Global Small Animal Imaging (In-Vivo) market is expected to reach USD 1.2 billion by 2022, according to a new study by Grand View Research, Inc. Growing number of medical conditions requiring accurate research for development of treatment options is expected to enhance demand for small animal imaging (in-Vivo) over the forecast period. Importance of these devices in applications such as epigenetic research studies, drug receptor targeting, and defining mechanism of action is estimated to provide potential growth platform for this industry. The major factors driving the growth of small animal imaging (in-vivo) market are growing usage of multi-functional pre-clinical imaging, rising investments of CROs in pre-clinical studies, increasing number of pharmaceutical and research organizations and technical innovations such as high-resolution MRI with other modalities.
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Further key findings from the study suggest:
- Optical imaging dominated the technology segment in 2014 in terms of revenue share of over 45%. Advantages associated with this technology such as easy and rapid operations and relatively lower costs compared to other devices are the factors attributing for its high share.
- Micro-MRI technology is expected to be the fastest growing, and is expected to grow at a lucrative CAGR of over 12.0% by 2022. Micro-MRI has wide applications during functional and anatomical analysis in developing mouse neonates and embryos.
- In term of applications, monitoring treatment response, bio-distribution, cancer cell detection, biomarkers, longitudinal studies and epigenetic studies are segments studied. In 2014, Bio-distribution and monitoring the treatment response dominated the overall market in terms of revenue share of over 33% and 25% respectively.
- The cancer cell detection segment is expected to show prominent growth rate owing to the rising global prevalence of cancer, and increasing government initiatives pertaining to cancer diagnostics research. Cancer cell detection application is expected to generate revenue of over USD 700 million by 2022, at a CAGR of over 12% from 2015 to 2022.
- North America dominated in terms of revenue in 2014 at 36.1% in 2014. Favorable platform for R&D pertaining to technological advancements, vast pre-clinical research, established healthcare infrastructure, and rising demand for rapid and advanced methods are the key factors attributing for the highest revenue generation in this region. European market held the second position owing to the large number of pharmaceutical and clinical research organizations and diagnostic device manufacturers.
- Asia Pacific regional market is expected to register significant growth over the forecast period with CAGR of over 11% owing to emerging economies, growing base of target population, and growing clinical research activities. Additionally, rising acceptance level for advanced medical devices is expected to provide potential growth platform for key players of this market.
- The key players in this industry include Thermo Fisher Scientific, Inc. Siemens AG, Mediso Medical Imaging Systems, Life Technologies Corporation, Promega Corporation, Miltenyi Biotech GmbH, Bruker Corporation, FujiFilm Holding Corporation, PerkinElmer Inc. and Aspect Imaging Ltd. Companies are developing novel products to sustain their market positions. For instance, Bruker Corporation has launched SKYSCAN 1176, In-vivo micro-CT, and Wrist MRI Machine from Aspect for effortless imaging.
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Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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