[COVID-19] Small Animal Imaging Market 2021 : Industry In-depth Analysis Agilent Technologies, Aspect Imaging, Bruker Corporation

Small animal imaging involves devices and reagents used for preclinical imaging of rats and mice for the development of drugs, developmental studies, gene expression, and various other research activities. These devices are similar to imaging modalities used for diagnostic purposes in humans, however due to the smaller size are generally referred as micro devices.

Statistics:

The global small animal imaging market is estimated to account for US$ 4,879.3 Mn in terms of value by the end of 2027.

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Market Drivers:

Growing applications of preclinical imaging modalities in drug discovery and biotechnology research is expected to propel growth of the global small animal imaging market over the forecast period. Preclinical imaging is currently one of the most powerful and clinically translatable methods for monitoring disease progression. Early image-based indications from preclinical studies are being increasingly used for effective enrollment of patients or switching of treatment paradigm, which eventually saves time and money with respect to bringing novel drugs in the market.

Drug manufacturers and biotechnology companies over a decade have substantially increased their focus on imaging endpoints in clinical trials, especially with techniques such as micro-MRI, Micro-PET and optical imaging. These inclinations have created a need for preclinical imaging tools and reagents for validating and optimizing imaging protocol pertaining to a specific agent or class of agent.

Statistics:

North America held dominant position in the global small animal imaging market in 2019, accounting for 37.7% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Market Opportunities:

Investment R&D in novel reagents is expected to offer lucrative growth opportunities for players in the global small animal imaging market. Development of reagents which either have superior imaging results or potential to be used in multiple devices will help companies to retain market share for a considerably longer period.

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Moreover, R&D in animal imaging is also expected to aid in growth of the global small animal imaging market. For instance, in June 2020, researchers from Institute of Biological and Medical Imaging (IBMI), Germany, reported development of two photochromic proteins for cell-specific in vivo optoacoustic whole-animal imaging with signal unmixing in the temporal domain.

Statistics:

The global small animal imaging market was valued at US$ 2,562.3 Mn in 2019 and is forecast to reach a value of US$ 4,879.3 Mn by 2027 at a CAGR of 8.6% between 2020 and 2027.

Competitive Landscape:

Major players operating in the global small animal imaging market include, Agilent Technologies, Inc., Aspect Imaging, Bruker Corporation, TriFoil Imaging, Inc., LI-COR Biosciences, Inc., FujiFilm VisualSonics, Inc., Miltenyi Biotec GmbH, MR Solutions, Perkin Elmer, Inc., Promega Corporation, Siemens AG, AXT, Hallmarq Veterinary Imaging, and SCANCO Medical AG.

Market Key Developments:

Major players in the global small animal imaging market are focused on launching new products to expand their product portfolio. For instance, in September 2020, Hallmarq Veterinary Imaging launched a second-generation MRI system for large-breed dogs and other small animals.

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