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
Published | 13 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.
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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.
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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- Global Small Animal Imaging Reagents Market, By Modality (Optical Imaging, PET, SPECT, CT, MRI, ultrasound, Photoacoustic Imaging, Magnetic Particle Imaging); By Reagents (Optical Imaging Reagents, Contrast Agents, PET Tracers, SPECT Probes); By Region (North America, Europe, Asia Pacific, and Rest of the World); Trend Analysis, Competitive Market Share & Forecast, 2021-2027.
Publish Date: December 2020
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