Small Animal Imaging Reagents Market is Projected to Reach USD 3.4 Billion by 2027, Growing at a CAGR of 10.7% During 2021-2027
Published | January 2021
According to BlueWeave Consulting, the global small animal imaging reagents market is
projected to reach USD 3.4 billion by 2027, growing at a CAGR of 10.7% during
2021-2027 (forecast period). Small animal imaging is identified as a process
that has been employed using imaging devices and reagents for monitoring the
molecular or cellular process for biochemical, biological, diagnostic, and
therapeutic application in animals such as rats and mice for drug development
and gene expression studies. Furthermore, the small imaging systems are a
cost-effective way for regular validation and commercialization of new drugs as
it includes the whole body scan of the animal
Technological innovations such as a
combination of high-resolution MRI new opportunities in the small animal
imaging reagents market
The most recent advances in magnetic resonance imaging
technology have been on the software side, which enables faster contrast scans,
greatly simplifies cardiac imaging workflows, and allowing MR scans of the
lungs. Also, a few new MRI scanners have entered the market in the past year.
The technological innovations such as a combination of high-resolution MRI with
other modalities and the advancement of transgenic and gene knockout
technologies will fuel the demand for the reagents in the market as small
animals like rats and mice are most widely used for cardiovascular imaging
studies.
Rise In the Pharmaceutical Industry and
R&D Expenditures
For instance, global spending on R&D has reached a record
high of almost US$ 1.7 trillion. About 10 countries account for 80% of
spending. The pharmaceutical market across the globe is expected to grow in the
upcoming years despite the recent slowdown in key markets. In addition, the
aging and growing population, rising income levels, and emerging medical
conditions and along with the emergence of new diseases are the major driver's
factors. These would be directly benefiting the small animal imaging market
growth.
Optical Imaging Segment occupy the
largest share of the small animal imaging reagents market
Based on the Modality, the small animal imaging reagents market
is segmented into Optical Imaging, PET, SPECT, CT, MRI, ultrasound,
Photoacoustic Imaging, Magnetic Particle Imaging. The recent advances in
molecular and cell biology and the rising awareness regarding the human and
mammalian genome, molecular and cellular mechanisms that control biological
processes and underlie many diseases, including cancer are boosting the segment
growth. In addition, compared with the other PET/SPECT and MRI, optical imaging
is relatively inexpensive without the need for extensive infrastructure.
Global Small Animal Imaging Reagents
Market: Regional insights
North America catering the largest share and expected to witness
significant growth in the small animal imaging reagents market during the
forecast period. The high industry growth rate, with the emergence of new
technology, is the major reason. The key providers are continuously upgrading
their offerings to differentiate them from other competitors. This is achieved
by various organic and inorganic strategies. Suppliers operating in the
industry are continuously working on new development, technical expertise, and
in-house capabilities. High opportunity makes the small animal imaging reagents
market more competitive and suppliers are trying hard to capture the clients.
The market is highly acceptable to innovative products, however, considering
the risks involved in business continuity implementers are still considering
brand over new offerings in the market.
Global Small Animal Imaging Reagents
Product Market: Competitive Landscape
The leading players for the global small animal imaging reagents
product market include, ErkinElmer Inc. Bruker Corporation, FUJIFILM Holdings
Corporation, Mediso Ltd., MILabs B.V., MR Solutions Ltd. Aspect Imaging, LI-COR
Biosciences hermo Fisher Scientific, Perkinelmer, Bruker, Fujifilm Holdings,
Trifoil, MiltenyiBiotec, Mediso, Aspect Imaging, Li-Cor Biosciences, Trifoil
Imaging, and others, are expanding their presence in the market by implementing
various business strategies. Major players are engaged in mergers and
acquisitions, expansion of their manufacturing facilities, infrastructural
growth, investment in R&D facilities, and the quest for opportunities to
expand vertically through the value chain.
Don’t miss the business opportunity of
the Small Animal Imaging Reagents market. Consult our analysts, gain crucial
insights, and facilitate your business growth.
The in-depth analysis of the report provides information about
growth potential, upcoming trends, and statistics of global small animal
imaging reagents market size & forecast. The report promises to provide
recent technology trends of the small animal imaging reagents market and
industry insights that help decision-makers to make sound strategic decisions.
Furthermore, the report also analyzes the growth drivers, challenges, and
competitive dynamics of the market.
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