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Preclinical Imaging Market Growing CAGR of 6% with Topmost Players ASPECT IMAGING, BRUKER CORPORATION, LI-COR BIOSCIENCES, MEDISO, MILABS BV, MILTENYI BIOTEC GMBH, MR SOLUTIONS Till 2023

10-05-2018 04:34 PM CET | Health & Medicine

Press release from: Market Prognosis

The global preclinical imaging market is projected to register a CAGR of approximately 6% during 2018-2023 (the forecast period).

Technological Advancements in Molecular Imaging
Advanced and hybrid imaging modalities, such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), and single photon emission computed tomography (SPECT), are invaluable in providing better care to patients. Owing to technological advances, imaging modalities provide value-based care to patients. These advances enable clinicians to access and collate integrated patient data, provide improved workflow and automation, and also contribute to the development of personalized medicines. Therefore, advancements in molecular imaging modalities are driving the growth of the global preclinical imaging market. Moreover, factors, like growing demand for non-invasive small animal imaging techniques and increase in preclinical research funding by, both, private and government entities are a few factors that are driving the market growth.

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Key Developments in the Market
• March 2017 - Li-Cor Biosciences sponsored its first clinical trial for an infrared imaging agent to be used in hysterectomy patients.
• September 2017 - Aspect Imaging, a world leader in design and development of compact magnetic resonance systems for preclinical, medical and industrial applications, announced that Quantum analytics would be its exclusive US Distributor for Aspect Imaging’s Industrial product portfolio.

Major Players –
ASPECT IMAGING LTD, BRUKER CORPORATION, FUJIFILM HOLDINGS CORPORATION, LI-COR BIOSCIENCES, MEDISO LTD, MILABS BV, MILTENYI BIOTEC GMBH, MR SOLUTIONS LTD, PERKINELMER INC. AND TRIFOIL IMAGING, among others.

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Strict Regulations in Preclinical Research
There are three different reasons behind the minimal development of new drugs and the reduced number of new chemical entities that are launched every year. Firstly, both the preclinical and clinical evaluations of a new drug have become more time-consuming than ever, especially the most in-demand extensive and long-term toxicological studies. Besides, careful and more sophisticated experimental analysis of a new drug as well as clinical trial, carried out to demonstrate their efficacy, require not only a long period of investigation but also a heavy financial investment. Secondly, drug research within the pharmaceutical industry is in a critical phase, since it lacks innovation and in many companies beats traditional tracks. Thirdly, the increasing requests, orders, and regulations, issued by governments or governmental agencies, who are responsible for a proper drug administration, have put up barriers and hurdles that can only be overcome by the efforts which are quite disproportional to the expected result or may be so discouraging that they prevent the manufacturers from pursuing certain lines of research. Consequently, the strict regulations imposed on preclinical research is hindering the market growth. Additionally, factors, like high costs associated with the installation and operation of preclinical imaging modalities, are hindering the market growth.

Bioluminescence and Fluorescence Imaging Systems are among the Most Widely Employed Modalities in Preclinical Imaging
Non-invasive imaging of molecular events and interactions in living small animal models have gained importance in the preclinical research. Tracer methods, which rely on the introduction of a radioactive substance in very small concentrations, are widely used in preclinical research and drug discovery. Consequently, bioluminescence and fluorescence imaging systems are the most widely used imaging modalities in the market and, therefore, this segment holds the largest market share, in terms of revenue.

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