animal imaging (in-vivo) market size has grown rapidly in recent years. It will grow from $2.59 billion in 2023 to $2.91 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth observed during the historic period can be credited to factors such as advancements in preclinical research and drug development, the expansion of pharmaceutical and biotechnology sectors, increased focus on translational research, studies on disease modeling and pathophysiology, and the support from academic and government funding for research.
The small animal imaging (in-vivo) market size is expected to see rapid growth in the next few years. It will grow to $4.55 billion in 2028 at a compound annual growth rate (CAGR) of 11.8%. The anticipated growth in the forecast period can be ascribed to several factors, including the development of novel imaging probes and tracers, the expansion of preclinical contract research organizations (CROs), the integration of artificial intelligence (AI) in image analysis, the implementation of advanced multimodal imaging systems, the adoption of 3D and high-resolution imaging for small animals, and an increased focus on research for rare and orphan diseases. Noteworthy trends in the forecast period include the utilization of molecular and functional imaging in small animals, the emphasis on longitudinal and real-time in-vivo imaging, the incorporation of hybrid imaging modalities for multimodal information, the imaging of CRISPR-edited animals for genetics research, the application of AI-driven phenotyping and biomarker discovery, and the use of imaging for studying neurodegenerative diseases and neuroscience.
The anticipated growth of the small animal imaging (in vivo) market is attributed to the increasing expenditure in the healthcare sector. For example, in May 2023, the Office for National Statistics reported a 9.4% increase in healthcare spending in the UK, reaching $367.25 billion (£280.7 billion) in 2021. Pharmaceutical expenditure in the same year amounted to $51.84 billion (£39.6 billion), with preventive care spending doubling to $45.93 billion (£35.1 billion) from the previous year. Consequently, the surge in healthcare sector expenditure is a key driver of the small animal imaging (in-vivo) market's growth.
The growth of the small animal imaging (in-vivo) market is further fueled by the increase in chronic diseases. In January 2023, the National Library of Medicine reported a projected 99.5% increase in individuals aged 50 years and older with one or more chronic illnesses in the United States by 2050, reaching 142.66 million from 71.522 million in 2020. Consequently, the growing prevalence of chronic diseases is a significant factor driving the expansion of the small animal imaging (in-vivo) market.
A notable trend in the small animal imaging (in-vivo) market is technological advancement. Key players in the market are actively pursuing technological innovations to enhance their market position. For instance, in April 2022, PerkinElmer, Inc. introduced the Vega imaging system, an advanced automated ultrasound platform utilizing two automated transducers. This technology offers ease of use and generates consistent results for visualizing disease pathophysiology.
Major companies in the small animal imaging (in vivo) market are also concentrating on developing innovative products for preclinical MRI systems to gain a competitive edge. These innovations may include advanced coil designs, real-time functional imaging capabilities, and user-friendly software. For example, in May 2022, Bruker Corporation launched 7 Tesla and 9.4 Tesla conduction-cooled Maxwell magnets for preclinical MRI systems, eliminating the need for helium or nitrogen refills. These advanced components offer high spatial and temporal resolution, catering to research applications in areas such as oncology and neurology.
In August 2021, Rigaku Corporation expanded its global life sciences modality business by acquiring MILabs B.V. for an undisclosed amount. This strategic move involved merging Rigaku's original X-ray imaging business with MILabs' multi-modality businesses, covering PET, SPECT, optical imaging, and CT equipment for small animal imaging (in vivo). MILabs B.V., based in the Netherlands, specializes in the development and manufacturing of molecular preclinical imaging systems, further contributing to the growth of the small animal imaging (in-vivo) market.
North America was the largest region in the small animal imaging (in-vivo) market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the small animal imaging (in-vivo) market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the small animal imaging (in-vivo) market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Report Scope
Markets Covered:
1) By Component: Micro-MRI; Optical Imaging; Nuclear Imaging; Other Components
2) By Application: Monitoring Treatment Response; Bio Distribution, Determining Drug or Target Engagement; Cancer Cell Detection; Biomarkers; Longitudinal Studies; Epigenetics
3) By End User: Veterinary Clinics; Veterinary Hospitals; Veterinary Institutes and Research Centers
Key Companies Mentioned: Bruker Corporation; PerkinElmer Inc.; Miltenyi Biotec GmbH; Aspect Imaging Ltd.; Mediso Ltd.
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
A selection of companies mentioned in this report includes:
- Bruker Corporation
- PerkinElmer Inc.
- Miltenyi Biotec GmbH
- Aspect Imaging Ltd.
- Mediso Ltd.
- Siemens AG
- Life Technologies Corporation
- Promega Corporation
- McKesson Corporation
- Integra LifeSciences Holdings Corporation
- Smith & Nephew plc
- B. Braun Melsungen AG
- Paul Hartmann AG
- Nitto Denko Corporation
- Beiersdorf Aktiengesellschaft
- NICHIBAN Co. Ltd.
- Coloplast A/S
- Scapa Group plc
- Milliken & Company
- Winner Medical Group Inc.
- Hollister Incorporated
- Avcor Health Care Products Inc.
- Advancis Medical LLC
- The ASO Group
- Dynarex Corporation
- Jiangxi 3L Medical Products Group Co. Ltd.
- Berthold Technologies GmbH and Co. KG
- Spectral Instruments Imaging LLC
- Agilent Technologies Inc.
- Bioscan Inc.
- Gamma Medica-Ideas Inc.
- Genovis AB
- LI-COR Biosciences
- Scanco Medical AG
- TriFoil Imaging Inc.
For more information about this report visit https://www.researchandmarkets.com/r/77thai
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