Rising demand for noninvasive small-animal imaging techniques anticipated to propel the growth of preclinical imaging market

Preclinical Imaging Market by Type [Modality, Reagents, Software and Services] – Global Outlook & Forecast 2022-2030.

According to the deep-dive market assessment study conducted by Growth+ Reports, the global preclinical imaging market size was valued at ~US$ 3.25 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 3.8% from 2022 to 2030.

Biomedical research has risen to distinction in the health care and pharmaceutical industries to the point where a country's R&D landscape can be measured by its level of investment in biomedical research. As a result, most developed and developing countries have seen a surprising increase in biomedical research over the last decade. Animal models typically receive a large portion of this research funding. This acts as a prime driver for the global preclinical imaging market.

Technical innovation and discretionary funding are driving the demand for preclinical imaging market over the forecast period. Furthermore, the growing number of clinical research organisations (CROs), research and development institutes, biotechnology and pharmaceutical companies and end users are driving up demand for preclinical imaging products. Encouragement for research and development, large government investments in research and the need for drug development are also expected to accelerate the market growth during the forecast period. Likewise, expanding applications in cosmetic industry, life sciences and others for preclinical products is another factor i.e., driving the market.

Molecular imaging has also evolved into a sophisticated multidisciplinary approach that incorporates chemistry, molecular biology, engineering, medicine and computer science. It is widely used because it distinguishes between non-invasive and real-time visualisation and can determine pathological processes in living organisms at the molecular level. With the adoption of multimodal molecular imaging, the possibility of innovative targeted therapy, personalised medicine and pre-symptomatic detection will rapidly increase as technology advances. On the positive side, with major vendors' top strategies of constant new releases and product improvement, market growth is bound to pick up significantly soon.

Some other approaches that market players adopt to bolster their market positions include partnerships, geographic expansions, collaborations, acquisitions and agreements. For

instance, in March 2020, MILabs has enhanced their preclinical diagnostic U-CT system for in-vivo imaging of COVID-19 animal models in anticipation of increased demand for antiviral research tools and to allow testing of coronavirus vaccines and medications. Presymptomatic detection, targeted therapy and personalised medicine may be possible in the near future, thanks to rapid technological advances in multimodal molecular imaging. Aspect Imaging created the M2 platform, and the suite of products allows researchers to harness the power and quantitative insights of MRI for small animal phenotyping and drug development while avoiding the cost, complexity and technical burden of traditional MRI systems.

The global preclinical imaging market is expected witness growth challenges by the factors such as high product prices, which reduce adoption rates in academic institutions and a limited number of applications for each modality, which discourages product sales. Furthermore, the restrictions placed on animal testing is also likely to restrain the growth of the market up to certain extent. For instance, European Union, India, Israel, Sao Paulo, Brazil, South Korea, New Zealand, and Turkey have adopted full or partial animal testing or sales restrictions on cosmetics, whereas U.K prohibited testing household chemicals (e.g., cleaning and laundry products, air fresheners) on animals.

Based on region, the global preclinical imaging market has been segmented into North America, Europe, Asia Pacific and the Rest of the World (ROW). North America is anticipated to take the leadership in preclinical imaging market, due to the region’s well-recognized medical infrastructure and frequent technical advancements in the molecular imaging field. Increased demand for non-invasive small-animal imaging methods as well as increased budgets for preclinical research is driving significant market growth in the region. The APAC market for preclinical imaging is primarily led by Japan, China, India, Australia and Republic of Korea and is scheduled to procure the fastest growth rate in the upcoming years. The robustness of the APAC market is the result of the robust backing from the government given to biotechnology and pharmaceutical R&D through significant funding. Rising investments in radioisotope production, increased translational research, and an improving regulatory environment across the region all contribute to the regional market value.

Some of the leading players operating in the preclinical imaging market are PerkinElmer Inc., Bruker, FUJIFILM Visualsonics, Inc., Mediso USA, MILabs B.V., MR Solutions, Aspect Imaging, Tri-Modality Imaging, Inc., Miltenyi Biotec, Agilent Technologies, Inc., among others

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