Small Animal Imaging Market to Expand at 8.60% CAGR Owing to Growth of Clinical Research Organizations

Transparency Market Research has published a new research report titled “Small Animal Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”. According to the report, the global small animal imaging market is projected to grow from a value of US$1.4 bn in 2013 to US$2.7 bn by 2020. The major factors driving this market are rise in drug discovery and biotechnology research, growth in clinical research organizations (CROs) in emerging economies, and rising adoption of optical and multimodal imaging devices. This market is anticipated to expand at a strong CAGR of 8.60% during the forecast period.

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The report states that growing investments in the development of novel reagents are likely to result in sustainable growth of the preclinical imaging market, thereby giving the small animal imaging market a considerable boost. However, high cost of device development, lengthy and multiple approval procedures, and early saturation of devices is anticipated to hinder the growth of the global small animal imaging market.

Application-wise, the small animal imaging market is categorized into cardiology, neurology and psychiatry, oncology, autoimmune diseases, and others. On the basis of reagents, the small animal imaging market is segmented into ultrasound contrast reagents, CT contrast reagents, nuclear imaging contrast reagents, MRI contrast reagents, and optical imaging contrast reagents. Based on devices, the small animal imaging market is fragmented into micro-MRI, multimodal imaging, micro-ultrasound, micro-CT, micro-PET/SPECT, optical imaging, and micro-PAT.

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Geographically, the global small animal imaging market is divided into Asia Pacific, North America, Europe, and Rest of the World. Driven by extensive preclinical research activities, North America dominates the worldwide market, followed by Europe. The lucrative markets of Asia Pacific and Rest of the World, on the other hand, have been projected to develop at the highest CAGR from 2014 to 2020 owing to thriving pharmaceutical industries and rising number of CROs.

A key feature of the report is its assessment of the competitive landscape. Leading players in the small animal imaging market are identified and reviewed in the report based on aspects such as company overview, business strategies, recent developments, product portfolio, and financial overview. In addition, a SWOT analysis is conducted to ascertain each player’s strengths and weaknesses.

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With the help of Porter’s five forces, the report also evaluates the impact of suppliers, buyers, competitors, new entrants, and substitutes on the vendors operating in the global market.

Some of the noteworthy players competing in the small animal imaging market are Perkin Elmer, Inc., Bruker Corporation, Miltenyi Biotec GmbH, LI-COR Biosciences, Inc., Agilent Technologies, Inc., SCANCO Medical AG, Targeson, Inc., Aspect Imaging, Siemens AG, TriFoil Imaging Inc., FujiFilm VisualSonics, Inc., and Promega Corporation.

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About TMR

Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.

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This release was published on openPR.