Small Animal Imaging Market to Surpass US$ 1,692.5 Mn by 2030
Global Small Animal Imaging Market, by Product Type (Optical Imaging Systems {Bioluminescence/Fluorescence Imaging Systems, Standalone Fluorescence Imaging Systems, and X-Ray/Optical Imaging Systems}, Nuclear Imaging Systems {Micro-PET (Positron Emission Tomography) Systems, Micro-SPECT (Single-Photon Emission Computed Tomography) Systems, and Trimodality (SPECT/PET/CT) Systems}, MRI (Magnetic Resonance Imaging) Systems, Ultrasound Systems, CT (Computed Tomography) Systems, and Others {Photoacoustic Imaging Systems and Magnetic Particle Imaging (MPI) Systems, among others}), by Application (Monitoring Drug Treatment Response, Bio-distribution Studies, Cancer Cell Detection, Biomarkers, and Others {Longitudinal Studies and Epigenetics, among others}), by End User (Biotechnology and Pharmaceutical Companies, Academic/ Research Institutes, and Others {Contract Research Organizations, Laboratories, among others}), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), is estimated to be valued at US$ 977.7 million in 2022 and is expected to exhibit a CAGR of 7.1% over the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Key players operating in market are focusing on rapid research and development activities for launch of new small animal imaging equipment, which is expected to drive the global small animal imaging market growth over the forecast period.
For instance, in May 2022, FUJIFILM VisualSonics Inc., a global biomedical company announced the launch of its ultra-high to low frequency (71 MegaHertz-1MHz) photoacoustic imaging and ultrasound system called Vevo F2 for imaging a range of animal models such as rodents in cross-functional biological and physiological research.
Global Small Animal Imaging Market – Impact of Coronavirus (Covid-19) Pandemic
COVID-19 outbreak was first reported on December 31, 2019, in Wuhan, China. According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 541 million cases and 6.3 million deaths due to Coronavirus (COVID-19) were reported up till June 26, 2022, across the globe.
The COVID-19 pandemic has adversely affected several markets across the globe. Lockdowns in various countries have placed an economic burden on the private healthcare sector. Healthcare providers are facing challenges in terms of availability of manpower, equipment, consumables, and other resources to ensure safe treatment of patients with other diseases, and declining outpatient visits among others.
However, the COVID-19 pandemic had a positive impact on the small animal imaging market due to its potential use as an inexpensive and fast diagnostic tool for the COVID-19. During the COVID-19 pandemic, small animal imaging platforms emerged as attractive tools for studying COVID-19 disease progression, development of vaccines, and treatment drugs.
For instance, according to an article published in the ScienceDirect, a scientific journal on April 15, 2020, the COVID-19 pandemic has highlighted the importance of preclinical models for SARS-CoV-2 infection in animal models. Despite the lack of severe case models, nonhuman primate (NHP) models have so far provided the closest pathophysiology to humans. Lung imaging, utilizing either chest X-rays or CT, for monitoring COVID-19 in patients. Many NHP research concentrating on COVID-19 pathogenesis, therapies, and vaccinations have included such monitoring, but it has frequently been qualitative.
Browse 58 Market Data Tables and 43 Figures spread through 180 Pages and in-depth TOC on “Small Animal Imaging Market”- Global Forecast to 2030, by Product Type (Optical Imaging Systems {Bioluminescence/Fluorescence Imaging Systems, Standalone Fluorescence Imaging Systems, and X-Ray/Optical Imaging Systems}, Nuclear Imaging Systems {Micro-PET (Positron Emission Tomography) Systems, Micro-SPECT (Single-Photon Emission Computed Tomography) Systems, and Trimodality (SPECT/PET/CT) Systems}, MRI (Magnetic Resonance Imaging) Systems, Ultrasound Systems, CT (Computed Tomography) Systems, and Others {Photoacoustic Imaging Systems and Magnetic Particle Imaging (MPI) Systems, among others}), by Application (Monitoring Drug Treatment Response, Bio-distribution Studies, Cancer Cell Detection, Biomarkers, and Others {Longitudinal Studies and Epigenetics, among others}), by End User (Biotechnology and Pharmaceutical Companies, Academic/ Research Institutes, and Others {Contract Research Organizations, Laboratories, among others}), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa),
To know the latest trends and insights prevalent in the global Small Animal Imaging market, click the link below:
https://www.coherentmarketinsights.com/market-insight/small-animal-imaging-market-692
Key players operating in market are focusing on adoption of inorganic growth strategies such as partnerships, acquisitions, and others in order to strengthen their position in the market. For instance, in November 2021, Bruker, a U.S.-based medical technology company, announced that it has acquired Molecubes NV, a Belgium-based innovator in preclinical nuclear molecular imaging (NMI) systems, to position itself as one of the leading provider of nuclear imaging systems solutions in preclinical (includes small animal imaging) and translational imaging research.
Key Takeaways of the Global Small Animal Imaging Market:
- Global small animal imaging market is expected to exhibit a CAGR of 7.1% over the forecast period, owing to rising strategic business partnerships between market players for development of small animal imaging products. For instance, in March 2021, Bruker entered into a partnership with Cambridge Isotope Laboratories (CIL), a leading producer of stable isotopes based in Massachusetts. This collaboration will assist Bruker in expanding its capabilities to provide end-to-end nuclear magnetic resonance (NMR) spectroscopy service solutions.
- Among application, Bio-distribution studies segment is expected to account for the largest market share in 2022, owing to the presence of research organizations and institutes that provide services such as PET/CT, MRI, etc. for studying bio-distribution using small animal imaging helps boost R&D which is expected to drive the segment growth. For instance, the University of Alabama at Birmingham, U.S. offers a small animal imaging shared facility with various imaging equipment such as optical, ultrasound, MRI, PET/CT, and others for researchers to carry out bio-distribution studies. A bio-distribution study is an in vivo drug development study which uses nonclinical species such as mice, hamsters, etc. to assess where an investigational compound (drug) goes and accumulates after being administered into the subject/ animal model.
- Key players operating in the global small animal imaging market include Bruker, Aspect Imaging Ltd, TriFoil Imaging, LI-COR, Inc., FUJIFILM Holdings Corporation, Promega Corporation, Siemens Healthineers, Hallmarq Veterinary Imaging, Analytik Jena GmbH, Mediso Ltd., iThera Medical GmbH, MILabs B.V., Heska Corporation, Miltenyi Biotech GmbH, and PerkinElmer, Inc.
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